I just bought CRI yesterday and I really thought that it had already reported earnings - but unfortunately I was mistaken - But - losing 12%+ on good earnings and so-so guidance is ridiculous and is why I say the economy is rapidly failing.
The fact is these are estimates and the funds and everyone else is so concerned about a few cents of guesses that the stock prices are being battered for absolutely no reason except pure fear.
Look at KNOT yesterday - analysts "expected" better returns off a couple of acquisitions, didn't get it, and bang - dump city. And these aren't the only examples blowing up lately.
Well I just turned CRI into an investment - I'll hold it for awhile and see if I can get a few cents back and then dump it for a loss - I doubt it will ever be back to 25 bucks again in my lifetime - there just isn't enough pizazz there to cause that kind of growth.
That's two days in a row with huge surprise losses - I'm going back to being flat every night - it is the only way to play this game during earnings season.
Bought NEW and BMRN as day trades this morning. Those and RX will be gone by COB if not sooner. No more overnight. No more overnight.
Update: 10:52 - out of NEW and BMRN +59, -6 respectively. Also sold RX for an 8 cent gain. Another one hour day - by 10:30 it looked like everything was collapsing.
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2 comments:
I missed a great BOB in KNOT. I hope you caught it.
Excellent post interesting situation.
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