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Zeev Hed

09/21/06 8:21 AM

#500572 RE: extelecom #500570

Yes, lower crude may spur some consumer demand, but that may be already factored in, particularly with the additional fact that housing in in a "funk" and contribution from the housing industry to GDP is probably greater than the impact of lower energy prices on consumer spending abilities. Right now I do not have a "nassacre", we never got the deep excess enthusiasm required for that. Even here where the Dow and spoo are printing multi years highs, we still do not have excess enthusiasm.