LONGS
- DKS Upped to Best Ideas. All durations aligning.
- MIK added to Longs for first time. One of few winners, and sentiment overblown.
- BBY upped to top vetting name. ‘AMZNing’ in 7th inning. TREND looking better.
- LB off long bench. Couldn’t get an edge. Sex sells…until it doesn’t.
SHORTS
- CRI up to BEST IDEAS. TRADE, TREND, TAIL lining up. This is #2 to HBI.
- VFC new Short. TREND and TAIL bad for one of the best 20-year charts in Retail.
- TJX New short. Ditto as VFC. Macy’s becoming the new off-price. I ‘get it that mgmt is great’. But only matters to a point.
- ROST Same, but lower quality w more marginal apparel exposure. #reflation = negative comps and reduced velocity.
- PVH Never trusted management. Now I don’t trust the business.
- RL Higher on list. Should earn $2.75 before $5.00.
- UA Higher on list. More business risk than people think. Still think Plank needs a capital raise $5-$10 lower.
- PRTY ‘Party Off’ dude.
- GOOS Structurally inept to go public. Opportunistic Bail deal that should not happen.
- JILL Such a bad IPO.
- LB See above. Sex sells, until you make stupid moves – and sell ‘speed dating’ instead of sex.
- GPRO There does not need to be equity value. Like TLRD, GNC, FOSL, this should keep blowing up. Underinvested in technology relative to peers. That’s like Nike being underinvested in Sneakers.
