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Thread: Best buy is getting hammered!!! Buy bby!!!!

  1. Default Best buy is getting hammered!!! Buy bby!!!!

    Bought in early October, done well so far, now getting hammered. Do I wait this one out on the chance they do better than expected next quarter, or bail?

    Also, an observation. I've followed a number of stocks peripherally before they announce earnings. I have to say, almost without fail, that the day before an earnings announcement, the stock usually makes a move appreciably up or down. And that move almost always predicts the reaction to the earnings the next day. For example, BBY started making it's move down early yesterday and finished appreciably down. Today, negative earnings announcement. I've seen the opposite true as well: stock moves up some the day before, followed by a good earnings statement and a move up in the stock.

  2. Default

    Deepinwonder you are correct. He also said yesterday on the show that after the earnings report comes out and the stock dips to BUY BUY BUY. Only god knows which way the stock will go but I do know that BBY has been a good company for a while and if you can get in on the dip I am of the opinion it probably is a good chance to make a few bucks.

    We will see in time.................

    warmly and happy holidays to all

  3. Default

    I like the stock also and technically they should at least retrace 50% of that gap in the next couple of months. Waiting it out though in case there is a little more weakness.

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    I posted my 50% retracement call based on experience. During a sell-off as steep as what BBY experienced in December, there is almost always at least a 50% upside move. It doesn't always happen but more often than not the probability is for the retracement to occur. Bank on it.

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