Target Tomorrow.

Target continues to meet overhead resistance as it tries to break above $59 mark. It continues to find support at the 200 EDMA and remains there. The sell side volume is scary. This is one time that I am bucking chart patterns and going with the thesis that Target will surprise to the upside. I have a small 26 contract June $60 position. All things indicate that Target will meet the EPS expectation and the real key is whether they continue to see customer weakness at their store or if April was an abberation. The street is ultra conscious of slowing economy and indication that customers are slowing spending will send this stock into a death spiral.