Possible Militant Drugs Stopped

The U.S. Navy and U.K. forces have seized more than 20 tons of drugs on a hashish highway through the Indian Ocean.Since October,100 million dollars' worth of drugs have been halted.These could have funded Afghan militants.The drugs were seized in the Arabian Sea and the Gulf of Aden,where there have been many Somali pirate attacks.U.S. Fifth Fleet spokesman Lt.Nathan Christensen declined to say where the drugs came from,but noted that many of the narcotics stopped along the route are going to and from Afghanistan and Pakistan.

Good Signs

Peter Cook of Performance Trust Capital Partners sees good signs in the economy.The low gas prices are a 2-3% consumer stimulus,on top of a record pace in refinancing.In 2002-2003,there was a giant refinancing boom at the end of a bear market.Today we are making fewer houses and cars than the demand rate.This is what you see at the end of a cycle,Mr.Cook indicated.

Holiday Greetings

I will not be publishing next Wednesday,Christmas Eve.Have a blessed holiday season.A special greeting to our military men and women,many of whom are serving in dangerous places far from home.Have the best holiday you can,and we hope to see you soon.

Marine Air Group 14

This air group is based at Marine Corps Air Station Cherry Point,North Carolina.They fly AV-8B Harrier II jump jets,the TAV-8B trainer,the EA-6B Prowler reconnaisance aircraft,and the KC130J Hercules tanker/transport.Squadrons of MAG 14 include the Dragons,Bulldogs,Ace of Spades,Flying Tigers,Hawks,Banshees,Death Jesters,Moondogs,Seahawks,and Otis.

Manley's Outlook

Once the market feels we have our hands around this thing,it's not gonna wait for every little problem to be fixed,says John Manley of Citi Smith Barney.The models for a lot of the financials are basically good.The financial industry is gonna be a restructured industry,with just a few companies,Mr.Manley believes.

Al-Qaida Figure Killed

U.S. troops killed a top al-Qaida militant and his associate,and detained five others,during a Baghdad raid on 11 November.The raid in the Mansour neighborhood resulted in the death of Hajji Hammadi,who was involved in the capture and execution of Army Reserve Staff Sargent Matt Maupin,20,in 2004,as well as the deaths of three U.S. Marines in a 26 June,2008 attack in Anbar province,Iraq.Also killed in the June attack were more than 20 Iraqis and two interpreters.Al-Qaida in Iraq has suffered numerous setbacks this year as the Iraqi people turned against it and helped U.S. forces combat the Islamic militants.

About Bear Markets

According to Carter Worth of Oppenheimer,bear markets have two phases:1.capitulation,and 2.apathy(healing).We are still in the first phase,since the markets are in the process of finding a bottom.The volatility we are seeing is unprecedented.Mr. Worth likes airlines,biotech and regional banks.

An Old Cruise Missile

The Harpoon cruise missile is still in service 31 years after its introduction.The Boeing product is an all-weather,autonomous,over-the-horizon anti-ship missile,with a sea-skimming trajectory and active radar guidance.It can be launched from a variety of platforms,from submarines to surface vessels,ground defense sites and aircraft.Twenty-seven countries rely on the Harpoon for anti-ship defense.It has a range of more than 60 nautical miles and cruises at high subsonic speeds.The Navy deploys the AGM-84D Harpoon on Arleigh Burke class destroyers and Ticonderoga class cruisers,as well as Hornet and Super Hornet strike fighters.

Mike Holland's Tips

Mike Holland of Holland and Company says you're almost always wrong when you sell in a panic.The problems in the financial system will eventually be fixed.Treasury Inflation-Protected Securities may be the buy of a lifetime because of the deflationary environment.