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Strategies & Market Trends : Value Investing
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To: Bob Rudd who wrote (11552)1/4/2001 3:32:27 PM
From: Bob Rudd  Read Replies (1) of 78505
 
Shorted BBY again. This time @ 39 7/16. If the PC biz is punk - and despite a small, losing position in Dell, I think it is [Not that PC's will go away - but the biz is sick for now] - then what happens to a retailer that gets about 35% of it's sales from "Home office' and 19% from 'Entertainment software' [Not all of Home office is PC's - but a chunk is PC/PC related, and PC software is probably less than half of 'entertainment software'] but PC stuff is probably about 30 to 40% of of BBY's total.
Yes the Fed raised rates - but look at average lag time for rate cuts to turn the economy - the more important message of the extent and timing of the cut is that AG thinks the econ is in the dumpster - and that torpedo is headed into BBY's numbers now.
This is a small, speculative position. It's partly technical in that I see resistance @40 which if breached significantly will have me buying back at a loss.
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