Business or fishing or both? I am heading first to Tampa on Mon......then Jax....then on Fri I have a meeting in Palm Bay and that weekend I am in Stuart and Jupiter.
I am in Hobe Sound which is right between Stuart and Jupiter. This is a fishing / golf / family week but I will be doing business as well. In this economy only the truly fortunate can escape completely and that ain't me. I'll arrive there Tomorrow night and I leave Saturday, the 14th late afternoon. JIF, does your sister live next to Tiger?
actually, George, she is a stones throw away from the former Burt Reynolds Theatre. She has a condo on the inter coastal which was once owned by Burt.
Good luck to you Dave... I have a friend who has been job-searching for 2 years now...had a promising interview in KY this week. My wife will be in Fla next week visiting the new Grandbaby.
Is there a sector defying the trends? I think I read that Auto Parts Chains are doing well, WalMart is doing well, what about Beer and Whiskey (esp rotgut stuff) stocks? It seems like when times are bad that we might tend to drink more, but also drink cheaper stuff.
The counter cyclicals perform relatively well in these markets - i.e., distilled spirits, tobacco, the sin stocks so to speak. In down economies it historically has been beneficial to trade down so to speak - from luxury to discounters. For example, WalMart is doing well....consumer products are always good bets, for example Proctor and Gamble, Kimberly Clark, Colgate Palmolive, etc but I did use the term "relatively" - that is they will outperform the market as a whole, but as the tide goes out, all boats will hit the beach......the tide is ripping, and the beach is littered. In weak markets traders can fare well by pairing long consumer products and short the index, profiting when the non-cyclicals materially outperform the indes.... Typically health care and the drug companies will be good defensive stocks as well except with Obama in the White House, the prospect of nationalized health care has crushed that industry as well......everything he touches has turned to crap.....it's the anti-midas touch! Re: Citi......if the company is taken over and liquidated, the shareholders will get nuttin'. If as is most likely the case, the government becomes a common shareholder, the existing stockholders will/have seen their ownership interests diluted by an amount proportional to the size of Uncle Sam's ownership..... Jeezus H........it's ugly out there.
Jiffy reads this and thinks, "Who is this Tiger guy?, some local Gigilo living in my sisters neighborhood?".
Corey, I just came on this topic and was going to post much the same thing, you are right on. Not only did they blame everything on Bush from day one, they made it as difficult as possible for him to even get in office. Because of the situation in Florida he had little time to put his team together and the Dims were more interested in making him fail than the American public. Now they want bipartisan support. No way that Obama can avoid much of the blame as to what has happened with the stock market. The market reacts to fundamentals but also to optimism or doubt. It seems there is a lot of doubt about Obama and the market is tumbling. He does not get a free ride where it comes to responsibility.
Not even close....from my perspective what we are seeing is the market expressing a complete lack of confidence. From his foolish populist war on the banking and investment community, to his pork-filled budget and stimulus proposals, from his planned tax increases to his concept of removing the mortgage interest deduction in the midst of the worst housing crisis since the great depression, to his clear intent to implement socialist policies, to and especially about Secretary Geightner's half-a$$ed efforts to bring some stability to the banking system......what we are seeing is the market saying, I don't like what I'm seeing and until proven otherwise, this is amateur hour in Washington and where are the adults when we need them?