Two Ways To Play: Confidence Is Sinking
Strengthen your portfolio in good times and bad.
The Reuters/University of Michigan final index of consumer sentiment fell to 70.3, slightly below economists' expectations of 70.8. It was at 63 in August, but some attribute recent gains to a lowering of gas prices. Still, the number reflects a weak consumer. For all of 2007, the gauge of sentiment averaged 85.6.
For more context on the trading day, See Todd's Random Thoughts: What Happens If We Don't Rally on the Bailout?
From the Bull Pen: We've talked about General Mills (GIS) before. Beautiful how the stock took a dip after registering a 13 TD Demark sell signal. But the stock remains in an uptrend, and those bullish can set sell stops near $66-$67.
From the Bear Cave: A weak consumer likely won't be buying expensive motorcycles. Bears can eye Harley-Davidson (HOG) for a downside play. Behavior near the $40 mark will be key.
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