User 153975

Oil Up $6 to $104

Actually, oil is still in an uptrend if you look at a chart with a longer time span. The chart shown in the article portrays a short term correction in a long term uptrend. China stopped buying most commodities because they wanted to reduce pollution for the Olympics by idling industrial production. Now that the Olympics and Paralympics are over, they may resume buying commodities, especially crude oil. I am looking for opportunities to get long oil and short airlines, casinos, etc.

How Evil is Exxon-Mobil?

I have seen this sort of analysis of Exxon's income versus taxes for the full year that ended 4 months ago. They made $45 billion after paying $105 billion in various taxes, which means that taxes consumed 70 percent of the $150 billion they would have made had there been no taxes. Maybe we should have an excess profits tax on Sen. Schumer if he takes home more than 30 percent of his pre-tax income. Schumer did a pretty good job of ruining IndyMac bank, it scares me that he is turning his attention to Exxon without taking a refresher course in ethics first. He probably doesn't have enough sense to be ashamed of himself for causing a run on the bank.

Sears: The End is Near

I just got back from shopping at K-Mart. Bought a pair of Wrangler black jeans for $9.99 and a bargain DVD for $2.50. I've always liked K-Mart and it is sad that the store is so empty of customers. They are price competitive with WalMart, but the choice of merchandise is not nearly as good. It is interesting how stores go in and out of favor. I made a few bucks on SHLD puts a while back but I haven't re-entered on the short side. Timing never seems quite right and yet SHLD keeps going down. It still seems overpriced to me, but I always find a better short.

Jim Cramer's 10 Predictions for 2008

I love Dubya. Maybe he will move from the White House to Mount Rushmore next year.

Options Trader: Monday Outlook

Options Trader, could you please say something about options trading or use a more descriptive title for your next piece? It is a waste of my time to read a regurgitation of the Wall Street Breakfast column.