Let Your Profits Run
On Friday I played J. Crew Group, Inc. (JCG) on the long side. J.Crew Group is an apparel and accessories brand that embraces a standard of style, craftsmanship, quality and customer service. JCG reported first quarter earnings of $0.48 per share, $0.01 better than the First Call consensus estimate. Revenues rose 14.6% year/year to $340.6 [...]
Why Am I Playing Lousy Retailer
Pacific Sunwear of California, Inc. (PSUN) is a specialty retailer focused on action-sport inspired casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. I am playing PSUN, purely on technicals. PSUN formed a bottom during the month of Jan 08 at $8.87. After a lousy earnings PSUN hit [...]
Nouriel Roubini Break Up
Nouriel Roubini Professor of Economics at New York University’s Stern School of Business, breaks it up for us as to how ugly it is out there. Initial claims for unemployment benefits now at their recession level signaling the beginning of a serious slack in the labor market. Durable goods order falling – excluding transportation – [...]