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$17.05 0.10 (0.59%)
10/6/2008 4:00 PM

Overstock.com, Inc. (OSTK)

CAPS Rating:
*

The Company is an online closeout retailer offering discount brand name merchandise, including bed-and-bath goods, home decor, kitchenware, watches, jewelry, electronics and computers, sporting goods, apparel and designer accessories.

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Recs

6

Avatar DemonDoug (99.67) Submitted: 5/29/08 3:52 AM : Underperform Start Price: $27.91 OSTK Score: 29.39

Has this company ever made money? I would agree that this stock may be one of the most highly manipulated in the history of the stock market (c'mon guys, a company with -1.17 eps has a trading range of 8.61-39.39? Who on earth would buy this pig at almost 40/share?)

Anyway, I was able to time this right before with an underperform, I'm not a chart guy but I'm seeing a double top right over there on the stock trend chart in here caps, and oh by the way did I mention that this company couldn't make money in the good times so how the heck are they gonna do in a recession?

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Avatar nuf2bdangrus (< 20) Submitted: 5/29/08 10:41 PM

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There are some serious allegations of misleading financials according to posted articles on "Seeking Alpha". The stock appears highly manipulated, and CEO seems to be a bit loopy. I tried to get shares to short, there are none, so I bought puts, and probably paid a bit too much for them (wait a day after a damning article before acting on a stock!) I watched with amazemet as the stock held sturdy during the recent selloff. It started to roll over today, and promptly bounced up at the end of the day. As for technicals, not a double top in the pure sense, as the first high was higher than the second, but that's even better, as the rounding of the second top is an ideal short from a risk/reward point. I just need it to drop a few more bucks between now and June expiry. A lesson I have learned about shorting overvalued stocks. Wait for a failed retest of highs, then short. Especially on parabolic ones.

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Avatar DemonDoug (99.67) Submitted: 6/06/08 3:11 PM

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watch out below!!!

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