Retailers had quite a day yesterday. Macy’s (M) rallied 5% on weak guidance. Target (TGT) is at new highs for 2014 and only 1% away from the 52 week high made a year ago. Even …
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Despite some high profile disappointments in the last couple of weeks by retailers like ANF, COH, KORS, KSS and WMT, the sector as a whole has caught a rally of late. The increased optimism about the U.S. …
Continue readingSince making new all-time highs in November of last year, Whole Foods (WFM) is down about 41%, and down 33% in 2014 alone. While the chart of the stock looks a bit oversold on a …
Continue readingRealized volatility in the S&P 500 index continues to pick up, with 10 day realized volatility only 4 points away from the 1 year high: SPY options were active again, while the rest of the …
Continue readingAnother low volume day for the market (the S&P 500 index has been in a 45 handle range for the past 2 weeks), and most of the options volume was once again in ETFs. 1. …
Continue readingBack in Late February I dubbed WFM’s technical set up ” The Triangle of death”, from Feb 26th: With a month gone by, the chart looks a bit more precarious, now sitting just above that …
Continue readingLast week, (in fairly dramatic fashion!) I highlighted WFM’s one year chart and dubbed it the “Triangle of Death” (below). Last night, WFM competitor, The Fresh Market (TFM) reported results that were below consensus, citing …
Continue readingWhen it comes to technical analysis, I consider myself a “hobbyist” of sorts. One of the first things that I learned in this business was recognizing patterns that geniuses before me had already defined. Every …
Continue readingThis morning we discussed the price action in retail and consumer discretionary and what appears to be an ever growing list of meaningful earnings disappointment for the holiday season (MorningWord 1/16/14: Shooting First & Never …
Continue readingRetail’s weakness to start 2014 has been greeted by the broader market with a fair bit of complacency. Investors have shrugged off one negative sales report after another with the view that the problems are …
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