Long Position on OSTK @ $30.00 on 7/2/2013 (Momentum)

Overstock.com (OSTK) operates as an online retailer providing discount brand name, non-brand name, and closeout merchandise in the United States and internationally.

The company’s merchandise comprise furniture, home décor, bedding and bath products, clothing and shoes, house wares, jewelry and watches, apparel and designer accessories, electronics and computers, books media, music and games, luggage, world stock fair trade products, health and beauty products, baby, crafts and sewing products, office products, gifts and flowers, toys and hobbies, pet products, and sports and outdoor goods.

It also operates an online car listing service that allows sellers to list vehicles for sale and allows buyers to review vehicle descriptions, as well as provides books, magazines, CDs, DVDs, and video games. Overstock markets its products and services through its Internet websites, which include overstock.com, o.co, and o.biz; and sells merchandise of other retailers, cataloguers, or manufacturers through its Website.

Shares are in the process of moving higher out of bullish "flag." Note that the firm reports its quarterly results on July 15.

52-Week Trading Range:  $6.12 - $30.61

Entry Point:  $30.00

Stop Loss:  $28.50

Target Price:  $33.00

Updates

7/3/2013 10:06:27 AM

OSTK is lower due to the downgrade by Merrill Lynch. The position was closed at $28.40

Position closed on 7/3/2013 at price of $28.40 with a -5.33% loss in 1 days.

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