Friday, September 23, 2005
I certainly got this one wrong. Contrary to my expectations SHLD has woefully underperformed the market ever since its July high of 163. This is not a good sign and to me it means that when the market averages make new bull market highs Sears Holdings will stay below 163.
Right now I see support at the bottom of the current box at 102, although I have other good reasons to think the market will hold the 107 level and not make it all the way to 102. The next rally will probably carry at best to 140 or so before SHLD heads down again.