Retail Ramp Job
Courtesy of RobotTrader
The more horrific the jobs situation, the higher retail stocks are powerjammed by the Robots. Just another example of how the junior 19-year traders at the biggest desks are being horsewhipped by the FemBots to “buy whatever is going up”. Its all about gang tackling the “biggest % movers” on the Heat Maps.
Exhibit A is True Religion. Here is a sample of some $315 jeans found on their website:
Too expensive?? No worries, there are hundreds of Prop Desk traders at Goldman who are forking out the bills to buy these for their mistresses.
That’s good for about an 18% move today….
And what about the wives of the laid off salarymen? No worries, they haven’t made a house payment in 7 months, so they get to bank their entire unemployment checks. That’s enough to buy anything and everything on sale at Kohl’s:
And don’t forget Nordstrom’s which shook off last week’s 4% after market plunge after a warning. Apparently there remains an acute shortage of makeup, perfume, shoes, and lingerie at the highest price point:
And don’t forget the stock split rumors on AAPL, no doubt an excuse for the mo-mo chasers to start dryhumping that one and chasing out the short sellers:
In addition to the banks, I’ll be keeping an eye on some kind of a massive Euro short squeeze, and some evidence that the dry bulk shippers will be gunning a “China turnaround”
And don’t forget Newmont Mining, ramped up today after earnings, obviously Goldman is now starting to front run an inevitable Euro short squeeze and dollar correction.
I’ll be out most of next week, working in a secluded area with no Internet access for most of the market day, so no regular postings for awhile…..
I’ll in an area close to Chinatown, so I’ll be sampling some of these after hours….
LOL…
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