Best Buy's 40 Year Old Virgin Top

Best Buy's sizable earnings gap up this morning takes the stock roughly back up to where it was during its heyday, right around the time the film, The 40-Year-Old Virgin was released in mid/late 2005. The comedy is a film based around a store in which the main characters work, and is not unlike a scaled-down version of a Best Buy, itself. 

Several months ago, we observed the tightening pattern on the BBY monthly chart, denoted by the light blue lines, below. BBY was peeking its head up and out of the pattern, and quietly became one of the cleaner charts in an abysmal retail sector. 

This gap up to just below prior all-time highs this morning not only reinforces the bull thesis BBY, but it also compels us to reiterate that Amazon is not destroying the world, just a chunk of retailers we need to avoid.

Even though I expect BBY to consolidate at these highs (and despite the title of this blog post), the action is very bullish and I would be looking at pauses as potential long entry points. 

Overall, regarding BBY FIVE, and a few others, all is fair in love and retail war.