Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

Went long MIR and CPN as there clearly was way too much pessism: REI up over 60% today on REAL earnings

I would not touch MIR and CPN as being too extended debt wize. REI is on the boarder line in terms of debt levels that I was considering. I could see you trading for quick buck.

I see DUK as much more financially stable to trade longer term. All energy stocks are depressed the questioin which ones have least risk with some good upside return.

Personally I think Aug 14 brings a firm guarantee to find adequate credit backed by government to any company that is over leveraged but with clean books that is currently profitable. We going to need some sort well defined government assisted private sector bailout plan to get through energy and telecom bailouts before it becomes a cascading thing. Earnings problems at EDS, IBM gobal services just for example for computer support are examples of how quickly we could go in earnings crapper exponentially unless this is nipped in bud.

Da boys in DC know a thing or two about energy companies. W's got bailed out of a tough situaiton in 80's to the point where end result was becoming part owner of baseball team. I see nothing different now for government to help it's struggling affilities if I use baseball analogy which is about as deep as W goes.