Dicks Loses its Focus Status, Slated for a Another -6% Stumble

Dicks Sporting Goods (DKS – NYSE)

Friday, August 16, 2013

Get used to this chart, because it’s becoming universal!

Dicks Sporting Goods (DKS – NYSE) has been on everyone’s “unstoppable” list, with strong management and strong expansion prospects.

But today, JPMorgan Chase (JPM – NYSE) cut DKS from its Focus portfolio, because it is afraid that the sporting equipment supplier will report same-store sales below consensus forecasts for a third consecutive quarter.

What has us concerned is just how familiar DKS’ chart looks, because we’re seeing the exact same thing across the entire market – and it doesn’t look good.

DKS 081613

Bottarelli Research Tip: DKS is trying to establish support at the 38.2% retracement marker at $50.27. If this line breaks (and frankly we think it will), DKS ought to drop to $47.87 almost immediately.

In tomorrow’s LEAPS alert, we’re going to show you a situation that you NEVER see happen. In short, we describe it like this…

“The Little Fish are Eating the Whales’ Lunch”

While the “smartest guys in the room” were losing their shirts, “dumb consumers” were stocking up on this asset at a 30% discount. And now, we’re going to share with you two different ways to make a quick 50% return off this rare – yet powerful opportunity. Join LEAPS now, and you’ll receive both of these new plays tomorrow morning.

More About LEAPS: If you have not yet heard about Bottarelli Research LEAPS, it’s designed for traders who are not able to follow the markets every second of the day. Trading alerts are published every Saturday morning, and the holding times are 3 to 4 months (as opposed to a few days). If you like our research but you’re unable to follow the day-to-day trading, Bottarelli Research LEAPS is perfect solution for you.

Click here to join Bottarelli Research LEAPS today for a new-member discount.

Information, opinion, research, and commentary contained herein is obtained from sources believed to be reliable; their reliability, however, cannot be guaranteed. The maxim of Caveat Emptor applies — let the buyer beware. Bottarelli Research does not provide individual investment advice, act as an investment advisor, or individually advocate the purchase or sale of any security or investment.

Investments recommended in this service should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Bottarelli Research reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscriber’s initials will be used unless express written permission has been granted to the contrary.

CSR Group, LLC expressly forbids its writers from having a financial interest in any security recommended to readers. Furthermore, all employees and agents of CSR Group, LLC and its affiliate companies must wait 24 hours before following a published recommendation.

This e-mail was sent to buzzhairs.finance@blogger.com because you have opted in to receive the Bottarelli Research Chart of the Day. If you prefer not to receive future e-mails from Bottarelli Research, please unsubscribe from our mailing list. Your privacy is important to us. See our Privacy Policy for details.

About