For the records,
The sector tanked average of 25 to 30% while the market tanked 12 to 14%
I had three blogs on retail sector - stocks like BKE, JCP, KSS and ANF
On july 6 I wrote, Retail sector still weak - not participating in market bounce
http://www.peopleandpicks.com/blog/rjm77me/3364805/Retail-sector-still-weak--not-participating-in-market-bounce/
and Retail Sector under pressure - up date from 5 weeks ago
http://www.peopleandpicks.com/blog/rjm77me/3351248/Retail-Sector-under-pressure--up-date-from-5-weeks-ago/
and the first one on may 13, 2010
http://www.peopleandpicks.com/blog/rjm77me/3329673/Retail-sector-rotation/
My take is the sector will perform with the market
Tech sector or Semiconductors and Financials are undersold. I am not suggesting a buy here. Just start making a list of stocks you like in the sector or start taking a small positions like 20% of your normal buys on dips.
MY trade of day was buying GNK at 15.12 around 9:55 AM and selling at 15.72. It has worked for me in last 4 weeks.
Please do your own home work. i AM JUST SHARING MY VIEWS.
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August 24, 2010
Edited: August 24, 2010
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