Not Quite the Tangiers, But It'll Do

Headed into GameStop earnings on Wednesday evening, quite a few retail and indeed "meme" stocks at-large are stealing the show again this morning amid a quiet tape. Most plays which are related to the retail/re-opening complex and heavily-shorted seem to be in the sweet spot, including names like AMC GOGO MAC. 

Along the lines of Macerich (MAC) is there is another shopping-related REIT, Tanger Factory Outlet Centers (SKT). While SKT is more shopping centers containing outlet stores than fancy shopping malls, it too is heavily-shorted and sporting a compelling daily chart, below, flagging as we speak in an overall uptrend the last several months. 

While GME earnings on Wednesday represents a defined risk event for meme stocks and, perhaps, retail stocks at-large, the time between now and then could easily see some more pain for stubborn, trapped shorts who may not have learned the timeless market lesson that some cycles can last much longer than we ever deemed possible.