I don't get it. This panic buying and selling for no reason or even worse the wrong reason. I bought more this morning and will on any pull back. If it drops to the low 36 level, it is load up the truck time. Sheeeeesh.
Bought more today on the value investment premise. Spanking of the past week is completely disconnected from reality. Kohl's inn JC Penney or Sears (or even Home Depot).
The last 3 years charts tells that this will go back to 43-45 in Q3 end and 50-55 in Q4 end Q1 and back to 45's in end of Q2. Also by balancesheet this is way better, and safer than M or other similar retailer.. it is near to ~7-8yr lo and with great PE. This should be an easy buy with minimal downside and 15-30% upside in an year
Time to load up if there ever was one. I can wait for sanity to prevail. We get 5% dividend to boot. All in all a win win situation,
Should close 39.50 by EOD
Macys does badly and it is down 3% and Kohl's does great and it is down 8%. go figure.
Methinks retail is going to rally tomorrow. It's about time.
Never learn my lesson. Actually thought the market might act rationally this time around. I guess I'll be selling before earnings every time on this one, an buy back later once the PPS has been beaten down.