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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (89749)4/5/2001 1:37:11 PM
From: BigBull  Read Replies (1) of 95453
 
Very bad sign for retailers:

biz.yahoo.com

``You're finding that the cautiousness that has characterized consumer spending has deepened and led to severely reduced spending,'' Kurt Barnard, president of Barnard's Retail Trend Report. ``I am very certain that we will see more weak results.''

Consumers, fearing falling stock markets, job cuts and higher energy prices, among other trends, have trimmed spending on all types of purchases, from jewelry to discount clothing.

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When the high end goes you know even the folks with the dough are pulling in their horns. Very bad implications for the rest of the consumer pyramid. I expect the CC numbers to resume their decline very soon.

Get ready for:

PRICES SLASHED signs all over the place.
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