Fox News Channel' s "Cost of Freedom" Saturday Morning shows--
Bulls and Bears started with the usual trading pit blather; i.e. Bob Froehlich said it's time to buy, Herb Greenberg said sell. Gary B. Smith said the charts show a big bounce is coming (I'm not sure what chart he's looking at) Tobin Smith made a bizarre comment, when asked if he was selling, said, "Not selling, just waiting to get back in lower." Joe Battipaglia, as always, is looking for at least 5-10% on the upside. The topic in the Chart Man segment was stocks to buy with an income tax refund; Bob Froehlich suggested SNP (China Petroleum) but Gary B. Smith said it has just broken a trendline so sell. Joe Battipaglia named RHI, but again Gary B said it's broken down on the chart. Gary's pick was MDC. Next was the lightning round-- NOK --Bulls were Herb G, Bob F, Toby, and Joey B; Bears were Scott and Gary B. Next was BAC -- Bulls were Toby, Gary B, Joey B, Bob F; Bears were Herb G and Scott. For MMM -- Bulls were Toby and Bob F; Bears were Joey B, Scott, Gary B, and Herb G. Finally LLY, everyone was bullish except for Herb G. In Predictions, Bob said Dow 12K this year, Joey B said oil to $40/barrel and gas down. Gary B says AAPL to 30 but becomes a buy there. Scott said HD up 20% by summer because people will still put money in their homes. Toby said buy SMG up 20% by summer because people will be growing grass.
Cavuto on Business started with a segment on whether the UN needs a lesson in ethics from the business world. Interesting stuff, but doesn't really help me make money. Lots of yelling over each other, and Jim Rogers did say "Balderdash". In the next segment, Meredith Whitney picked AXP, Gregg Hymowitz mentioned FON as a "cheap stock", Chris Lahiji picked PDG because "gold correlates with deficits", Jim Rogers is buying bonds of US airlines (some are apparently yielding 15%) .The next segment dealt with whether Bush should have picked tax reform instead of social security reform as an initiative. Again, this is politics, not investing and of little interest to me as far as trying to make money. Besides, nothing very novel was said. Fox on the spot was a bunch of nonsense about Tom Delay, American Idol, and breast implants.
Forbes on Fox (gulp) somehow, my DVR didn't record Forbes. OOPS!!, well I generally find Forbes to be the least useful of this group of shows.
Cashin' In started with a segment discussing Iraq. Lots of blather about whether US troops coming home from Iraq would help the markets. Very little novel was said. In the Best Bets segment, Jonas Max Ferris picked MNT because they may wind up with a monopoly on silicon breast implants in this country. Charles Payne suggested HRB (after tax day?). Wayne Rogers mentioned DOX, a software company, although he admitted that since Goldman Sacks upgraded it, that makes him nervous. Jonathan Hoenig said he is in TE, like other energy stocks BRG, EXC, AYE, DUK saying utilities are the "strongest group in a weak market". In the stock of the week segment, Charles picked EBAY, saying it is cheap now--and the usual discussion ensued about whether you want to buy cheap stocks or strong stocks. The last 10 seconds was rather curious--host Terry Keenan asked Wayne Rogers what he was looking toward in the next week, and he answered, "I've shorted a few things, I'm very nervous, at this time, you don't want to put new money to work without doing your homework." (Needelpoint that into a sampler and hang it on the wall.)
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