Monday, September 11, 2006
Oil Down= Strength in Retail
I suppose from a pure mathematical perspective, people will have more money to spend with lower prices at the pump. But, speaking from experience, I never get motivated to go buy my wife a Coach bag, because the fuckers at Exxon decide to charge me $2.75 a gallon, instead of $3.25.
Right now, the retail index is up 1.85% for the day.
Stocks like BBY, UARM, ZUMZ and BBBY are off to the races.
It doesn't make any sense to me. Sorry.
NOTE: Despite the surge in the SOX today, SIRF and RACK are down. Perhaps the stock God's are shining on me again?
NOTE II: So far, according to the new "Fly Survey," 76% of you are bearish.
Does oil down = tech up make sense? Maybe, if you think money flows out of energy and in to tech. But I would think investors would move to cash first.
I made that comment tongue in cheek.
However, I do agree with people buying an extra soda pop at the Pantry, while saving 5 bucks on their gas.
Hence, PTRY is going thru the roof.
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