Playing JC Penney, Kohl's & Nordstrom Ahead Of Earnings
Retail investors are bracing for a storm, coming later this week. J.C. Penney (JCP),Kohl's(KSS), and Nordstrom's (JWN) will barrage Wall Street with quarterly earnings on Thursday. That leaves you one day to make your move. What is it?
Jeff Macke reminds the panel that he thinks the releases this quarter are going to be uniformly bad. Don’t short the space, he says, just avoid it.
Jeff adds the exception will likely be Nordstrom. He expects JWN will be in-line, but otherwise he doesn’t like the sector.
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Trader disclosure: On May 15, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders :Macke Owns (SWY), (JWN);Strazzini Owns (WMT) (NWS-A), (SNDK), Strazzini Is Short (MU); Bolling Owns (DIS), Gold, Silver, Coffee, Sugar; Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures NBC Universal Is The Parent Company Of CNBC