Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Fed Day/Retail

I'm waiting to hear what the Fed has to say today, watch out for any curve balls from Ben.  The retail sales figures for November where higher than expected at 0.8%.  I feel that December will be flat and the number should dip again after all the January sales are gone. 

The recent down tick in the Jobless claims will also probably prove to be short lived after the effects of the Christmas shopping season subside and retail stores and consumer employers start laying off the temporary staff they've been hiring for the Christmas period.  Their are many big retail stocks at or near 52 week highs, think Amazon, Apple et al. 

These stocks need a healthy pullback and I guess we'll see this early in 2011 as investors book profits before sales figures dip in Jan/Feb.  A five percent or more drop wouldn't be out of the question. With this in mind I'm putting retail on my short sector list for the new year if my expected pullback materialises.