RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:@mtb121225Ebb To be frank, I am sceptical of the entire sector's path to profitability It seems to be a highly competitive space and the black market guys are not going to give up easily which will keep the pressure on pricing. To their credit, XLY did shift to 2.0 which was probably the right move. But they are walking a high tighrope, and need to quickly balance out their cost structure if they hope to come out as a viable player. There's clearly big doubts as to whether management is up to the task. Driving down SG&A and manufacturing costs are going to be key. Demand will determine the sales growth. Not sure how much they can really do to drive that component once they have product on the shelves and the brands are established and known. I do have a small speculative position in XLY, but I'd say the odds of success are slim.