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Gold/Mining/Energy : VLO: Valero Energy Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (224)	8/15/2007 9:30:06 PM
From: carranza2	Respond to of 299

The company must be buying back fast and furiously. We are not finished with the downdraft, IMO. This falling market feels like a long-lasting thing. The repercussions of the subprime fiasco and the credit crunch cannot have begun to be felt despite the fact that the ECB and the Fed have combined to inject US $200 billion b/c the bulk of the ARMs and other subprime garbage do not reset until next year. Think about the magnitude of the injections, a fifth of a trillion dolars! An amazing number and we haven't yet started. Wise investors would be well advised to sell into the rallies, gather cash. There will be enormous opportunities in 2008. Opportunities of a lifetime. The Fed's appx. $75bn worth of injection is a good move. If things are going to get much worse, as I expect, its intervention should properly come later.