What, and Who, Can Move the Markets

By Jeff Macke  MAR 16, 2010 1:00 PM

A Citi analyst spiked a two-day rally; my thoughts didn't move a penny.


Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial).

Greetings from New York where I’m considering sending Deborah Weinswig a note explaining that I liked Walmart (WMT) first. The very capable Citi (C) analyst spiked a two-day rally in the Bentonville Behemoth with an upgrade yesterday. I didn’t move the stock a penny when I expressed my belief in the retail rally a few weeks ago. I also didn’t move Nordstom (JWN). I didn’t move Abercrombie (ANF) and I didn’t move Target (TGT). They moved without me. Yes, my feelings are hurt. Deborah’s logic was that Walmart is starting a cost-cutting war, specifically in groceries. My logic was that retail was moving higher, a lot of people were short the names and the American consumer is more durable than Jason from Friday the 13th and Charlie Rangel’s political career combined. In retrospect I should use numbers next time.

No positions in stocks mentioned.

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