Yup... Not holding long through this weekend.
No worries... took my $977 gain in a couple hours and covered. Not going to hold short into earnings.
03/27/15 Bought 550 of CONN @ $29.243 -16,091.64
03/27/15 Sold -550 of CONN @ $31.05 17,069.19
Got 500 short at 28.99 through.... so I guess technically not... but 1 penny is close enough for me for now. Just don't know about this one. I'll keep it on a tight leash anyway just in case.
I don't know.... we're tapping on the ceiling here I think... gonna be hard to make a significant run from here in the short term IMHO.
I'll take $1,000 short gain for just a couple hours wait... No sense in watching it erode if CONN's turns north again.
I took a short position at 31.05... we have a couple days till we find out who gets the better end... but seeing we just dipped below 30.... I'll keep a stop in at 31... just in case.
Nice Furniture... okay... It's cheap furniture sold at a high price. You are paying for the 0% with overpriced "cheap" furniture and TV you can definitely find at a lower price without looking very hard at all. Let's just say you and I have different standards if you think Conn's furniture is nice.
Seriously! They cater to the low credit crowd as we all know and have felt the sting of that before... anyone with a decent credit score can and does shop at BBY or FRYS or SEARS or any other retailer for that matter... even Walmart will get better credit terms and also get the same TV or Appliance at a big discount to Conn's. I live in Texas... have been to Conns. The stores are less than impressive and I for one don't think targeting the folks with less than stellar credit is a winning long term strategy. We will see.
You know what... I shorted yesterday at 45.50 and covered today at 43 pre-market. Now' I'm long oil at 10.55 so wasn't looking for a home run, but got to 2nd base and that's just fine with me.
Very doubtfull... The damage is done... now damage control kicks in and once they dis-credit the method used and they earn the customer trust back which providing tests at no cost will go a long way to doing this LL will be fine. Don't get roasted short... it's already fell from 70s to high 20s... this is not a company that will having a going out of business sale. I would have no problem buying flooring from LL... I have done it before and will likely do it again.
I think it is folks buying in... not being able to stomach a small drop... covering at a loss and buying again a little lower... not being able to stomach a small drop and on and on.... This can whittle its way down like this for a long time... It's had the heck beat out of it but without enough people holding it'll continue to drop.
Hey... I'm long at 35,50 myself... but... I have to wonder what if the truth is out and it just isn't pretty. I don't know... but worth the risk to me here.
Funny... I bought 1000 Shares of LL this morning at $38.75.... now trading at $41.50... let's see where she goes.