SFM- Short... Folks, it broka my heart to ditch the previous short, as I believe there's more in it but I descried a prettier girl- SFM short. And when it comes to stocks, I'm nothing but a philanderer.
SFM is well into its tumble but looks like there's more fast $$ to be had. AMZN "shocked and awed" today with speedy price cuts at WFM. While none of us know Jeff's plans, we know his model is volume. Low price yields volume. Today's price cut on numerous grocery items are likely just the beginning- don't want to stir Uncle Sam. Do things gradually.
SFM chart shows a double top and a straight drop. The SP is in a free-fall, has broken through the 20, 50 and 200 MAs. No support in sight- a black abyss breakdown. AH there was more tankage. Institutional Outflow was massive over the last three months. And company execs have been dumping. There's simply no support.
SFM will not be able to sustain its still high ratios since growth had already slowed in same stores and now the outlook is "cutthroat". Barclay's predicts the demise of remaining high priced food retailers. SFM had a stable business but its finances are weak. It has no reserve to fight back. Disruption to its stores in the path of Harvey won't help.
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