8/11/08

Economics

a disruption in global oil supplies (It is not the price of oil but its availability that will cause severe economic dislocation.).

Krauthammer on the oil (drilling) crisis:

http://www.washingtonpost.com/wp-dyn/content/article/2008/08/07/AR2008080702900.html?sub=AR

Updated data on mortgage foreclosures:

http://mjperry.blogspot.com/2008/08/current-subprime-mortgage-stats.html

The oil angle to the conflict in Georgia:

http://www.powerlineblog.com/archives2/2008/08/021212.php

Politics

Domestic

A look at Obama’s current tax plan:

http://www.american.com/archive/2008/august-08-08/the-folly-of-obama2019s-tax-plan

International War Against Radical Islam

The Market

Technical

Fundamental

Barry Ridholtz on efficient markets:

http://bigpicture.typepad.com/comments/2008/08/is-the-market-s.html

More wisdom:

http://bigpicture.typepad.com/comments/2008/08/lessons-learned.html

Subscriber Alert

The Market’s pin action last week notwithstanding, we are still keeping ‘profit protection’ as a major objective. The stock prices of Bucyrus Int’l (BUCY-$60) and Reliance Steel (RS-$57) continue to suffer with many of the commodity related stocks. Their prices have traded below critical support levels. Accordingly, at the Market open this morning, the Aggressive Growth Portfolio is Selling shares (bringing both holdings to one half size) in both.

http://finance.yahoo.com/q?s=BUCY

http://finance.yahoo.com/q?s=RS

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