Doesn't seem that $35 is the resistance level that some expected. Again, I must state the obvious that as this stock goes up all the naysayers are very quiet. I will commend Timberlandco for at least giving his honest opinion and how he was betting. Any updates now? Where is Arthur4up? Sorry mikey, gluboy, and sprintpcssucks, you are all on my ignore list because you have nothing worthwhile to add. How about everyone else? BCU, Cobra, MauiMark, what are your projections? Sorry MrStock, you are as bad on the hype side as the shorts are on the other. Once again I will state the obvious, this board is REAL quiet when this stock is moving upwards.
I agree with you that it is quiet. Perhaps that isn't such a bad thing. As for the stock, it is obvious that the re-emphasis on parts and accessories(which contribute heavily to the bottom line) is paying off for RSH. I expect that the stock will level off in the $35-37 range through early fall, when the long anticipated launch of 3G will push people to upgrade their Sprint phones, and of course, need to buy all new accessories for them. If Verizon speeds up their 3G rollout, then the bump up to $40 could occur sooner rather than later in the 4th quarter. Jan. 2003 I expect the stock to be at the $42 level.
The latest advance has been almost parabolic on lower than average volume. The current price is overextended well beyond any moving average and a pullback to the low 30's at least seems likely. With a P/E of 37 I do not see any immediate further upside potential.
Suspect management is committed to keeping it above 30 to deflect critical shareholder comments.
Like Timberlandko, I am still short, still profitable and believe the risk is to the downside due to unresolved company issues.
Thanks Bizzy and Timberlandco, this is what a finance board should be - on honest exchange of information. To give you my opinion, based on what the company is doing now, focusing on profit (like the old days) and not so much on sales gains I think a price of 40 is not out of the question. However I also think it is approaching that point too quickly and we will probably see the pullback you mentioned Bizzy.
Thankyou for your commendation. Whether commendation or condemnation, I acknowledge only those comments to or about me which come from responsible, adultly-behaving posters, among which you certainly are numbered. I view the $35 close with mixed emotions; if its still up there at option settling time for this month, I'll get bit. I really anticipated a large sell-of at this dollar point ... I'm somewhat taken aback such did not occur. The next few days will be critical if this stock is indeed to advance to any significant degree. On the other hand, it is a good sign for those who depend on this stock. As I have said before, I "play" the market, and so far this year, I've done handsomely shorting RSH (along with a couple techs and some telcoms ;-P). From my readings and research, I see no reason to expect continued upward valuation; quite the contrary, in fact. The shareholder's meeting will be interesting ... there should be some very tough questions posed to the board. Again, for the sake of those who depend on this stock, I'm glad for you. Personally, I'll continue to bet short. Its worked well for me so far.