Turnaround Thursday?

"We are all in the gutter, but some of us are looking at the stars." - Oscar Wilde

Morning News of Note:

• Energy: Sept global oil consumption dn 0.12% y/y to 82.62m bbls/day; industrialized country demand dn (0.6%) y/y, developing country deamnd dn (0.6%) y/y; US consumption dn (1.6%) y/y; revised July and Aug data suggest global demand slowed drastically after oil breached $50/bbl -- Intl Oil Daily
• Bull Market: Will the Bull Catch a Second Wind? ENTERING THE FOURTH YEAR of the bull market, the musical accompaniment could be Frank Sinatra crooning, "It's all or nothing at all." Some bull markets don't even make it to the four-year mark. But when they do, the Standard & Poor's 500 Index has produced a not-too-shabby average 12-month return of 14%. (Full Story) BARRONS
• AAPL: Apple May Unveil New Video iPod During Next Week Apple Computer Inc., in a much-anticipated effort to expand its position in digital entertainment, next week is expected to introduce a version of the iPod capable of playing video and to begin selling music videos through its iTunes Music Store, according to people familiar with the matter. A spokesman for the Cupertino, Calif., company declined to comment on "rumors and speculation (Full Story) WSJ
• US Economy: MNST US online employment index 140 vs 142 in Aug

Market Comments: The market is hovering around the flat-line so far this morning. I think a dip this morning followed by a rally into the close would make for a nice turnaround Thursday. Retail sales were pretty much better-than-expected this morning. Especially for stocks like SBUX, CTRN, PSUN, etc. On the downside, check out TLB, PETM, and FD.

Energy stocks continue to be sold with reckless abandon. I think many of these stocks are getting short-term oversold, and our due for a bounce. But I don't think they are at levels that are long-term buys yet.

long MNST, SBUX