Last week at this time, we were worried whether we were about to start a thermonuclear war that would wipe out 10 million South Koreans.
This week, we are concerned about civil rights and extremists.
All I can say, if we overlay business, it is a better environment to have strife than to have nuclear holocaust.
Only with this administration would I say I'm not kidding.
In these days when we don't have to worry about intercontinental ballistic missiles, we take our queue from the overseas markets, which are positive.
However, we have to recognize that we are in the grips of the worst retail environment in history, the perfect storm as the normally calm Ed Stack put it on yesterday's chilling Dick's (DKS) call.
Understand that Dick's was more a call about the shutdowns and price competition in sporting goods than in all channels. But then again, Coach (COH) was much more about the price competition in handbags than in all channels.
In other words, there is price competition pretty much in every channel, which makes the channels unsafe for swimming.
So, what happens? The money gravitates where there were few to no surprises to the downside: industrials, tech, fin-techs, insurance, and health care. FANG -- - Action Alerts PLUS holding Facebook (FB) , Trifecta Stocks name Amazon (AMZN) , Netflix (NFLX) and Google parent Alphabet (GOOGL) --works again because retail is viewed as a slowdown of sorts, when it should be viewed as a markdown of sorts.
Either way, oil and retail are not investable. Same as they were before, but more so.