unless margin calls or stopped out otherwise makes no sense. I was in at $59 and $60 and sold $61 plus at close yesterday back in near the lows today. I hope for some bounce in the next day or two. Can it be so bad to drop $15 in two days?
Off to the daily new all time highs so all the TV people can giggle at 4pm and say that's 19 Tuesdays in a row up. It's becoming way to easy to trade which scares me each day.
Should have sold yesterday I guess. One thing traders are doing with a lot of stocks is if the stock is near a 52 week high the run it right into earnings. That's the cue to take some of the position off the table at least. In past markets w/o the FED they would sell the stock the night before into the close in many cases. Who knows where BBY's share price is going but they missed revenue estimates by $1.3 billion and fancy accounting and cost-cutting can't fix that problem.
I remember one article here on Yahoo from about two months ago. The writer stated a trend which does happen a lot in markets and that is the ones they run up the most usually get hit the hardest during corrections. Time will tell if he's right.
Like I said earlier I want to see what the analyst say and if they change or boost their ratings. The problem with all analysts calls is there is no time line with their price targets anymore. If BBY does get back on their feet it will take years. In a normal market without money printing this 125% plus gain in 5 1/2 months may have taken a year or two at least if not more.
Pisani threw their report in with the other retailers that beat and said BBY's report was good. What schills these guys are on this network. He said a few times this morning that the report was good. None of these guys look below the headline numbers and actually tell you the truth.
I agree with some of your math but you have to sell stuff at higher margins eventually. Circuit City did the same stuff and the shares were also in the $20's before the slide began. Despite enforcing the on-line tax rules and other hopes AMAZON is still there. That's where we shop for the stuff that BBY sells.
They will use this as a trading vehicle today. Today's action will not tell me a lot it will be where the stock goes the next week or so. Traders will treat BBY stock like an elevator today.
They would push this green. Now they are dragging it back down. Maybe new shorts got in. I keep saying it nothing matters except money printing. When the Fed pulls back every stock goes lower for awhile.
That's it in a nutshell for now. This quarter and the conference call was "all" about cost-cutting....period! I guess we all figured this would be the story. Now what do the shares do?
First let me say Cramer is a clown but his words were "they should have been helped by the tailwind from housing". He's probably right about that. I guess this quarter is a start but where does the growth come from? This stock has been a monster so far and all I heard is cost-cutting will solve most of their problems. Yet I would not be surprised if the shares are higher today at 4pm.
It ended at 8:50am. Either this was scripted or he somewhere to guy. At least he's not like the last CEO that guy would have had a woman waiting in the next room.