Retail Round-Up: Wal-Mart, Target Disappoint-Minyanville

Retail Round-Up: Wal-Mart, Target Disappoint

Jeff Macke Aug 07, 2008 3:29 pm

Retail Round-Up: Wal-Mart, Target Disappoint


		The skinny on big box players.

Hello from New York where I just finished taping an episode of The Big Idea. What's today's burst of inspiration, you ask? Merging the Retail Round-Up with my more run-of-the-mill column observations. You want a one word summary of the results? I'm sticking with "uninspiring."

Here's the most interesting results from the retailers and the other stuff I'm noting as I
whip through a crazy Thursday:

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I talked myself into selling Wal-Mart (WMT) as it runs into long-term technical resistance on last night's Fast Money. That would seem to be a good example of a conversation I shoulda found time for a bit earlier.
Target's (TGT) miss was more concerning, on a company-specific level. Minnesota's finest has hit the wall over the last year for a bunch of reasons seemingly boiling down to "mojo."
In terms of my short book, Toyota (TM) is holding up okay despite a lousy earnings
report. I respect the response but I'm pretty confident of the bearish case for TM.
Speaking of reacting well to unsolvable ills: Can any sell-off in the financials really
ever be thought of as a surprise? "Trading Vehicles" and, from where I'm sitting, they seem more of a sell than a buy at this point in the range.
Emerging markets continue to be miserable with today's excuse being a strong dollar. The EEM and FXI ETFs look to be cruising for a continued bruising.


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Jim M

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08-07-2008, 6:56 pm
Into the abyss the dead cat goes Will he bounce nobody knows It's another life for this fat cat To test its fate and find where were at Into the aft of his fourth life He descends so fast like a falling Read More


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