It has been a decade or more since we stood in a Black Friday line but count us as one of the crazies that braved the cold last night to get a good deal. Of course, we were on a mission to get Microsoft’s (MSFT, $38.24, up $0.64) xBox One after the big retail stores sold out of the systems last Friday on the first day of its release. But there was “no deal”. You are lucky to just get one.
The systems were going on eBay (EBAY, $50.58, up $1.29) for 7 bills ($700) last week and we haven’t checked today but we would imagine the same. In the Atlanta area, xBox One’s for going for a “G” ($1,000).
Here in Our Town, all of the Wally World’s had sold out of the xBox One’s within hours after opening their doors. We decided to visit a Wal-Mart (WMT, $81.11, up $0.18) to see if we could buy the model display but that idea was quickly shot down when the sales associate flatly said “ah, no”.
We the took a ride to Best Buy (BBY, $40.19, up $0.58) to check the scene there and needless to say they were slammed. We strolled inside and talked to a sales guy who alerted us they had 25 xBox One’s that were going to be sold at midnight. He said the line was forming outside and we had noticed about a dozen people standing in a huddle outside the store. It was 30 degrees.
Bingo. We were in like Flynn.
Near midnight, the tickets were passed out for the xBox One’s and the line was just long enough that all 25 were reserved. Most consumers figured Best Buy had already sold out if Wal-Mart Stores were out of stock.
After paying a little over $700 for 2 games, accessories and the system and waiting in another line for an hour, we rushed to our office to hook it up. One word. Amazing. No wonder, most of the stocks we have mentioned in our journey are at 52-week highs.
The Dow and S&P 500 are working on their 8th-straight week of gains with the bulls putting on the finishing touches of another good week and month.
As we head to press, the Dow is up 47 points to 16,144 while the S&P 500 is advancing 5 points to 1,812. The Nasdaq is higher a double-deuce (22 points) to 4,067.
We have some last minute updates so let’s go see where things are at. We will be back Sunday night with our Weekly Wrap and on Monday morning with our next Daily update. Until then, have a great weekend everyone!