Even though I had Bloomberg on all day, I did not catch the debt ceiling action and the role of the Gang of Six.

No. 6 Took The Picture

(Thanks Hutch for the note) For those that don't know, a group of six senators have introduced a proposal to cut the budget my 3.6 trillion and (probably out of desperation) the proposal was picking up a lot of interest today. That was one of the reasons for the almost 2% bump today.

Now before you get all excited, the last time a Gang of Six Senators got together to clear a log jam on capitol hill, we ended up with Obama Care. That was 2009 and we still don't know how that is going to turn out?

This time the Gang of Six (Dems-Warner VA, Durbin IL, Conrad ND, REP-Chambliss GA, Crapo ID, Coburn OK) has a proposal that ironically cuts health care by 200 Billion, a complete overhauls of the abused and inefficient Medicare physician reimbursement program, reengineer medical malpractice claims, and erase the long term medical insurance bill introduced last year (listen-you can hear Ted Kennedy banging on his box).

Harry Reid was his normal helpful self by saying his budget committee will not have enough time to review a plan so robust in time for the August 2nd date. Funny how his same committee was able to endorse the 1700 page health care plan 34 hours after introduction? Uh oh, slipping into politics a bit too much.

Anyhow the first glimmer of hope for a plan lightened the spirits of the market. IBM had a great earnings report as well as KO. They seemed to out weight the stinky report from Bank of America. Even housing was up today permits and starts surprised to the upside (got that one wrong).

CMG, Chipolte Mexican Grille, was my top performing equity of the year (Thank You Jerene-and Jim Cramer). We were enjoying a 21% gain on the stock at 12:53 PM. I was even thinking about taking a little profit. They reported and disappointed and now I am happy with a 14% gain. This is a good buying opportunity folks. Please consider it, but do your homework and listen to the CEO comments.

Speaking of Cramer, he was pimping UN 

Unilever N.V. and its subsidiaries produce and supply fast moving consumer goods in food, personal care, and home care categories in Asia, Africa, central and eastern Europe, the Americas, and western Europe. It offers savoury, dressings, and spreads, such as soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines, spreads, and cooking products under the Knorr, Hellmann's, Becel/Flora, and Rama/Blue Band brand names; and ice creams, tea-based beverages, weight management products, and nutritionally enhanced staples under the Heartbrand, Ben & Jerry's, Lipton, Brooke Bond, and SlimFast brand names. The company also provides personal care products, including skin care and hair care products, deodorants, anti-perspirants, and oral care products under the Dove, Rexona, Lux, Axe/Lynx, Suave, Signal, Pond's, Lifebuoy, FDS, Just for me, Motions, Nexxus, Noxzema, Close Up, Soft and Beautiful, St Ives, Sunsilk, TCB, TIGI, TRESemme, Vaseline, and VO5 brand names; and home care products, such as laundry tablets, powders and liquids, soap bars, and various cleaning products under the Omo/Persil, Surf, Comfort, Cif, Pureit, Domestos, Radiant, and Sunlight brand names. In addition, it offers food solutions for chefs and caterers. The company was formerly known as Naamlooze Vennootschap Margarine Unie. Unilever N.V. was founded in 1927 and is based in Rotterdam, the Netherlands. Unilever N.V. is a subsidiary of The Unilever Group.       today. I did not take my own advice and based upon just his comments we initiated a position before the close today. We will report back to you after we have done the homework. At face value, Cramer might have another winner.

Salve Lucrum