DOWN-DOWN-DOWN! Flirts with a even-dollar-figure ($29 in this case), makes a couple of week attempts to tread-the-line, then gets stuffed eod into the ditch! That's classic "short-noose-control" and to hear all these "hopefuls" talk about sunny rainbows ahead, make me want to...
This could well be the "perfect short" even at this level---a fad product, a week CEO, corporate blunder-upon-blunder, a "seasonal product" that accounts for over %50 percent of revenue!
Maybe the only way to get some of our money back is to "join-the-short-lobby"? Any other longs thinking the same thing?
I bought in at 37, just last week, so, I'm on the side of being a Hopefull long. and banking on this stock being oversold and undervalued. doomed and gloomed to the max.. and the only interesting action is when shorts get bored and start moving on.. then the new share holders ( optimistics ) will drive the price higher.
If you're thinking of shorting, doubtful this is now the place to to that, there's problaby a hard stop about about 20, no matter what happens, the company has too many other brands and possiblities to be held low for long. (not to mention the new stores they are opening. )
Shorting possiblities: Check out Amazon and their PE and Forward PE.. now there's something with a lot more meat on the short bone... .. IMHO..
To make the most money you have to do the opposite of what is popular SOMETIMES... it is 40% popular to short here.. that seems a bit overdone for a company with $3.45 expected earnings..
I kind-of agree that max-pain here would/will be $20, and $18 if the Winter is burning hot and we fall-off-the-fiscal cliff! But I'd have to feed this turd more money to ride it down that low, and I'm sure not doing that!
But I do agree about "market psychology" and not riding the herd! But this thing really sucks here!