I see no news I have been reading that retail has been weak since Thanksgiving weekend especially since there are 6 less shopping days and the weather has been bad in a lot of places but I believe this may be the interview on Fast Money with Janney Capital's analyst David Strasser who is the most bullish with a buy and a $52 target sounded kind of whimpy about the current quarter and when Guy Adami asked if this stock could pullback to the low $30's and responded it could. If one of the most bullish analysts says it can pullback close to 20% it may just do that.
You are probably right since he is only concerned about where a stock is going and not where it came from. You have to be wary of him and his partner Stephanie Link's picks since they are perma- bulls and are not afraid to pump stocks at all-time highs. He has trained her very well.
I was trying to be nice since it is the holidays but I guess you are just a loser with the pointy stick still picking up cans and trash for the parks department. By the way BBY will be in the high $30's soon enough it's getting trashed so far in a strong Dow today. Don't say I didn't warn you. Remember coal stocks they are the BBY of 2014. Talk to you tonight when you get home from work. One question if you live in a snow state like me (NY) how do you get the pointy stick through the snow to get to the trash? Also my offer to buy any of your family members teeth is extended through Christmas. It would a nice gift for mom since she does allow you to stay in her basement. Happy FN Holidays you #$%$!
I thought this would hold near $22 but it failed miserably and closed near the low. I got in late $21.58 & $21.56 but I sold $21.64 in the AH I think this may drift lower tomorrow. The Hynix news is lingering it appears along with possibly year end profit taking. This Fed rally I think gets sold into very soon when the market starts to focus in on interest rates inching up again. There still has to be some more profit taking and tax loss selling before year end I believe. I guess we'll see what happens.
You're back as benny....wow! I missed you. I only trade this now in both directions but as an investment it has no appeal to me but it does appear that the shares have run out of steam for now and the trend is usually your friend and the stock seems to have no real catalyst anymore since the cost cutting story is almost done, comps and margins are still declining especially now with price matching, most analysts have done their piling on and their year over year comps get tougher in 2014. The Dow is at all time highs again yet each BBY daily run has been met with profit taking for weeks now and it has been making lower highs. Maybe the shares can keep climbing in 2014 especially after what we saw this year but their future earnings reports have to be about real growth, positive comps and margins. It's $3 off the high and never too late to lock in gains and nibble back in at lower levels if you want this as an investment going forward. Hey either way it's nice to see b_j_101 back. Happy Holidays! PS; coal stocks have been killed and they may actually run early next year.
David Strasser of Janney Capital has been pushing BBY since March 2012 I guess he was a bit early. He is still pushing the cost cutting which according to the company itself is more than 2/3 of the way towards their goal. He states their gross margins could improve with additional cost reduction through working with their vendors yet we have not heard that relating to either comps or margins at all in the past few earnings reports and with the price matching to compete with Walmart and Amazon how much more can they squeeze from vendors at this point? He was asked about if a pullback is possible and he said it could then he follows up with the comment "I think the quarter is going pretty well" with little conviction when he said it. These guys just make this stuff up and throw out fantasy scenarios. He says they will earn well over $4 two years from now. They will be lucky if Amazon does not stick the fork in them in two years. How can they grow anything going forward when they continue to discount like crazy and their comps do get tougher in 2014 which Mr. Strasser neglected to mention? This stock has had it's run is now struggling to go higher and the majority of the analysts who cover the stock already raised their targets before the last report so what do they do now they keep reiterating their views at every opportunity Strasser has a buy and a $52 target. The Dow made a new all time high today but BBY shares closed down .61 enough already with these guys we were overdosed with them before November 19th. This is now a trading vehicle it is not a real investment anymore especially with a 1.60% yield you can now nibble at great utilities like ED, SO, SPH, even T and many others that are near their 52 week lows because of the slightly higher interest rates with much better payouts and a guaranteed cash flow.
Notice he shut up and acted surprised this morning after Ford warned while he continued to push Ford recently. He may be rich but to listen to him is like throwing darts a stock list. He is always in it for his WS and hedge fund pals. Never forget he was and still is one.
Sold I mean I was long from the earlier lows. Was tempted to short that $15.66-.67 area it could not break it. I'll take my profit and let the dust settle on the profit warning unless we retrace today's lows.
Good news I found some of Sadaam's WMD's in my yard recently. We need to get even with him for knocking down the WTC. Do you have Rumsfeld's phone number?
For today it is. I was buying nice amounts around and under $21. I hope for a $21.75 or better close today. This story is based on the possibility of so naturally the sellers tank the stock for a quick gain. I've been in trades like that before. If the Fed does not mess up the markets later this will be back over $22 in a day or two I believe.
This may be an overreaction since it is only speculation now.
Why would I lie? I guess you don't read my post here I trade all day long. My advice to you is to put Antenna TV on at noon McHale's Navy is on then Dennis The Menace at 2pm then Mr. Ed at 3pm then Green Acres at 4pm so you can lighten up....that's what I do. By the way bought some F not far from the lows earlier.
This guy was swearing that Alan Mulally was leaving now for almost 2 months which kept shares on hold lately. These guys are clowns with their speculation BS.