Just closed my short position at $24.68 for a 1.12% gain. Got tired of waiting, and there's a dividend next week that I didn't want to be on the hook for. Still a long-term bear, but there will be more chances with this one when the market hits a downturn.
I used to be all about multiplayer as well, but now I prefer those good old grand RPGs with 100 hours of gameplay. All the lore...
http://kotaku.com/new-gamestop-program-leads-employees-to-lie-to-customer-1791874332 Forget the technicals. As soon as I heard gamestop was reporting this week I remembered reading that article some time ago and knew to buy puts. As if being terribly managed isnt enough gamestop is mall based, has competition from amazon for console sales, and it seems microsoft and playstation are launching digital subscription services to distribute games now. Forget single digits, I don't think gamestop is going to exist come this time next year.
I dont take pleasure in seeing business suffer, but its a really tough space to be in. If you were the CEO, what would you do to try stabilize things?
I don't think there is anything they can do. If the industry keeps shifting to online game distribution, which it will, they are done. In the end of the day they are just a middleman, and they are being cut out. I think I heard microsoft is even starting some type of monthly subscription where you pay like $30 a month and get to play any game you want. If so who is going to drive to the mall to deal with an over aggressive salesman and shell down upwards of $60 for 1 game now. Add to that they lost any goodwill they had with their loyal customer base and it's pretty obvious there is no hope.
Game renting from Microsoft, PlayStation Now... There is no more room for services like Gamestop, unfortunately.
I had an interesting conversation with the clerk at our local GameStop the other day, and I'm wondering if anyone here can back his claims up First off I should come clean and admit I'm not a gamer... Occasionally I'll "let" my kid beat me in a game of Madden or Mortal Kombat, but that's as far as my interest goes So last year I got my kid that Xbox One for Christmas, and instantly I turned into an old man, talking about the way video games were in MY DAY... You put the cartridge in and play!...... But he spent all morning downloading junk and I got to thinking There is a disk with data on it, so why do you have to download the game??..... Obviously, so Microsoft can scalp the resale industry and muscle more market share..... If the disk is worthless, you can't loan it out and you can't trade it in at GameStop Survival of the fittest right?... Netflix kills Blockbuster, Microsoft kills GameStop But according to this clerk, that's not happening.... Apparently consumers won this fight.. The disks can be used in multiple consoles or resold... Meaning the used video game market is not dead Is there truth to this?
Yes, you can still buy used games, the problem for gamestop is that most people don't care about the disk anymore, so they can just download the game from the Xbox store without having to leave the comfort of their own home. Makes it easier to buy games on a whim too before talking yourself out of it.
Good to know But I think the whole idea is stupid, or really smart... One of the two So... When your Xbox gets full, you have to delete old games before you can buy new ones??..... Or, of course you can buy more memory to keep your old games, in essence paying for them twice I remember when Mario would get old, I'd just put it on the shelf until i felt like playing it again... But today, I'd have to delete another game and download Mario all over again every time the princess needs saving??
As for GameStop, I'll let the chart answer any further questions BTW, I finally found an app where I can edit charts on my phone! First thing I would like to see is this channel broken to confirm the possible trading range I drew (between $20.00 and $27.00) Second, another test in the $20.00 area, where heavy volume has stopped the decline twice..... Then I might think about taking up a small position Right now I get a $35.00 target on a .50 x 3 P&F chart.... But I doubt it's anywhere near ready to break out
That's the Technician app! When I look at the weekly chart, I'm waiting to short this around 25-26 MACD not going above 0 line means price is not going above the 50 ma; 50 weeks is approx. 200 days.
Yes... Technician app...... How did you type text onto yours??... Mine only lets me do lines and channels I think $26.00 would be a good short, cause it would confirm my range It busted the 50 DMA today, and you're right, the 200 DMA (or 50 SMA on a weekly) is sitting right at the top of said range
I actually don't use the app, but I have it on my phone. Just can't use it personally because I don't think I could be precise enough drawing with my finger on a little phone screen.
You need smaller fingers! Or at least find the closest child standing next to you, and make them do it! Caution: This could be weird if you are in a public place away from your own children.
