and saw an article about their expansion of 1000 new stores in asia. I am a BBY long as you all know however I have been nibbling at radio shack shares since it dipped below $7. I had no idea how large the short position was over there it looks like we could be seeing a short covering rally in the making. The sector rotation into consumer electronics should begin after the postive release from BBY next week.
I stopped by BBY today, looking at TV sets. Didn't buy one, but spend a considerable amount of time with the sales rep. She said that TV's were selling. However, I didn't see many customers in the store and most departments were empty.
On my prior visit, one month ago, it also seemed very slow.
Consumer spending should improve with rising employment and slightly improved incomes, but rising gas prices will absorb some of that extra cash.
BBY is still very cheap.
Industrials are rolling over of negative stories concerning a hard landing in China. If Europe is in recession and America is growing an anemic 2.5 percent, how fast can an export driven economy like China's grow?