Sold my BEBE longs today with a 4% loss in the midday after a retail sales numbers gave a very grim outlook about consumer spending for the second time. I think fundamentally this business will do better than other as their products are more affordable than most other quality brands. But sentiments have changed over the retail apparel industry so I guess I have to wait for the selling to become exhausted before I consider reentering. Might think about placing some short positions at the close and adding more tomorrow if there’s any significant pullback on the upside.
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