Down 107 at the low I guess the world is in a depression now based on this selling. I don't think it will happen but let's see if we made an intra-day bottom in US markets for now. This pounding on top of January's selling we must be close. There are so many stocks I would love to buy but it's probably still not safe.
I don't know if that's good or bad. These two brothers do see option moves before most. I guess it's definitely a better buy here than at $44. I think VZ which was taken down by the T new today is a buy down here. They just reported a very good quarter again however if the market is down another 200 tomorrow then nothing is a buy yet. You have to love the Fed they are finally removing stimulus and the world economies slow and markets start to tank.
9:13am back around $33 now. I would watch VZ today for a trade since it is down more and actually had a better quarter than T did recently and that does matter now that the Fed is pulling back.
I agree but this market now sells first and figures it out later. I have many T shares for decades along with VZ both are getting hit today. I would bet they will both come back by later or tomorrow unless the market tanks. This will probably be a buying opportunity especially with VZ which is down even more in sympathy I guess.
Considering the pretty good hits the Nazdaq has been taking in January MU has held in pretty well probably because the only stocks holding in are the ones that have reported good earnings recently. There has been a couple of those patented MU down flushed to the lower to mid $22's but each one has been a great buying opportunity. The only thing that concerns me is that the market in general seems very dangerous and easy to short an up day ever since the last poor jobs number and the Fed starting to withdraw stimulus. Is this a longer correction like in 2011 or is this near an end?
According to this article it seems LULU may have nice upside but may take time to turn around with their new leadership. BBY still has a shot for gains especially with their online transition and in store pick up which may help against AMZN but JCP is in intensive care. The one really surprising thing I read was that BBY's total sales since 2008 are actually up 20%. I would have never even imagined that especially after the struggles in late 2012 into 2013. The real questions I believe are is the world economy slowing dramatically, is the consumer slowing and have we seen a market top based on the prior jobs number and the Fed now withdrawing stimulus? It seems that those three factors may have put a halt to the market advancing for now. The jobs number this week will be huge......Half time Seattle's defense making Denver look like a sub .500 team for now and I don't see this changing in the second half. These Seahawks are the real deal it would seem. Peyton's in real trouble.
I'll take the other side why the collapse in a big up day yesterday? (HGG laid an egg yesterday may have had some affect). This is what this market tends to do the opposite of what we think and quite possibly you may have seen a bottom after the poor holiday update.
I agree about the shorts...Icahn is not buying but maybe Schulze and Joly should take some of those enormous profits they made from selling in the $40's and start buying showing investors what they think about their company and the share price down here.
Mine is not always full but it's in a big outdoor mall with a Walmart across the parking lot which is probably why the lot is usually about 25-50% full on an average day. Also it is a smaller store than some other Best Buys that I've been in.
Let's see if it holds we also saw about a total 6% Dow correction intra-day. Could that be enough I doubt it but I guess we'll see.
I'm not sure if they will be good but in-line may actually be good enough since the bar has been lowered a lot. Once again we all know margins will not be good but can they create a number through more cost-cutting that will please the market? The bulls can hope for a revenue beat despite the discounting that may help but they did warn of sluggish traffic which may have been weather related. There is one wild card is that if shoppers are using gift cards after Christmas that may help of course that will depend on when there quarter cuts off. All this may be tough to do in this market whose view of things have changed now that the Fed is starting to exit. There is still about three weeks to go from here.
I was thinking the same if the market closed down near 100 points you may see BBY close near yesterday's close. Sometimes stocks that make a crazy move one day come right back the next day. I have been seeing it with the tanker stocks recently. In this market that's a pretty big "IF" though.
Maybe there is something to the 50% retracement plus I still think a lot of yesterday's move was because of HGG's report which should not have hit BBY's shares as hard as it did in an up market. It is possible that yesterday shook out weak hands on good volume. The day is still young though and this could end up with a $21+ by 4pm who knows but it is hanging in there for now.
I wouldn't hold my breath for that price but the shares and business will find a level of where it should be. RSH will be gone within a year or two and SHLD who is supposed to be competition but I don't see it since their electronics dept. is the size of a living room and their prices are still too high and they have bigger JCP-like issues themselves. Most of us here knew $44 was a joke but I would be careful shorting down here since it is down 50% in about three months. Shorting here may get you a buck or two and that's great for day trading but if there is a market snap back soon this may be up more than a few bucks from this $22 level.
I said it in the middle of 2013 over and over here and on other boards. Now that the European and China numbers are not coming in like all the perma bulls on the airwaves were pounding the table for you have an adjustment period with the markets allowing the Fed to exit on a monthly basis with their treasury purchases. I would fall off my chair any time I kept seeing these experts saying that the markets were higher because of fundimentals and little to do with the Fed anymore. The market will find a bottom soon I would guess but I would guess a lot of hedge funds became too bullish into the year's end playing catch up and a lot are off sides now and will be dumping awhile longer. Best Buy will touch a 50% correction today let's see what happens.