Amid recent market volatility, here are the best buying opportunities in the retail sector, according to a top technical analyst.
Transcript:
BOB LANG: I’m seeing some good buy opportunities in a couple of different areas and segments, and I think this is a difficult one for me, especially when it relates to the consumer. But I think retail is an area where we can find some good value. I think names like the gap, which came in with great earnings a few weeks ago and raised guidance, that’s really kind of rare for retail stocks this particular time of year. I think The Gap GAP is one that you really have to pay attention to some of the bigger names, you know, not so much. I think you can look at Target TGT and Home Depot HD as huge disappointments. But then I’m looking at Walmart WMT which was a little bit disappointing. But this is a company that that consumers are going to come back to over and over and over again, regardless of where the economy is.
If we slow down in the economy, they’re still going to buy their food and merchandise over at Walmart. And likewise, if the economy is strong, they’re still going to shop at Walmart. So this is one of those, I think, recession proof names that you can make some make some good money in. And I also think that, you know, some of the higher end retail names we’ve got to look at with maybe like like an LVMH LVMH, which is a European country company, the high end value europeans are doing some shopping. They’re making money in their stock market. So they’re shopping, they’re doing some buying some leather goods. They’re buying Tiffany’s, which is owned by LVMH. This is another brand that I think is going to be strong going forward.
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