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Turdsday Special

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The Fed said:


"High energy prices were responsible for slowing down the economic expansion in recent weeks."


They also said:


"We see the resumption of the economic expansion going forward"


Either the Fed knows for a fact that energy prices will be coming back down, or they need to find a good Psychoproctologist!

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Anals subscribators know that the Fed reports the level of consumer loans in the banking system on a weekly basis, because Doc reports on it in the Fed Releases updates every Saturday morning. Each week Doc shows you the Fed's pretty chart, and then tells you what it means. The flattening of retail sales comes as NO SURPRISE to Stoolies in the know.  If you want history, read the Wall Street Whorenal. If you want REAL TIME INSIGHTS, if you want to know what's happening deep in the bowels of the financial world before it sees the light of day in the mainstream financial infomercial media, take a subscribatory to the Anals of Stock Proctology!  Download the really big stuff when it will do you some good!  Not when it's too late, and everyone else knows about it.  Don't be taken by surprise! Don't be embarrassed by being the last to know!

You forget to mention your cmap of oil, put out some months ago, showing a target of $53 - at a time when the pun-dits where looking down. ;)

When aren't the pundits looking for lower oil prices and higher stock prices. :grin:

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Well HPQ falls on its sword and 990N can't be found he is probably sleeping with the fishes. On Schlock Box this morning the co-host was Jack Perrugian everybodys Uncle Harvey lookalike with dirty glasses and ketchup stains on his tie. After retail sales when they went to the pit usually occupied by Uncle Harvey they got a guy called Wyse so Uncle Harvey throws his Comrade a softball and says "you manage a lot of money Jim where do you put it??" the guy says well you gotta be Short and then he realizes what he just said and you could hear Uncle Harvey's body hitting the floor. So the guy then says I mean you gotta be long volatility. Well Crew if you are long volatility then you are short the market indicies-so sometimes the truth comes out inadvertantly. Window at the Bell for 30 minutes. Helmets on, Buckle up! ;)

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In my opinion, the Fed and particularyly Mr. Magoo need a major psychoproctological reconstruction. Of course this should be preceeded by a deconstruction, perhaps today.



Your avatar reminds me of Gene Wilder and Marty Feldman in Young Frankenstein:



"Damn your eyes!"



"Too late!"



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Guest yobob1
From CNN ... picture of Najaf (Iraq) this morning --



Weather forecast .........Partially sunny with periods of total destruction.

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Florida, Louisiana car owners want Shell, Texaco to pay for faulty gas damage



Aug 12, 2004 (The Miami Herald - Knight Ridder/Tribune Business News via

COMTEX) -- Some 25,000 Floridians have sought reimbursement for damage to their

automobiles that they claim was caused by faulty fuel sold by Shell and Texaco

gas stations, Shell Oil Products disclosed.


The fuel-quality fiasco that shut down Shell and Texaco stations over the

Memorial Day weekend impacted other companies as well. BP, ConocoPhillips,

Colonial Oil and Valero Energy Corp. were all supplied with the substandard fuel

from a Port Everglades terminal operated by Motiva Enterprises, a refiner

partially owned by Shell, a Shell spokesman said. Those companies, however,

reported few -- if any -- complaints from customers.


Overall, Shell said it has received about 70,000 claims from drivers in Florida

and Louisiana -- up from about 9,000 on June 1. The fallout resulted from

elemental sulfur found in gasoline originating from the Houston-based Motiva's

refinery in Norco, La. The sulfur can corrode the silver electrical contact on

the gas-gauge sensor in some vehicles, causing the fuel gauge to indicate the

tank is full when it's actually less than full or empty.


Shell and Texaco stations initially halted sales of regular and midgrade fuels

after the problem surfaced May 27. But by the next day, all of the pumps were

turned off at 450 Florida stations. Gas sales resumed at all affected stations

by June 2.


Shell Oil Products spokesman Shawn Frederick wouldn't say how much the mishap

has cost. Considering the cost to replace a gas-gauge sensor ranges from about

$150 to more than $1,000 in some high-performance cars, the figure will easily

run into the tens of millions of dollars.




Dumping inferior product on domestic markets because International markets didn't want or could not take delivery? There is more to this!

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Here's my rant for this morning---all the talk about the interest rate hike on tv and in the print talks about the effect on the "consumer", how it will mean higher mortages, borrowing costs, etc. NOWHERE have I read of the benefits to the prudent people who actually have savings and welcome a decent return. You would think the AARP or some group would have been at least bemoaning the negatives of Greenspams agenda all these months. Oh well, I'll take every .25% I can get!!!!

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SunTrust Robinson Humphrey downgrades APOL from BUY to NEUTRAL.


Whee !


(Where were they for the last 20% down?)

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Guest yobob1

A 2.4% gain in motor vehicles and parts demand helped push up overall sales in July. Data last week had showed higher U.S. auto sales for the month as auto makers offered more generous incentives. Without the auto component, retail sales would have gone up only 0.2%. June sales excluding autos fell 0.3%, revised from a previously reported decline of 0.2%.


Of course the rise in retail sales has promted all the auto makers including the Japanese to let loose with the biggest incentives on record. Yeah we always cut prices when things are going well. Now if you remove the "fleet sales", actual retail sales of auto sales fell, but we won't really know until the end of the turd quarter when buried deep inthe reports will be the percentage of fleet sales which has been very high and is probably getting higher, just like the pile of horse manure they keep shoveling out.


P.S. We also have a few very nice bridges for sale

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Temporary Open Market Operations for August 12, 2004

Last updated: August 12, 2004 08:43 AM

Number of operations today: 1


Delivery date: Thursday, August 12, 2004

Maturity date: Thursday, August 26, 2004

Type of operation: 14-day RP

Operation close time: 08:35 AM

Total Money Value of Operation (in $bil.) 6.000


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