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Fast Money HomeFast Money Rapid RecapAbout Fast MoneyFast Money BiosFast Money Web ExtraFast Money Disclaimer
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Feb.06
6:27 PM ET
Wednesday, 6 Feb 2008
Worst Sales In Almost 40 Years?

Thursday’s January retail sales figures could be the worst since 1969 as Macy’s [M  Loading...      ()   ] already reported a 7% plunge in its sales for the month. But not all retail is dead money.

“It’s going to be ugly,” Jeff said. Macy’s seems to have at least partially answered the big question of whether the bad news is priced into these stocks already. Now, the best way to play retail is to patiently make a shopping list and “let the market come to you,” he said. There should be time to catch up when retail makes a better bottom. Until then, Wal-Mart [WMT  Loading...      ()   ] and Costco [COST  Loading...      ()   ] are two names he would buy on pullbacks.

Karen Finerman noted that American Eagle [AEO  Loading...      ()   ] had earnings down 7% but reaffirmed its forecast and the stock is subsequently up in the aftermarket, making her think that maybe the whole space isn’t tainted by Macy’s suffering.


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Trader disclosure: On Feb.6, 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), (DIS); Najarian Owns (BIIB), (CSCO), (EBAY), (MSFT), (XLF), (C), (BIIB), (NWA), (AMR); Najarian Owns (AAPL) Calls, (NIHD) Calls, (SKS) Calls; Najarian Owns (MA) Puts; Finerman Owns (GS); Finermna's Firm And Finerman Own (TEL), (TYC); Finerman's Firm Owns (KSS), (RTH), (RTP), (WMT), (YHOO), (JCP), (AEO), (BR), (SUN); Finerman's Firm Owns (MSFT) And Is Short (MSFT) Calls; Finerman's Firm Is Short (SPY), (IYR), (IJR), (IWM), (MDY), (BHP), (COF), (SPG), (WFC), (MHGC); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Fineramn's Firm Owns (CROX) And (CROX) Options, Finerman Owns (CROX)

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