Option Investor
New Plays
HAVING TROUBLE PRINTING?
Printer friendly version
New Plays
Long Plays
Short Plays
None JOSB

New Long Plays

None today.
 

New Short Plays

Jos. A. Bank - JOSB - close: 39.95 change: -1.59 stop: 42.21

Company Description:
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 283 stores in 38 states and the District of Columbia, a nationwide catalog, and an e-commerce website that can be accessed at www.josbank.com. (source: company press release or website)

Why We Like It:
Apparel retailer JOSB had already broken its bullish up trend back in early August but today's news from Wal-Mart may have just sparked the next leg lower. WMT guided lower for its third quarter citing higher fuel costs as impacting consumer spending. This led to a 2.6% decline in the retail sector index (RLX). The selling in JOSB was sharper with a 3.8% decline as traders rushed to lock in profits. We believe there is more weakness ahead. We are suggesting shorts with JOSB under the $40.00 mark and will target the $35.50-35.00 range. More conservative traders may want to consider exiting near 36.60, which was resistance in April-May and could act as support now. The P&F chart is bearish and currently points to a $33 target. Please note the risk in this play is elevated because we have a short time frame. JOSB is due to report earnings around September 8th and we plan to exit ahead of the report. That only gives us about three weeks.

Picked on August 16 at $39.95
Change since picked: + 0.00
Earnings Date 09/08/05 (unconfirmed)
Average Daily Volume: 297 thousand
 

Premier Investor New Play Archives