Full of thoughts today, so alot of posts.
As everyone knows the retail numbers were horrible today.
What I bet some people haven't thought of is that they were worse than they appeared. Considering how many gift cards were sold in December this should have softened the pain felt in January. It didn't. I am not a CPA but my understanding is that gift card are not recognized as reveune until they are executed. Many of these were executed in January which means retail sales oustide of gift cards were just horrid.
Not a trader but the retailers showed decent strength today all things considering. In this case probably sell the rumor buy the news. What is interesting though is that volume was not really that impressive. Targets volume was normal which I do not think speaks well for more strength over the next few days. Like I said not a trader (have not executed any orders this week) but was something that caught my eye.
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