'Fast Money' Recap: Buying Retail?
All the talk the last couple of weeks has been centered around the retail sector and its underperforming companies. On CNBC's "Fast Money" TV show, Karen Finerman said it's been a tough couple of weeks for bulls but she still likes Foot Locker
She added that she does not like J.C. Penney
Brian Kelly said he doesn't really like the sector but would look to AMZN
Steve Grasso said he continues to like Deckers Outdoor
Paul Hickey said interest rates would be important to watch and could curtail consumer spending. However, he countered this negative point by saying the jobs outlook is positive and gas prices continue to go lower.
Grasso said he wants to avoid J.C. Penney's because any slightly bullish, or not horrible, news could constitute a short squeeze, which could be seen on Tuesday after the company completely whiffed on earnings, yet rallied higher.
International Business Machine
Hickey said he still was not a fan of the stock, despite Warren Buffett initiating a position in the company earlier this year. He cited the company's increased competition and issues surrounding its cloud-computing business segment as reasons the stock could go lower.
Barnes & Noble
Hickey said the S&P 500 has been positive seven of the last 10 years in the second half of August, with the average gain totaling 1.73%. He added that consumer discretionary, tech and energy have been the best-performing sectors.