reduced from the 6/15 661,115 shares to 7/15's
324,261 shares. With average daily trading volume,
according to the WSJ at 324,261, current short interest
represent one day's trading.
SKX's IPO on 6/9 @ 11,
opened at 10 1/2, peaked at 11, traded as low as 10 3/8,
closed at 10 5/8. On 6/10, SKX opened at 10 5/8, traded
low at 10 9/16, high at 11 7/8 closing at 11 13/16,
up 1 3/16. On Friday 6/11, SKX opened at 11 15/16,
peaked at 12 3/8 (all time high), low as 11 1/2 and
closed at 11 13/16 again. On Monday 6/14, SKX opened 11
13/16, peaked at 11 7/8, traded low @ 11 1/16, closed at
11 1/8, off 11/16. On Tuesday, 6/15, SKX opened 11
1/16, traded high at 11 1/4, and low at 10 5/8 where it
closed, off 1/2 on a closing basis.
I list this
trading record as 6/15 was the closing of June's short
interest. I must assume the June shorts were placed between
10 3/8 on 6/9 and the 12 3/8 on 6/11 or
With July short interest cut almost in half, it's
instructive to note at least half of the shorts saw fit to
Between 6/15, the cutoff date used for the June short
interest numbers and 7/15, SKX traded high @ 10 13/16 on
6/22 and low
@ 6 9/16 (intraday) on 7/15, closing
at 6 7/8.
The "fall apart" day for SKX was
July 6, opening @ 10, down 1/4 from 7/2. The July 6
open @ 10 marked the high, it's low being 7, closing @
7 3/4, off 2 1/2 points on volume of 2,078,500
which marked 29.69 % of the entire float (7 M shares in
With the short interest cut 50 %,
shorters aren't continuing to prey upon SKX at reduced
levels. IMHO the selling is coming from those who were
"harpooned" in the IPO and had their shares wither from 11 to
the low 6's representing an approximate loss of 43 %,
and higher than - 43 % for those who bought in the
A situation like this has a mirror side
to it. The mirror side is that what is someone
else's "refuse" can often be the "gold" others can find.
I say buy when "adversity" bounds and as painful as
the drop is for those that entered "too early,"
that's how "beneficial" this will turn out for those
with the courage to stare what seems as "adversity" in
the face and hit the "buy" button.
last forever. I've read the reports published by B. T.
Alex Brown and Prudential Securities in detail. I've
read SKX's marketing plans. Skechers is the FASTEST
growing footwear brand in the entire U. S. over the past
three years with sales growth compounding at a 50 %
annual rate and operating income growing at a 166 %
rate. Skechers had total sales of $ 373 M in 1998 with
B. T. Alex Brown calling for 20 to 25 % sales growth
per year over the next three years.
has grown at a faster rate than "any other" footwear
brand in the U. S. over the past three years.
could go on and on and give other comparisons as to
where Skechers (SKX) fits in the overall footwear
industry, but don't have the time now to do so. Suffice it
to say, in any comparison, whether it be comparing
SKX to it's competitors or any specific competitor,
SKX wins hands down.
It's always nice to see
your stock purchases to immediatly trade higher, but
the "real money" is made when you have ample time to
"load up" to your heart's content, taking full
advantage of those who are simply "jumping ship" for the
reasons I've attempted to state above, all of which are
"emotional" and not based on fact.
SKX closed at 6 1/4
in Friday's trading on 142,600 shares, considerably
reduced from it's average daily trading volume (according
to the WSJ - Yahoo doesn't post as yet). The last
trade of the day was a purchase of 10,000 at 6 1/4
removing the 6 3/16 offer and probably the entire 6 1/4
offer (but we really won't know until Monday's
I view SKX as extremely undervalued and continue to
load up at these depressed levels.
can you please tell me why youre sooooooooooo
quiet.is it because you swallowed something or you cant
pay youre electricity bill to turn on youre
computer!!!!!!!!i think its because youre an insider and youre
trying to hype this stock with youre
bulllllllllllllllllllllllll ssshhhiiittt. Skx is the biggest loser in my
opinion because theyre not original with their styles and
costumer service to other retailers they want all the
profit for themselves and that dosent work in this
bussiness you need other retailers to promote youre
you're looking at it pretty narrowly. To my way
of thinking, the stock is down over 40 percent over
a few days, and is starting to recover. It opened
at 11, briefly was up to 12, and then dove to the 6+
range for a couple weeks.
>>Just a thought--don't think a
company would want to put bad news out over
internet--perhaps company has a good story to tell--
It happened to me on HS when they broadcast their
1Q99 (3/99) results. They were expected to make 9
cents, but ended up breaking even. The stock gapped down
at the open from 5.50 to 4 7/8. But what saved their
bacon was an announcement in the CC of a so called
"investment" by CA into HS. Without the announcement, it would
have been a brutal bloodbath. I don't think SKX has
bad news in store for us. I'm just saying this
because a live CC on the internet don't always mean good
Yea, Right, I'm a shoe salesman. "What do you
need, a double E?"
Seriously, I'm not getting
all that excited about tomorrow's earnings. I'm
hoping and expecting that they are good but I plan to
hold 'til September or at least until after Labor
Reasons - I don't think institutions will enter or
initiate coverage (outside of those that did the IPO)
until they have more data aside from one quarterly
earnings report. I'm hoping that institutional specialists
will track and follow NPD, internal Retail, and other
P.O.S. data during the upcoming Back to School retail
selling season. I think those numbers will be positive
for SKX and create a firmer foundation.
Quarterly may get their attention, but good sell-through
numbers for Back-to-School will clinch involvement. Good
NDP/POS infers higher bookings for next year and creates
at least a mid-term level of confidence. If you look
at I-Watch, Retail brokerage is carrying a lot of
the activity - I'm betting on a higher return once
sell-through numbers are firm.
You have to remember,
this industry witnessed a lot of channel stuffing
lately (see: TNFI) and retail POS data is a good
confirming barometer of real consumer demand and strength of
business. I think SKX will pass with flying colors, but if
I was an Institutional broker, I'd want the best
data available before I made recommendations or
invested huge sums in SKX or any other stock in this
Then again, I could be wrong. This stock position is
mid to high-risk money in my portfolio.
real name is AL Bundy, the shoe salesman. Am I
right ? LOL at Mulberry for getting so serious about
posting. Try getting serious about cancer or AIDS. Until
you have either of those relax...with a can of spam
maybe, eh ?