Changing direction and looking at another big boy toy mfg, HOG (hardley motorcycles) there was a 10% drop in share price this day due to poor earnings report. I THINK the same may happen to BC. With this economy/unemployment I would expect a drop in purchases of big boy toys.
BC reports earnings Jan 28 prior to opening. In the first week of Jan 2010, BC experienced a 52 week (52 week stock climax) high, $13.90 and has steadily been dropping since. Volume is down. MACD had red line cross over yesterday.
In simpler terms I think this may be a good stock to short.
Disclosure: I am currently bidding on PUTS, Buy To Open (BTO) Feb. $12.50 PUTS at $0.65 (IV50). May have to raise the PUT offer to complete the purchase.
I noticed the $10.00 PUTS are at $0.15 (bid $0.05), low delta and gamma though so I opted for the higher priced $12.50 PUTS with higher delta, gamma.
I am also looking for a short position on HOV, a high end home/condo builder.
Do your own research and don't take a position based solely on my statements. I have been wrong before. My account at TK is a HIGH risk account and not suitable for most investors.
Good Trading
Montana
