Today on CNBC’s STOP TRADING, Jim Cramer came out saying today’s sell-off is justifiable, but he’s still very bullish. He’s a buyer of retail stocks on weakness because this was already expected to be bad. He likes all retail but he thinks Wal-Mart (WMT-NYSE) is trading in an anticipatory phase. He thinks it wants to go to $50.00 and the fact that it is barely down on a crummy day is telling you this. JCPenney (JCP-NYSE) and Kohls (KSS-NYSE) he also noted.
You can watch our CNBC appearance video at this link or just read some further opinion on this subject. Wal-Mart really does feel like the company is close to an anticipation event ahead of its board meeting. What that is could be anything. I still think Lee Scott needs to go, but there are numerous things that Wal-Mart can do as a better start.
Jon C. Ogg
May 10, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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