Macro Outlook
In the hills of Arkansas, they describe the eastern concept of Karma thusly: “When you're up, you're up, and when you're down, you're down.”

And right now, that prince of Bentonville, Arkansas, Wal-Mart Stores Inc. (WMT: NYSE), seems to be suffering the latter state of affairs. It is not quite sure why, but right now, just about everything it tries turns to mud.

The company recently hired Terry Nelson in an attempt to polish its ever so slightly tarnished image. While working for WMT, Nelson also crafted a genuinely offensive ad for Bob Corker's Tennessee senatorial campaign.

We're talking really ugly here: Even the RNC, which paid for the ad, tried to disavow all knowledge and once pinned, asked for it to be pulled.

It took all of two days for someone to make the connection, and now liberal activists are asking the big W to disavow Nelson under threat of boycott. Don't rightly know whether the company should cave or not… so far Nelson is not making them look any better.

On the other hand, when was the last time you even heard something like this about Target Corporation (TGT: NYSE)?

More tonight…

Market Trends
Even more interesting news in the telecommunications industry…

AT&T Corp. (T:NYSE) has unveiled a plan to create a “digital living room” called Homezone with a multimedia service that combines Dish Network satellite television and AT&T's Internet access in a simple set-top box (much like the Comcast cable box).

The HomeZone set-top allows you to download and record movies, as well as use a wireless connection to move photos and movies from your computer to your television screen.

In sake of competition, the service in total will cost about as much as Comcast's new bundle service at $99.00.

Trading Tactics
Our resident Material Profits editor S.R. Nunnally has invited me to join her at the Cellulosic Ethanol Conference in Chicago this afternoon, so I'll be joining her to size up the benefits of this new technology.

Cellulosic Ethanol is derived from fast-growing grasses or agricultural waste, and it could create new opportunities for the ethanol industry and for investors.

I'm sure Sara will have a full report when she gets back, but I'm on the lookout for promising companies that could prove to be explosive investments in this growing field.

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