Resistance proved strong at the mid level BB, and it's making lower highs.
This is clearly a downtrend. I still say it will go to $40, I'm not sure about $31.
There's nothing fundamentally wrong with RVBD, in fact it's a great story.
But if you look at a monthly chart, you'll see the parabolic move and the doji print for Dec.
What this means, IMHO, is that RVBD will probably correct to about $31 before becoming a buying opportunity for 2011. Don't shoot the messenger, I'm just reading the chart.
The street usually gets it right, but not this time.
In this bull market where everything is going up, this quarterly report is very disappointing.
While you're at it, why don't you write to Morgan Stanley and complain they only present what they think are the upside catalysts, and not all the risks and headwinds?
The $50 PPS target is a 12 month target.
That means there's $8 in upside from here for the next 12 months.
I don't see the point of buying it now.
So their overweight call is for $2 in upside from here, for what, a 12 month PPS target? Then what, it reaches $17.50 in a month or two and then they downgrade it?
I absolutely despise analysts and their self-serving manipulative agendas.
They missed their numbers. How can you trust a company that raises guidance...again (they raised it last quarter), and then misses badly?
And how can you trust all the other bullish predictions for the economy?
This president has been on Letterman, Oprah, and the View.
Nothing he does surprises me. I thought Clinton was over the top when he played sax with a group on stage.
This Obama guy totally dilutes the role of Commander in chief. Meeting with the CEO's is politics and PR, nothing more.
Did Cramer in fact recommend buying BBY ahead of earnings?
Today he'll say not to buy BBY, and buy AMZN instead.
They really need to take him off the air.
But Cramer will say that's an isolated case.
He'll say don't buy BBY, buy AMZN, or TIF, or others.
I say BBY is indeed a proxy for the consumer and consumer spending.
But of course the broader market will ignore this news.
Someone or something just erased all the up futures, they're now trending down.
First line of defense is the dip buyers, aka bag holders.
If I've said it once, I've said it a million times.
Unless the major indices back and fill like a normal market, longs will be very disappointed very soon.
The markets have gone parabolic since Sept 1.
I read that last night and was going to post the article.
Reuters stated that they "stand by their story."
Also, I understand the US Justice Dept. is now a plaintiff in 1 or more cases.