Two Ways: Radio Shack Electrifies?
Strengthen your portfolio in good times and bad.
According to the Wall Street Journal, same-store sales rose 5.6%; the increase would have been 6.2%, absent an extra day a year earlier. Online sales rose 28%, but gross margins fell from 47.4% to 46.7%.
From the Bull Pen: The retail sector has been acting well, but bulls can wait for better entry in most stocks. Walgreen (WAG) may be an opportunity on a pullback towards $28.50.
From the Bear Cave: RadioShack has major headwinds against it - especially if you believe consumer spending hasn't reached its ultimate nadir. On a technical basis, see RSH fill in its downside gap. Bears can play the short side, with an entry at $11-11.50-ish. Note major resistance at 11.50. A buy stop can be set above that level.
Quick Check Around the World
Asian trading closed with the Hang Seng 2.26%, Nikkei 1.37%, India 2.93%, Shanghai 0.11% and Taiwan -0.18%.
Glancing towards Europe, we see the CAC 0.19%, DAX -0.46%, FTSE 0.41%
As of 8:15 AM EST, S&P Futures are trading +8 to 844.00, and Nasdaq futures are +13 to 1342.00.
A Look at Commodities
Over in commodities, crude oil is trading +0.85 to 49.70 while gold is unch at 892.50 this morning. Silver is +0.060 to 12.370 and copper +2.75 to 208.70.
The dollar index is -0.2250 to 86.2600.
On the Radar
08:30 Initial Jobless Claims
08:30 Existing Home Sales
Click here for the full trading radar.
Thirsty Thursday! Join us at Turtle Bay after the closing bell! Good luck!
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