5 Consumer Stocks to Sell Now

Consumer Stock #2
Pier 1 Imports (PIR)

When a bear market ends, stocks at the bottom of the barrel often see violent bounces to the upside. Most of this is caused
by shorts that pummeled the stock on the way down covering positions and locking in gains. It would be a mistake to see these
moves as anything but inefficient. As such, the volatility can and should be traded for maximum gain.

Pier 1 Imports (PIR) hit the rock bottom price of 10 cents per share in early
March as the market bottomed. Now two months later, PIR trades for more than $2.00 per share. In early May, the stock gained more
than 10% as it regained compliance with the New York Stock Exchange. I can appreciate the enthusiasm for PIR and its turnaround
play, but there is still a lot of risk here.

I would take what the market has given, because the market can easily take it away. I expect PIR to give back these gains as
enthusiasm wanes.

NEXT: Consumer Stock #3: Landry’s Restaurants (LNY)