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Best Buy Co., Inc. Message Board

  • lewisz88 lewisz88 Jan 27, 2014 1:45 PM Flag

    Selling pressure is solid

    I'd like to see $20-22 range for a pause...

    Sentiment: Strong Sell

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    • Who knows where it goes from here but BBY did just retest the low from the big drop a few weeks or so ago. The Dow just corrected about 5% from the high set in late 2013. Now the Nazdaq intra-day today was down 5% in less than three days alone so maybe you see a reversal today. New pension fund monies come in in a few days and traders may want to get ahead of that also but I believe the selling may not yet be done. I guess today's close will give us some idea on the near-term direction and I was shocked that CAT beat and helped today I thought CAT alone would have extended the market's losses. A flat close today in markets may actually be bullish and a big wild card for tomorrow is AAPL after the bell.

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