I decided to short RL last thursday believing that the poor performing economy and reluctance of consumer spending will effect RL's profits and share price.
The opposite has happened and its been gaining for the past 5 days straight.
I shorted at 44.38 and it closed at 47.55. There hasnt been much news on the stock.
Short percentage of float is over 6%.
Anyone got a clue whats going on?
Posted by Rockster on :
Hey.. you may want to be careful about shorting stocks during the election. They may go up afterwords.. typically do.
Retail expectations may be down, but christmas is still a great time for retailers. Much of their profit is from the next few months.
I havn't researched RL.. but s&p just raised to buy and market edge and thomson are dated prior with a sell.
Posted by toothpick on :
My god its 52 pre market
Posted by crazytrade on :
hope you didnt' cover. 34.89 now.good call
Posted by Rockster on :
yep down...
I covered my yahoo shorts when they were around 15 because of potential buyouts. oohh well trying to limit losses.
retail has been getting hammered.. the last few days.