Normally I'm not the kind of person to catch a falling knife, but at this point the stock looks good. (SMG) Plenty of horizontal support at $24. I'm thinking going long via options tomorrow at open. A modest bounce to 27 over the next few days doesn't seem out of reach. Any takers?
Hmm. California just declared emergency drought measures. Its going to be illegal to water your lawn in California very soon. Kinda impacts the lawn care product market dontcha think?
I'm not too worried about the fundamentals. This stock is down big the last few weeks/months and I think $24 per share is where it bounces.
In the midst of a national recall of a fertilizer that contained an unregistered herbicide, the Scotts Miracle-Gro Co. has told investors that it has found new issues with the registrations of other products. In a June 4 Securities and Exchange Commission filing, Scotts reported finding "certain discrepancies in its registration records with respect to several additional products."
1) You are trying to catch a falling knife. 2) The support level you show is many years old. That is no longer support, too old, you obviously don't understand the concept of support and resistance. 3) The stock failed to rally on Friday. With 10,000 stocks out there u pick this one? Unless...you are already what we call a "Bagholder".
Sprinkle some on your dick and wait a week or so and see if you have a good reason to buy a stock that is shrinking like you in a cold shower.
I don't have an opinion on Scotts...but, I won't be buying it. However, I had to point out that this statement is not only false, it is ridiculous. You are the one who obviously does not understand the concept of support and resistance, and should study more charts.
In the fourth year of a drought, I have a bit of experience in this. They tell you NOT to fertilize. Grass grows too much, demands too much water. So, I pulled it all out, and went 'zero scape'. And I think you'll see more of that as water rates soar (sic).