Retail has been one of the best sectors since the market bounce began in early March, rising about 14% during that time. Is it time to take some profits?
The run since March has been very dramatic, says Karen Finerman on CNBC’s Closing Bell. Retail has come so far so fast I think investors should be taking gains. I love Wal-Mart but I’m out of it entirely just in terms in valuation.
Another name that I liked was JC Penney which had traded down to $35. I still think it’s attractive at 13 times earnings but that’s another name in which I’m taking profits.
And what are you doing with that money?
I’m keeping that money in cash right now. But I’m always looking for the next play!
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Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MO), (MSFT), (PLCE), (YHOO) and (YHOO) Call Spreads, S&P 500 Puts, (C) and (C) Leaps,
Finerman's Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF)