Paris Hilton must've texted Lindsay Lohan about her wonderful experiences behind bars. Lindsay turns herself in. A week after leaving a 45-day rehab program, actress Lindsay Lohan has turned herself in to police to face charges of drunken driving in connection with a May car crash. - Okay, so the profit takers are trading under the influence today on The Google's and The Big Cat's earnings misses. There are plenty of reasons to book gains here. We've had a tremendous run since September 2002. What is this, the 2nd longest bull market in history? We've also had an impressive ramp since last summer with barely a blip on the charts. We're also approaching a historically weak period in the market. Nothing wrong with taking profits.
- Even if the bull market takes a pause for a few months, it doesn't mean that it's over. I'd imagine public sentiment would be shaken. Combine a 10% market pullback with the real estate market, Iraq, Iran, "global warming," oil prices, and national hatred for George Bush? We're all a gloomy bunch.
- More on that. Why are folks so gloomy? There is a perception that the economy sucks at 4.5% unemployment, wages growing, net worth at highest levels ever, and second longest bull market ever with the SP500 closing at an all-time high as of yesterday. In 2004, John Kerry said while campaigning that the economy was the "worst since the great depression." Really? Is that what folks are still thinking? Maybe folks are spending too much time over at DailyKos. I'd hate to see sentiment if the SP500 were under 800 and unemployment over 8%!
- Ooma launching FREE consumer phone service. They charge no fees for domestic calls, and they make up the costs on volume. Just kidding! They sell a base unit for $399, and you must have a broadband internet connection. They also sell smaller units called scouts, and plan on having pay-per features like specific ring tones per callers. My fear would be shelling out the $399 and then having them go out of business in a year.
- You get the feeling the Republicans are going to get smoked in November 2008? What about Democratic gains in Congress? Could we (as investors) be looking at a dramatically different financial picture in January 2009? Every Democrat I've hears is anxious to raise taxes. And many of the Bush tax cuts are going to end in the next few years.
- Did you hear that Al Gore's daughter picked up Al Gore's son in the Maserati Quattroporte? Just another mode of transportation in the Gore family's "Green Fleet." Specs? DOHC 400 horsepower, V-8 under its hood, and sucking down the fuel with EPA numbers of 13 mpg city and 18 mph highway. Noice.
- Maybe Lindsay Lohan is setting herself up for the Comeback Actress of the Year award down the road. "Drunk Chicks Gone Good" wouldn't make a hit pay-per view movie, but maybe it'd revive some careers and improve overall revenues.
- Miami Dolphin's wide receiver Chris Chambers was also picked up for driving under the influence. If you saw the Dolphins last year, you might think, in retrospect, that he was playing under the influence. The Miami Herald article linked to introduces an interesting diversion on which matters more, the sobriety test or the breathalizer. Hmm... Lindsay, your thoughts? Al? Anyone? Google?
