So 2011 is off to a bullish start… The year began with positive manufacturing and construction data, giving the bulls an opportunity to celebrate.
But in Monday’s “risk-on” session, one industry was curiously quiet. Restaurant stocks were relatively soft, despite what should have been positive news for broad consumer spending.
Whenever the broad market moves almost unanimously in one direction, with a hand-full of stocks bucking the trend, it usually pays to dig a bit deeper and determine why these securities aren’t participating with the broad trend.