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Bulls & Bears
This past week's Bulls & Bears:
• Gary B. Smith, RealMoney.com columnist
• Pat Dorsey, Morningstar.com director of stock research
• Tobin Smith, ChangeWave Research editor
• Scott Bleier, HybridInvestors.com president
• Bob Froehlich, Scudder Investments chairman of investor strategy
• Ken Dolan, co-author of "Don't Mess With My Money"
Trading Pit: Liberals: Market Enemie$?
Democrat leaders are on the attack trying to talk down our chances of winning the war in Iraq.
Howard Dean stated last week, "The idea that we're going to win this war, is an idea that unfortunately is just plain wrong." Are liberals hurting America and the stock market?
Gary B. Smith: Yes. These comments send two messages. 1. Thank goodness Howard Dean is not Commander in Chief. 2. It paints us as a spineless nation that can't finish the job. A spineless nation is an object of attack or potential attack. Getting attacked by terrorists weakens our financial market. It weakens everything we live for.
Tobin Smith: No, the liberals are not hurting the stock market. Wall Street is thanking Howard Dean. It is actually looking for a leader, and now we know by these comments, it's not going to be the Democrats.
Ken Dolan: I'm a Vietnam veteran. The military wins battles and Washington loses them. This is very similar to Vietnam, which was lost in Washington, but not in Vietnam. Whether we should be in Iraq or not and whether or not it affects the market, we should go in and be united. The market hates indifference. The market is telling us that we need to flush this out a little bit.
Scott Bleier: The week before we invaded Iraq, the Dow was at 7500 and the Nasdaq was at 1250. Look where we are today. (The Dow closed on Friday at 10,778 and the Nasdaq closed on Friday at 2256.) The Democrats are embarrassed by what Howard Dean said. The market would be very unhappy if we left Iraq without accomplishing the goal of a viable democratic government.
Pat Dorsey: We're not pulling out of Iraq now. But if it did happen, the pullout wouldn't matter to the market. However, over the long-term, wars cost money and this means we won't have the money for a lot of things here at home. That's a problem.
Bob Froehlich: The greatest thing the Republican Party has going for it is Howard Dean. This causes problems in the short run because it drives more volatility. It also can keep some U.S. investors concerned and on the sidelines. These comments are an attack on President Bush. Of course, when there's an attack on the President it will have an impact.
What are the best stocks under $10? The Chartman has the best bargain stocking stuffers.
Gary B. Smith: I really like Sirius Satellite Radio (SIRI). The stock just broke out and is starting its next leg up. It's also been getting a lot of press for Howard Stern's show, which begins in January. The chart has been showing real strength and is heading to $10. (Sirius Satellite Radio closed on Friday at $7.87.)
Bob Froehlich: It's going to take more than Howard Stern to make this a good investment.