Hello all:

I bought a small position today. I bought some at $6.64 on the huge dip today.

I think that SSI is the best positioned of all the department stores.

They have a couple of competitive advantages. They service small markets, which have less competition.

A lot of their stores are in TX, OK, & LA, which all have strong economies due to high energy prices. The economy in TX is good.

Most important of all, they have a GREAT capital structure. They will have NO PROBLEM with debt. They have a strong cash flow that they can use to expand, buy out competitors, or pay of the little debt that they have. OR THEY CAN RAISE THE DIVIDEND!

I am also looking at Nordstrom (JWN). But I think there are more difficult times coming.

Roberto