HIBB
Updated
Didn't drop today, huge short interest. Looks like a lot of covering, can't imagine anyone would want to go long on a dying business.
DKS reports tomorrow morning, we'll see what happens there. Retail will be watching Dicks in the morning, lol.
DKS reports tomorrow morning, we'll see what happens there. Retail will be watching Dicks in the morning, lol.
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The funniest part about this earnings report is that they reported a 10% Y/Y decline in revenue, increase costs, yet the stock price is the same as last Nov earnings.Of course we all know the market doesn't care about fundamentals, only price movement. In this case, just too many short sellers, gotta watch those crowded trades.
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Broke out of yesterday's intraday pennant to the downside obviously. Needs to break the lower line in the chart to tank. 7 million shares short interest as of 11/15, 3.5M shares traded this week, so plenty of shorts left, let's see how many cover and how many hold.
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I guess the market doesn't like Dicks, lol, maybe they think declining sales isn't a good thing?Retail lagging today
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Guess they can't pump the S&P 50 points every day. Dropped a buck with only 50k traded, looks like they chased out all the weak shorts yesterday, nobody left to buy.If it breaks $15.5, it's straight down to $12. The delayed drop is weird, wish I had played that better, oh well. Dicks (DKS) eating it too today, Guess (GES) looks like a delayed reaction as well.
Trade active
Closed my Dec $17.5 puts to lock in profits, but I still have some Jan $15. Down 10.5% in one day, can't get too greedy. Plus it may find support at $15.5Broke down quicker than I thought once the weak shorts covered. Downgrade on Dicks helped a lot.
Trade active
Closed the gap from last Nov.... figured we'd get a bounce sooner or later, still have a small position in Jan 15 puts though. Old support is the new resistance, let's see if it breaks back above $15.5 next week.Looks to me like it's going to throw a bear flag next week, looks like it might start tracking the market now. Only buyers are short covering, computers and ETFs. Can't imagine any managed funds or individual investors buying a dying company.
Trade closed manually
Market looks like it's going to bounce here, HIBB is in a lot of ETFs, so I'm done with this unless it pops up, then I'm shorting again.
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