Short OSTK

Nice call. Think with your dick some more, and you won't be volunteering in the soup kitchen, you 'll be supping there.

Fri Jan 30, 2009 5:33pm GMT



NEW YORK, Jan 30 (Reuters) - Overstock.com Inc (OSTK.O: Quote, Profile, Research) posted a small quarterly profit on Friday instead of an anticipated loss, as the online retailer avoided heavy discounts during a competitive holiday shopping season, pushing its shares up nearly 21 percent.

For the fourth quarter, net profit was $1.01 million, or 4 cents per share, compared with a loss of $6.47 million, or 27 cents per share, a year ago.

Analysts, on average, expected a loss per share of 3 cents, according to Reuters Estimates.

Revenue fell 13 percent to $255.86 million.

Overstock sells excess inventory of clothing, accessories, furniture and other items through its website.

Its results come a day after online retailer Amazon.com (AMZN.O: Quote, Profile, Research) reported higher fourth-quarter earnings, boosted by robust holiday sales, and forecast first-quarter sales above expectations.

Amazon's upbeat outlook and sales performance gave investors some relief from a stream of disappointing forecasts issued by major consumer companies, like Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) and eBay Inc (EBAY.O: Quote, Profile, Research), in the past month.

U.S. retailers endured their toughest holiday season in nearly four decades as a year-long recession, slumping housing market, tight credit and rising unemployment hampered consumers' ability to spend.

Overstock said that during the just-completed holiday season, retailers began liquidating their own merchandise through massive promotions and discounting.

"We chose not to chase revenues through marketing and heavy promotion: the result was a profitable quarter for us in what has been one of the most dreadful retail environments in recent history," said Chief Executive Patrick Byrne in a statement.

Spending on marketing decreased 40 percent in the quarter.

Overstock said it expects "a glut of supply" in the near term as retailers go out of business and close stores. It recently leased a large warehouse in Salt Lake City, where the company is headquartered.

Still, Byrne noted the push and pull between retailers anxious to reduce inventory and consumers unwilling to spend.

"My sense is there are a lot of folks who are just cleaning out their supply chain right now in anticipation of closing doors or closing 30 percent of their doors," Byrne said, speaking with analysts.

"On the other hand ... the consumers are sitting on their wallets."

Overstock shares, which as of Thursday's close are down 10 percent from a year ago, were up $2.02, or 20.7 percent, to $11.78 in early afternoon trade on Nasdaq. (Additional reporting by Alexandria Sage; Editing by Jeffrey Benkoe and Tim Dobbyn) (See here for "Shop Talk" -- Reuters' retail and consumer blog)

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Oh, and if OSTK"s shortsellers are so right, why have do they have to threaten and assault?? Whats' that about?

http://www.deepcapture.com/strange-occurrences-and-a-story-about-naked-short-selling/

Higher boys. Much much higher.
 
"According to the medieval Dutch scholar Erasmus, the saying came about as a result of the death of the Greek playwright Euripides, who in 405 B.C. was mauled and killed by a pack of dogs loosed upon him by a rival. Thus the saying is usually taken to mean that even the most lowly person will at some time get revenge on his oppressor, no matter how powerful the man may be.

The Greek biographer Plutarch recorded the proverb for the first time in 'Moralia' (A.D. c. 95) rendering it as 'Even a dog gets his revenge,' and Richard Taverner included the first version in English - 'A dogge hath a day' - centuries later in his 'Proverbes' or Adages' (1539).

What was virtually the modern form appeared in John Ray's 'A collection of English Proverbs' (1670) as 'Every dog hath his day'
 
Quote from nutmeg:

"According to the medieval Dutch scholar Erasmus, the saying came about as a result of the death of the Greek playwright Euripides, who in 405 B.C. was mauled and killed by a pack of dogs loosed upon him by a rival. Thus the saying is usually taken to mean that even the most lowly person will at some time get revenge on his oppressor, no matter how powerful the man may be.

The Greek biographer Plutarch recorded the proverb for the first time in 'Moralia' (A.D. c. 95) rendering it as 'Even a dog gets his revenge,' and Richard Taverner included the first version in English - 'A dogge hath a day' - centuries later in his 'Proverbes' or Adages' (1539).

What was virtually the modern form appeared in John Ray's 'A collection of English Proverbs' (1670) as 'Every dog hath his day'
More...

Yes, yes. And much later, the same sentiment was expressed by one, Joe Don Danny, when upon shooting his wife's lover point blank with a hammer fired double barrel 12 gauge, was heard to remark.........

"Sun don 't shine on the same dog' s ass everyday."
 
at 0.03/share profit the P/E is 366

To level with industry ostk's profit would have to increase 22 times and cash flow 5.42 times.
 
Quote from mrstocker:

at 0.03/share profit the P/E is 366

To level with industry ostk's profit would have to increase 22 times and cash flow 5.42 times.
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And if they call in the fails, by Wednesday, the PE will be 3660.
The shorts have bet the farm they go to zero. With carrying costs, reduced leverage, they are running out of time.

I don't know what you do, but I trade paper, or probably, to be more precise, Iou's.
 
downgrades at Stifel and BAC/Merrill.

You can set your watch to it.

If this is the best they can do, I would't be short.

Liz McDonald at Fox saying arrests are coming. Now why would the Feds grant her an interview?

Any arrests, especially hedgies are gold here. I think he sorta wins those lawsuits.

I have no proprietary information. Just the ability to discern chicken salad from the other stuff.
 
Looks like a great short.

Sales down, no growth. Just cutting down workforce to a skeleton crew to squeeze out a positive net profit.

I wonder why anyone would buy this at 10 bucks? It's a freaking penny stock.
 
Quote from Anaconda:

Looks like a great short.

Sales down, no growth. Just cutting down workforce to a skeleton crew to squeeze out a positive net profit.

I wonder why anyone would buy this at 10 bucks? It's a freaking penny stock.
More...

You might be right. But there are a few million shares that need to bought first.
 
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