What the media and economists say and what fund managers are actually doing indicate a different story:

Just starting weekly sector/Fidelity Fund analysis and popping off “Weekly Gain/Loss” list is retailing as worst fund/sector (FSRPX) of the week down 5.58%. Prior to this week this fund had been in top 10 funds for last two weeks. And looking at $RLX, it was down 1.32% on week, one of the weaker sectors.

So if our economy for most part depends on consumer, then this is very telling. This look behind all the “good holiday shopping news” put out by the media says not all is well on Santa Claus Lane.

Managers are selling the sector going into the holidays which tells me that consumers are not buying. And when consumers aren’t buying during the holidays that means the remainder of the year could be in big trouble.

You all know I am no doomer but this statistic makes me very concerned about how much more is left in this rally being how important the consumer is to the economy.

PS - And to make matters worse, the “winter wallop” hitting the northeast could keep shoppers away from the malls on what is usually one of the biggest shopping weekends of the year!!

I would look for SPY very likely to test 50 sma early in the week in spite of week before Christmas generally being a strong week.

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Don’t you love how all of northeast is off the charts crazy with the “Winter Wallop” it is getting hit with.

I talked to friends in Northern Ontario and I bet you and your neighbors are doing the same thing which is emitting a big yawn over this snow drop.

20 inches is about a normal good snowfall. Give me 3 - 4 feet then we got something to talk about!!

Meanwhile we are breaking out the down jackets and long johns down here. Woke up to 62 degrees this morning!! Got down in low 50’s last night! ;-)) A major cold spell for us!

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http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Two_Years_Of_Failure_In_Directing_The_Economy

“Dollar mini rally to end soon, look forward to low interest rates and mega monetization, we dont buy into the claimed recovery, Fed and Wall street cover up their problems, 124 banks failed this year to date, tax break for bailed out Citigroup, Banks manipulating their own books, an economic situation created by design.”

“What has occurred in the US could not have happened by ineptness or chance. It has been done by design. There is no such thing as coincidence.”

- floridabeachboy

Related Posts:

• The sword that will cut the knees off this laughable “recovery”:
• If you want a simple snapshot of what’s going on here, that’s different than before, listen up…
• The FED has said, “no net new jobs for five years.” What does that mean?
• Where is your money going to go?
• January consumer spending will drop.

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