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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (80458)	7/11/2008 9:36:23 AM
From: Kailash	Read Replies (1) of 94695

The worries about the agencies is so basic that I expect a pronouncement right away saying they will be shored up at any cost. Even people who think the government's involvement in the first place was a bad idea are saying now they can't be allowed to fail. This could lower the dollar further, but the silver lining is that the competitive devaluation is delivering benefits: US Trade Deficit Narrowed 1.2% in May to $59.8 Billion Bloomberg - 57 minutes ago By Bob Willis July 11 (Bloomberg) -- The US trade deficit unexpectedly narrowed in May as the cheaper dollar spurred gains in exports that helped make up for imports of more expensive crude oil. So my take on both of these worries -- the imagined attack on Iran, and the failure of Fannie and Freddie -- is that they will be allayed. Israel cannot afford to attack Iran without full US backing. I don't know what people would do here if the administration gave the OK, but the pressure on them to officially back off is clearly mounting. This is getting into territory where I would want to buy, though I can't do intraday on the 403. K

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