Recap

The markets did a 180 from yesterday with an orgy of buying and perhaps some short covering . Things couldn't look better though a little more volume would have helped. Then again its Friday. The spin is that the containment of inflation could lead to a Fed rate cut.

Almost every sector was green with huge gains in the metals with TIE up 9%+, heavy constuction had a ball with FWLT (9.13%) having a monstrous day. Transportation and retail lagged . High oil prices and poor retail sales having an effect no doubt.

This man sold most of his stocks and put money into big cap Dow names like Walmart because, he believes the Dow will go up over the next 25 years. I have news for him. Walmart won't exist in 25 years time. WMT has been around for 50+ years. I doubt it will be around in 25 years expecially in the rapidly evolving world we live in.

Biotech giant AMGN has taken a beating as of late with more bad news concerning its blockbuster anemia drug. Shares are down almost 20% in the last 8 trading sessions. I took a dip in this stock today at under $55. I actually had an accidental buy limit order which got filled. But I am not complaining. Some of my best investments have come of accidental orders that got filled. Like the time I bought Ebay last August at $23 .

Lets see what merger mania Monday brings us. What $500 trillion buyout will we see ? Will MSFT buy GOOG ? Will AAPL bid for MOT ? Will XOM buy COP ? Will Warren Buffett come in and leverage his $100 billion of cash 100-1 and buyout the Dow index ? Will Mexican billionaire Carlos Slim team up with British based Russian billionaire Roman Abramovich and buyout the S&P 500 ?

Than again, its all a casino till something or someone blows up.