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Consumer ETFs: Retail and Consumer Discretionary Are Whipping the Indexes

Good god, Gary! Are you looking for a pumper job on CNBC? As Mauldin summed up in today's e-letter:

Retailers that did not have food and gas to boost their sales showed considerable weakness. GAP was off 14%, JCPenney down 4%, and Limited Brands down 6%. Even the high-end stores like Saks (-9%) were down, and Nordstrom projects that June will be down 22%. Given the sales tax numbers, I would not be buying the retail stocks on the dips. There is an old saying about trying to catch a falling knife.
Jun 07 13:55 pm |Rating: 0 0 |Link to Comment |View article

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Consumer ETFs: Retail and Consumer Discretionary Are Whipping the Indexes

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