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Politics : Welcome to Slider's Dugout

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To: jim_p who wrote (9479)	5/6/2008 11:03:06 AM
From: RonMerks	Read Replies (2) of 50317

Hey jim, I'm coming around to a more bearish outlook on the economy. At first I just didn't see any slowdown locally. the shopping centers and restaurants were still as busy as usual, but now while I still can't really see that much of a difference in activity, the local news and people are starting to talk about how the economy is slowing. I've been a buyer on HD- Home Depot on dips, along with a few other broad market plays, but was taken aback by HD's last earnings release, where same store sales were down by 20%. That's pretty significant. Now this morning Goldman Sachs is talking about a 'super spike' in oil prices- which would mean $5, even $6 gasoline. Something is fishy with this whole oil price thing. And now with Goldman calling for a super spike- suspicions are confirmed. I'm short oil via the USO with some mad money profits from a quick pop on the chip stocks. Something doesn't jive with rising inventories, slowing demand, and slowing economy. I guess I'll soon find out. Ron

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