Article Excerpt:
Investors sought refuge in consumer staples stocks last year as the broader equity market sank into bear territory, but that group is now in a bubble that’s on the verge of popping, says one veteran chart technician.
“The greatest opportunity to short on Wall Street, according to risk/reward, is consumer staples. This is the beginning of the breakdown in consumer staples, for the long term,” Jeff Bierman, chief market technician at TheoTrade, said in a note this week.
