Let me get into what I want to talk about. First of all it's the retail apocalypse which I have been talking about that from my perspective and not just my perspective, I think in reality the retail sector is in worse shape worse shape today than it was in 2008 during and immediately following the financial crisis.
And you know we got a lot of bad news from the retailers this week including J. C. Penney Inc (NYSE:JCP), and Nordstrom, Inc. (NYSE:JWN) horrible sales from these companies and we had other retailers earlier in the week that came out with with bad news as Kohl's Corp (NYSE:KSS) department store.
If you look at some of the stocks like Kohl's Corp (NYSE:KSS), trading at $36.50 - that stock was at $75-80 in the summer of 2015, so it's down 60 percent or so.
Dillard's which is at a 52 week low at just under $47 that was over a $120 more than a 50% decline.
Macy's Inc (NYSE:M) was down another 3 percent today, a new 52 week low. Macy's Inc (NYSE:M) is at 23.60 and Macy's Inc (NYSE:M) was like a $70 stock in the summer of 2015.
These are huge markdowns for these retailers.