So much negativity the past week or so it's amazing how things turn so quickly. Earnings will either confirm or disprove all the recent negative chatter. Is still believe they will show growth since the Elpida acquisition is still in the early part of the earnings story but the market is still infatuated with pricing.
Yeah maybe that's true but that opening quick drop was done buy HFT's and software along with hitting stops on the way down. Then you have the constant Greenburg story on CNBC. This is what hedge fund guys do they use the airwaves to push their positions go look for Cramer's videos on line of how he and his fellow hedgies used to do it and even admitted using Pisani as their mouthpiece. Cramer has been doing their work on MU for more than a month now and he now has Herb to help him since he works for Cramer. Like I said they may turn out to be right but if MU beats and guides higher then we know exactly who they were helping for the past month plus.
There have been quick moves in quick spurts up and down all day long. Individuals are trading between the moves and then these quick moves. Today it is much more visible.
Good point but they must not hint at any weakness in the business, demand or pricing during the conference call. I thing they at least meet or beat but their guidance will dictate where shares go. You have a nervous market in general and people are quick to sell everything and we can all bet that options have had a lot do with the action lately.
Now it was at a 52 week low just over a week ago and it is actually up about $8 off that low. The earnings report today was actually a slight miss including possibly their guidance for 2015. However their same store numbers were good again but it is all about their credit division which has made the shares collapse the past year. Just the notion of improved delinquency numbers has the stock flying today. Possibly BBY shares will act the same way (being they were slammed like CONN's recently) when they report with better numbers where they have been weak in the past. BBY's on line numbers has been growing substantially but maybe the key will be beating their revenue numbers estimate. If they ever announce a buyback I think the shares move at least $2+ higher. All just speculation until they report but then again it seems that 75% of what I read is just speculation.
possibly Game Stop or oil near $102 having an affect or something else going on. The way machines and options are working lately in a lot of stocks who knows? Right now at 11:24am it is acting very poorly.
Hoping for snap back the next day or two or will add more if it drops. However I did not like the action of either FB or the market late in the day mostly due to Obama sabre rattling overseas. I can wait I guess but if Zuck wants to throw some more money away I have some old helmets and masks in my garage. I'll discount them for him on sale for only a half of billion. He had better realize that the market will punish him if he does not stop throwing money at what appears to be nonsense.
It's not half but I think most on this board who followed 2013's move for BBY shares were all surprised at the ridiculous move from the $11.20's in January to $44.66 in November based almost all on cost-cutting and that usually peaks at some point without final demand (growth in sales) justifying such a monster move in about 10 months. Markets almost always overshoot in both directions which it did with BBY in 2013. I was shorting the pops in the $40's now I have been buying in the mid $20's to me that makes some sense. I'll admit I'm not doing it for the OK dividend which I will catch this time but more because it appears to be heading back toward $30+ if their next report is good which I think it will be. It has stumbled the past few days but so have almost all stocks. After a weak start today BBY held in very well late considering the horrible market close.
Along with Obama's strong words against Russia. I posted last night this would not hold last night's after hours move. Ironically it closed below where I sold at $11.85 at last night's close. True it was exaggerated by the intenseness of the afternoon selloff but it was trying to hold $12 before the late down turn. I'll be looking for possibly a lower entry point again like Tuesday. I don't think you see the $11.20's again but around or below $11.50 would be good.
Cuts WLT to neutral $25 to $8. They are not alone with cuts like this recently. I guess someone threw cold water on their analysts or woke them from their Rip Van Winkle sleep. I guess the one positive is that there have been downgrades throughout the sector which is needed to create and industry bottom. Now the Walter dream team must execute (pretty funny) especially with cost cutting and find other ways to streamline their business until demand and pricing rebound if they do. UBS did the same with ACI today which has been stuck in the $4's for a long time. The coal alarm clock went off today at UBS.
Of course they did are after the bell because I sold from the lower buys I made in the session and sold it all at the close because I figured that it may test near those lows again tomorrow. However I do believe this $12.20-.50 area will fade Wednesday or Thursday because this is just speculation that someone else will come in and buy Himax.
It bounced off this level not too long ago. However this stock act's like garbage everyday it seems so it would not surprise me if it breaks $99. Carl should start harassing his board members and start focusing on his shares instead of all the other CEOs and boards he keeps attacking. Down over $40 in months and he criticizes so many other CEO's and boards he should take a long look in the mirror.