Newspaper Page Text
The Lee County Ledger, Wednesday, July 9, 2008, Page 13A
The Tale of Two Markets: kountry kitchen :
Special to the Ledger
Provided by Scott Hunter,
Financial Advisor
Wachovia Securities
Although the long-term
outlook for the stock market
should be investors most
critical concern, most of us
are deeply influenced by
short-term market action.
It is almost impossible not
to be emotionally impacted
by daily and weekly market
action. Certainly, the poor
action of the stock market
the past four weeks has put
most folks in a bad mood.
When investors’ moods turn
negative, it is difficult not to
be in a “glass is half empty’’
state of mind. So let’s take a
look at both the short-term (a
month or so) and long-term
(six months to several years)
market prospects. First, the
short term. The DJIA, S&P
500 and Nasdaq Composite
have been dropping, and the
advance/decline ratio has
been negative for most of the
past four weeks. Yes, there
have been some several-day
rallies, but overall market
action has been negative.
This pullback has created
the preconditions for a short
term, oversold rally.
A month-long selloff cre
ates a high level of fear and
a very low level of greed --a
characteristic of at least a
short-term bottom. Also, a
decline in stock prices obvi
ously reduces price/earnings
multiples thus making stocks
more attractive for purchase.
The market does not go
straight down or straight
up, and the current level of
gloom indicates a market
environment in which, at
least for the short-term, the
sellers have sold about all
they want to sell. We have
the preconditions in place
for a short-term rally. The
long-term outlook is a dif
ferent tale. We continue to
believe the economy is in
a recession that started in
either December or January.
Investors had begun to look
past the subprime mortgage,
credit-market and home
price problems to better
times head. The problem
investors are unable to look
beyond at this time is the
steady increase in oil prices.
If the price of oil continues
to rise and stays high for a
period of time, the “gar
den variety’’ recession we
believe the economy is in
would turn into something
more severe. It is the ability
to look beyond the valley of
a recession to better times
ahead that starts new, long
term bull markets. The price
of oil needs to start com
ing down soon or this bear
market will drag on much
longer than we had antici
pated. Oil, like any com
modity, eventually reaches
a level where demand is
reduced and supply is too
abundant. A lot of the oil
price increase has been
emotional, and moods often
change when least expected.
Anyway, oil remains the big
long-term uncertainty for the
market. Economic data last
week showed the economy
continues to weaken, but not
collapse. The June Institute
of Supply Management
(ISM) manufacturing index
actually rose to 50.2, which
indicates expansion. June
nonfarm payrolls declined
62,000, the sixth month in
a row of contraction. The
short-term tale of the market
is that a reflex bounce is
probably close. The longer-
term tale is still held captive
by the price of oil.
The material contained
herein has been prepared
from sources and data we
believe to be reliable but we
make no guarantee as to its
accuracy or completeness.
The material is published
solely for informational
purposes and is not an offer
to buy or sell or solicitation
of an offer to buy or sell
any security or investment
product. This material is not
to be construed as provid-
The Heart Health
Benefits of Pistachios
Special to the Ledger
(ARA) - Pistachios are a
“super food’’ for health and
fitness-focused Americans,
according to a new Penn
State study that examined the
effects of pistachios on mul
tiple cardiovascular disease
(CVD) risk factors, including
cholesterol, blood pressure
and inflammation.
A diet rich in pistachios
packs a powerful nutrition
punch, the study shows.
Nutrition experts nationwide
are now recommending pista
chios as a heart-healthy snack
or heart-smart ingredient to
incorporate in favorite dishes.
Snacking on pistachios has
proved once again to have a
positive impact on improving
cardiovascular health, helping
decrease common CVD risk
factors. CVD remains the No.
1 cause of death in the U.S.,
with millions of Americans
currently living with the
disease.
In recent years, other prom
ising research has shown the
beneficial effects of consum
ing pistachios as part of a
daily diet. Eating pistachios
may reduce your body’s
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without notice. You should
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can fluctuate in price, value
and!or income, and you
may get back less than you
invested. Past performance
is no guarantee of future
results. Investments or in
vestment services mentioned
may not be suitable for you,
and if you have any doubts,
you should seek advice from
your financial consultant.
Where the purchase or sale
of an investment requires a
change from one currency
to another, fluctuations in
the exchange rate may have
an adverse effect on the
va lue, price or income of the
investment. Certain invest
ments may be mentioned
that are not readily realiz
able. This means that it may
be difficult to sell or realize
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reliable information regard
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and basis of taxation can
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EXPERIENCE MAKES THE DIFFERENCE”
Elect Norma G. Smith
Lee County Tax Commissioner
Republican Primary July 15,2008
Experience:
• Seven years in tax collection
• Five years property appraiser
Taxpayer Accountability:
• After hours drop box
• Debit or credit card payments
• Online taxpaying service
• Work with car dealers, insurance companies
and closing attorneys
Make The Taxpaying Experience As Painless
As Possible
6 • normasmith2008@gmail.com
^akHbH3^h^jandidate|
response to the stresses of ev
eryday life. Lifestyle changes,
along with a healthy diet and
exercise, can lessen biological
reactions to stress.
“Pistachios contain many
important nutrients that
contribute to their positive
effect on health. Every new
study adds another piece
to the puzzle of how eating
pistachios may benefit heart
health,’’ says Dr. Constance
Geiger, nutrition expert for
the Western Pistachio As
sociation (WPA), a voluntary
association representing
pistachio growers throughout
the nation.
In July 2003, the Food
and Drug Administration
announced that eating most
nuts, including pistachios,
may help reduce the risk of
heart disease when eaten as
part of a diet low in saturated
fat and cholesterol. Since
then, the U.S. pistachio indus
try has committed to learning
more about the nutritional
benefits of pistachios and
their impact on other health
issues affecting Americans
today.
Courtesy of ARAcontent
STOP THE INSANITY!
a
BEFORE YOU VOTE READ THIS
A friend who is a farmer recently told me his property tax
bill has been $80,000 per year. That is a sizable sum of
money to have to pay for taxes.
The average taxpayer probably pays less than $4000 and
you may be saying, he owns a lot of land and he should
have a high tax bill.
Back to my friend, his tax bill is now going to be $200,000
per year. Now it is more than double what it was. His
production capacity is the same, his fertilizer costs have
doubled, fuel is $1.50 more per gallon than last year and
now he has to come up with an additional $120,000 to
pay taxes. How much longer can this go on?
Why is our County Commission allowing tax increases
like this? The Commission will tell us that we need more
government services.
Consider this, WHO IS SERVING WHOM?
The taxpayers in this county are slaves to the
very government that is supposed to be serving
us.
The spending on our government is out of control and
taxes keep getting higher.
It seems like our County Commission serves the
department heads in our government more than the
taxpayers.
We need responsible leadership to help Lee County get
back on course and that is why I am endorsing Norman
Hoover - Leesburg District, Rick Muggridge - Century
District, and Bill Williamson - Redbone District.
These men are responsible businessmen who understand
how hard it is to pay taxes.
I believe these men will truly serve the needs of Lee
County and keep the taxpayer’s best interest in their
hearts.
Neil Wingfield
Paid for by Neil Wingfield