SEPTEMBER 05, 2008 - The Fed will not raise rates after today's employment report that showed unemployment rising to 6.1% - there will be a call for them to lower rates now. Would continue buying recommended banks and brokers. The July 15 lows of banking and consumer stocks will hold - commodity stocks will go lower but think natural gas has bottomed. It may be getting time to buy the semis (SOX) that hit a five year low today. Oil has not bottomed yet.
large ($200b) Chinese oil co should be bought "with abandon" - gets the total cold shoulder in America - has full weight of the Communist govt behind it - usually you can't trust what they report - Warren Buffet bought the stock at lower prices ($2.3b of shares - 10% of co) - the Chinese know how strong their demand for oil is (they are driving it) - have near infinite financing from the govt for acquisitions - could become the world's largest oil co - cheap - 3.5% dividend - hot Chinese market is up 50% - and more money will flow into China - and move stock - will not disappoint
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