Contrarian bet on retail, page-22

A research note I was given:

"The budget though has certainly given a few sectors a kick, and particularly on the back of a boost to small business. The retailers Harvey Norman, Dick Smith, and JB Hi-FI were amongst the strong performers on Wednesday on the notion that smaller business customers will be steaming in to take advantage of tax deductions for equipment. The top performer was Myer which rallied 10 percent as it got a tailwind form positive sentiment towards the retailers and also as it released a decent sales update. Like-for-like sales were up 1.7 percent in the 13 weeks to April 25. I think retail is a pretty tough game still with cash strapped consumers not likely to ramp up their spending efforts any time soon. That saidMyer must still be on the watch of predators given the potential to eke out efficiencies, while weakness in the AUD may still see a foreign suitor come bargain shopping. The shop floor may be in on Myer."

I cant load the graph but in any case it shows a double bottom.