From The Reformed Broker:
I started talking about Target a few weeks back in media appearances as part of a new consumer retrenchment trend – lower-end store chains were benefiting while the bloom came off the rose for the high-enders and the luxury goods stocks. Wal-Mart and Target were two names due for a run and Target finally broke above $59.50 resistance late last week.
Target is a large, well-run company with [...]
December isn’t looking as great as advertised, as retailers reported weaker-than-expected sales and dragged stocks to a muddled close. Tech stocks offered one of the day’s few bright spots. The dollar rebounded to a two-week high, and the correction in commodities resumed with crude oil finishing below $89. NYSE decliners led advancers by about four to three.
Blaming the weather:
Any lingering notion that Americans are back to their free-spending [...]