How can people here give a thumbs down to a Happy Thanksgiving wish? The thumbs-downers must be having TV dinners alone on Thursday.
One might think the loss may have been in the price already. With oil at these levels what would anyone expect a this point? Additional cost cutting and their delisting overseas will save some money. If this closes near flat that tells me the share price is still tracking oil for now and likely going forward.
Just offering him some advice obviously in your world all stocks go straight up especially after "one" good earning's report. If and when ANF is where I posted it might be in December I'll be looking forward to your response when I post something then. ANF is a very cheap stock price to earnings no? If short interest has dropped in the past week there will be no reason for this stock to go higher than where it is.
Depending on where you are short from I guess be patient. If you are still under water in late December use ANF as a tax loss to offset gains if you have them or you can carry some or all of the loss into 2016 tax year also (up to $3,000/yr) if your loss is larger split it between the two tax years. I say be patient because here is what I believe will happen over the next month....fund managers are still chasing performance to meet their numbers but I believe you will see some selling across the markets in early-md December some of it will be for tax loss and some will be because earnings are just decent not great. High P/E stocks will get hit and ANF has moved up $7-$8 since they reported I think you will see some consolidation back to the $22-$23 area if that happens. Now you cannot forget that ANF has a pretty big short interest so a lot of this recent move is probably short covering and you can see these rip your face off rallies like the last week and do not forget about holiday volumes which makes them easier to happen. Possibly short some more higher but you must wait 30 days to cover any of your position to capture the loss (wash rule). These are some of the things I might do if in your position.
The drop into the close should make tomorrow's trade interesting. I thought it would have held on to more of today's gains considering the way it acted on each market pullback the past few days. $18-$19 to $26-$27 in a few days mostly on short covering I would guess this will now create a battle between the buyers and sellers at this level I believe. This is an expensive stock.
Like I posted days ago when this scam began I smell a round trip. I think it settles where it came from a few days back between $9-$14 then back to single digits. You know this Jared-like munchkin is dying to sell if he has not already.
The party appears to be over courtesy of the Fast Money Gang. I would not be surprised if Dan Nathan and his friends got shares and are all over this today near the highs or are doing it with options.