TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said Abercrombie & Fitch (ANF) is out of fashion, but insisted the shopping mall isn't dead. 'If you go back over the Urban Outfitters (URBN) quarter, they talk about how fashion is winning; [Abercrombie's] fashion is losing,' Cramer added. Abercrombie & Fitch reported a quarterly loss on Tuesday.
More from Video
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.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.