DKS Dicks Sporting Goods

[KenBro]

Ouch I can't sit down after buying 101 shares on the open at $35, man that was not good news about Gaylans. Oh well like the man says he ain't always right but it might be a "mon-back" time at $33 a minute ago?

I do like the investors section on DKS's website. The management looks solid with E&Y, Mervyns and J.C. Penny executives. I thought they had already wrote off all the merger costs last year.?

Anybody been in a Gaylan to Dicks converted store? Are the employees happy? I live in CA so have no 411 on the parking lots or employee morale.
Peace-Out
Kbro

[Natural Gas]

Tried to get in last night on extended hours at market close. My limit order did not go through. Boy am I glad. Todays tumble made me rethink.
Now I'm in at 33.89. Can wait for it. Great company, timing looks good for the fall surge.

[deepinwonder]

I made a rule for myself that if I can't see a store or restaurant with my own eyes, I'm not going to invest in it.

[deepinwonder]

Just found this news about Dick's Sporting Goods lowering guidance on thestreet.com's main page, today!

http://www.thestreet.com/_tscs/stocks/retail/10238235.html

[deepinwonder]

Cramer said to sell on his show, tonight. You might have gotten in low enough, but it could go down further, because of the guidance. The analysts are not always right, someone downgraded one of my stocks last week, right before it shot up $1.45. I'm long on that one and trying to make it back up to where I first purchased it (just about there) and beyond. It dropped because they are issuing more stock for another acquisition or three. Constellation Brands (STZ) the wine company.

[Natural Gas]

Must say I'm disappointed in Jims position. To make a "pick of the week" on Monday and then turn around on Tuesday and be "down on retail" is not good enough. He may not have seen Galyan coming but where was his guru Greenburg on Monday? Where's the "HOMEWORK"? Is this how he became the multi millionaire and retired early? I've tracted many of his "Bullish" calls from his first show lightening round and have found most (75%) are down from his "up" calls.

Love the show and watch religiously and have made some money but I'm down on CKR(sold it), CX, MDRX, SBUX and now DKS(holding). All emphatic BUYS. Did make some on BOW, SGP, YHOO, GOOG, EBAY, MOT but not enough to cover losses thus far. Fortunately my future doesn't rise or fall on this, after all it is MAD MONEY. Booyah Baby!!!!!!!!!

[jbtrader23]

I love Jim's show. It's sad to see this DKS debacle.

I think he needs to focus more of the show on the psychology of investing and the mechanics, rather than just throwing out names and getting side swiped by a stock like Dicks.

His honesty is refreshing. Hope no one got hurt real badly on this one.

[Yaya]

I agree about his honesty. I liked that he didn't ignore it or try to convince peeps to stay in there when he would jump ship. That's why it's great he preaches that we all should do our own SPADEWORK :wink:

[Trey]

dks down down down, what a screwup he had. Real bad man.

[sellsellsell]

In Cramer's defense..he did say 'do your homework' about 10 times Monday night when he was making the recommendation, and that he was sticking his neck out a little.

I'm going to watch Dick's and see what happens. There are none near me, so I can't do on site research which will probably keep me out of it.

[David]

Glad I missed his show recommending Dick's. I might have loaded up on some. I live very close to one and shop there occassionally. The store is nothing special fwiw.

They started as a hunting and fishing type store and now have all different sporting goods equip and clothing. Had a big tent sale in parking lot. Most of the stuff was out of style out dated surplus items. I do buy some golf equipment from them occasionally. Good prices on Taylor Made and Tommy Armour clubs. They may have some special deal with them. Mixed bag on employee help. Golf Galaxy far and away much more helpful employee group.

Actually had some run in's at Dick's. An itemwas marked, "buy 1 get 1 free" for $9.99. I grabbed 2 items and went to check out. She charged me $19.98. I asked why? She said something like that is the regular price, but you are getting 2 for the regular price. I said the sign next to the item has in big letters, $9.99 buy 1 get 1 free. Well, you hopefully get the picture. Sign was changed next time I went in. Think they made mistake but this check out girl didn't handle it well at all IMHO.

Bottom line. I've been following Jim's advice quite abit recently. May have even been sucked into the Stock of the Week mantra and LOST MORE MAD MONEY from this hot tip.

I'm probably down alot more than I'm up from his picks. He seems to favor a stock after it has made a run up. This is rather short term perfomance measure but I'm becoming more and more sceptical about his investment advice.

He is very entertaining and is an extremely knowledgable investor but ....
I need to adjust something bc the plan isn't working following his picks.

Dick's is probably the most glowing example of this. Glad I missed that one. He's a very good salesman. I wonder how much longer his show will be on 3 times per day?

[optimus25]

I didn't catch the Tuesday show but did Cramer actually say to get out of DKS?

Just a case of bad timing since all retail took a hit yesterday from a spat of miscues in earnings: AEOS, COH, ANF, SHLD, ZQK, URBN, VLCM.

Can't blame Cramer too much on this bad call. Market was looking a bit too high anyways. We need to see a little more consolidation IMHO in the major indexes.

[KenBro]

Cramer has tought me to buy and "TRADE" not buy and hold.
Every now and again "stuff" happens. I read through the Dicks PDF's prior to my purchase and I do believe they have great potential. I LOVE the show and the honesty and integerity he has. I've learned a lot about him by reading his books. He is an amazing individual and I can't believe the memory he has on individual stocks? Truly refreshing to see a guy like this educating folks like us about the "dirt" on the street.

[Natural Gas]

All,

Don't get me wrong. Love the show and rarely ever miss it. Anyone can be blind sided from time to time. At least he is willing wear the hat, no problem. I'm only saying that on Monday it's the pick of the week (a retail store) and on Tuesday it's all of a sudden "out of favor". Thats certainly not buy and hold or buy and trade. THATS DAY TRADING..

Okay, he missed it and owned up to it, I respect that. There was some discussion about getting in while it was down and some discussion about getting out. I waited till it was down and got in. I watched it today some and it was down some more. If it starts down tomorrow I'll swap out take my lump and get defensive I guess.

The show is very educational and entertaining in a dull area but I'm learning that Jim (although we love him) is just a guesser like all the rest.

[helk]

I was a bit surprised by Jim making DKS his stock of the week in the first place. Most of his other picks made sense to me, but this one didn't and he really seemed to be trying hard to sell the audience on it. Like others said, he knew retail wasn't strong right now so why pick a retailer as stock of the week?

I hope he just isn't trying to pick a 'long shot' just to look good in front of the prime time audience. This just shows the importance of doing your homework.

As good as Jim may be, he's human like everyone else. I'm a firm believer that you must rely on your own judgement to make money in this game. Use the ideas and advice from Jim and others to increase your knowledge of stocks, but ultimately, you must be responsible for your own investment decisions.

I use these boards and shows to incease my knowledge and open my eyes to companies I may not have considered or even heard of. But, before making a decision, I research the companies and make my own decisions based on my own investment criteria no matter what Jim Cramer or any one else says. Taking responsibility in your own investing will go a long way. Enough of my rant!

[Yaya]

I find it funny how peeps are so quick to down Jim over one mistake :roll: I'm a newbie to investing and even I know that not one person is always going to be right. If he was then he would probably charge for seeing his show. Also, he tells peeps to do their own homework :!: If you're a person that just follows his picks without doing any of the work then you shouldn't complain.

I lost my stock market virginity on TEX. At first I felt like I was "special" but now I feel like a whore cause this stock is doing me so wrong :P I can't blame Jim though cause I didn't do the homework and just went with a gut feeling on his logic.

I'm sure if I just went with Jim's picks that I would gain some $$ and lose some $; just like if I just did it all myself or listened someone else.

That's how this thing is. It's nothing but gambling, especially for the traders. So, I plan to take Cramer and Greenberg's (another guy I like) opinions as a good starting point on stocks to look at then I will do my own homework :D

[KenBro]

Couldn't take any more naging from my better half. That was too much exposure man. Sold my 101 Dicks for a loss of $250 better luck next time. Okay let's spin the wheel again sucker!!!! On to the next one.
Peace-Out, good posts traders 8O