[M] update

Backlink.

I was a good deal early calling a major top on Macy's back in my first post ever on it in late 2014.  Of course I knew my model was wrong very quickly and so I stepped back and gave it more time to play out.  Today that call is looking pretty good no matter that it was too early because the shares have fallen off a cliff.  Stair steps up, elevator down.

In any case, they loved it at $72 and it was touted many times as the shining star of retail, blah blah blah.  The market has now soured on these shares and they will be very lucky to avoid mania status, closing ultimately below the last low.