There is a buzz regarding retail stocks and the J.P. Morgan 5th Annual Boss’ Retail Round-Up Conference, held at J.P. Morgan, 383 Madison Avenue in New York City, on Wednesday, April 10, 2019, at 12:30 PM Eastern Time. Many of these stocks are being bought in anticipation of good news from these CEOs.
Watch FND, DKS, HD, LOW, LULU,W,CPRI,PVH,HIBB,OLLI,COST
Home Improvement – FND
Floor and Decor (FND) broke out Thursday volume slightly above average. We are looking for a follow through as ADX (lower panel) suggests the trend is strengthening. MACD is above signal line.
Floor and Decor Short Percentage
Shorts would need 5.4 days to cover, with 8 million shares (19%) of the outstanding currently holding a bearish view of the company. Obviously, any appreciation in price will trigger more positions.
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Dicks Sporting Goods
Dicks Sporting Goods (DKS) popped up on the scanner several days this week. ADX is suggesting the trend is strengthening. MACD is above the signal line and rising fast. Watch for an increase in volume, as shorts will cover if the stock
DKS Short Percent
Shorts need 4 days to cover positions, with 22% of the float short, or 15.7 million shares. A pop would likely last a couple days.
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Homework – Retail Stocks
Check your favorite retail stock, as there are too many “good” names to cover in this morning post. Look up the short percentage on “short squeeze” and compare Thursdays close to the previous day. If your stock closed above the previous High of the Day chances are institutions are buying your favorite too.
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Happy Trading,
Vinny
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*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
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