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Tuesday Wrap-Up

Well, that was a torturous day.

I am feeling very bearish after watching stocks today. Even the mighty Google fell $20 (as I predicted 2 weeks ago and, more importantly, this morning).

My Ebays are officially killing me at this point with a $2 drop in the past week!

The builders are officially dead with great numbers on housing starts failing to raise them for more than an hour today.

One reason the market pulled back is the insane logic that, with great housing numbers and great consumer confidence, the Fed will raise rates again which will kill everything. The bottom line is that fear is driving stocks and that makes this a bad time to be long.

Valero was up all day and kept us out of oil but they did not go down much. Have to wait for inventory tomorrow…

The LVS put at $2.35 looks good thru tomorrow, on Yahoo their trailing p/e is listed at 170.

I picked up Tivo at the garage sale today. $5.15 was just too cheap to pass up.


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