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  • qofaslave69 qofaslave69 Jun 28, 2006 5:27 PM Flag

    Todays Action

    Great post! I agree with your assesssment of the pin action in the last hour today. The shorts were covering. It was awesone!

    Oil has traded higher 3 days in a row and $70 oils (or more) is here to stay. I have some money in oil stocks and I think tthat is the safest play for this summer.

    The Feds are way behind the curve. They need to lower interest rates and not raise. they have already killed the housing market (their original intent when Greenie started raising) and will not solve the energy problem by raising rates.

    Big Bad Ben wants to prove he is a man and he will screw up this economy! He will be lowering rates this time next year.

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    • "The Feds are way behind the curve."

      Completely disagree. The economy continues to get stronger and we've got an unfunded war in Iraq.
      In 2002 we could afford guns because the butter was melting.
      But now we've got guns and butter and we can't afford both without
      either raising taxes or raising interest rates.

      I am not saying that we are going to have a recession.
      On the contrary. By raising interest rates now,
      the Fed can lower them later on if a recession is on the horizon.

      Ironically, raising short term interest rates keeps long term interest rates in check, which
      prevents the real estate market from imploding.

      Gas is going to $5/gallon. So if you're shopping for a new car, think fuel efficient.

      The new Honda fit should be a winner.
      Consumer Reports wrote about it in their August 2006 issue,
      but everyone should test drive it.

      I personally didn't like some things about it,
      but its cute, affordable, and fuel efficient.

      • 2 Replies to sells_too_soon
      • Something tells me it won't fit 8 people.....and I need that. So 12 mpg SUV it will remain....$5 gas or not.

        Earnings will speak for the short term for Grmn...then the market....

      • I agree that gas is going higher. However, I disagree that the fed is doing the right thing. Will rate hikes lower the cost of gas? NO!

        The economy is slowing down. The need for hiring new people is slowing rapidly. I am not a doom and gloom person. The Bush deficit and weak dollar have more to do with Ben Bernanke rasing rates than the "robust economy."

        The rate hike tomorrow will take effect 9-12 months from now. Currently, the economy is operating at rates around 3 1/2%. When the dummies in Washington figure it all out, the economy will be growing at 1% and they will need to lower rates next year.

        There isn't a great need for the fed to be so aggressive in lowering or raising interest rates. The economy will self-correct without these bozos getting in the way! Most of it is ego!

50.055-0.465(-0.92%)3:01 PMEDT