Here’s an entry for Boot Barn ($BOOT) (November 25, 2019)
BOOT
I want to look at Boot Barn ( NYSE: BOOT ) here. The company reported earnings; you can see since they reported the stock is up but it has recently pulled back.
This stock never gave me an ideal setup. You can, of course, look at it now and say that you could have bought here or here or whatever works for you. But I am looking at this stock now and this is a decent entry, not an awesome one but a decent entry so I thought I would point it out. And here’s why: The stock has done really well this year and I think as we go into the last month of the year there are a lot of money managers who are underperforming the market.
The S&P ( INDEXSP: .INX ) is up like 25 percent so it is kind of hard to outperform the market. It is really hard for a lot of money managers to outperform the market and I think it is just about impossible for any money manager to do it consistently; as a trader, that’s a different deal. But as a money manager you want to get those positive numbers and towards the end of the year what they tend to do is buy the winning stocks.
I can see Boot Barn ( NYSE: BOOT ) here; it has pulled back after a really nice move, almost kind of a climax move, and it’s back just 8.5 percent, at one point over 10 percent below the high. Today we see lower than average volume but we see the stock stabilizing. So I think you can be buying the stock right here. I wouldn’t expect it to run up like that, I don’t think it’s going to do that if it did that would be awesome. But I think it is more likely to just kind of find some kind of firmness here and then ultimately run higher over the next few weeks. That’s a trade that I think you can take.
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