Retail Weak After Monster Gains

Many retail stocks are beginning to show signs of a pull back after some of the biggest up moves in recent history. J.C. Penney Company, Inc. JCP is trading at $32.60, -1.27 (-3.75%). The stock over the last two months had a move that will live in the history books. On August 31st, 2010, JCP was trading at $19.42. In the last week, it made a high of $34.50, a move of 77.65%. Other retail stocks have performed almost as well. Polo Ralph Lauren Corporation RL moved from $74.50 to $95.66 and American Eagle Outfitters AEO jumped from $11.98 to $17.46. These stocks are broadly weaker today and look like profit taking may be starting. Gareth Soloway Chief Market Strategist InTheMoneyStocks.com