Gap Stores Giant Beat

Gap Stores, a holding of mine, has raised estimates to $0.49 to $0.51 a share. First call was calling for $0.44 a share. Goldman Sachs has been beating the short drum on this one. Oops.

3 comments:

PJ said...

Might lighten my shorts again at the close tonight, playing for a possible NFP rally first thing tomorrow. Will have to see how the market goes.

Anonymous said...

I'm not waiting for the close, took some off just now. Feel much better being short into NFP without a full position on.

The deja vu over the October sell-off/rally is now completely off the table. Think we definitely see it down 10% from the highs. But no guts to stay full short into tomorrow.

JD

PJ said...

In an ordinary market I would follow you, JD, but this market intraday reversals have been rare.

I was kicking myself Tuesday for not waiting till the close to put my shorts back on (the shorts I took off last Friday at the close).

That said you can't rule out some kind of leak of positive NFP data that leads to buying (or selling!) at the close or after hours. That argues for acting early.