BEST BUY IS GETTING HAMMERED!!! BUY BBY!!!!

[voyager]

Down 12.5 % today!!! A BUYING OPPORTUNITY FOR SURE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BOOYAAAAAAAAAA 8O

[BrianB]

im in this one too...good luck! who knows where we will end up...but its coming back up right now!! booooyah

[nefrologocatracho]

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.

Makes you wonder. :?

[deepinwonder]

I put a post about this on the other board, might as well not repeat myself, but Cramer said he never buys in on the first day of a sell off.

[voyager]

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

david :D

[optimus25]

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.

[optimus25]

In hindsight....

Best Buy is a best of breed in electronic retail.

[berberick]

Damnnnnnnnnnnnn .

Your scary , you think what I'm thinking . You nailed it .

[optimus25]

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.

[tekbubble]

I don't know what you guys (or cramer) see in Best Buy to begin with. Do you shop there? They don't have the Best Buy, and people generally hate their post sale support. (Well run business at the corporate lever or not.)

[optimus25]

Best buy doesn't have the "best buy", but everytime I go to their stores, there are usually a number of shoppers there.

[vthokienj]

Same here in northern NJ, the stores are usually packed.

Best Buy and others like Circuit City make a huge profit from selling the extended warranty on things like tvs. Walmart is now offering the warranty and for a lot less, so that should drive down the cost and have a negative impact on earnings down the road. But you are right that dip appeared to be a good buying opportunity, at least short term.