With retail stocks down 11% year to date, you would think some would be out looking to call a bottom, but bearishness remains very high among retail analysts. Morgan Stanley very typical of that mood this morning, was out with a long note on retailers called "Not Too Hot, Not Too Cold, Just Wrong."
Here's a chart from CBS.Marketwatch of the S&P retail sector:
When sectors break through three year support, you know there's trouble out there.
