Halftime: Retail Rally Sign of Resilience or Short Covering?

Pro traders were looking at strength in retail Wednesday, with the S&P Retail ETF [ XRT 47.98 Considering the ETF is made up of some of our nation?s largest stores, including Sears Holdings [ SHLD 56.55 Brian Sozzi, an analyst at Wall Street Strategies, certainly doesn?t think so. He thinks the gains are nothing more than a short covering rally, and points to big moves higher by Sears and La Z Boy [ LZB 7.6502 ?The S&P retail index it?s having a hard time closing above its 200 day moving average,? he said. ?The pricing environment remains very competitive