Walmart’s weak weekend sales numbers scared the market today.
As a non-Walmart shopper and Target loyalist, I tend to look at weak Walmart numbers and say “huh, maybe people figured out that shopping online, at Target, anywhere but Walmart is more fun. I could shop at Walmart, but I’d rather hit my head against a wall for a couple of hours.”
I suppose you could argue it was partially profit taking, partially fueled by another dip in the dollar and raise in oil prices. I think the rest of this week may be very telling for where we’re headed in the very short term.
A weak overall holiday season is going to scare the market far more than the decrease in the housing market (justified or not).
