Fading the Best Buy Rally
When I started working on Wall Street in the mid-1990s, "sell" was a dirty word, rarely uttered by analysts. In an effort to circumvent the use of that epithet, one brokerage stooped to the use of "source of funds" as a rating. I imagined the broker's discussion with his client would go something like this: "We're not saying you should sell this stock; we're saying you should engage in some non-specific process that would somehow convert it into money."
I don't rate stocks, but if I did, Best Buy (BBY) would be a sell, especially after the pop it experienced this week. I don't like to sell when a stock is already crushed, but when it bounces due to unwarranted confidence or just plain hope, opportunity knocks....371 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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