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Best Buy Co., Inc. Message Board

  • steffenhilgemann steffenhilgemann Mar 15, 2013 11:51 AM Flag

    Sorry longs..

    I was a long from $12 to $17.25, then missed the last leg because I thought fundamentals wouldn't justify a much higher price in the short to medium term (i.e. in 2013). Boy was I wrong. But I still made plenty of money. That being said, at $21.50 it's feeling a bit frothy, so I'm sorry to say but I'm now on a short trade. Nothing wrong with the company, I just think the price has gotten ahead of itself. Don't forget, Q1 numbers will be rather bad at the end of May, that's driving my rationale..

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    • We are sorry for you since you missed the climb from 17.25 to 21.5, which would have been another 25% for you. If it climbs to at least 24, you would have doubled your money. Of course you most likely are correct in a pullback before it resumes its climb. The dividend on 3/19/13 will be nice in the meantime.

32.03+0.080(+0.25%)May 27 4:00 PMEDT