now seems to move with the housing numbers. Today's housing numbers (starts and permits) were OK but a bit light. It also has shown a correlation lately with the Michigan number. If housing does slow especially with the 10 year creeping higher BBY may have seen it's highs for now unless some great news shows up or earnings are great.
BBY remains a cyclical company. (Profits increase with a growing economy. And, yes, BBY does profit from growth in housing.) But BBY has become a special case where the company's internal issues outweigh the impact of economic trends. That means BBY trades on issues not related to the economy and largely understood only by insiders. Trading against insiders is dangerous. It is a game for speculators and gamblers, not investors. In time this will pass and BBY will once more become a core holding for longer term investors. But that time is not now.
maybe ther is a connection there. honestly though, there is not much ratail interest in this stock. I think the movement has been controlled by the MMs...who right now want to keep BBY momentum higher. I think eventually BBY hits 30 sometime over the summer. From there it will be a free fall.
Hopefully the institutions will look beyond the misleading headline of the August earnings report and look deep into all of the numbers, not just the superfluous ones. They are carrying a huge load of debt and should really not even be paying the quarterly dividend, that is a ruse.