Good Thing Today is Tuesday for Office Depot

Since an all-stock merger between Office Depot and OfficeMax was announced back in 2013, Office Depot's stock has largely fallen into oblivion, with plenty of market players likely unaware that ODP still traded publicly. And even if they did, there was almost assuredly a presumption that Amazon would inevitably run them out of business like many other retail relics from yesteryear housed in the XRT ETF. 

With this in mind, I see articles making the rounds today that capture the essence of several blog posts we wrote here over the years discussing the notion that "Amazon-eats-the-world" is true on some level, but certainly not true on every level. Hence, there would indeed be great opportunities in retail, which seems to be the case now more than ever of the survivors in the sector. 

And Office Depot is now making a case to be one of those resurgent winners in retail. 

On the ODP daily chart, below, note the tight bull flag pattern after its earnings beat last week. This is the first time in a full year that ODP is back above its 200-day moving average (yellow line), and if it continues to hold above it I suspect we could easily see another genuine retail turnaround story with legs.