Feeling good and positive, in spite of the indices dour and somber look, I upped my retail exposure and bought some BOOT and DECK.
I’m an expert in retail now, an authority on all things to do with spending money inside shopping malls.
Mostly everything is dead, sans retail. It’s possible that I am top ticking here, which is part and parcel of trying to chase momentum. But given the apparent resurgence in the sector, I am willing to gamble there will be some follow thru on this leg higher.
If not, stops will be tight, roughly 5-10% below basis.
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A lot of the early reporters in discretionary retail have sucked.
Also, core retail, after being revised to +8% in May, was FLAT in June – and direction late in the Q should fucking matter!
But you’re right, so far, no one cares.
Obviously it’s all a plot against me and my piss-in-wind retail positions.