We have been living on the Gulf Coast since 1989. Almost every hurricane we have experienced has turned farther east than forecasters initially anticipated. Wall Street traders are betting the same way. Should Hurricane Rita hit along the Texas/Louisiana border, the 5.1 million residents of Houston will only take a minimal blow. This is good for retailers like WMT and BBY.

Oil stocks are soft today due to refinery shutdowns. Its very simple, you don't make money when you don't have the product. Traders are also worried about potential damages to refineries and equipment.

As a side note, I was watching the confirmation hearings of Judge John Roberts. Boy, do we have some self serving bozo's running our government. I have always like Patrick Leahy (D-Conn) because he his hardnosed and fair. He always asks the tough questions, but is not blindly one sided. On the other hand, Charles Schumer (D-NY) had to run to Los Angeles to take orders from Hollywood big shot, Norman Lear. Go figure. That is almost as ridiculous as the wife of a former President and Arkansas Governor becoming a Senator in the state of New York. Things are really screwed up. No wonder the rest of the world laughs at us.