Crossing 50 RSI today with good volume. Going through a reorganizing time by laying off workers. While that is bad for workers, that is usually good for stock price.
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I'm just learning how to look at charts, but I thought that though the general trend over the past year is down, if you look at the past few days, it is trending up.
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posted it on the contest. see the PR about CC
Circuit City fired 29 local employees Wednesday bizjournals.com (Thu 12:11pm)
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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One store in Norfolk VA will be closed but they are opening a new one across the street. Out with the old in with the new. Firing people with tenure and know how to bring in the new teenie boppers. Not a good move IMO for perception. A general WF reduction is one thing but to come out and say they are getting rid of the experienced workers because they make too much will turn a lot of investors away imo. Battle lines.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Yeah, that sucks. I shoulda looked into that further. Glad I don't have it in my REAL portfolio.
Another store that has been doing that same thing is Value City.
Really, for CC to get rid of the more experienced workers isn't going to help them to beat rival Best Buy. One of the main things that is needed in the electronics biz is knowledgeable staff. Lower wages aren't going to attract quality people. This could be the beginning of the end for CC.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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