HOTT is actually having a bull run. Where I live there all these emo hott topic stores its pretty big here. I could easily see it becoming a 50 state chain.
???????? Hot topic has been around for years, I wouldn't even think of buying that stock, yea sales were good for halloween however that emo/goth look is quite done with and has been for years especially the gothic look that hott topic is known for has been done with since the late 90's. Not even worth an investment, I wouldn't be surprised if they start closing some stores sometime over the next 18 months.
Early this morning, I placed HOTT on my "short this puppy" list. The setup is complete (failure to make a new high). New 52-week high was hit today, but just barely at the open and likely a result of short stops getting hit. So we have a double top at 52-week highs, a 70% gain in 5 days, and a price that's a mile away from its moving averages. Short, short, short....
Back on 11/10/08 I wrote a note wondering if this thing may have put in a bottom. I pretty much forgot about it after that until today when I noticed it in the WSJ new high list. The average volume is increasing weekly as it moves up. However, what I like most about this stock is that it should NOT be moving up in this market. If a stock moves up when it shouldn't be, it's sending a powerful signal. I'm putting it on my watch list to see how it comes out of it's next dip. If it comes out strong, I'm a buyer. EDIT to add: Oh shit, I just saw their clothing line. Oh well, that's just all the more reason the stock should not be moving up. But it is.....
I just bought it at 8.29. When I did a search for HOTT, I see that one of the mods closed the thread and demanded that the poster put it in a journal. I don't really trade often enough to keep a journal.
Moving up nicely yesterday and today, but I wish there was more volume. I'll feel better if it breaks through 9 and stays above it on the next dip.
Looks like it will be in the 52 week high list tommorrow. My December is riding on this stock, it's the only position I have. All it has to do is stay above 8.29 for me to put this month in the win column.
The retail sector is still getting terrible press, nothing but gloom, doom and store closings. Hopefully the contrarians will see HOTT making new 52 week highs and get drawn in. Now that the holidays are over the volume should pick up and that should also draw in the IBD crowd. I'm starting to feel good about this one....
How odd ..... It gapped up huge at the open and then tanked pretty hard. I didn't read the earnings report, but the headlines for it seemed positive. The gap up was at 9.50 which gives it another 52 week high.