Retail data was good today and the stock market responded with a rally. Unfortunately, retail itself did not. Yes, some superstars such as AZO stayed firm in nosebleed territory. ODP was up big but after a crappy 2010 who cares?
The point is that one sector sparked the rally but it did not participate in it. Seems strange to me.
This week, Government Motors will IPO back to General Motors and my skin tingles with antic.................
........pation (Got that Brad and Janet?)
Coincidence or not - the biggest retail gainers today are the above mentioned AutoZone, Pep Boys and Genuine Parts - auto parts retailers, all. Are they telling us something about GM quality?
I have no idea why used auto dealer KMX is soaring.