BBY shares double bottomed the end of January and then days later again early February around the $22.20's now a month and a half later they closed Friday up about $4.70 off that $22.20 area of course if you were buying down there you have done well and of course if you were buying in the $40's in late 2013 you have a long wait to get back to even if ever. However the chart trend does seem to be heading from the lower left (since the drop in January) to the upper right for now and that is good if you one is long and bad if one is short. Breaking through that stubborn $26 area on a down day Friday may be a good sign for that trend to continue. Of course you are going to see pullbacks with some profit-taking (consolidation) if the shares keep advancing. The next earning's report will be key to see if the shares break $30, stay where they are or head lower.
I'm long but I saw that trade at 4:14pm to get the $7.59 close or it would have been a $7.52 close. Those imbalances show up at 3:45pm and on a quadruple witch a lot can happen in 15 minutes and in this case 29 minutes. It may have no bearing on Monday's trade at all. Look at the BBY closing trades there is a similar large short trade there to get that higher close too.
Actually there were two short trades combined of over 1.5 million shares at 4:14pm to show a $7.59 closing price on Schwab yet Yahoo has the 4pm close of $7.52. There was a quadruple witch today so the close may have been extended. There was a similar large short trade to close BBY .02 higher at the close. I see Yahoo just updated there close to the $7.59 while I was writing this.
When you say "they" how many have you been in lately? One, two, ten, fifty? You don't own the stock but are you short from lower levels? Despite all the volatility in the markets BBY has "possibly" created an up trend now that it appears to have finally broken through that stubborn $26 level. Now at the close today there were many short trades in fact one in the amount of 1,422,727 shares at $26.96 to actually bump the close up by .02. Maybe you see some consolidation in the shares Monday or maybe it goes higher but right now the weather is getting better in most regions of the country and I would think people will start to shop again. The chart of BBY is starting to look a little more bullish from the January drop on holiday sales numbers. Today's action all day long was impressive in the face of a quadruple witch especially in the face of the Dow dropping late in the session with a 165 point swing intra-day move yet it closed on the high.
Where can you go to find out about Solar at a retailer in your neighborhood? Solar stocks have been on fire the past year and growth is expected to continue. Anything Musk touches turns to gold maybe even if it is indirectly. I know it sounds out there but this market will run with anything with potential growth. Otherwise why is this up nicely unless it's just the fact that it finally broke through that low $26 level. Let's see if it can close above $27
One more note BofA did not get a piece of WLT's multiple deals on Wednesday and the next day they lower their target to $2. Nice timing too.
Gee how can MS and BAC be so far apart?
BofA did not get any of the action from all the debt deals that Walter did on Wednesday and there were about 5 book runners so the execs at BofA sit down this "young" women and tell her what to publish on her call all of which most investors already knew and put a target of $2 on it to shake out nervous longs. Yes Walter is buying time hoping for both demand and pricing to improve but these deals do push out that debt to the distant future and allow them to have adequate cash for two plus years. Now it's up to these #$%$ execs at Walter to figure out how to improve cash flow through whatever it takes starting with their own compensation. Yesterday's price action "may" turn out to an overreaction we will see but initially the market did applaud Walter's moves on Wednesday although one of the PIK bond deals did drop in pricing at the open.
but obviously institutions do and they are dumping that's why it's falling so fast in an up market along with the kind of late to the party B of A call today. Why should these execs give a sh-t?
I'm long from mid teens but why should they cover? This management team has been asleep at the wheel for a few years. These guys were sitting around waiting for someone to buy them 3 years ago which never happened instead they overpaid like the incompetents that they are. Today I believe is overdone based on an analyst telling us what most already knew yet the stock probably has not bottomed yet and will probably close near the low today.
Against them all a week ago via e-mail. The problem is that too many shareholders (many on this chat board) allowed them to stay when they were challenged by the outside nominees last year. I pleaded with people here to vote them out instead the geniuses on this board believed the firm was short the stock.
You have been right if those are your posts but $1 would mean bankruptcy and with all the future dated financing they just floated, probably at higher rates, I don't think you will see $1 any time soon but $5 eventually is not out of the picture. Now this Bank of America girl is a little too pessimistic I believe and has shook out a lot of people today with her pricing call. If you look at Walter's stock reaction the past day or so when they announced the financing it went higher so initially the market liked it. So this analyst has knocked down a bunch of coal names today. I think the stock will be over $8 again soon. Take a look at JCP at the end of 2013 and early 2014 a CITI analyst had a price target of $1 their problem was similar to Walter now JCP is at $8.44 after dropping under $5 a month or so ago. Time will tell if these incompetent execs get it right at Walter and pricing and demand picks up too.
Let me ask you honestly did you and anyone else here vote for the current board members when they were battling for their seats last year? I did not and pleaded with people here to vote for the outside nominees. Who knows if it would have mattered now but at least it would have shook things up, scared some shorts and replaced these brain dead execs.
However bond yields have spiked causing a lot of confusion and disconnect between what the Fed released and what she is talking about. I think the market has given her the "Bronx Cheer" so far for her first Q&A. Let's see how the market closes. A lot of this is machines having fun shaking out weak hands. I bought some here under $24.
Action seems strange possibly still held down by large option plays before earnings. As we all know this can also rocket higher out of the blue is a steady market also.
Sure looks like it Icahn is pretty busy chasing board members around he should take a look at his. Possibly needs to retest that $99 level it hit not long ago. It might do it today after the Fed news at 2pm.