trader_murf

Middle Class Retail Sales Point to Continued Weakness

Love your article as always. Just a personal and not particularly researched comment about unemployment. The Feds approved a 13 week extension in UIB for anyone whose benefits expired before May 2007 and is currently unemployed. It seems to require state by state approval. The extension was approved here in NYS by Gov. Patterson for the week of July 13th I think it was. I looked at an article about the most recent unemployment stats and Alaska and RI approved the extension for the week of July 19th (?). Anyway the point is I think there is far more unemployment out there that will gradually show up in the numbers. I don't know if these 13 week extensions are considered "new" or "ongoing" claims. A 13 week extension can be a lifesaver but no replacement for employment. In any event none of this looks good for retailers or the economy. Also it is laughable that there are still politicians and pundits debating if there will be a recession.

Big Lots, Wal-Mart and Costco: 3 Musketeers of the Pooring of America

I have been looking at Costco here but it seems to have resistance somewhere between 74.47 and 75. Looks like it could go back to 70 or even 67.85 before going higher. I found the comment about increasing costs of Chinese imports interesting and something to consider. In any event I think it is time for me to get a membership to shop there even if I don't buy the stock. Thanks for the article.