Our lead trader at SMF is once again telling traders and investors that the retail sector is leading others in widening of credit default swaps today. Mario Marciano had told many people back in 2006 and the start of 2007 that this would be the next show to fall.
"Weak retail sales and worsening economic outlook (is) increasing underlying risk in retail CDs and stocks." says StockMarketFunding.com. SMF also says that credit default swaps on Macy's (M), Jones Apparel (JNY) and Liz Clairborne (LIZ) have jumped nearly 30% and that CDs for retailers were at record levels.
"It now appears that consumption as Marciano told all his students and traders and investors - that the lifeblood of the US economy - is now in recession for the first time since the early 1990s." Marciano also told his traders that once we start with banks that the retail sector will be next to go.
There is more to follow before we hit bottom and the next BULL MARKET will be created as we work through the overall economy. Great deals will come just as Marciano had told people long before the crash. He can also tell you long before the next BULL MARKET WILL COME AND BEAR MARKETS will leave.
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