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Buzz & Banter


In many of my posts, I have recently mentioned that the consumer is key to the reacceleration (or not) of the economy. Given the lack of pent-up demand and the fact that consumers never actually felt the recession in their pocketbooks (at least according to the fact that personal consumption expenditures never went negative in the latest recession), I continue to find it, well, curious, that consumer discretionary stocks like retailers are seeing profound valuations. As if we are on the cusp of a new consumer spending boom.

One stock I am not involved in but have been watching lately is Target Corp (TGT:NYSE). Check out the log chart of this thing going back to 2000. I haven't seen as good looking an example of a head and shoulders pattern as this in a long time. I'm not involved in the name (yet), but wanted to highlight it. One to keep on the radar screen, as the retailers are the most vulnerable stocks fundamentally to any economic hiccup (higher energy prices, mortgage refi declines, no more tax rebate checks, lack of jobs, etc.).
No positions in stocks mentioned.

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