Monday, December 01, 2008

SOME CORRELATION HERE??!!


*Another new LOW for the BDI.
We should see a PULLBACK today in SPX, and when we get the raw data we will have better picture of whether sellers are exhausted.
One retail tracker said US Black Fri sales were UP 3% yr/yr (prior yr/yr was up 8% as comparison) and some are frolicking about as if that is better than expected and sign consumers have some ZING left?
HEAVY HEAVY discounting took place, and long way to go, and a few LESS shopping days this year to last, won't HEAVY promotions cut into profits?
I am not sure we are OUT OF THE WOODS just yet, as credit markets seem still frozen......looking 6 months out......not great sign IMHO
D

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