I would like you to inform the lads at Macy’s, Nordstrom, Apple, Dillard’s, and a sundry of others, that the we’re not fooled by their fraudulent earnings reports. The government retails sales numbers are proof that they’re hiding wanton profits somewhere, perhaps behind a wall or under the floor boards or something. I don’t know.
But what I do know is that retail sales jumped by 1.3% in April, the most in a year or so. Purchases climbed 1.3%–the biggest and bestest gain since March of 2015 (wow, that’s a long time!).
Clearly and without exception, these numbers are factual truths that the economy is, in fact, over-heating. We can only hope for the firemen, Fed’s Mester and others, to come to our rescue at once– and douse the fires of inflation with their interest rate hiking bazookas.
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Sector Breakdown: AMZN up {1 Gazillion}, Brick&Mortar down {Gazillion – 1.3}
AMZN is the next NFLX: great company, well-known brand name, hot with mom&pop investors who don’t read financial statements and priced to perfection (PE = 293).
It’s not going bankrupt, but it’s priced way beyond the growth it will achieve and also left a gap at a strong resistance/supprt line $680 (1-year chart) that gets filled at a bare minimum.
I guess AMZN is the entire retail sector.
The April number is a squiggle on a squiggly chart.
The slow down you want to see is here, but it started in early 2015 and isn’t very dramatic.
We can only hope that the dousing is done with petroleum-based products.
I’ms still overall short the market, but the contrarian hairs are rising on the back of my neck with all the doom and gloom (in the news, not here). I bought some DG.