Hey guys, just want to give you a heads up on FTUSQ. FTUSQ is Factory 2 U stores which specialize in wholesale prices on merchandise for consumers. It's like a Wal Mart or KMART. My charts inicate its hammering out a bottom before trend reversal. What is important about this is that these charts and the company auctioning a lot of their assets next week point to a high stock price. If you remember when KMART went into bankruptcy and sold their assets, their stock also went up and it was at 12 bucks and now it's at 70 bucks. FTUSQ was at one point 6 dollars. FTUSQ could jump possibly to 25 cents with the right amount of volume and that should probably happen next week. Also, Factory 2 U will still be continuing their stores but selling some of their stores. If you remember when KMART sold their stores to Home Depot, the stock price increased a lot.
Posted by metal1 on :
the difference is FTUS is liquidating. kmart only sold some assests to pay down some debt. that means nothing will be left for the equity holders as FTUS mentioned in the story. no real reason for this stock to go up.
Posted by hardboil on :
metal, this is not a long-term hold. I'm saying this is a daytrade for the auctioning off assets.