Fox Saturday Morning "Business Bloc" for April 23, 2005

Fox News Channel' s "Cost of Freedom" Saturday Morning shows--
Bulls and Bears started with the Trading Pit discussing what happens next. Tobin Smith called the bottom this week. . .Gary Kaltbaum on the other hand said the top happened weeks ago and we're going lower. He said there were high volume declines and low volume rallies, and the huge up day on Thursday is indicative of the sharp rallies that occur in a bear market. Herman Cain said he is a bulldog in between the bulls and bears and said this is the time to look at undervalued compaines, naming WHR. Gary B. Smith thinks there's a little more downside and then up, saying he would look at tech. Scott Bleier said the markets are going maybe 2% lower, then "buy everthing in sight." Pat Dorsey got "excited" when things were lower, saying there were some bargains, naming IGT, and EBAY. In the Stock Xchange, mergers were discussed. Pat mentioned STLD as a steel takeover target. Gary K. says steel is "over" and prefers ATVI as a takeover. Toby mentioned ATI because of titanium. Scott said DRS because defense is "bulletproof". In the ChartMan segment, Gary B. said GM is at very long term support--buy on Monday with a stop at 24 (he says he owns it). Toby said it's going bankrupt--buy it when it comes out of bankruptcy. His other pick was GOOG--he said it's been basing while the market is going down, and it's going to 250. In Predictions Gary K says the Dow is going to 9K before 11K, Pat says buy CME--it is cheap and he owns it; Gary B says buy DAL "it's down for stupid reasons"--it doubles in a year; Scott says buy LSI it will be up 30% by fall. Toby says buy FO and sell BUD.

Cavuto on Business started with the Bottom Line discussing Social Security. Lots of jibba jabba. Jim Rogers said if you are under 40, you'll never see social security. Gregg Hymowitz said "rich people" shouldn't get social security (that's great, because it's always the other guy who's rich). Bob Froehlich said the best investment opportunities will be outside the United States. In the More for you money segment Danielle Hughes said buy EBAY to retire rich. The great DVR moment was when Hymowitz asked her what the multiple of EBAY was, she hesitated and said, "You got me, but it's down 40% and at a 52 week low." Okay, thanks Dani. Bob F. says buy CHL--world's largest cell phone provider with 200 million subscribers. Gregg Hymowitz says buy C and Jim Rogers says he's shorting it. Rogers says buy hard assets and airlines. In the Buy Monday segment, more jibba jabba-- market up, jibba, market down, jabba, commodities, jibba, overseas, jabba. Pointless. In Fox on the spot, Bob F. says one more interest rate hike, and the Fed is done, so buy financials. Jim says the NYSE is over, and sell AX, Dani says buy AX.

Forbes on Fox started with a discussion of are we in a Boom or Bust. Even if they solved the question of whether the economy is strong, that doesn't tell me what the markets will do. Lots of arm waving. Some pointless out of context statistics--36% of SP 500 companies' profits come from financing activites; sales at SP500 companies have gone up 12%, but profits have gone up 93%. Whatever. The Flipside discussed Asia as the next big threat. More arm waving. The insights were not much deeper than "It would be bad if China invaded Taiwan" "Yeah, and they'd lose all their trading partners so they won't". The Informer segment mentioned ADP, CREE, MSFT and DLM without much rhyme or reason that I could see. In the Makers and Breakers segment, Jack Ablin of Harris Private Bank recommended PFE. Yoda's younger brother Jim Michaels liked it as well. Ablin also picked CMX.

Cashin' In started with a discussion of the death tax. Lots of political arm waving. Very little to trade off of. Wayne Rogers said he's short some things but refused to name them. In Best Bets, Wendell Perkins of Johnson Family Mutual Funds is buying the TRB, Wayne Rogers is buying NXTP , Jonathan Hoenig still thinks utilities are the only real strong segment of the market, and mentioned SO. In the money mail segment, the first question was what's the most important thing to look for in a stock. Wayne said he looks at the technicals--(although, interestingly, he says this assumes that the fundamentals are good as well) volume, institutional support, formation of a base. Jonathan says he looks at price--likes to see a stock that is doing well but the herd hasn't noticed it yet. The next question was about F and the other automakers. Everyone agreed they are in bad shape without much analysis. The final question was about the NYSE merger. Jonathan mentioned MKTX as a stock he's been looking at but hasn't bought yet. In the Stock of the Week, Wendell Perkins was pimping JPM saying it has a lot of upside if rates don't rise much (which he thinks they won't). Jonathan pointed out that the Johnson family funds own a lot of banks, and Wendell agreed saying they like the sector.