Bargain Hunting
Major discount chains have been on the move despite reports before and after
Christmas that retailers’ busiest season disappointed. Discount stores perform
better in economic downturns as consumers scale-back purchases and look for
bargains.Â
Toys ‘R’ Us
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PowerRating) triggered a continuation setup out of a
Pullback From Highs pattern on higher volume, and is up 1 3/8 at 24 11/16,
contributing to a 65% gain in just one month.Â
Other stocks in this group are part of the rising discount chain tide. B J
S Wholesale Club
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PowerRating) is trading near its recent (seven-month) high and Costco
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PowerRating) recently popped out of a seven-month base.
Also noteworthy for its recent momentum impulse, Target
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PowerRating) is up 73% in a month and is expected to open
36 stores by October 2001, many on the expanded SuperStore model.