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Non-Tech : BBY -Best Buy
BBY 70.61-1.7%Jan 9 9:30 AM EST
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To: Bruce Russell who wrote (107)12/26/1996 10:44:00 PM
From: DanZ   of 980
 
Frozen Bruce,

I'd be careful about drawing too much of a conclusion about full parking lots. There are a many reasons why you can't tell how a business is doing by looking at the parking lots. Here are some that I can think of.

1.) More people could be looking then buying.
2.) Some people could be stealing rather than looking or buying.
3.) The costs of doing business can not be measured by counting cars.
4.) You are only looking at one store out of many around the country.
5.) You can't measure the profit margin on items sold by counting cars.
6.) Analysts don't care how many cars are in the parking lot when they downgrade a stock.
7.) Banks don't care how many cars are in the parking lot when they quit lending a company money because their credit risk is too high.

Good luck with BBY. I tried to make a little on it last week, but the stock is just too weak and I got out about even (made 1/4 on one trade and lost 1/8 on the other). There is resistance on the daily chart near 11 and it is declining sharply. There is resistance on the weekly chart near 11 1/4 and it too is declining sharply. There is also resistance on the monthly chart but it is up near 14 1/4. I personally won't buy bby again unless it closes over resistance on the daily chart.

Dan

PS to Frozen Bob, I hope you got over your cold. I didn't see any sniffles on the screen, so I guess you are feeling better now. :o)
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