For Immediate Release
Chicago, IL – 03/06/2012 – Zacks highlights commentary from People and Picks Trader “inthemoneystocks”.
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Retail Strong But At Warning Level
Regardless of the market weakness today, retail is doing well. The Merrill Lynch Retail HOLDRS ETF ( (RTH - ETF report) is trading at $40.00, +0.04 (+0.10%). This is one of the most extended sectors in the market but still showing strength.
Stocks like Dillard's, Inc. ( (DDS - Analyst Report) and Macy's, Inc. ( (M - Analyst Report) are higher today and still trading at or near 52 week highs. Retail has done well as economic news from the United States has been very strong. Anticipation of strong retail spending has propelled these stocks to multi year highs.
Based on current analysis, most of these plays are overbought. Any hiccup in economic news could send these stocks south very quickly. The key this week will be to watch the Non Farm Payrolls on Friday. Should these numbers disappoint, watch for retail to get weak quickly.
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