I'm really not liking the 60 day chart on gold. I'm discounting the trading on Friday, but if we don't see a strong push past 1375 this week, I'm going to put on hedges again. Goldbug or not, the chart looks extended and I don't like the pattern I see starting to form.
Something is UP the past couple of days that is not yet seen. Not sure what it is, besides the usual Euro problems.
Black Friday not exactly a blockbuster for sales.
news.yahoo.com
I don't know how Kohl's stays in business. I do all my non-Amazon shopping there (coffee, linens, household stuff), and I wait for this crazy sale they have where they give you back 20% of the SALE price in in-store currency. Anyway, I keep a shopping list open that updates when they change prices and yesterday they did a sale that even I could not say no to. Serious slashing on goods, plus another 15% off at checkout, and that 20% back in in-house currency. Seriously, I don't know how they turn a profit, as I think the stores are dead when they are not having a sale (which is why they seem to have some kinda sale 75% of the time?).
Anyway, my point is I wonder about retailers margins this season. With only a .3% increase in sales, but apparently pretty big slashing on pricing, I think we might see some poor earnings. Best Buy has always been a favorite short, so have to keep an eye on that one for a good entry.
GT
TH |
