RE: Recent downtrend..I would suggest we are significantly oversold. There have been no company announcements since Q3 earnings.
Q3 had negative same store sales, but earnings are still in the neighbourhood of $5 per share. We are trading at 12 x P/E, which is way too low. We should trade in the neighbourhood of 15 x P/E, which gets us back to $75, which is where we were after the negative Q3 earnings were first released and would represent a 13% drop from the mid 80's level where we were in the fall. Right now we have dropped 30% from the fall highs which is ridiculous.
Q3 earnings are on February 7th. I see upside from there as all the bad news (and more) is already baked into the current slide.....