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Amid Sharp Gains, Pro Traders Reveal Strategies for Retail
13 Mar 2012 EDT - CNBC.com
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On Tuesday the Fast Money pro traders were taking another look at retailers, after retail sales rose more than forecast last month.

In fact, retail sales recorded their largest gain in five months in February – a data point that’s particularly noteworthy because it happened amid rising gasoline prices.

The strength drove both the retail sector higher as well as the entire the S&P 500 which hit multi-year highs.“A strong retail sector gives the Street more confidence,” explains pro trader Stephen Weiss.“We’re long,” adds trader Simon Baker. But considering the sharp gains, should you play the space broadly?Baker doesn’t think so. Instead he’s only bullish on retailers that have pricing power – names such as Tiffany , which is crossing above its 200-day moving average, a bullish technical sign. "Diamonds don't go on sale," he says.Baker also likes Michael Kors, GNC and Lululemon . “Anything with a cult following,” he says.Weiss agrees but adds retailers that are effectively managing operations are also worth a look. He likes Macy’s for just this reason. “But I’d be short Sears and Penney based on valuation,” he adds.

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