Best Buy Buy Buy!
The idea of after-thanksgiving shopping in the wee hours of the morning is not my cup of tea, but after I heard about it enough times on TV, radio and from family and friends, my curiosity got the better of me this last week and I found myself getting up at 4a trying to reason with myself and my less than ecstatic wife why I would put myself through the very experience that I have often ridiculed others for. So I wouldn’t fall asleep at the wheel, my wife decided that if I were crazy enough to go, that she may as well play the part of Mrs. Crazy and keep me company.
So we embarked upon this twilight adventure in the direction of my favorite type of retailers – the kind that sell electronic gizmos. In my quest to see for myself, the plight of the bargain shopper, I pulled up into a Best Buy parking lot and couldn’t believe what I saw. The parking lot, which is a huge one considering that the lot accomodates Target, The Great Indoors, Lowes, Linens-n-Things and Marshalls among fast food and chain restaurants, was packed to the point that I had to park by the Great Indoors. ‘While there were a handful of shoppers waiting to get into Target (TGT) at 6a and no one outside the other stores, Best Buy (BBY) easily had over a thousand people waiting impatiently to make a mad dash for those 5 hour limited inventory opportunities. The line of these die hard Best Buy fans ran all the way around the building and into the back.
Somehow I made my way inside the store once they opened their doors and was amazed to see how frantic shoppers were running around clutching their newly acquired toys, looking for more great deals. The checkout lines were so long that a lady holding two balloons would yell every 30 seconds “checkout begins where the baloons are!”, as she moved further and further along the four walls of best buy to make room for the mob.
One does not have to be a chartist or a fundamental stock picker to realize the success of Best Buy’s marketing campaign. I believe the Thanksgiving holiday sale will have proven to be a resounding success and will be reflected in their earnings. I would buy this stock as consumers stock up on their iPods, MacBooks, plasma TVs and video game consoles.
– Faisal Laljee
Full Disclosure: I currently do not own shares of Best Buy, but my position might change anytime without notice.
After the nasdaq index gets crushed 80 points in 2 days,
right after 160 point 15 day run, got a game plan for rest of week? man, i got slammed $1700 monday with 70K of decent repeater day trade longs crushed on nasdaq -55. i wished i had
some good tips for the rest of the week. whats yours? my main newish low inventory longs 1 month bounce plays for this wed-fri are Motorola- mid 21s long, Lifecell – low $21s long, Sonosite- upper $30.00s long,
starbucks- lower $35s bounce?,
Zumiez- mid 27s long in front of wendesday sss newsflow, Zoltek mid 22s long, Qualcomm- 36.01+ long. whats yours?
after the close wednesday
ZUMIEZ sss figure 12%.
2 of 3 months sss are 15% & 12% well above the company guidance of 5%. the shares have firmed after hours to the upper 29s, finally some easy bounce money after the mainly $7-ish fall to 27.20s. what to do now? sell or chance for more, and if so, how much more 30.99? or?
now that Best Buy is soldoff ,this is probably a good long spot on the charts? should i hurry up and take advange of this dip on slow earnings report? or? sold off like costco. which is better dip?
Its a tough call between the two. I like both as long term holdings and this is a fine price point.