Market news

Well, oil is still hovering around $103 a barrel, which is significantly lower that where is was this summer.  You would think my pump price would not still be $3.96/gallon (up $0.25 in one day!).  Well, the speculation is with Ike heading toward Texas, there could be some supply interruptions from that area.  OPEC announced it will have a "modest cut" in production, but experts still think the crude prices will be lower in coming months.  Apparently just not in my neighborhood - we will see!

RIM (maker of the Blackberry) has a new product - flip phone version (Pearl 8220).  Apple has come out with two new products (or should we say to updates to existing products), with its new iTouch and new 4th generation iPod nano.  A little more storage capacity, some colors choices, and enhanced capabilities are what are in store for anyone entering the fray for the first time, or to get that "other" device.  RIM is going to move away from the flat, touch screen type of product, where Apple intends to focus its development in that area.  I think I can see Apple's product focus, the Shuffle for small, portable tunes - the Nano for more storage, photo, video possibilities in a portable, small package, the iTouch for those that want all the bells and whistles but already have a cell phone, the iPhone - does a bunch of stuff (though some may say it is limited in storage), the the classic iPod which will only be available in 120 GB models is the multimedia storage portable device.  Which company makes the better long term investment?  I don't know.  I do think the record of Apple speaks for itself, though it is hard to make up that type of growth year in an year out with new products, software, extras (iTunes, App Store, etc.).  I think the big worry there is what happens when Steve Jobs decides to step down.  Is there a secession plan???

The U.S. Markets rebound a little today, though European and Asian markets continue to fall.  Recession woes seem to have turned to inflation worries.  If this is the case you want to be in short bonds (as rates would be projected to rise) and away from "trendy" type stocks unless they have a great story and look at "staples" (defensive stocks) until the election on November 4th.  That is one conservative strategy (though there are some sitting on the sidelines in cash - waiting for the right time!  Coca-Cola has made a $2.5 billion offer for the China Huiyuan Juice Group.  This Chinese company was said to have a 44 percent market share, so Coke is getting a great foot into this market in a big way!