Traders Fade Retail Bounce

Originally Published in Charting the Markets November 25, 2007 11:05 PM

Tales of packed shopping malls in North America are lifting Asian markets in early trading Monday. A little retail therapy might temporarily enable Americans to forget about the imploding real estate and credit markets, and retail stories are sure to dominate the trading day on Monday. The (RTH) ETF held support on Tuesday and Wednesday last week, but traders are likely to fade it on any bounce heading into the end of the year. A lot of bad news has been priced into these stocks, but is hard to see them leading a sustained charge to the upside.

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