When I wrote the article on retailer stocks on Monday, during the Martin Luther King holiday, I really did think that they would be good contrarian plays but even I was surprised about how well retailers performed during the last couple days. Stocks such as American Eagle Outfitters Inc. (AEO) [up almost 4% Wednesday], J. C. Penney Company, Inc (JCP) [up over 2.5% Wednesday], Limited Brands Inc. (LTD) [up 7% Wednesday, and Saks Inc. (SKS) [up almost 5% Wednesday], were up substantially two days in a row.
Now I am looking for the next contrarian play.
Disclosure: Author does not own any of the above, unfortunately.
By Fred Fuld at Stockerblog.com
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