Sears Taking Out Last Week's Lows (SHLD)

Posted in General 
August 24th, 2009

Sears Holdings Corporation (NASDAQ: SHLD) is seeing insult on top of injury after Barron’s panned its strategy as a losing one after its bad earnings.  This was the cover story over the weekend titled “Washed Out”…. Shares are seeing a further wash-out as well.  at 8:55 AM EST we have seen some 50,000 shares trade hands and the stock is down 4% at $63.36.  This actually looks liek a severe alert because the post-earnings intra-day low on Thursday’s news was $63.83.  If these levels hold for long after the market opens, further technical damage to its chart will be the likely scenario. -JON OGG

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