Should've listened to me and sold this garbage.
Funny thing is I think there might be a brief rally following this NPD report. Very few new releases last Qtr should benefit GME's used business.
Hmmm...maybe I should buy some calls with a Fri Exp
"MAs are just everage prices...they don't mean anything else! "
Haha.. as opposed to other technical indicators, which have some sort of supernatural ability to predict future stock prices..
I can never really understand why people put so much focus on Moving Averages? If you're a technician then you should've noticed that GME has broken its downward trend and retested it for resistance (21.00). now we need to see if it'll break 22 or fall back...if it does then it could signal a reversal. MAs are just everage prices...they don't mean anything else!
You have to believe that all this negative news has been factored in and at some point the stock should rebound strongly. Unless you live in a cave, most investors understand that the highly anticipated games will soon be released and that it is dumb to simply focus on current sales. Should the stock fall further, it becomes a bigger buyer opportunity. The low PE, the insider buying, the strong balance sheet, the possible reduction of the console prices, the anticipated strong sales of video games...what more could one ask for here????
Why would the NPD help GME? Does it show used sales? I didn't think that it did. And my fear is that even though used sales should carry GME to the promised land more than any other category, a poor NPD report will send all of the misinformed masses running from the stock.
I think it does show used games. Also remember a report was released saying analyst expect about 20% decline yoy, that's why game stocks have been performing poorly these last couple of days. If NPD data is better than -20%, then we get a rally...in other words a bad report has been priced in.
Oh, and I did end up buying 22.5 Fri calls.