My take on this is that there are too many speculators with weak hands getting spooked
by the lack of pre ER run up. Something wrong they think. Tomorrow we should have the
run up we've been expecting. A lot of people will be left behind. Expecting $95 +
Basically, yes - it is people who did no chart checks to see what this has done prior to earnings in the past and bought at 85-87 expecting it to continue running, which it does not do normally. I used yesterday's weakness for more calls, and going to use today for the same if it falls.
BTW, did anyone spend the time to read M's conference call yesterday? Said strongest sales were cold weather apparel and accessories. I am amazed that the estimates are only 3.77 when this made over $3 two years ago when margins sucked, less stores, and a mild winter.