with more unemployment - and MASSIVE Under-employment - with Higher DEBT and escalating Foreclosures - (and new Commercial Real Estate problems emerging) - deflation and a lower standard of living coming - how is the american "tapped out" consumer going to drive retail stocks higher - it might happen in the short term due to momentum - but it sure does look like an over bought mess with stock prices way above what their worth in the retail sector - all i saw was "sales and profits are DOWN vs last yr - BUT the magical "we beat (Low balled) estimates - The Wall street hype game for the lemming fund manager masses - the Cramers of the world - just in time to suck some more money in before the hammer is dropped - No thanks - I"ll stay on the sidelines and watch - and when the carnage begins soon - I'll shake my head and be gald i didnt listen to the lemmings
although I agree with what you say - I still have made good money lately by forgetting my fears - and just playing guerilla warfare trading - but always use tight stops - however - there could come a day when a gap down blows right through my stops and I get killed - ive been through that a time or too and its no damn fun!!!!
when the momentum slows and selling begins to dominate for a while - retail could have a BIG correction - one even greater than the Averages - i'm sure it will come as I am of death and higher "obama" taxes -
ps - Sept is generally the worst month for the market - with Oct usually a calamity month - your right - we could be in for it soon!