POSITION: Short Consumer Staples (XLP)
On every duration that matters in my risk management model, this stock market does not look good:
- TAIL (1266), broken
- TREND (1247), broken
- TRADE (1181), broken
And it may be becoming “consensus”…
But consensus can remain right, longer than some can remain solvent.
I do not think this is 2008. I think some refuse to learn the Globally Interconnected lessons of 2008.
This is 2011, and my most immediate-term TRADE line of support is now 1117.
Keith R. McCullough
Chief Executive Officer