Retail Names Bottoming?
We have been watching retail stocks closely in the Alpha Chasers Community.
We are finally starting to see Michigan Consumer Sentiment data, which tells us the strength of the consumer, come in better than expected.
It has been better than expected both from a short-term perspective and long-term perspective, which is very important.
Names to Watch
Some names I am looking at include RL, ELF, and ANF.
RL and ELF tell a similar story. Both reported earnings last ween and dropped pretty significantly, only to be nonstop bought during trading hours.
When you see buying of this magnitude after what is considered below expectation earnings, you need to pay attention. This signals that the index may be washed out and it is time to begin buying these names.
ANF is a different story - we are already at all-time highs. The stock has been a top performer all year and continues to be very strong.
I review the XLY sector as a whole in the video below and have some additional retail names I am looking to trade this week: