If for no other reason than vanity, I’ve decided to buy large quantities of SHLD. As a man, I despise Eddie Lampbert (sp?) and wish him the very worst tidings any man could offer. However, as an investor in speculative wares, there are few stocks on the market that offer the sort of upside that SHLD offers right now.
Everyone is laughing at the former Dow component, as the shares swoon in the $40’s, offering its investors nothing but coal this festive holiday season. The rationale to buy SHLD here is one of as crazy man, which is exactly why I am adding size to it morning.
To raise funds, I sold out of the remainder of my GIMO position, disgusted by its lack of momentum and proclivity of wasting my time. If I told you I wasn’t tempted to grab the cash and stick it on the sidelines for the remainder of 2013, I’d be lying. We all have our vices. Even though I am up nearly 70% for the year, I find it impossible to cower on the sidelines, waiting for a better opportunity to run along.
Aside from SHLD, I added to both LITB and RBCN positions.
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You had mentioned a year or so back that you manage funds primarily now and not your own money (high risk options account). Regrets?
I never have any regrets, you insolent fool.
I suppose if one possesses the ability to see the future one would not.
SHLD is the next JCP, it’s just taking longer to play out. If you don’t believe me, check out this article
http://www.businessweek.com/articles/2013-07-11/at-sears-eddie-lamperts-warring-divisions-model-adds-to-the-troubles
Yea, big difference though is Lambert fucks the shorts every coupld of months. He owns a dominant number of shares.
Jeff and I are big fans of Mr. Lampbert (sic). I always enjoy a fund manager who is a trader at heart, and loves to squeeze the shorts. I have been waiting to get back in here and am glad you have nudged me to the edge.
we already one nighted this one with callssno the move to 65 a month back. 😎
that we did, sir. However, from a fundamental perspective of the recent drop, which is due to the RBS fund redemption given in SHLD stock, I am of the opinion the move to the downside has run its course.
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now i know why RBCN pushed up.
thank you for the purchase
Elevator back to $65 Matt? How’s the sleep buddy
from a quick chart look on a 3 year daily, i see the high of 94.79, and a trendline up from the bottom at 28.89 creating a massive multiyear wedge. Lower highs and higher lows. Fly has just about a great entry if you want to get in with shares, but I don’t see anything on a sure fire tradable options play at the moment. Volume pocket on the 1hr chart leads to 51ish. I’m on 4 hours of sleep today so i’m actually doing great. lol
Ill just go long on this one; seems like when it goes “IT GOES”! Everyday all I think about is the $200,000 I could of had if I wouldn’t of sold TWTR at $51
JCP is a much better play than SHLD from a 6-18 month perspective. If JCP can do the same sales per sq foot as SHLD (~$120-130) with EBITDA Margins ~5%, the stock is a double. That might be a little longer than you are willing to stick around for, but that’s my take.
sears has craftsman, norditrac treadmills, auto repair service, kenmore appliances….what does JCP have? nothing. JCP is a cancer patient.
JCP has Towncraft and I have a 1968 or so groovy, far out Towncraft Nehru jacket to prove it.
All fair points. Without a doubt JCP is a distressed company, but I do not believe it is a fatal situation.
I would be more positive on SHLD based based on their real estate. Their auto businesses doesn’t exactly fit in the modern retail environment. The fact they have a tire center is not exactly selling apparel – it’s killing their brand.
JCP is really just a normalization story. I don’t expect anyone to agree here – in a way, that’s the whole point. Just throwing it out there.
Surprised in SHLD position…then looked at chart…EVERYTHING I look for to start a position has setup perfectly. Last time this occured stock went from 55 to $67. Time b4 that my setup occured stock went from 45 to $60. Good luck/pick brotha
Ha, looked at other stocks you just picked up…all my confirmations occured there too…think we look for similar things to start a position
EGLE on the move…