Reality Check

Wow, Mr Bernanke sure splashed a little cold water on everyone. At a hearing in front of congress he chastised congress for not making the tough decisions. He believes this will have long term repercussions on the US economy and that social security reform should have been started 10 years ago. Ouch.

Then I love the politicians.
Sen. Judd Gregg of New Hampshire, the committee's top-ranking Republican, called Bernanke's warning "right on, and a clarion call that I hope folks will listen to."

Senate Budget Committee Chairman Kent Conrad, D-N.D., said: "We hope people are listening about the need for us to address these long-term imbalances, to take these challenges on, and the sooner we do so, the better."

Can you believe they said that? We hope people are listening also... meaning the politicians, who start talking about gay marriage or flag burning whenever they want to shift attention from real issues like an illusionist. Okay, I am off my soap box.

Downer day for my portfolio today.

PNCL did buy another airline today for what seemed a ridiculously cheap price of $20m (Pinnacle Airlines buys Colgan Air for $20 million). Seems like a savvy acquisition to me.

HW is starting a full scale commercial operation of their new technology to utilize more heavy crude (Second European Refinery to Run Headwaters' Heavy Oil Catalyst Technology). The article said that the technique could be worth $50b to oil & gas firms in enhanced value. Big number. I'll be watching closely. I will almost certainly be keeping HW for another year in MFI if still on the list. Even if off the list, I'll hold in non-MFI portfolio. This is really a hated stock. But over time, the market will have to recognize the value HW brings.

ANF hit a 52 week high today in a bit or rare good news for my portfolio (Abercrombie Shares Hit 52-Week High). This stock may still have a little room to run. It is on S&Ps 5 star portfolio. It also still makes the list, top 100 over 1.5b. We'll see how their big Christmas quarter fares.