The fact that this ETF continues to soar in this kind of depressed economy is nothing short of idiotic. My only guess is there is a lot of short covering going on. Otherwise it seems like a thoroughly stupid investment.
Actually it makes a lot of sense. the savings rate is not much better and people are not paying their mortgage. what are they doing...they are spending their money at the malls etc. the retailers are making record numbers. i bought puts last week. i think all this christmas spending is priced in the xrt.
I am buying puts in NILE (May $50) and TIF (Jan $65). Too far too fast. I could handle price ascension on TIF in particular if I thought they could provide sustained guidance into the 1st or 2nd Q 2011, but there is no way that is going to happen. If PPS is forward looking, all the retail space should fall by Jan 2011. GLTA.