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Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Scott Bleier, HybridInvestors.com president; Eric Bolling, Independent Trader, and Marc Lamont Hill, Temple University professor.
Trading Pit: Gas Near All-Time High; What Happened to Dems' Promise?
Gas ready to hit a new all-time high, just as you get ready to hit the road for the holidays. All this happening one-year after the Dems swept into congress promising to lower prices at the pump. Senator Hillary Clinton even saying this back on July 25, 2006: "Elect Democrats in November if you don't like these outrageous gas prices, if you feel that the oil companies have been given a free ride by the President and Vice President vote for Democrats". So what happened?
Gary B. Smith: The Democrats realized you can't fight market forces. It's like having a position in the stock market that's going against you. You keep buying and buying more in hopes that it will eventually go up, and it just can't! The market forces are just too big and the Democrats finally realize that.
Marc Lamont Hill: Some of the Democrats have caved because of election year pressure. But what we need to see is a move to reduce the demand for oil.
Eric Bolling: Gas is substantially higher than it was a year ago. This is due to a number of reasons. One being there are no new refineries that we know about, we aren't allowed to drill in ANWR, and we're not allowed to drill substantially off the cost. These are things that can still be changed, if they allowed us to drill in places we haven't been able to drill in the past. This would bring the price of oil and gasoline down.
Pat Dorsey: Neither party has any control over what gas prices do. It's a factor of refining capacity, and how much supply OPEC is producing. And OPEC has not really increased supply over the past couple of years.
Scott Bleier: Politicians have been promising anything to get elected for centuries. But promising to get gas and oil prices down is the biggest doozy of them all. You need coherent government policy on energy, on drilling, on alternative energy. No windfall taxes; let the open market conduct this.
Wal-Mart's New Health Plan: Time to Stop Calling it the "Evil Empire"?
Marc Lamont Hill: There is nothing more evil than Wal-Mart. This new health plan does nothing to mitigate all the harmful things Wal-Mart does to the economy, to workers rights, and to labor rights.
Eric Bolling: They are always going to be a bull's-eye! They're just too big to shake that.
Gary B Smith: Every man, woman, and child in the United States should get down on their knees and thank Wal-Mart for the low prices.
Eric has brought his A-game because our gang is going to put him to the test! Eric Bolling's best stock buys right now versus the Bulls & Bears:
Entergy (ETR )
iShares Brazil (EWZ )
iShares Select Dividend (DVY )