ajtj99's Market Pulse

[uncle_chubbie]

Retailers and the consumer takes center stage this week.opex week, more volatility perhaps one more big down day, but I think we bottom this week. 1425 strong support would take a few attempts to break it. I think just about all the bad news is priced in. It was time for some profit taking so they did it.
Subrprime/cash crunch grabbed the headlines and created the selling. Trade deficit was bullish and normally would have made for an up day and this was inspite of extremely high oild during the previous month. I think GDP bears are going to be wrong and GDP gets upgraded in the 4th quarter.Due to the low dollar the rest of the world is gobbling up U.S. products.I also think the U.S. consumer shouldn't be written off for dead, I think the reatilers will be bargains for the XMas season if they do sell them this weeek. WMT will suck, I expect weakness to start there.But they are throwing the baby out with the bathwater on a lot of the financials, retailers, tech semi's. All these sectors seem attractive to me now and I expect a huge move up in the market within a week or two. (JMHO) CHUBBIE