MAY Retail Sales THU @ 8:30 ESTThe last retail sales release was MAY 13 for the month of APR.
They were shooting for a nice, quiet, flat boring old 0.0% over the revised down MAR $338,930 million.
Instead we got a -0.4 shrink to $337,677 million, ex-auto.
Market tanked.
THU we're shooting for a magnificent 0.4% growth over that $337,677 million = $339,027, ex-auto.
This $1.35 million jump seems a wee ambitious considering the history of APR to MAY Retail Sales changes.
I think between the increasing unemployment and the contraction of credit that US consumers will still be clutching onto their increasingly threatened paychecks.
I'll be ditching all long positions WED & initiating short positions via FAZ, TZA & EDZ.
I'll wait until release to before increasing the position or closing it.
Note the MAY 13 drop went nowhere until the 18th when GS said to buy BAC, that went on for a few days before Moody's (I think it was) suggested EU bonds could be downgraded which in turn incited rumors of US debt being downgraded.
I forget what was so magical on & since MAY 26 that erased all of that.
