Here is what I see: The retail trade-down phenomenon is drawing to a close. For the past two years, consumers have stretched their dollars, tightened their pocketbooks and looked for bargains. Slowly, we are reversing course. The shift from inferior goods to normal goods is starting to take hold.
In confirmation of the upswing in demand for luxury goods and my above observations, yesterday former Federal Reserve Chairman Alan Greenspan characterized the economic recovery as "extremely unbalanced," with high-income earners benefiting first and foremost from the recovering stock markets and corporate earnings.
-- Written by Scott Rothbort in Millburn, N.J.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV