Date updated:02-28-2008
This has to be one of the most counterintuitive days on record, which is why, again, I insist that we are simply in a moment where there have to be a lot of markups.

-
WMT
Wal Mart Stores - $51.38
- -7.49%
- $51.31
Earlier today, I postulated that the "U" camp is going to assert itself here when it comes to the recovery. That's when they move up in Wal-Mart (WMT) and Costco (COST) and Sears (SHLD) and TJX (TJX) and Nordstrom (JWN) and so many others. I believe there were lots of shorts in all of these names, all conceptual, because these shorts all recognized that these stocks have had a big run and there's no way they could continue with bad numbers. That was wrong.

-
COST
Costco Wholesale - $50.65
- +1.06%
- $49.75
Earlier today, I postulated that the "U" camp is going to assert itself here when it comes to the recovery. That's when they move up in Wal-Mart (WMT) and Costco (COST) and Sears (SHLD) and TJX (TJX) and Nordstrom (JWN) and so many others. I believe there were lots of shorts in all of these names, all conceptual, because these shorts all recognized that these stocks have had a big run and there's no way they could continue with bad numbers. That was wrong.

-
SHLD
Sears Holdings Co - $49.98
- +23.26%
- $45.00
Earlier today, I postulated that the "U" camp is going to assert itself here when it comes to the recovery. That's when they move up in Wal-Mart (WMT) and Costco (COST) and Sears (SHLD) and TJX (TJX) and Nordstrom (JWN) and so many others. I believe there were lots of shorts in all of these names, all conceptual, because these shorts all recognized that these stocks have had a big run and there's no way they could continue with bad numbers. That was wrong.

-
TJX
T J X Cos Inc - $21.49
- -1.01%
- $21.48
Earlier today, I postulated that the "U" camp is going to assert itself here when it comes to the recovery. That's when they move up in Wal-Mart (WMT) and Costco (COST) and Sears (SHLD) and TJX (TJX) and Nordstrom (JWN) and so many others. I believe there were lots of shorts in all of these names, all conceptual, because these shorts all recognized that these stocks have had a big run and there's no way they could continue with bad numbers. That was wrong.

-
JWN
Nordstrom Inc - $14.53
- -2.35%
- $14.17
Earlier today, I postulated that the "U" camp is going to assert itself here when it comes to the recovery. That's when they move up in Wal-Mart (WMT) and Costco (COST) and Sears (SHLD) and TJX (TJX) and Nordstrom (JWN) and so many others. I believe there were lots of shorts in all of these names, all conceptual, because these shorts all recognized that these stocks have had a big run and there's no way they could continue with bad numbers. That was wrong.

-
EMC
E M C Cp - $11.89
- +6.35%
- $11.74
The most amazing rally is in tech, where old tech -- EMC (EMC) and IBM (IBM) and Hewlett-Packard (HPQ) and Texas Instruments (TXN) -- has trumped Google (GOOG), Amazon (AMZN) and Apple (AAPL). That may not even be markups: we are getting good stuff out of the Goldman Sachs conference on old tech, and it is driving things, and the markups are right behind them.

-
IBM
Intl Business Mac - $87.18
- -0.69%
- $87.81
The most amazing rally is in tech, where old tech -- EMC (EMC) and IBM (IBM) and Hewlett-Packard (HPQ) and Texas Instruments (TXN) -- has trumped Google (GOOG), Amazon (AMZN) and Apple (AAPL). That may not even be markups: we are getting good stuff out of the Goldman Sachs conference on old tech, and it is driving things, and the markups are right behind them.

-
HPQ
Hewlett Packard C - $37.64
- -0.53%
- $37.70
The most amazing rally is in tech, where old tech -- EMC (EMC) and IBM (IBM) and Hewlett-Packard (HPQ) and Texas Instruments (TXN) -- has trumped Google (GOOG), Amazon (AMZN) and Apple (AAPL). That may not even be markups: we are getting good stuff out of the Goldman Sachs conference on old tech, and it is driving things, and the markups are right behind them.
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