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Pep Boys - Manny, Moe & Jack Message Board

  • venerability2 venerability2 Dec 2, 2010 7:59 AM Flag

    Breakout Today?

    Could be.

    If the Market cooperates, could get signaling breakout today.

    Not much commentary on potential earnings surprise. Which might mean we're going to get one. Peers have had some very nice reports.

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    • Price chart already has the good news impact...
      Stock is HI.
      Good earns but no guidance wiil cause selloff to $11.90.Tue.

      • 1 Reply to fcolosino2001
      • No offense, but there are TWO potential all-market rallies this week:

        On some kind of Euro-positive news out of the meeting starting tonight.

        And very, very importantly: On bipartisan tax compromise reached by Congress, which most now feel will include no or less rise in capital gains and dividends.

        So PBY has to have a negative earnings report not to share in the market-wide rallies, whichever days they occur.

        Short position still fairly significant, so Shorts are welcome to finagle. But I think their accomplisments would be short-lived if report is neutral, let alone a beat.

    • Bigger question is: will there be a breakout Monday After close...UP on Tuesday? Or DOWN Tuesday?
      Any opines? Thanks.

      • 2 Replies to commander_response
      • Talk about a difference of opinion!

        Bears aren't covering.

        Bulls aren't buying.

        But apparently, options activity has been very Bullish.

        Let's see if there's a volume pickup later in the day.

      • I don't agree with you.

        If the remaining Shorts decide to flee, they'd be better off by far doing it in the next hour and a half and/or on Monday before the announcement, which the Market seems to be signaling will be OK, if not spectacular.

        (Not the season for it to be spectacular, but if they meet or slightly beat, it will be enough.)

        Shorts throughout the Market have to be exceptionally nimble now.

        That jobs report means one thing and one thing only to me: Bipartisan compromise on taxes is a done deal.

        And if they keep dividend rates - and hopefully capital gains - from rising, look for a massive Market rally for weeks to come.

        So many people have looked at this tax battle exactly the wrong way!

        The income tax cutoff point will probably be adjusted upwards. But it shouldn't be the primary focus.

        Keeping dividend and cap gains rates low is a zillion times more important, not only for the Market itself, but for business and consumer confidence going forward.

        And I think they'll surprise us positively.