Eight Retailers Look Right for Holidays
This column was originally published on RealMoney on Nov. 15 at 11:59 a.m. EST. It's being republished as a bonus for TheStreet.com readers.
On Monday, I examined the retail sector and its mixed holiday prospects.
Today, let's continue the discussion and identify stocks to trade as we head into the most important time of the year for America's shopping malls.
Expect a stock-picker's market in the sector as we approach year's end, rather than a raging bull market.It's late in the economic cycle and consumers will need good reasons to open their wallets during the holiday season. In this type of environment, careful selection should pay off; throwing money at these stocks could be a disaster. I'd also stick with the group leaders for now. These stocks have risen to the top for good reasons and should continue to outperform through the holidays. In other words, you'll do better buying lofty highs than chasing basement bargains. Here's my watch list of the eight strongest stocks I could find in the group. Notice how some look ready to enter right now, while others should be watched closely until key price pivots are hit. Conn's (CONN) is a fairly new issue, having come public in early 2004. It's been in a steady uptrend since that time. The stock broke out to its latest high two weeks ago, after a six-week consolidation near $29. It's now congesting in a tight triangle pattern that may set up strong follow-through into the upper $30s.
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