jsthwrth (97.32)

I'm in a Bearish Mood

June 26, 2008 – Comments (0) | RELATED TICKERS: OUTD , GNET , VICR

I felt like redthumbing some stocks. So I did. Here's a slight rundown on some of the stocks I've redthumbed recently:

OUTD (Outdoor Channel Holdings)- Frankly, I don't see how this channel can even work. They have one product (outdoor programming) that people would rather be doing (i.e. hunting, fishing, mountain biking or hiking) than watching. I don't see the draw.

HAS (Hasbro)- All I can say is "it's going to be a rough Christmas".

GNET (Global Traffic Network)- This is a publicly traded company that sells traffic reports and programming for those traffic reports. Seriously.

VICR (Vicor Corp)- To quote the company's recent 8-K: "As of December 31, 2007, the Company's accounting department did not have sufficient experienced personnel and resources with the requisite technical skills to address complex and judgmental accounting, tax and financial reporting matters as part of its financial statement close process As a result, the Company's financial statement close process was not effective as of December 31, 2007 as it relates to evaluating and accounting for complex and judgmental accounting, tax and financial reporting matters, including accounting for the Company's related-party investment in Great Wall Semiconductor Corporation, accounting for income taxes, accounting for complex revenue transactions and accounting for judgmental accrued liabilities." Add to that they are an electronics business and their P/E is over 60.

NWA (Northwest Airlines) - I think we'll see all airlines faltering. I "sold" this on an upward bounce and anticipate it going down as the price of oil goes up.

PIR (Pier One Impots)- I don't know anybody who shops there. I don't think their items are fairly priced. I can't stand the store personally and I don't think it is going anywhere.

Feel free to comment on/skewer me on any of the above picks.