Sell Short Macys (M) and Retail Holders (RTH)
CNBC’s Karen Finerman was bullish on Macys this evening. Fast Money’s Guy Adami was bearish. I love Karen but her bullish position based upon hope and fundamental is wrong. Guy Adami was correct with his bearish argument.
The stock charts are showing the both the Retail Holder (RTH) and Macys (M) are setting up for lower prices. The impact of JC Penny (JCP) cutting prices will adversely impact like kind stores such as Macys and will pressure the RTH lower.