Department Stores Get a Brief Bounce

Optimism is running amok today on word that a deal may be reached for a short-term debt-ceiling increase. While this is welcome news if true, it is also a temporary fix. Nobody knows if this is more than another kick of the can down the proverbial road. Since the S&P 500 is up 27 points at lunchtime, I'd say the market is confident that a resolution is near.

However, it also means that a solution is now at least partially priced into the market. Perhaps the market will run further if a solution is reached, or we could see a "buy the rumor, sell the fact" reaction to a deal. The surge in optimism is lifting the strong and the weak, and it's the weak that interest me today....332 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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