I Like My Nose, Mrs. Mulwray

Amid a mixed, sluggish summer open for stocks are seeing some interesting signs of reversion within the massive retail complex.

Long-time winners like HD LOW are getting hit off paint maker The Sherwin-Williams Co. missed earnings. And we know SHW has been a winner in its own right, actually outpacing Home Depot and Lowe's this spring and summer. 

While those winners are now taking a dive, the perennial laggards in the group are waking up, if only for a midnight snack before they go back to bed. 

Either way, Sears Holding is up roughly 19% on an Amazon deal. With this in mind, it is worth keeping tabs on the other losers in the group, such as JCP JWN, to see if they can see some mid-summer relief. 

Back to the HD LOW SHW three-headed monster. We covered the rest of a LOW short this morning into this weakness. To be sure, the temptation was to press it lower for a home run type of trade. 

But the broad market remains remarkably resilient. And we will take any wins on the short side where we can for now. Because I like my noise. I like breathing through it. And it is nowhere close to time to risk it.