In my video a couple of days ago, I specifically called out Jones Apparel as one of my shorts, based on its massive head and shoulders pattern. Well, it looks like the pattern is starting to really kick into gear, as the stock is down double-digits this morning. There is almost nothing supporting the price at this point, and as outlandish as this might sound now, I'm targeting a low single-digit value for this one.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Charmed, I’m Sure
One thing I've learned about shorting is that shorting already-battered stocks can sometimes work out well, since they are battered for a reason (as opposed to shorting higher-fliers, which is always more tempting).
Take the example of Charming Shoppes, which owns several retailers – – notably, Lane Bryant, which provides clothes for "women" (translation: really, really large women). This is the kind of stock that could go spiraling down into penny-land.
BONT’s Away!
Another favorite retail short of mine is Bon-Ton Stores (I have never seen one of these in my life, nor do I know where their 'tard name hails from). The main reason for this post, of course, is to spare your eyes from any more Abigail. Anyway, here's the chart.
Fashion Finally Pays
Over the past months, few sectors have fooled me as badly as speciality retailers. I have tried shorting them – – TIF, WSM, JNY, LIZ – – you name it – – over and over, and each time they seemed to puke to new highs.
It seems perhaps the trend has, at last, changed. My retail plays are starting to work out, and today's plunge in LIZ seems to be encouraging other specialty retailers to join "suit". Heh.
Anyway, here's another favorite:
