Gasoline Excuses and Plays

Markets tipped back into negative territory, even on the big-cap side. Wal Mart's earnings looked good, but they're whining about sales going forward. The culprit? Gasoline prices. They claim their customers are shutting their pocketbooks, but I don't buy it. I think customers are just heading more upstream, and that's good news for the entire economy. Buffett announced his acquisition of a large piece of ConocoPhillips, so the gasoline situation is good news for Berkshire Hathaway. Tech has been sliding a good bit lately, but HP released stellar earnings after the close. Let's hope for a bounce in this sector tomorrow. Dow -8.56 NASDAQ -9.39 S&P 500 -2.42