1. Good earnings report
2. Macy's goes on the offensive in court against MSO and JCP. MSO trial begins Feb 19. JCP trial begins Mar 4
3. Housing market beginning upswing, which wil translate to even more sales for M.
The upper Bollinger band sits at $40.70 and is rising at about 10 cents a day. I expect a test of $42 right around the time 4Q earnings are announced. With strong forward guidance, look for new highs as we begin to aim at Citi's $46 target.