Subject: Retailers
I personally think that BBY is overvalued, but haven't shorted it.
Today I covered half of my WDRY short, upset by a lack of follow-through on Asensio's part, or anyone else hammering it. I made a small gain. This is an extension of my "buy high, sell low" investment strategy: "cut my gains short, and let my losses run."
I used the buying power to buy some puts in NOBE, Nordstrom. Earlier this week, the company announced that their February sales are weaker, due in part to nasty weather in California, where 38% of their floor space is located.
biz.yahoo.com
The market seemed to ignore that little tidbit.
The company also announced that they were going to write debt (commercial paper) and buyback their stock. That seems sort of strange to me, and S&P wasn't too thrilled about it, either.
biz.yahoo.com
I was pleasantly surprised to see ITWO drop nicely today. If it drops another point and a fraction, I'll be in the money, which would be a nice feeling.
Then there's SEBL and YHOO. Oh, well; at least I'm not short AMZN... |
