MNYC,... I have the same sentiment on SHLD bouncing, but the mounting worsening news all last week made me think otherwise. Yes, oversold, big downward gap, household name, etc...
The news of financial troubles, downgraded to the junk rating of CCC, holiday revenues not what expected, closure of 100-120 stores, target price of $20, etc... last week just put a sour taste in my mouth and I decided to cut and run with a loss Friday afternoon. There are more options to play that are a little more safe and volatile.
I'm seeing it get worse before it gets better.
Just my thoughts.
-Rudy
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