Hmmm... Consumer?
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2015-10-20 09:39 by Karl Denninger
in Flash , 148 references Ignore this thread
Hmmm... Consumer?

Just off the conference call from Verizon -- they are expecting phone unit sales to be down.  In the 4th quarter -- that is, Christmas.

Gee, you think?  $600 devices, financed or not, are now running into the same reality of free cash flow that consumers have exactly as is the case for Harleys?

The worst impact of this squeeze is going to fall on the highest-flying stocks with the highest P/Es.  Yes, it's bad if you own HOG this morning, but it will be far worse if you own one of those parabolic-action stocks -- they're going to get creamed when the rollover comes.