The consumer is under seige. His tapped out his equity via HELOCs and now that fictitious appreciation is gone. The consumer, by many accounts, is 70% of this economy. This all adds up to problems. Eating out is one of the many frivolities I believe said consumer will cut out. I stand to be corrected and would welcome rebuttals but my simple thought process comes to that conclusion.
Darden(chart above) shows a rally that looks to me to be losing steam. Please note the green lines. This is fibonacci numbers. The box as I like, is the 50-62% retracement of the prior move. We are butting up against the upper end of this box.
I am getting short 1 unit of Darden ticker DRI at $34.95 with a stop at $37.18
Good Speculating to you all.
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 2 units US Gasoline Fund ticker UGA @ $51.25 stop at $51.74
Long 2 units Ultrashort Dow ticker DXD @ $53.75 stop at $51.84
Long 1 unit Ultrashort Russell ticker TWM @ $74.80 stop at $73.74
Long 1 unit Ultrashort Nasdaq ticker QID @ $44.65 stop at $43.84
Long 1 unit Ultrashort Financials ticker SKF $102.20 stop at $104.16
Long 1 unit Ultrashort Real Estate ticker SRS $86.40 stop at $84.84
Short 2 units Daimler AG ticker DAI @ $86.20 stops at $84.20/$82.20
Short 1 unit Lehman ticker LEH @ $41.20 stop at $46.59
Short 1 unit Darden ticker DRI @ $35.05 stop at $37.18