It is hard to get a good reading on JBL with the earnings/revenues mixed in with the divestiture. I will be interested in what analysts say tomorrow.
My gut tells me he AH reaction is just that a reaction and not taking into consideration the divestiture. I think this is a good entry point based on the over reaction.
Big news indeed. Surprising that higher volume sent stock higher instead of lower. I wonder how far it will fall in AH and tomorrow morning. No position held.
You are correct. The tape is stronger than the fundamentals. Doesn't make technical sense that it should green today. But the tape says otherwise.
If "cloud" is so good, why are FY14 revenues and earnings a big miss? Cloud is just a buzz word to move the stock price. Reality will set in tomorrow morning on this over priced stock.
Earnings were modest, which is not good enough to support lofty valuation. PE is over 60 and PEG a whopping 3.5.
Somewhere in earnings they mentioned "cloud". That sent ADBE up and into great shorting range.
I agree. though there is a temporary pop in pre-market from lows as some analysts are trying to defend their previous positions. How often do we see "should be bought on weakness" by analysts after an earnings miss. Such manipulation
Many stops were hit forcing more selling on the way down. I agree that it is an over reaction. But I think that much of the reaction is technical as result of forced selling once stops were hit on a low float stock.
Seems like a fix in the components would help. Bounced off 2 year lows. Kinda crazy reaction, but with a low float stock this is what you get. Goes both ways.
Once Shorts decide the low point is near, they will start covering. The Low may be in now, around 51. If that holds, then expect short covering rally today and Monday.
I covered last night at 40.5. Bought at 40.2 and out now at 44.1. I don't see this getting much higher than 44 the rest of the trading day.
maloneksm, what pivot points are you using for fill the gap? 36 and 54? If so the gap should be filled around 45. Is that correct?
Based on that, I covered my short at 40.50 and went long at 40.20. What do you think?