Any ideas why skx is down today (about 6%)? I could not find any news
2 Likes
Any ideas why skx is down today (about 6%)? I could not find any news
I couldn’t find any either. However Nike was down after announcing disappointing earnings (I think) and SKX could be down in sympathy in in worry that they will disappoint too. That’s a total guess, by the way!
1 Like
This is all I was able to find on Nike:
http://247wallst.com/investing/2016/04/04/the-4-stocks-that-…
So, as far as I can tell, there was no news out there today to cause either Nike or SKX to drop, at least none that I could find.
I used the opportunity to pick up more shares of SKX today.
Uh-oh. The dreaded “The Wizard” curse.
Matt
Long on Ozzie Smith’s 13 Consecutive Gold Gloves
1 Like
Another Nike article posted this afternoon
http://www.thestreet.com/story/13517875/1/one-reason-why-nik…
People are selling it short ahead of the earnings.
When they are selling and there is not enough buyers price go down.
If earning and guidance will be good we will witness - short squeeze sharp movement up.
Or just short covering - modest movement up in the case of OK guidance.
In the case this is a dreadful quarter we will see more short interest and price will go down further.
I personally think that chances are for either short squeeze or just short covering.
Of course I can be wrong.
I am long SKX.
6 Likes
I agree. I’m 100% confident that SKX will either go up, stay about the same, or go down further. 
Sorry, I couldn’the resist. There is about 4 days of normal volume to cover short interest. I’m hoping for a short squeeze too.
4 Likes
I can’t resist buying a few more shares yesterday at $28.51. I realize earnings are only a week or so away, but SKX is a solid company and if
we do get another drop after earnings than maybe it would be time to pick up a few more share. I don’t play the earnings guessing game, but
will normally wait till after earnings make any purchases.
2 Likes