Don't Count Out a Hillbilly Thanksgiving, Just Yet

It seems as though the death of Wal-Mart has been greatly exaggerated, with each sell-off by WMT's stock greeted with patronizing I-told-you-so's about how capitalism works, by city slickers. 

But in reality, all WMT has done is come back down hard to its primary multi-year breakout level from 2011. Headed into the end of November, on a monthly closing basis we are looking to see if WMT can hold and close back over $60, in light of its earnings beat this morning. 

It goes without saying that AMZN has certainly eaten away at the likes of WMT and other retailers, including DKS JWN M URBN. But, again, to embrace AMZN-beats-all as a sweeping statement is likely an overreach. 

On a relative basis, it is not hard to see WMT outperforming into any type of sideways or down market, going forward, particular if macroeconomic data continues to underwhelm. 

At any rate, regarding the technicals, a monthly close over $60 now likely stems the tide of recent selling and puts me back on watch for another potential long-term entry--If you have followed my work, then you know back in October 2011 I turned very bullish on the stock from a long-term perspective, which ended earlier this year when the stock went too far, too fast.