Replies to post #104958 on Zeev's Turnips Patch-No Politics (ZEEV)

[pantmaker]

Patience...this should be fun.

[Train Guy]

Oh man, you guys missed the big news of the day. Screw the Fed news, it's ..... Kmart that has us trying for da moon. <g>

2:17pm 05/06/03
Kmart comes out from under Chapter 11 (KMRTQ) By Jennifer Waters
Kmart Corp. said it came out of bankruptcy protection with $2 billion in financing, very little debt and 600 fewer stores. The discounter is expected to ring up net sales of $25.42 billion in fiscal year 2003, a 17.4 percent decrease from the prior year. But with fewer charges related to restructuring and impairments, as well as a better handle on inventories and no heavy debt payments, Kmart is forecasting a substantially narrower net loss of $286 million -- well below fiscal 2002's projected loss to $3.26 billion.

[Ace Hanlon]

The market is in one of those phases where all news -- good or bad -- is considered bullish. If the economy is improving that is good for stocks. But if the economy is weak that means the Fed will stay on easy street -- which also is good for stocks.