Thursday Morning

Futures are up slightly off some decent Walmart results and the Dow chemical buyout of Rohm and Haas. On the other side of the equation it really looks like Fannie and Freddie will need a government bailout. What a mess. Before you get excited about retail numbers, you all know I think the consumer is “finito,” understand that June is clearance month for retail and July, August is the true tell according to my gal Kristen over at the talented blond.
I am looking for more shorts in the financials today. I will be back if I see anything.