UPDATE: next day… yeah – SMELL THOSE STINKY FEET.
We really had this one dialed in for a cool 29% PROFIT. Yeah, I am not kidding. Here is what we said in our jump report;
—————————-> GO SHORT
“ANALYSIS: StockJumpers trajectory analysis reveals a beat (slightly) on the EPS numbers and revenue may be in-line. However, we see the stock dropping post-release based on other metrics possibly same-store sales and future guidance which may be weaker than expectations. The stock may be in overbought territory and that is why we are not optimistic of a pop today.
We are overall SHORT for the event – but expecting an initial move up end of day before the release.”
Well – without bragging too much like Donald Trump. THAT IS EXACTLY WHAT HAPPENED. Cha-Ching one of the largest easiest jumps of all time.
(And, a little sauce for the goose… our SNAP trade which was [TEAM] we got a nice 10% on top of it.)
SKX – Chart from the Trading Room experience last night. This morning the Jump Zone dipped to 29% Everyone danced in these shoes.
Sketchers: Smell The Money. The Analysts Are Upbeat About The Feet.
Today we play Sketchrs (SKX). And what fun we will have trading their earnings release in a few hours. Looking at the chart this morning what strikes me is unless they report stellar numbers the price is too high. We traded the s__t out of them last fall on a 42% jump that we had dialed in and rode on the heels of the pop in February. The question today is can it keep going.
Here is what Jim Cramer has to say…. Skechers SKX : “I think Skechers is doing well. I happened to particularly like that Tony Romo ad. I’m not kidding. I think it’s really good. Skechers is doing fine. I think that the boys who run that company have done a good job. They’ve weathered a lot.”
Oh my.. and they gave this guy a TV show. The key metric today will be same store sales and how the future looks, assuming they beat. We are looking at the alternative data and our trajectory analysis to get it nailed today.
This was taken outside the store in the USA’s largest mall in Minnesota. The Mall of America. You get lost inside just trying on a pair of shoes.
Tie up your laces and lets go for a run on this one. We have some catching up to do on this weeks performance, which has not been up to our standards.
See you in the trade room.