Lot’s of high growth stock breakdowns continue. The big moves have ALL been to the downside of late.
Starbucks, Tiffany’s, Whole Foods Markets, PF Changs and Cheescake Factory – key consumer “tells” have seen their shares break long-term trends in the last few weeks.
The Transportation index and Homebuilders are kaput. Internet stocks are mangled, save Google and business travellers are going to really start thinking twice about fringe trips if we can’t have our toys!
I still say with conviction that deflation is the big fear and Bernacke knows it, smells it and the pumps will be flowing “Gordo” with greenbacks and loose monetary policy again this fall.
My favorite reads this weekend:
The Chairman gives you the skinny on Whole Foods .
Michael scores again on my favorite subject “Apple” with a tipping point post . Don’t ignore this coming trend as many winners and losers will be created!
On a closing note, I dug up my old high school basketball videos and put this together for you. Man I could sky.