Wal-Mart Stores unsettled the retail industry Thursday, reporting a sales decline for the first time in 10 years and warning that its holiday sales would be disappointing. The discounter's news, coupled with a jump in unemployment benefit claims, raised concerns about the strength of the retailing sector at a critical time of the year.
The industry is a little worried about the sales, but doesn't feel it will extend to the rest of the retailers. My thought, however, is that the market over reacted today. Wal-Mart did the same thing last month, then turned around and had a great next month. It is a great time to look into the stock, when people start dumping it. There are too many people in the market that aren't doing their own research and that is why they freak out when disappointing news comes out. I am ok with that; however, because people like me that do their homework will be able to make profits off of other fear and greed.