SHLD Stock $100 Magic Number
For those keeping on eye on past leaders, one to watch is Sears Holdings, SHLD stock.
SHLD closed today at $106.22 after its 2nd accumulation day in a row, and by the chart below you will find the stock with big support at $100 a share. Apparently triple digits means something to the few bulls that do remain invested in the stock.
Click to view, Click again to zoom
For shorts a fall under $100 is yet another good short opportunity, and for those looking to take a long stake in SHLD, well don’t just yet. I would wait for more technical evidence of the bottom for that.
More on this topic
(What's this?)
Sears Gets Aggressive With Debt Forgiveness
(Money Morning, 6/29/09)
WHAT IS ED LAMPERT DOING?
(THE PRAGMATIC CAPITALIST, 5/3/09)
Sears 2009 AGM Notes
(Dah Hui Lau (David), 5/13/09)
Blain, when would you consider this a buy? If it closes above the $115-$116 mark?
If you believe $100 is really the magic number you want to buy as close to $100 as you can, then place your stop say at $99 and hold to see what happens. If you want to buy on momentum I would wait for the stock to show some more strength and create some sort of base.
If momentum was Superman, SHLD would be a big pile of kryptonite. Granted if you got in a $10 you’re still sitting pretty, but if you bought in at $175 I hope you got out. This things a dog. Didn’t profit drop 99% from last quarter? Ouch.