Touché, American Consumer
Talk about being too negative. I have to tell you that I, myself, was one of many people who were too negative about the retail sector as we came out of the holiday season. I say "many" because it looks as though the hedge funds came in short retail. It appears this was partly due to the warm weather, partly because the retail group stood the most to be hurt by the "fiscal cliff" and partly because the terrible tragedy in Newtown, Conn., put an extraordinary damper on selling during a key weekend before Christmas.
But when you see these share jumps after pretty good quarters, you know that's the work of hedge funds. You know they're throwing in the towel on what's amounted to a pretty terrible bet on all but a few of the stocks in the sector....500 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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