October total NICS background checks 1,687,599, versus 1,614,032 in October 2012. Keep in mind that 2012 figure contains a 200,000 error double-counting Kentucky, which means the NSSF adj NICS checks will exceed 2012 levels by a wide margin..
Confirmed, Wall Street is stupid about guns. They put out these hit pieces today on "slowing" gun sales. To justify their hit pieces they claim last quarter represented a clear slow-down in gun sales. Well, duh. Last quarter included July, August, and September, which are slow Summer months for NICS background checks. In other words, Wall Street misinterpreted last quarter as the end of the gun boom, when it is only a seasonal slowdown.
Check out the SA hit piece just out where the author totally confuses this issue by stating that adjusting for the KY discrepancy or change in accounting makes the comp worse not better! What a maroon!
The author is correct about Kentucky NICS checks jumping up by 200,000 in October 2013, due to double counting. I missed this. However, the 2012 NICS checks contained the same Kentucky error, which means the NSSF-adj NICS for October are going to mirror the raw data, and will be another record.
Also, the SA hit piece quotes the Scott Hamann lousy earnings estimates. Anybody can see that RGR is selling every firearm they manufacture, there are more work days in fourth quarter versus third quarter because there is no one week shut-down, and Q4 earnings will be almost exactly the same as the red-hot second quarter.
What's different now, compared with the beginning of the year, is that institutions own about 85% of the shares, and they are less susceptible to the bullying and bluffing and manipulated news stories, compared with individual investors. Also the forced selling by politically correct institutions has ceased. Rather a different environment. Therefore, I predict there will be less down-side volatility for Ruger shares.