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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (33436)	8/31/2000 12:23:32 PM
From: Rande Is	Read Replies (3) of 57584

Buying BBY for Long-term hold and Position Trade into Playstation II release and Christmas season. . .this will be by far the most electronic holiday season ever! CC also slammed, but not as much as BBY. . .and it is still fairly low. BBY at $61 is very unusual. Last time we traded BBY, we sold it over $90, as I recall. Their latest sales report was not bad. only a 5.1 comparable store sales increase over last year, but we are talking about the slow summer quarter. . . and with every kid I know saving their pennies for the PII and its games. . it is no surprise. 18% rise in sales is no reason to take the stock down 13%. Placing buy orders here under $62 just after noon today. MINNEAPOLIS (CBS.MW) -- Investors sold off shares of Best Buy Thursday even after the electronics and computer retailer posted record sales for the second fiscal quarter. Shares declined $8.56 to trade at $62.44 as 3 million shares changed hands. Best Buy (BBY: news, msgs) said its sales rose 18 percent to $3.17 billion from $2.69 billion in the year-ago period. Comparable store sales rose 5.1 percent. Best Buy said that sales of digital cameras, camcorders, and televisions were strong. Best Buy will announce its second-quarter earnings Sept. 12. The company is expected to earn 34 cents a share in the August quarter. This is my favorite retailer. . . and I am amazed at the price. What an opportunity. . . with PE at 35, yet reporting 18% growth. No rocket science here. Rande Is

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