OT

DELL (Cara Global 100)

05/24/06 DELL MICHAEL S Purchased 2.92 Mil $23.99 $70.04 Mil

8:07 (Dow Jones) First Albany thinks the Street's revenue expectations for
Dell's fiscal 2008 may be too optimistic, and the firm has some concerns about
DELL's aggressive pricing. Cuts the stock to neutral from buy. "The consensus
seems to imply that Dell's PC revenue growth will be significantly higher than
the projected industry growth rate, despite IT market's continuing shift toward
Dell's areas of weakness: mobility, emerging markets, and consumer," the firm
says. Also, aggressive pricing "might result at best in unprofitable growth,
and at worst in margin corrosion without the desired growth," First Albany
says. (JHS)

DELL
P:E 17.7 Ten Year Range 14.9-71
P:S 1.0 Ten Year Range 1.2-7
5 year sales growth 13%
5 Year income growth 18%

HPQ
P:E 30 Ten Year Range 19-33
P:S 1.0 Ten Year Range .68-1.86
5 year sales growth 5.6%
5 Year income growth NIL

Note I am a 'relative performance' manager, so my perspective is different. But I'll bet with Michael Dell ahead of the average analyst. This analyst JUST NOW is downgrading???

I am Long DELL at open.

From a trading perspective the short term down trend is taken out. The intermediate trend at $27-27.50 is near by resistance. If the NDX and SPX break down I doubt DELL is going higher, but if we get a more meaningful bounce prior to the break down then DELL is a stock to watch. JMHO

Here is a link to the speech

http://cbs4denver.com/businesswire/Bush-Text-1702509237-ff/resources_news_html

Andy

Problems? Future? [scratches head]

PRESIDENT BUSH: Secretary of the treasury has one of the most important jobs in the federal government. The treasury secretary is responsible for recommending and implementing policies dealing with taxes, financial markets, federal spending, trade and other issues affecting the health and competitiveness of the American economy.

The treasury secretary overseas the minting of U.S. currency, the management of public finances and the enforcement of important laws, including our efforts to crack down on terrorist financing.

The treasury secretary is the leading force on my economic team and the chief spokesman for my economic policies.
* * *
When he is confirmed by the Senate, Hank will build on John's fine work. He takes this new post at a hopeful time for American businesses and workers.

In the first quarter of 2006, the U.S. economy grew at an annual rate of 5.3 percent; the fastest growth in two and a half years. We added 5.2 million new jobs since August of 2003. The national unemployment rate is down to 4.7 percent.

Productivity is high, and that's leading to higher wages and a higher standard of living for the American people. Hourly compensation grew at an annual rate of 5.7 percent in the first quarter this year.

The American economy is powerful, productive and prosperous, and I look forward to working with Hank Paulson to keep it that way. As treasury secretary, Hank will be my principal adviser on the broad range of domestic and international economic issues that affect the well-being of all Americans.

Hank shares my philosophy that the economy prospers whency, where he's promoted conservation, both at home and abroad.

As one of America's most prominent business executives, Hank has been a strong and consistent voice for corporate accountability. When the corporate scandals broke, Hank showed his leadership and character by calling for reforms that would strengthen the way American's public companies are governed and improve their accounting practices. And as treasury secretary, Hank will bring those high standards to one of the most important posts in Washington.

The market seems to have slumped a bit today. For instance IVN is down from 7.37 close of friday to 6.84 at about 3 p.m. for a loss of 7.19% for the day.
MU another advisor pick from 2-3 weeks back is down about 1.5% from close on friday.
But GLG is up 1.59% but peaked up at about 3.8% this morning.

Quentusrex

No surprise market was down today. Bill has repeatedly mentioned a pullback, bear market conditions. IVN probably affected by news-"Mongolian president lets windfall profits on mining companies tax stand"--as well as overall market downdraft.

Another 5% correction over this next month or two would not surprise me. Maybe some opportunities to nibble as RSIs fall. Good luck!

Long: positions on a weakening dollar.