If it were a commodity, consumer confidence would clearly be a sell. Having spent nearly a year oscillating around the mid point of the long climb from the 1991 slough of despond to the July 2000 peak of the mania, the index of current conditions has just crashed through to hit an 9 year low. If you could trade it on Chicago, the pit would be a frenzied vortex of selling, as panicked longs fought to liquidate losing positions and sharp-toothed hedge funds sought to exploit weakness by driving the market even lower. But, unfortunately, you can only trade consumer … Continue reading Clear Cutting Ahead