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I’ve got a couple of real winners (that is to say, losers) in my world today – – DLTR, down about 10%, and BIG. I’ve suggested both as shorts many times, but I wanted to hit on BIG again, because I think it’s going to be a dynamite failure with much lower prices to come.
I’ve been mentioning recently how retail is one of the last remaining sectors to still look genuinely bullish. WalMart, the king of retail, proved this at the opening bell, vaulting nearly 10% higher (which, for a company this big, is as huge as its customers).
I now know something I didn’t know before – – or at least refused to believe. But now I’m a believer. There is no limit to how much crap people will buy in a desperate attempt to fill the void in their souls and desperately pile on credit card debt in a feckless bid for happiness. Keep buying, folks. Consumers will never be satisfied, and they will never stop buying.
I guess there really is no meaningful limit to how much crap people will buy to try to fill that inner void. Just incredible:
