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Message Boards Settings Nordstrom, Inc. (JWN) - Quote Info
Was there a major short here?      5-Nov-09 02:28 pm    
The weak opening today was puzzling. Who would sell into a huge beat in SS sales? Particularly when it was the only major beat among the retailers. This is another illustration of my theory that Big Guys do the Opposite of Us. When we get some bad news about a stock we're holding, our first reaction is to sell it. Whereas the first reaction of a large holder is often to buy quickly into the bad news at the open to drive the stock up on low volume, then walk it down all day, selling options as they go. I think we saw the reverse image of this today. Someone had a large short bet on, and sold more quickly into the open, which naturally panicked some others into taking profits. (Yes, if you have enough capital and you're on the wrong side of a 2,000,000 share short, the cheapest way out can be to short 400,000 more.) I bought 1,000 more at 32.46, then when it had moved up to 32.95, put in a stop at 32.76. Went to get a cup of coffee, and when I came back, the stop had been taken out. Too bad. We should have opened up 1.50 and gone up another 1.50 with the market. Anyway, the implications of a 6.5% rise in SS sales along with leaner inventory and firmer pricing bodes well for earnings, I think.
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Was there a major short here?
bearofbleec... Not rated 5-Nov-09 02:28 pm  
 
The big bucks guys know this already and some of t...
bkw140 Rate it 5-Nov-09 03:12 pm  
 
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biddermon_c... Rate it 5-Nov-09 03:37 pm  
 
However, if inventories are aligned prop...
bearofbleec... Rate it 5-Nov-09 04:34 pm  
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Nordstrom Inc. (JWN)

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At 4:00PM ET: 37.80 Up 0.43 (1.15%)
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