Cant write too much here for now..will try agin later tn at home.
Would reccommend you note down your stop loss position on this one. While the stock was on the slide before today there was still a lot of faith given to the Lowys and that is presently shattering.
This placement looks hasitly arranged and done prior to the release of their results. It suggests the results are going to be bad..and potentially worse than what was already indicated.
Here is the problem: $3b write down on a $45b potfolio is still not enough given the real asset writedowns that have occured elsewhere. IMO retail real estate values have fallen by 20% in the states and so far, about 8-12% in Aus.
WDC Price at posting:
$8.18 Sentiment: Sell Disclosure: Not Held
