The Pragmatic Capitalist submits:
Retail stocks are getting destroyed this week as market participants come around to the fact that the U.S. consumer hasn’t fully recovered from the Great Recession. Since its April peak the Retail Holders Index (RTH) has been crushed -15% (click on chart to enlarge). Market pundits are furiously downgrading retail names and talking about “persistent weakness” in the U.S. consumer. That was not the case just two months ago when just about everyone was convinced that the consumer was back and healthy as ever.
