All of their stocks are in the green year to date except for Nordstrom, which is down almost 48%. Gap has been this group's biggest gainer, up over 41%.and a somewhat unpredictable holiday season around the corner, traders are on the lookout for anything that might indicate how the end-of-year spending story might play out for retailers.
"When you look at this chart of Best Buy, it's in a very nicely established upper-trending price channel and all we've seen as of late is just a nice little sideways consolidation, but the primary trend is still higher," Johnson said."I'd still be buying that stock heading into the earnings print here and I see a nice sort of implied option move in this name, too, about 7%," he said. "So, I think that's one that should be bought.
Consumer spending will likely take "longer than the market thinks" to come back in earnest, Boris Schlossberg, managing director of FX strategy at BK Asset Management, said in the same "Trading Nation" interview.
Keep pumping the market. Its Monday! That means miracle vaccine news 1 hour before open! cramerbubble