Here is my update: Im surprised at the strength of these sectors despite all the bad news. I believe the strength is coming from the upcoming holiday season, however, thats just hype and not true fact. RSH- Slowly bleeding down further. Its really being stubborn. I'll consider a position in the mid-20s and expect further slow bleeding. BRLC- CEO is probably going to make an announcement on or around 12th. In years past, the news the CEO announces has been bullish, basically guidance. However, in those days the stock wasnt bid up before the announcement. There hasnt been any good news this year so Im not sure if he will have anything good to announce. Its a little chancy getting in right now and I would wait until after the CEO makes his announcement. Last 2 conference calls have been somewhat disappointing and analysts keep lowering price targets. I posted in a seperate post that I thought a bid was being placed under it about a week or so ago. The bid was for the announcement that will come soon. CC- Bleeding down nicely, but I thought it would be faster. I would only consider a long position in the 13s otherwise I dont want to touch it. Sears and Home Depot not helping retail right now. Be especially careful with BRLC. If the CEO comes out with negative or nuetral guidance on the expectation of positive guidance then there will be a waterfall selloff. Im unconvinced that the last huge selloff to 4.5 was on account of some rumors. There has got to be more under the blanket that will sell this down to 3.5.
RSH down another $.80...it's melting. Looks like no one has confidence that they'll hold on. They can only cut so many ugly stores before their horrible growth is the only thing left out in the open. Nice!
Looks like the news is out on BRLC. BRLC took a resounding dump on high volume at the end of the day. We dont know about the news, but someone else sure does. Look at how it dumped nice. Probably be a press release out in a day or two and then there will be the real selloff. RSH and CC still continuing their slow bleed. Maybe someone is accumulating on the way down???
RSH down today...someone is liquidating their position it seems. That stock popped with the market and has been sold off immediately. Great! Last week I thought I was going to take a huge loss on my July options, already sold some at a decent profit and will probably be able to unload the rest for an even better profit. My August and October Puts are looking especially nice now! Glad I kept adding and adding when the stock went higher recently.
CC reached target. New target price is 15.50-16.0. BRLC...look for pivot point between 5 and 6. RSH...bid being thrown under the price and someone accumulating. Uncertain of target, news to be announced in near future.