“I think it is early to buy retailers. The damage is sever and we need some stabilization. I sold my long-term target position yesterday.”
Well they may go down, but so far it has beat cash. My small WMT position is up 5% in a week. I also bought 500 shares of DKS at the open and sold it a couple of hours later for a 20% gain.
And they say markets are efficient!
Sometimes it is more the expectations of the market. If everyone knows something, of thinks that they know something, it is already baked into the price.