Since my last post on Guess, GES Revisited,  the stock has continued to decline and is now circling the drain. Buyers or short covering must happen soon or the stock will break a 10-month line of support.
RSI(2) and Stochastics are near oversold, so a bounce may be in the works. However, I have a gut feeling that [[GES]] will break support and go lower before bouncing, but I would not bet the farm on that hunch.
Keep in mind the company beat and raised estimates during its last earnings release. I feel strongly that value investors will step in at some point and provide some support, but it is hard to predict when GES might start hitting value screens. On Thursday, GES did put in a bullish hammer on good volume, so it may be that value is already establishing a position.
Overall, this leader and strong retail/clothing company selling off the way it has does not bode well for the economy or for consumerism.
Until the downtrend line is busted, this remains a great short.
Full Disclosure: I’m short GES.
UA sitting at an interesting level.
PS: Please do not post a picture of your tool.
nice
on the short side, check out TCO SPG SLG
all in commercial real estate which is showing signs of going into the crapper
I think these have a ways to drop
Juice, some good picks.
I’ve also been looking over your Steel picks as longs.
thx wood .. add CLF to that steel list