October Same-Store Sales

It’s the first Thursday of the month, and that means the nation’s retailers are reporting same-store sales for the month of October.

In a poll by Thomson Financial, analysts are expecting sales at stores open for at least a year to rise 2%. According to Dow Jones, it may be the best showing since April 2008. Some retailers may even go as far as raising guidance for the third quarter.

Last month, TJX (TJX) J.Crew (JCG), and Lululemon Athletica (LULU) were some retailers that upped their forecasts due in part to better-than-expected October sales. For more, see Josh Lipton’s Three Retailers to Short.

From the Bull Pen: Consider an upside play in Aeropostale (ARO), a best-of-breed retailer. The stock is trading at its 200 DMA (near 34) right now in the premarket. One can set a sell stop below that level.

From the Bear Cave: Keep an eye on Abercrombie & Fitch (ANF). A failed rally to 35-36 could be confirmation that the top is in for this teen retailer. Should that happen, those playing the downside might consider setting a buy stop above 37.50.

A Quick Check Around the World

Asian trading closed with the Nikkei -1.29%, India 0.95%, Hang Seng -0.63%, Shanghai 0.85%, and Taiwan -0.66%.

Across the pond, we see the FTSE -0.60%, CAC -0.46%, DAX -0.49%

As of 8:15 a.m. EST, S&P Futures are trading +1.00 to 1048.00 and Nasdaq futures are +3.250 to 1690.50.

A Look at Commodities

Over in commodities, crude oil is -0.22 to 80.18 while gold is +5.00 to 1092.30 this morning. Silver is +0.25 to 17.430 and copper -1.950 to 297.35.

The dollar Index is +0.0100 to 75.8350.

On the Radar

Economics

08:30 Productivity 5.8% cons.
08:30 Initial Claims
08:30 Continuing Claims

Click here for the full trading radar.

Thirsty Thursday! I’m out tomorrow so that’s it for me. Have a great weekend!