With Target's (NYSE: TGT) bold announcement that it does not intend to participate in the traditionally deep discounts that most retailers hawk during the holiday season, there is no shortage of bull and bear reactions to the news.

Rather than try and find meaning where there is none, Austin and Chris react to the news with a long-term investor's perspective, and try to put this announcement in the context of Target's year-long performance.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.