Due to a ceartain technical indicator I discovered years ago it is almost a lock that BBY at least goes back down to about 15 bucks.
Time to abandon your indicator.
We retested lows and now the market rally is upon us.
Unlike other retail areas like, say, home improvement, where you have Lowes or Home Depot or Menards, the electronics area is served by Best Buy, Circuit City, some computer retailers like CompUSA, and some office supply companies like Office Max. Best Buy has the greatest pure electronics appeal with Circuit City being second. Forget about Radio Shack or Electric Avenue or Audio King. Best Buy is big and visible.
OK, it will be subject to the same market conditions as all retail, but I think back to the mid and early 90's when electronics was a stereo system, a TV or cable system and PC's. Now it is much larger than that and demand is much broader. And Best Buy is an enormous US venue for manufacturers. I think Best Buy is in an advantageous position, but stuck in a bad and uncertain consumer environment.
I hope Q4 is good to Best Buy and our local economy.
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