Doesn’t look like Friday will be a good day for my portfolio…

October 11, 07 by Stealthy

I checked on one of my holdings after closing and I saw where Coldwater Creek has fallen about 16% in after hours trading.   I’ll be getting my ESPP statement next week. I’ll be posting my numbers from that.  Also I’m trying to save up $2k to pay for my ESPP in one lump sum for the year.  That will boost my paycheck up by about $75 each paycheck.

I’ll just try to think positive while work on some side project to create some extra income.

Have a good weekend!

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3 responses for this post

  1. Jon Says: 12.10.07 at 1:30 pm

    Are you planning to buy more, cut your losses, or just hold?

    Looking at their financial info, it seems like they have enough cash and equity to last for a while. Apparently they’re starting a stock buyback program to take advantage of the low price. Maybe it’s good news in disguise!

  2. Stealthy Says: 12.10.07 at 10:14 pm

    I’m planning to just hold it and see how things look in six months. I’m pretty sure that they will bounce back. This is a wake up call to management to do something and I’m confident they will straighten up.

    I don’t want to put any more money into it just in case something were to happen and they didn’t straighten up. If I had money I was willing to take a gamble with I would buy in at this point, but I don’t have any more “gamble” money in my portfolio at the moment, I spent my gamble money last month during it’s big drop thinking that was an over reaction by the market. I was a little off. I would say this is just a hold unless you had some money you was wanting to take a gamble with at a chance of doubling up losing.

    Have you thought about getting in this low?

  3. Jon Says: 13.10.07 at 10:00 am

    I don’t know enough about them yet (I’ve never even been in one of their stores), but it is intriguing so I’ll do some research soon.

    From a few articles like The Street’s and CNN’s, it seems like there’s a possibility that this store will be severely affected by an economic downturn. They seem to depend on sales of relatively expensive clothes. The thing is, they’re not so expensive that only millionaires (who are probably unaffected by recessions) buy them — it seems like more of a middle / upper-middle class rich wannabe store.

    On the positive side, their management seems to have more of a long-term view than stock analysts. For instance, they’re being criticized about their store expansion policy (65 new stores each year), but they say it’s a good time to do it because prices are down. So they’re willing to accept a loss in order to buy valuable stuff…

    I think it seems like there is potential in the company over the next few years but it might get a bit lower before it gets better.

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