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The Discretionary
index looks benign on both a daily and weekly basis:
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Click to Enlarge
According to the
weekly chart you have been spending generously over the last three years but
now you are a little more careful. You
are truly discretionary at the moment.
The Consumer Staples –
food and grog Index - is likewise benign:
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Click to Enlarge
You were living the
life or Riley but now you are objecting to prices and so you are hanging tight
to those hard earned dollars. Mind you
prices are ridiculously high for almost everything but the two dollar shop.
And looking at some
specific stocks:
WOW is doing it really
tough and it could get a whole lot worse:
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Hang on to your money
there could be better days ahead.
WES has had a big run
up and one of the better stories but now seems stuck at these current levels:
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Myer has let you down
and so you only shop there when you really really want to:
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I know some of the
Board and can say no more other than I am not ….. But I feel sad for shareholders. A lousy
story.
DSH we now know is a
basket case – well even casket case:
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Managed to let both shoppers
and shareholders down big time. What a
mess those stores were, though from the outside looked pretty – but when you
drilled down it was not too tough to see that they had no chance of survival.
BBG should have been a
roaring success and was for a while:
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And you would have to
ask yourself if SRF has the same stench?
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Super Cheap is looking
Super Cheap:
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And you are now in
love again with this cheap end of town:
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And lastly for good
measure a quick look at the overall indicator – XAO:
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Maybe steadying for a
time. But you will get bargains ahead:
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Enjoy the ride
Tom Scollon
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