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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 689.46-0.9%Feb 3 4:00 PM EST

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To: Suresh who wrote (35262)11/26/2001 1:44:20 PM
From: Johnny Canuck  Read Replies (1) of 70420
 
Hi Suresh,

I have not had a chance to check out the mall yet. I hope to this weekend.


08:25 ET Merrill Lynch on Hardline Retailers : Firm touched on several key names in a research note this morning; says traffic at Best Buy (BBY) is strong enough for company to hit low low single-digit comp sales plan -- key take-away is that PC sales look to be making a definitive bottom this Christmas; says traffic at Circuit City (CC) looked light and sees potential downside to current estimates; overall -- says hardline sales so far this Christmas no weaker than any past recession. Once investors see this, firm believes they will buy stocks of retail companies that are gaining market share. Favorites include Lowe's (LOW) and Best Buy (BBY).

08:01 ET Robertson Stephens On Retailers : Robertson Stephens believes 2001 holiday retail sales will be surprisingly strong, due to aggressive promotions and a rebound in consumer confidence due to coming victory in Afghanistan. Notes Wal-Mart (WMT) reported record single-day sales for Friday Nov 23, which was first positive data point; sees Kohl's (KSS) as best-positioned in new environment due to strong in-stock commitment.
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