They’ve been beaten down since August, but this week retail held strong. Can you trust these stocks if the consumer is supposed to be dead?
The sector was so oversold, says Karen Finerman, that in the last 2 days while the market has moved lower retail has been rebounding. And many retailers have tons of cash on the books. I like DSW Inc. (DSW).
I also think you can make a small basket, says Jeff Macke. Look at Macy’s(M), Nordstrom (JWN) and Wal-Mart (WMT).
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Trader disclosure: On Jan 18, 2008, 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 (INTC), (YHOO); Najarian Owns (BIIB), (C), (CSCO), (MS), (MSFT), (EMC); Najarian Owns (LEH) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (PLCE), (TSO), (VLO), (WMT), (YHOO), (M), (AEO) (DSW), (SUN), (SKS); Finerman's Firm Owns Russell 2000 Puts And Is Short (IWM); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Is Short (MDY), (IYR), (IJR), (SGP), (TCO),(SPY); Finerman's Firm Is short (LEH) And Owns (LEH) Puts; GE Is The Parent Company Of CNBC