Jul
11th
Sat
11th
Consumer sentiment discounts 99 Cents Only Stores: End of trading day for TR (Twitter Reality) Portfolio 07/10/09
- Sold NDN at $13.00 (-6.7%) [Bought at the open for $13.94]
99 Cents Only Stores (NDN) got an initial pop on Friday from their announcement of stronger than expected Q1 sales after the close on Thursday. Unfortunately, the stock began to drift lower after the initial pop, and when the lower than expected consumer sentiment numbers came out at 10AM, it sank and stayed at the bottom pretty much all day (-4.6%). Perhaps the worry about such poor consumer numbers is what tempered the initial after-hours run on Thursday to a tepid gain of 1.5%. Something for TR to think about in the future, when judging the power of stock buzz. For today anyway, the buzz got squashed.
TR Portfolio scoreboard (started on 1/12/09):
Number of trades (closed): 114
Winners: 52.6%
Average P&L per trade: +.7%
