May 13, 2009
– Comments (1)
Retail sector was down 4 straight session prior to today's numbers, shows that today's numbers were not a surprise.
No way retail numbers were baked in. Majority of retailers are up 100% and more from the bottom. They will keep rolling over. It was a major short squeeze that moved them higher.
I am currently short JCP, M, RSH, GPS (this one may be not as good of a short), OMX and CAKE. I couldn't get any shares on JWN to short.