Here is my update:
Im surprised at the strength of these sectors despite all the bad news. I believe the strength is coming from the upcoming holiday season, however, thats just hype and not true fact.
RSH- Slowly bleeding down further. Its really being stubborn. I'll consider a position in the mid-20s and expect further slow bleeding.
BRLC- CEO is probably going to make an announcement on or around 12th. In years past, the news the CEO announces has been bullish, basically guidance. However, in those days the stock wasnt bid up before the announcement. There hasnt been any good news this year so Im not sure if he will have anything good to announce. Its a little chancy getting in right now and I would wait until after the CEO makes his announcement. Last 2 conference calls have been somewhat disappointing and analysts keep lowering price targets. I posted in a seperate post that I thought a bid was being placed under it about a week or so ago. The bid was for the announcement that will come soon.
CC- Bleeding down nicely, but I thought it would be faster. I would only consider a long position in the 13s otherwise I dont want to touch it.
Sears and Home Depot not helping retail right now.
Be especially careful with BRLC. If the CEO comes out with negative or nuetral guidance on the expectation of positive guidance then there will be a waterfall selloff. Im unconvinced that the last huge selloff to 4.5 was on account of some rumors. There has got to be more under the blanket that will sell this down to 3.5.
Im surprised at the strength of these sectors despite all the bad news. I believe the strength is coming from the upcoming holiday season, however, thats just hype and not true fact.
RSH- Slowly bleeding down further. Its really being stubborn. I'll consider a position in the mid-20s and expect further slow bleeding.
BRLC- CEO is probably going to make an announcement on or around 12th. In years past, the news the CEO announces has been bullish, basically guidance. However, in those days the stock wasnt bid up before the announcement. There hasnt been any good news this year so Im not sure if he will have anything good to announce. Its a little chancy getting in right now and I would wait until after the CEO makes his announcement. Last 2 conference calls have been somewhat disappointing and analysts keep lowering price targets. I posted in a seperate post that I thought a bid was being placed under it about a week or so ago. The bid was for the announcement that will come soon.
CC- Bleeding down nicely, but I thought it would be faster. I would only consider a long position in the 13s otherwise I dont want to touch it.
Sears and Home Depot not helping retail right now.
Be especially careful with BRLC. If the CEO comes out with negative or nuetral guidance on the expectation of positive guidance then there will be a waterfall selloff. Im unconvinced that the last huge selloff to 4.5 was on account of some rumors. There has got to be more under the blanket that will sell this down to 3.5.
