There is a secular decline in watchwear and that will continue to weigh on Fossil (FOSL) , said TheStreet's Jim Cramer. He said retail is ephemeral and technology from Apple (AAPL) and Fitbit (FIT) is replacing traditional wristwear.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.