4 Sectors to 'Buy in May'

No doubt, this past week was a tough week for the market. One of my favorite indicators, though not widely known, turned negative, as Investors Business Daily changed its market outlook from "confirmed rally" to "market correction". They don't always get it right, but I don't take it lightly that the recent number of high-volume sell-offs (primarily outside of the NASDAQ) has triggered this concern. As someone who recently declared that the bear market is over, I am, of course, somewhat concerned that perhaps my judgment is incorrect. For now, though, I stand by my call.

For those who didn't read that article, I went from being a "tactical bull/strategic bear" to a "strategic non-bear" - I wasn't covering a bad position. Rather, I decided to ditch my previous strategy of being prepared to short the market again and to remain long, though I expected some resistance about where we encountered it. Specifically, I don't expect a new low or even a test of the old lows, but I am not ready to declare it a bull market either.

Count me in the modestly positive camp, as I expect that the market will surge higher shortly but then trade in a range for a while. While I know that the adage "sell in May and go away" is not only popular but also often correct, I'll point out that it isn't infallible. Driving my "not bearish" views are several observations that suggest to me that too many people want the market to go down - more below. In the last 5 years, selling in May hasn't been especially productive unless you acted fast to cover when right and didn't panic when wrong:

• 2003: You were toast if you sold on any day in May, and you NEVER got a chance to buy at a lower price
• 2004: You were brilliant by August (if you didn't cover in June) but not by the end of the summer
• 2005: Ouch!
• 2006: If you sold at the beginning of May, you had a good chance to make money, but not if at the end of May
• 2007: You would have been happy in August - some pain by July, little gain by October

In all fairness, though, May was a great sale in both 2001 and 2002, the last time we were in a bear market. Of course, valuations were much higher on a PE basis, and the market had experienced extremely large rallies from very oversold conditions at the beginning of 2001 when the NASDAQ plunged and post-9/11.

While I won't specifically make a prediction about how decisively Obama will prevail (I don't support him, Clinton or McCain, so please don't turn this into a political thread), I will point out that the markets historically do better under Democrats controlling the White House. While there is historical data to quantify it more precisely, it is fairly obvious. Bush has had two bear markets (though Clinton handed him one in my opinion), before that it was Papa Bush, before that Reagan, and before that Nixon. Of course, the market soared during the terms of Clinton, Johnson and Kennedy. Even under Carter, while it muddled along for most of the term, it ended up much higher than where it started.

While this simple view doesn't incorporate control of Congress and many other factors, the point is that fearing a Democrat may not be the best move from an investor's perspective. As I look out this year, I see a number of factors that could lead to a rally that picks up as the election nears and Bush's departure becomes more imminent. Often change is feared, but I think that this time it is probably welcome by many. Just like 1980.

Why the Bears Doubt the Rally

My readings and conversations point to three major reasons to find fault with this rally (besides the "fact" that we are headed for financial and economic ruin). First, breadth hadn't been very good - until recently. Specifically, the narrow leadership, which is a different point, contributed somewhat - the market rally was being driven by the performance of just a few stocks. In the past several weeks though, the advance/decline line has improved a lot, and the R2000 stocks have outperformed the S&P 500 (after a 2 year lag that bottomed officially in January but flat-lined until this month).

The second point is one that I don't take lightly: Concentrated leadership by industry. Sure, the market can rally on the basis of one sector being the driver, but it is implausible for that sector to be Energy in my opinion. While the vast majority of market leaders of late have certainly continued to come from the Energy sector, there have been several companies from a broad array of sectors that have begun to significantly outperform the market. A few that come to mind: IBM (IBM), a business services company masking as a technology company, Walmart (WMT), the store for the masses, Disney (DIS) and many smaller Industrial companies.

Finally, many purport that the rally has had low volume. This doesn't bother me at all, as I look at increasing short-interest levels and very high levels of cash and realize that the reason the volume is low is that shorts aren't yet covering and longs aren't emptying their wallets. After all, though, we have had tremendous volume at several points over the last year, especially early this year. While I will not chase the market if we break through 1455 on low volume, so far there hasn't been much of a reason to have high volume.

What Could Go Right

We read everyday about what's wrong - deleveraging financial institutions, plunging home prices and turnover, soaring energy costs, rising agricultural commodity prices, the evaporating dollar. Many expect some or all of these to get worse, which they certainly may do. As a student of history, economics and psychology, I see it differently. First, I know that historically the market tends to climb a "wall of worry". Conversely, when everything is great, like at the turn of the century for U.S. stocks, or more recently perhaps for the stocks in booming China (and perhaps the parabolic Energy stocks now), things don't always work out for investors.

Economically, I know that the markets look forward and that as investors, we have to know what is priced in. Finally, the contrarian in me knows that when the front page is filled with the headlines and when most professionals I talk to are neutral at best (with lots of cash), it is most likely a good time to be a contrarian. So, let's briefly hit a few of these areas, keeping in mind that these aren't my predictions, but rather suggestions of what could go right.

Financials

The problems are widely known, it's just we don't know the depth and duration. The recent write-downs could end up being too great. It is possible that the mark-to-model pendulum has swung the other way, as many pricing proxies have fallen perhaps too much. Let's face it. We don't know what the ultimate default levels will be. Additionally, the capital raising has taken a toll on prices due to dilution - perhaps that is behind us now (certainly dependent upon the first point!).

Energy Prices

What goes up and up will obviously keep going up - call it the Energizer Bunny rule. Except, we know it's not true. At the beginning of the year, few expected oil to rise above $100. Now, few expect it to fall below $100. I confess to shorting energy stocks for the first time ever this past week - I bought the double-inverse ETF, UltraShort Oil & Gas ProShares (DUG), at 26 and then 25.6, but I sold out that same day. On this point, I will actually make a prediction: Energy stocks will endure a big correction, taking out the most recent lows. After that, who knows? I expect that their leadership has ended for the balance of the year.

Yes, I understand the very positive fundamentals, but I am almost certain we just had a blow-off top. The number of Seeking Alpha articles (almost all bullish), the pictures in the newspapers of the "trees", the incredible volume on the previously mentioned DUG (similar to the volume peak on Ultra Financials ProShares (UYG) at the bottom) and the sentiment in general all lead me to this conclusion. Just stopping going up would be great, but falling prices could be fantastic for the rest of the market. The first action is for the market to fall as speculative investors dump energy stocks, but the secondary action is positive as they reinvest later.

Agricultural Commodities

Rice shortages, surging corn due to bad ethanol politics, hungry foreigners, get that fertilizer while you can. I don't have a firm conviction here, but after quadrupling, wheat has plunged. Soybeans have consolidated. Cattle prices have leveled. I think that one of the big problems is that these increases, which have been at play now for about 2 years, are finally impacting prices at the consumer level and thus drawing a lot of attention and angst. I say, avoid cornflakes by substituting Wheaties, and you'll be fine. The point here too is that leveling will be good, and a decline, though probably not so likely, will be fantastic.

Housing

I know that there is a ton of debate. I live in Houston, where things are fine, as I imagine they are for most markets out there. The ones that had the huge run-ups are the ones that remain at risk (CA and FL primarily, though many others as well like Las Vegas and Phoenix). In the long-run, affordability is what drives the price of housing. Rates are low and should stay low, even if Treasuries rise as I expect. Income growth isn't great, but wages continue to increase in what remains a fairly tight labor market. Part of the problem with housing (besides the greater fool theory ending) is that credit standards have tightened and availability has shrunken. Take a look at the volumes out of the GSEs last week, though, and I think that you might agree with me that capital is available for mortgages underwritten at "normal" standards.

I wouldn't touch a homebuilder stock, but I do expect that the news a year from now will be fair to good in general. As someone who saw this coming and kept expecting it to get worse, I find myself much more optimistic now. I even just purchased a new house.

The Dollar

I expect that the dollar's depreciation has ended, along with our rate cuts. Further, I expect that while short-rates may stay low for a while, our longer-term risk-free rates will rise (though credit spread narrowing will help other types of bonds to some degree). In this environment of a stable stock market, better long-term bond rates in a few months and a more balanced view regarding our financial system and economic outlook, the dollar could appreciate a lot. I predict that it will at least appreciate a little.

Where to Invest

I think that this environment will be great for smaller-cap names. Better liquidity, less interest in names with huge international exposure and continuing favorable relative long-term growth prospects lead me to want to focus there. I would continue to be extremely cautious on companies that have to access the capital markets - it is too early to buy companies in balance-sheet distress in my opinion. Here are 4 sector themes that I favor:

1. Small-Cap Aerospace: I wrote about this theme earlier this month and have committed my own capital further, adding Ladish (LDSH) to my recent purchases of Titanium Metals (TIE) and Carpenter Technology (CRS). The basic argument is that the secular theme is intact, but the delays, as well as certain other factors like high energy costs, have just killed these players down in the supply chain. Increased energy efficiency, safety issues and age of the fleets all suggest that we will see years and years of newbuild.
2. Financials: I have shared my views on several financial companies in the small-cap space and my affinity for both Fannie Mae (FNM) as well as the SPDR Financial ETF (XLF). I have to admit to being a little concerned with the weakness of the latter and may have to give further thought to my investment strategies if we see much more of a decline. Among smaller companies, I have written about several, a couple of which have done very well and don't have as much appeal as when I wrote about them (Biomed Realty (BMR) and Cullen/Frost (CFR)). One that does is EZCORP (EZPW), the pawn shop operator and payday lender. I have recently added two other names, Federated Investors (FII) and Americredit (ACF). FII is one of the cheaper names in the cheap asset management group. It's on the smaller side compared to most in the industry. With no credit issues, I like the group. FII does have a large money-market area which seems like it could be somewhat of a drag, but recovering markets could be the catalyst to get this one and its industry out of what I view as unsustainably low valuations. Truthfully, it isn't an area I know very well. I paid 11 for ACF when it gapped up recently and sold it in the high 14s not too much later. I would be a liar if I claimed to have a lot of insight into this sub-prime auto lender, but I would note insider buying, a huge investment from Leucadia (LUK) - which knows that industry well, high market share and tremendous relative metrics in an industry where I expect to see a lot of exits by smaller players, and some recent signs that they won't get cut off from securitization. This one is extremely risky! My target, though, is 17-19 now - this time it gets through 15.
3. Industrials with Low but Increasing International Sales: These tend to be smaller companies that are early in the curve in becoming more international, with the potential to ramp it up significantly. I would throw out two that I own, but there are many, many more of these. Mine are Middleby (MIDD), which is a leader in commercial equipment for restaurants, prisons and schools, and Astec Industries (ASTE), which is primarily an asphalt equipment company. I wrote about MIDD in July, and it has declined, but slightly less than the R2000. The company has continued to build out its offerings internationally and is doing well, but the domestic headwinds recently led their CEO, who I believe is one of the best ones that I have encountered over the years, to reset expectations for 2008, creating a buy opportunity for me (and for you).
4. Consumer Names, Especially Home-Related: I wrote recently about high-quality retailers beaten down to very attractive levels and a bit earlier about some big-box retailers leveraged to the home. The basic theme here is that margins are depressed as sales have plunged, and we get a chance to buy high quality names on sale. Watch for excessive inventory, but I expect small-cap retailers as well as the names I mentioned in the home-related retailer article to do well the rest of this year. I ended up adding Timberland (TBL) subsequent to the article I recently wrote that included the name.

Every time I have written a bullish article this year, the market has responded by immediately declining sharply. First, I wrote right before MLK Day. Then, right before Bear (BSC) blew up. Finally, the article I mentioned at the beginning of this one encountered a HUGE sell-off the very next morning - look at the comments on Seeking Alpha. I should probably have bought a bunch of puts late Friday! As I stated in that article earlier this month, I think that we could drop on the S&P 500 as low as 1340 (it already broke the top-end of my suggested range of 1380). Below that, I check my thesis. We have month-end this week, and not too much more. Will we get our 2nd straight monthly improvement in the market? The S&P 500 is slightly negative, but the Russell 2000 is up 1% with just four trading sessions to go.

Looking out, I expect us to test slightly higher levels than the recent peak of 1425 on the S&P 500, with another pause as we move close to 1455. A break of 1455 would be technically significant in my opinion, and a move through the year-end close of 1468 could lead to a stampede. That may not occur at all - we could just muddle along at slightly higher levels until much later this year as the market digests the Q2 and Q3 earnings reports and then the election (or I could just be plain wrong about the bear market being over).

Disclosure: As always, feel free to view all of my holdings, but specifically I am long the following stocks mentioned here: ACF, ASTE, BMR, CFR, CRS, EZPW, FII, FNM, LDSH, MIDD, TBL and TIE.

Comments

[User 143167:]

So you basically believe Financials will write up its losses, oil and commodity prices will go even higher, dollar will be on reverse course, the globl economies will do just great in years to come, house prices will rebound soon. Man, you are NOT contrarian, but a PERMA-BULL. What else can go wrong on your list?
But, just wait a minute, if what you are predicting are ALL true, what number of inflation will it be in the US and around the world? Will it be a 1974 again? Do you believe the Fed can keep FFR as low as 2% in your scenario?

2008 May 26 10:46 AM

[Brian Pursley:]

"please don't turn this into a political thread, I will point out that the markets historically do better under Democrats controlling the White House"

LOL

Everyone knows that every index turns into an instant bull market when totalitarians are in control.

Democrats will be so good for the economy considering they've said they want to ban drilling and tax energy companies into oblivion so that the price of oil goes to infinity and increase taxes on drug companies so that they cut back on r&d and people suffer in pain and die.

2008 May 26 11:31 AM

[zb:]

Brian:
"Everyone knows that every index turns into an instant bull market when totalitarians are in control."

Please provide support for this statement.

2008 May 26 11:38 AM

[zb:]

So Brian, you're saying that Democrats are totalitarians and therefore there will be a bull market. Then, in the next paragraph, you say the Democrats will crash the economy because of their tax, energy and healthcare policies.

You don't make any sense.

2008 May 26 12:15 PM

[bearfund:]

Well, there are two things I agree with you on: that Treasury prices are going to fall, and that oil's action looks toppy. I figure on a pullback and consolidation phase near $120 there, and I've been reducing my position in STO on that assumption. Whether prices stay there or decline to $100 or just take a breather on the way to $200 and beyond depends on politics and monetary policy, neither of which can be predicted.

But the fact that I don't want to overweight oil right now doesn't mean I want to go buy financials and retailers with my gains! The mere fact that energy and oil in particular looks expensive at the moment doesn't mean we all have to go put our money in some other equity sector. Maybe no equity sectors are attractive right now. Certainly there are some stocks I'd like to own (DSX, USB, BNI, SBS), but I base my picking more on the company than the sector, and anyway most are priced too high right now. Hopefully we'll see a big selloff so I can buy them on the cheap from traders facing margin calls. Meanwhile, instead of overpaying for them, I'll look to add to PST and TBT positions at cheap prices if yields decline (Treasury fundamentals are horrible; shorting rallies is probably the safest bet there is). Most base metals are well off their highs as are agriculturals after a steep drop and a long consolidation; those asset classes deserve a look.

Otherwise I'm staying in cash (gold and silver, not dollars) until valuations return to earth or interest rates become positive. This is a market that will reward patience. Every time I read a letter pumping financials, homebuilders, or retailers I ask myself whether anything has changed since I became bearish on these stocks. The answer, in fact, is yes: they've all fallen. But they haven't, by and large, fallen nearly far enough, especially relative to earnings. Yes, a few banks will have big write-backs and anyone holding them will score big. But there's really no way to know which banks those are or when the write-backs will occur, and in the meantime you're sitting there taking dilution, eating write-downs, and watching your dividends get cut. When the huge 100% overnight payoff comes, you may find that it only brings you back to zero.

You noted low volume and poor breadth. To me that says the bears aren't biting. The perma-bulls have to capitulate to put in a bottom, and they haven't yet. The Fed has given them huge piles of cash but they're the only buyers. Meanwhile the bears have the facts on their side: the Fed's lost its mind, the Treasury is looking at a $600b deficit this year on top of $9.4T in existing debt without even a glimmer of prudence in sight, earnings have been historically high in the past several quarters, valuations in P/E terms are either historically typical or high depending on your methodology, and above all else, tens of millions of Americans are deeply underwater - on their homes, on their (now very expensive to operate) cars, on their credit cards. The only reason to buy a stock right now is that you believe the company can make all its money in Brazil, China, and emerging markets. For a few, that will be true - ASTE might be interesting for that reason. But the macro picture is bleak indeed. We could see fundamental improvements in some sectors, but I don't believe we have yet. And I won't be a strategic bull until I see perma-bulls dumping bank stocks and buying gold. Had BSC been allowed to fail, we'd have had ourselves a real bottom; that very scenario would have been played out. Instead we limp along with negative interest rates and deep uncertainty, waiting for a miracle to occur or the next shoe to drop. You want to bet on the miracle, be my guest.

2008 May 26 12:26 PM

[Brian Pursley:]

According to Democrat Party totalitarians like George Soros, it was Ronald Reagan and the "market fundamentalists" that created the "Super Bubble" i.e. bull market.

2008 May 26 12:50 PM

[Elliott:]

re stock market has done better under Democrats: the columnist is correct, while commenter Pursley is wrong. It's not a political question, it's a matter of demonstrated historical fact. The usefulness of this historical fact as a market predictor is, however, open to debate.

Personally I think McCain is good for the market short-term but bad long-term. Primarily because he will do nothing except continue the status quo (low taxes, high deficits, weak dollar, no meaningful energy policy, and fight the war in Iraq forever).

Obama will be bad for the market short-term but good for the long-term. Primarily because he will ask us to take some bitter medicine, mostly higher taxes. But in the long run he and the Dems will do much more to get alternative energy going, strengthening the dollar by shrinking the deficit, getting Iraq off our backs, improving homeland security by actually having the military home protecting the homeland.

2008 May 26 01:49 PM

[zb:]

Brian - "Everyone knows that every index turns into an instant bull market when totalitarians are in control."

Obviously, I did not initially catch your sarcasm there.

I respect your political opinions but gotta say that the stat about the stock market under Dems seems to be true.

Nevertheless, I wish you make a ton of money!

2008 May 26 01:56 PM

[jimmy46:]

Anyone who uses hindsight to say you should buy in certain months and sell in others is an idiot.
Here's my surefire rule:

Buy any stock whose name starts with goog, microsof, wal mar, masterca and you'll make a fortune.

2008 May 26 02:29 PM

[Alan Brochs...:]

Some great comments - thanks. Bearfund, you make a lot of excellent points. I know that not everyone is familiar with my views, but I am not a permabull and not even a strategic bull right now. I just think that the market is going to screw with everyone, as it usually does. I was known as "Armageddon Alan" to my clients earlier this year, but I now have a more balanced view that on the economy is muddle along and on the market is drift higher. I refused to be bullish until I observed that the Federal Reserve and the Federal Government began to address the issues to some degree with anything but "rate cuts". I think that there are a lot of companies that can do well, even while others will clearly face a lot of obstacles in a world of diminishing credit and perhaps an increasing propensity to save. As long as the 10yr Treasury remains below 4.5%, I think that stocks are attractive enough in aggregate to own the right ones.

2008 May 26 03:06 PM

[stkmaven:]

I hold TIE and LDSH for the same reason that you do. Also for the same reason SPR, FARO and I added to HURC on Fri. Instead of TBL I like SKX as growing brand and CROX as an over sold one that IMO is going to mimic DECK who confounded the naysayers by demonstrating that UGGS were not a fad.

2008 May 26 03:59 PM

[Alan Brochs...:]

I don't know HURC or FARO, but FARO looks good both technically and valuation-wise. HURC seems to have a ton of inventory - haven't looked to see if there is a good reason. I like SKX too. I have some exposure through another holding of mine, SCVL, which trades below book value. Thanks for your comment!

2008 May 26 04:58 PM

[GuyFolkes:]

Please buy mid tier silver and gold producing mine companies. Exploration is too risky with the diesel price situation. I also like mining services companies. Two examples of winners I think are TLR on the Amex and GORO on the OTC Bulletin. My honest, blunt, but compassionate opinion is that you would have to be a horse's ass to buy ANYTHING in the retail and finanical sector. Just as I would give a spanking to a child about to run into traffic so would I yell moron at someone who would follow Mr. Allan Brochstein's advice. It just shows how much I care.

2008 May 26 05:40 PM

[dananoah:]

We rare that a money manager / researcher admits he has no idea whats going on. So kudos for that. I think it times like this that we really find out who the creme of the crop is and who is not.

2008 May 26 06:16 PM

[dananoah:]

Advising to buy small stocks after a market corrections is definitely a gamble.

2008 May 26 06:17 PM

[ari5000:]

A lot of empty ideas. That the dollar would appreciate is really funny. Why would it? Government overspends and undertaxes and now revenues are shrinking. Why would the U.S. want a strong dollar with massive debts to pay and a shrinking economy?

Political arguments are a waste of time. Other than Ron Paul, the other candidates are all equally clueless in handling the mess they will take over. Better prepare for the worst than hope we can walk away painlessly from the mess Wall Street and Bernanke have created.

2008 May 26 07:48 PM

[Everyday Fi...:]

Interestingly, efficient market theory hasn't completely wiped out all cyclical patterns; I've highlighted a very strong correlation with seasonality and the Biotech cycle. It was successful for me once again this year and until the masses catch on, presumably, it will continue to work for some time. Somewhat lengthy, full analysis here.

everydayfinance.blogsp...

2008 May 26 08:35 PM

[pooramerican:]

I am not sure what will happen either. I thought we could rebound off 1381. Futures for the next session are up massively so maybe the plunge protection team has put together a genius plan over the weekend. I like many others is mostly in cash and small position in a gold miner and will probably jump on some of the oversold stocks if i can see some merit for a technical move higher.Some Elliot wave theorists was talking about 14500ish on the dow before next leg down.
If the market continues its uptrend, I just don't know how long can this be sustained. "They" will probably sell all their assets into it and buy overseas investments.

2008 May 26 09:25 PM

[User 143167:]

The problem is: If the oil and inflation keep rising, how could 10Y Treasury Yield keep under 4.5%?

2008 May 26 10:11 PM

[dectra:]

Brian Pursley: Your statement lacks the obvious critical point: When the republicans are in control, they slash taxes and increase spending, thereby promoting a 'false high' for the markets. When the Democrats come and have to clean up the mess the republicans inevitably leave behind, they are forced to raise taxes, which are a drag on the economy.

I left the GOP when they nominated bush as their 'best and brightest' to lead the party. Not very fond of the Democrats, but at least they understand you can't keep spending money while cutting taxes and expect the 'magic dollar' to keep chugging along...

2008 May 27 08:49 AM

[kappa:]

Im with jimmy46.

Regarding stock picks:
Sounds like a lot of bottom fishing if you ask me. Why try to catch a falling knife? Good luck with those stock picks though...Leading groups/stocks are more of my preference.

Coal
Oil & Gas
are best for now (if the market cooperates)

2008 May 27 09:33 AM

[jf_audit:]

"improving homeland security by actually having the military home protecting the homeland" - Elliott

As my 12 year old sister would say - ROTFL

2008 May 27 09:50 AM

[Jake2:]

Electing John (yawn) McCain would be the absolutely worst thing for the country and the economy. It would perpetuate the current Bush Recession as well as the Bush Boondoggle in Iran. And since when is jovial Ron Regan responsible for anything ( including a Bull Market of all things) other than a chuckle and a jar of jelly beans?

2008 May 27 12:29 PM

[surgcare:]

Does anyone remember Jimmy Carter . He nearly destroyed america .

2008 May 27 01:01 PM

[adan:]

though i disagree with you re the chances things'll be slightly better than not, i certainly commend you on explaining your positions, including your own doubts on your stances

i think the only thing i might add that hasn't been touched on by prior comments - and you did a good job of stirring up the thought-sends :-) - is i grew up in houston (still have most my family there) and foreclosures and price softening if not unknown there, and that's in a non-bubble local real estate market

might be something watching more in the coming months as your own possible canary in the coal mind

look fwd to your confirmations or good old fashioned change-of-mind (if warranted) in the months ahead :-)

2008 May 27 01:14 PM

[ardano:]

With respect to macro views detailed here, they remind me of rebounds off lows. The Dollar? Certainly due for a rebound. However, impossible to predict its future, (no pun,) as political control of the White House and Treasury will alter dollar policy. As for financials. They remain a stock pickers domain. Long and short positions in financials may well be one of the key trades for this year...and many alpha seekers will win and lose on this trade. I see narrow focused themes and violent swings throughout the year. In a macro sense the Fed is too optimistic about a rebound. Europe and Asia will also slow. Why do stocks get a bid? Commodities will continue to be hot as the leverage and liquidity will draw attention and assets. However, maybe nat gas will replace crude as the contract of choice...remember amaranth...

2008 May 27 01:25 PM

[sbenard:]

Glutton for punishment, Alan? You'll need a miracle for some of these picks.

2008 May 27 06:09 PM

[seeksome:]

I hope a miracle is on the horizon.seeksomething....

2008 May 27 08:04 PM

[pachanguero:]

Obama will tank the country while Jessie Jackson and Al Sharpton will be partying in the White House.

2008 May 28 07:52 AM

[User 201183:]

Obama will raise our taxes, LET DOWN OUR DEFENSES..(all democrats loath the military and our right to own our guns)..RE: Listening in on phone conversations with Terrorists..Still not brought up by Pelosi...,institute more useless WELFARE programs..Remember the GREAT SOCIETY by Lyndon Johnson...Poverty is the same now as it was then...,Take EXXON's profits and put up windmills, leave IRAQ sooner rather than later..gas 10.00 dollars a gallon...Shall I go on? Democrats are usesless dregs of society and should move to CUBA or China.

2008 May 28 04:51 PM

[jmartin:]

As usual, alot of people have run with comments that are not based in fact or reality. Some people think they are hiding their racism and contempt for those not so fortunate. What do you call what we are doing in Iraq if not welfare (for Halliburton). I won't demonstrate a complete lack of education by calling an entire group of people with individual thoughts "dregs of society" anymore than I would call all Republicans "racist, war-monger, homophobes". Some of these people need to repeat 3rd grade and learn about capitalization and punctuation. If you all think Allan is so stupid then why are you reading his advice?

2008 Jun 06 05:22 PM