When you have a high PE you get punished if you miss. In this market you are going to get a little harsher treatment as the buyers are not around to support the stock. Companies that are beating significantly are getting clobbered if they lower guidance. Five is now lowering revenue guidance for the year. Looking for some shorts to take some profits so I bought some at 33.80.
They missed on revenues and are lowering revenue for the full year. When you have a high PE like FIVE it is easy pickings for the shorts in a market that is trending down. Those that were the buyers are the shorts so far less buyers available. With retail sector doing so poorly this nice drop may have some of the shorts covering tomorrow in FIVE.
It will have a nice move up some day. For the most part they move it up some and then down a lot. I am just trading for the day. I have been shorting and covering later in the day. I shorted again here at 51.95. No volume. Market makers teasing folks into thinking it goes up and them they can drop it quickly.
Can not really explain yet this market is being extremely manipulated with permission from the SEC. Look at an over 1000 point move down at the open of trading one day and then gap ups another day. This is wall street making hundreds of millions of dollars at the expense of the retail people. It has become so overt yet there are folks that say this is just a conspiracy theory. So wall street will decide they will take a stock like SPLK down after earnings one time. The next time it is gap it up and keep it running. Much is just a guessing game for retail folks. One needs to be very careful especially with market so volatile.
With lowering of earnings for the second time this year and the terrible quarter, there is certainly no reason to hold it. Another new 52 week low coming. See ADSK falling much further in the coming weeks.
Even JCP moves up more than KSS on a good day. JCP up over 6% while KSS up less than 1% on a day DOW up over 360 points. Looking for lower prices again today in KSS.
Think wall street is still short KSS and will move it back down again. They still have to cover this before it has a significant move up. If it closes above 52 I will cover. Wall street has this market on a string and having no problem moving it to make themselves multi millions.
Of course wall street will do the opposite to what you think. Good volume on the buy side. Market has gone significantly higher since then. Wall street manipulated the whole historical last five days including today and they have made a bundle while a lot of retail and mutual fund folks have got burned.
Well now the Dow is up 250 points and KSS is down 40 cents. Wall street still short and will need to cover before this goes up. Will go much lower if market continues down.
Market moves up 3% with KSS up 1%. When market down 1% KSS down 3%. Would say this is still in a big downward trend. Admit I covered yesterday in the early morning now looking to short again. Will give it a few days to see what wall street does.
Continuing to make new 52 week lows. Moving down more into the afternoon. Again, do not see real buyers in this. Shorts covering. When they decide not to cover a bunch they just make a market for the stock to move down.
It has to work very hard to move up. The shorts that are covering just remove their bid and it goes down very quickly. May be a lot of margin calls in this stock. Most Chinese stocks have come back real well but this is still down 14% for the day.
These market makers are dropping this stock on no volume. Think they it run it back up some. Have no idea where it finished at the end of the day. Could be a very black Monday. Some one ran these futures down on little volume early this morning. This is still the USA not China. Not saying their situation doesn't affect us but not to this extent. Of course wall street marches to it's own tune.