There's a palpable rotation going on. We haven't liked the Pepsis (PEP) and the Krafts (KFT) and the General Mills (GIS) in this market, but now we hate them because the Federal Reserve is pouring lighter fluid on the fire -- heck, make that gasoline -- meaning that you are fighting a Fed-induced economic explosion. It's amazing. Ben Bernanke so gets it.

There's a palpable rotation going on. We haven't liked the Pepsis (PEP) and the Krafts (KFT) and the General Mills (GIS) in this market, but now we hate them because the Federal Reserve is pouring lighter fluid on the fire -- heck, make that gasoline -- meaning that you are fighting a Fed-induced economic explosion. It's amazing. Ben Bernanke so gets it.

There's a palpable rotation going on. We haven't liked the Pepsis (PEP) and the Krafts (KFT) and the General Mills (GIS) in this market, but now we hate them because the Federal Reserve is pouring lighter fluid on the fire -- heck, make that gasoline -- meaning that you are fighting a Fed-induced economic explosion. It's amazing. Ben Bernanke so gets it.

At the same time, some think that people are trading down, they are buying Ralcorp (RAH) cereal and they aren't even paying up for expensive snacks or cereals.

People are returning to Kohl's (KSS) and Target (TGT) to buy things, and they are fixing up their houses with trips to Sears (SHLD).

People are returning to Kohl's (KSS) and Target (TGT) to buy things, and they are fixing up their houses with trips to Sears (SHLD).

People are returning to Kohl's (KSS) and Target (TGT) to buy things, and they are fixing up their houses with trips to Sears (SHLD).

People are trading down out of branded cereal into Ralcorp, out of the pricier drugs into generics. They are shopping at Family Dollar (FDO), so they don't care about fancy snacks and foods, they know the taste is the same.