Less than a couple weeks ago I made this post about some choice retail shorts. One of them has worked out especially well, Ross Stores, which is down nearly 8% this morning. As it is approaching a major supporting trendline, I have covered the position.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Some Choice Retail Shorts
I have a deep distaste for consumerism, so it's particularly gratifying for me to make money shorting retail stocks. I offer you three favorites:
Skankety Tank Bank
My fondness for shorting skanky clothier Abercrombie & Fitch is well-broadcast here on Slope. The mouth-pleasure continues.
Consumers All Shopped Out Amidst Rising Prices
Data for Store Sales released today shows that consumers reigned in their spending for the week, "driving the year-on-year to only +1.8% for one of the lowest rates of the recovery."
This was is spite of a rise in Personal Income for the month, while the price of goods (and housing) rose. Perhaps buyers are waiting for "back-to-school" sales before they part with any extra cash…or even paying off debt.
So far today, the credit card stocks are down from yesterday's close, as Visa pulls back from yesterday's all-time high…ones to watch for any further weakness developing.
Lulu Gets Its Well-Shaped Butt Kicked
Well, I guess the universe of self-important, upper-middle class "spiritual" women isn't what it used to be. One of the former mo-mo stocks, Lululemon, is down nearly 10% this morning. I haven't traded this one in a while – – it's not a particularly engaging chart – – but it's nice to see this token of some of the worst aspects of our civilization take a hit. Time to go meditate.
