it all depends on how the market continues to support retail stocks as we head toward chrismas. retailers are enjoying it so far this past week and with terrific economic data and fiscal cliff deal nearing, the sentiment is to push stocks higher. year end window dressing should help. i think there will be a few pull back, but the stock should head to 45 range.
More margin calls went out tonight, more short covering beginning at the open again tomorrow. It will just keep continuing. If you take a second to read Jim Cramer's book(desite his being a nut) he describes how hedge funds do this to each when they smell blood. A lot of greedy "shorts"(who knows why they remained short beside that as it makes no sense except for ure greed and insanity) are stuck in the headlights right now with only one small exit door. Just take a look at the volume the last few days. More than 3X normal. So basically hedge funds that weren;t short see an easy rip to $50/share based on the valuation of this company and the fact that more than8M shares remain short(4X avg trading volume). So they all piggy back on top of each other and stab the knife even further into the hedge funds that were/are short forcing them to cover at higher and higher prices. This is not over yet. There is no relief for the weary, only more ain. This is wall street 101 as well, when you smell blood, go in for the kill and slaughter the animal. eople getting slaughtered here. This is what they talk about. A lot of trapped animals taking a beating.
Shorting deckers does not make one bit of sense at this point it is suicide because deck has bottomed at 29 and is on the way up, great time of season for retailers and upgrades, also the sales on black friday for deckers was very high due to info i got from some retail managers. IMHO i think this will go to $40-$55 end of 2013