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Tuesday Morning Corporation Message Board

  • longtimefollower longtimefollower Aug 28, 2013 10:10 AM Flag

    DOUBLED my short position this morning.

    Becker Drapkin knows that there IS no turnaround yet....and selling at $14 is prudent. (You gotta feed the chickens when they're hungry.)

    This short position is now 3% of my portfolio.

    If I had to guess, I'm think it's going retrace to $10.50-11.00. $9 at worst.

    Sentiment: Sell

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    • Concur. TUES is still a huge short, even after the slight drop from $14+. I'm positioned that way. For grins, yesterday I ran my own net orderly liquidation assessment of TUES and came up with around $2 per share; $6 book value is irrelevant. That means more than $10 of the current valuation is coming from the going-concern value of the company, which makes little sense fundamentally. TUES is a small, persistently negative EBITDA company that has to execute a monster operational turnaround against the likes of TJX. Let the hate mail begin ... but that's the reality with respect to TUES.

      Sentiment: Strong Sell

    • Its important to remember that they didn't start selling at $12 or $12.50, all their sales were ABOVE $14.

      That's a price-sensitive seller.

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