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Non-Tech : BBY -Best Buy
BBY 75.09+1.5%Dec 6 4:00 PM EST

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To: Outer-limits who wrote (933)10/12/2002 1:18:45 PM
From: parker_benchley  Read Replies (2) of 980
I'm a true fan of BBY...but the following article doesn't help.
I sold on Friday for a 9% gain...but will be back in if it looks right.

We had a nice bump on Friday, but for the combined gains of the DOW for the past two days, Best Buy has only gone up $1.70 It's had better days than that with a stagnant market. Take away the short covering and momentum of these two rallies and it concerns me that the 10 day downtrend BBY still shows may come back if there's profit taking on Monday. If Iraq plays into the picture we could see the mid to low teens here. That, IMO, is a real buying opportunity.

I live in Minneapolis and was at the new headquarters yesterday. (At — not in.) It's truly a magnificent building as beautiful as it is mammoth. With these layoffs it has to be a painful, heartbreaking disappointment for all the people who thought they would be working there. After this fabulous run, I wonder if any of the BOD threw in some of their options to alleviate some of that pain? Yeah, if it were a perfect world. LOL >;-)

I make regular stops at the Best Buy stores and ask the employees how business is. Sales are slow kids and expansion has been halted. Anderson is honest in his overview. I like that and still feel when the dust clears for real BBY will be fine. Be careful out there. We're not out of this mess yet.

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