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Online spending is expected to rise a robust 17 percent this year, despite a sluggish economy that has bruised many brick-based retailers, according to an annual survey to be released Tuesday. Retail sales online, excluding travel purchases, are set to grow to $204 billion in 2008 from $174.5 billion last year, fueled by sales of apparel, computers and autos, according to a survey conducted by Internet analysis firm Forrester Research for Shop.org, the online arm of the National Retail Federation trade group.
That said we offer a chart below of the FusionIQ E-commerce group, which has a bearish FusionIQ group technical rank of 36. Clearly the steep downtrend in the chart suggests investors don't believe the rosy projections for E-commerce sales to be accurate. With the exception of PCLN (FusionIQ rank 99) this still looks to be a group to avoid.
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