#IBD Partner #AD
FinTwit is giddy with retail this morning with lots of breakouts across the board. Here is a quick and handy MarketSmith scan for retail stocks to go through:
Sometimes it really is as easy as it looks and as traders we make it too complicated. Case in point, LULU: it held like a champ on that 20sma while market dumped, and now breaks out. Exactly what you want to see — we should have been all over it (but aren’t) under 100. When market changes from range bound to trend you have to start trusting it more … let’s see if we can get our close above 270 for Friday close.
LULU look at how that 20sma was constantly bought — wow. Gorgeous. We got too cute and thought it would break and didn’t trust it — mistake of course not to have on watch-list. Never stop learning.