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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (9479)	5/6/2008 11:03:06 AM
From: RonMerks	Read Replies (2) \| Respond to of 50308

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

To: jim_p who wrote (9479)	5/6/2008 4:17:46 PM
From: RonMerks	Read Replies (1) \| Respond to of 50308

Fannie Mae up- with THIS news? Fannie Mae has got bad news and worse to share. The government-sponsored mortgage company reported a $2.2 billion quarterly loss for January-March, versus earning $961.0 million during the comparable period in 2007. This is Fannie Mae's (nyse: FNM - news - people ) third consecutive quarterly loss. The company attributed losses to market turbulence and said that it is now expecting credit losses "larger than 2008" to be incurred in 2009. THAT news led to an + 8% pop in the stock today!?!?!?!?!?!?!? And S&P may downgrade Freddie Mac- AP S&P may cut Freddie Mac credit rating on profit concern Tuesday May 6, 3:33 pm ET S&P may cut Freddie Mac credit rating on concern of increased losses, capital needs NEW YORK (AP) -- Standard & Poor's Ratings Services may downgrade Freddie Mac ratings on concerns the government-backed mortgage lender's losses will continue to mount amid a worsening housing crisis. With that looming downgrade- Freddie is up + 7%!?!?!?!? Someone tell me what the #$@% I'm missing? It's as if someone dropped money from helicopters and said- go prop up the financials. Ron