As I reported a while back, Macy's is in trouble and headed lower. Today U.S. retail sales were reported and rose less than expected in October. One of the big surprises was the automobile sector and the decline in the purchases of new cars.
The Commerce Department reported that retail sales edged up 0.1 percent last month after being unchanged in September. Economists and traders had been looking for a sales increasing 0.3 percent.
October was a spectacular month for stocks, but November may prove to be a different animal with potential roadblocks.
Many professional traders are looking at major resistance from the old highs in May of this year. I believe that the major indices are going to have their work cut out for them to move over these levels in the future.
On November 9th, I talked about Macy's Inc. (NYSE:M) showing what I believed to be major weakness in this stock. Macy's earnings were announced this morning which disappointed the market and pushed it down over 13%. I think this is a testament to MarketClub's Trade Triangle technology and the reassurances and confidence it provides investors.
I will also be taking a look at Alibaba Group Holding Limited (NYSE:BABA) that had a record sales day, generating over $10 billion in gross merchandise sales in just over 14 hours. Should you buy Alibaba here or just be on the sidelines?
I'm going to do something a little different today and look at three stocks that I talked about in an earlier video and a MarketClub member asked us to follow up on. The three stocks in question are The Walt Disney Company (NYSE:DIS), Monster Beverage Corp. (NASDAQ:MNST) and News Corporation (NASDAQ:NWSA). I will see where they were trading before earnings and where they are now after earnings.
Also in today's video update I will be looking at gold which is in a very special place right now and definitely should be on your radar screen. In addition to the gold market, I will be looking at the dollar, crude oil and the major indices.
Have a great trading day everyone.
Every success with MarketClub, Adam Hewison
This stock goes along with family, apple pie and the American flag. I'm talking about is Macy's, Inc. (NYSE:M). Every year for as long as I can remember Macy's has their annual Thanksgiving parade. It's quite a spectacle with marching bands, TV coverage and floating balloons. It all sounds wonderful and glossy and bright, but underneath the glitz and glamour, how is the business of Macy's really doing?