Shocking retailers have fallen in range -10% to -25% ahead of Black Friday.
The reasoning for the selloff has been weak weekly retail sales numbers for Nov. 2009.
Yes its true the numbers have been weak but the last week in November which includes Black Friday is the one that really counts.
Based on the stock market performance since March many people have more than doubled their March holdings. I have no doubt people will spend money this Christmas after having left their children in the cold last summer on gifts. Its one thing to do it once but I seriously doubt that will happen this Christmas.
Look for a surprise upside in retailers :
AEO, ARO, GES, JNY, JWN, JCP, LTD, M, MW, PLCE, TGT, TIF,