Black Friday sales usher in strong demand for retail stocks: Oppenheimer's Alon Rosin (via TradingNation)
which is up a percent. So, we've seen a lot of outperformance and positioning positively ahead of this weekend."
Rosin doesn't see a coincidence in the intersection of interest in retail stocks and the Black Friday start of the holiday season. "If you have conversations with consumers at work, at home — everybody has been waiting for Thanksgiving to make their deals: Cyber Monday, this weekend," he said.Rosin, who has been bullish on the overall market, sees Best Buy as one of the market's most promising retail names.
Shares of the electronics giant have surged more than 52% this year. In its best month, the stock is up more than 10%.," said Rosin. "There's a lot of positivity around how they're attracting new consumers on their one-day delivery. But Rosin, who does not hold a position in Best Buy, Amazon or the XRT, recommends shorting the stock right now due to the strong bounce.
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