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?
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
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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.
Posts: 208 | Registered: Sep 2008
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