Bye Bye Best Buy – Can the S&P Hold When Retail Folds?

Holiday sales were down 0.9% with revenue down 2.6% to $11.45Bn, partially saved by a 23.5% rise in on-line sales.  We had picked BBY last November at our PSW Las Vegas Live Conference, as one of our top picks but we abandoned ship at $42, waiting for the next sale to buy shares again.  Is this, then, an opportunity to bargain hunt or should we wait for the ship to hit bottom.  There's a conference call at 8 am, so we'll have more information ahead of the bell.  

As you can see from Dave Fry's Dow Chart, 16,500 (on the index, 16,400 in the Futures) has been a tough nut to crack and the REASON the Futures are 100 points below the actual index is BECAUSE sentiment for the FUTURE is lower.  Make sense?  

That's the real sentiment, from people who actually put their own money on the line to predict the future, not the sentiment of paid pumpers who shuttle from interview to interview so they can drill their talking points into the heads of retail investors, driving them into whatever positions the pumpers are paid to promote that day.  The entire financial network is itself just another propoganda machine for their advertisers, who are generally Investment Banksters who make their money churning retail investors in and out of positions.  It's a gigantic SCAM – don't take it seriously…

BE THE HOUSE – Not the Gambler!  That's our theme for 2014 and we are drilling this point home in our series of weekly Webcasts, as well as our live weekend conferences.  If you want to see our first Webcast…