Today is the day we decide to hold or fold. Will they sack America too?

If the media continues to report raw data we should soon see a fall off in job losses starting in March. That would help a stock market rally. Of course if they want to continue "great depression" talk and to attack Wall Street they could begin reporting seasonally adjusted data as that would now be helpful in depressing the markets. But there is at least a chance that March will bear more favorable news in spite of the Obama Administration's apparent desire to create a worldwide depression by spreading fear and financial market chaos.

Yesterday, Obama decimated the Health Care sector by announcing his plans to reduce government maximum payments for pharmaceuticals and medical procedures. The health care stocks tanked in one session. Obama has tanked the automotive stocks, the financials, the coal stocks, the oil stocks, the infrastructure stocks, the alternative energy stocks, an now the health care and medical research stocks. But Obama could continue to do this indefinitely. He could start a whole new round of selling on Monday and drive stock values down another 20% in just two or three weeks.

As we said before our analysis showed that this week (today) is when either the window for being long in stocks will slam closed or we will begin to see it open up again. What has complicated that analysis is that the decision to possibly sell out occurs just when the market is extremely oversold. Usually times when the market is oversold are technically good buying opportunities but the apparent perceived competence level of Obama and his advisors has all the financial markets and all the market sectors trembling with fear. And today President Obama will speak again. What he says will either begin the next rally or will probably have the market collapsing in free-fall next week.

In light of what President Obama has accomplished in economics to date it would only be fair to give Attila the Hun a second chance to redeem himself. Attila believed in the redistribution of wealth too. He observed that the Romans had acquired vast wealth and had selfishly kept it to themselves and did not share much of it with the Vandal Tribes that had great needs for educational opportunities, homes, and medical care. Instead the Roman welfare system only provided the illegal immagrant Vandals with food, jobs, and land. Attila started as a community activist beheading and stealing from just a few when he started his career and became a great and vastly popular leader. He was one of the great socialists of his time and redistributed the vast undeserved and obscene wealth of the Romans to the poor and down trodden.

In retrospect the only poor and down trodden people that Attila helped were the Vandal tribes that followed him. He was their messiah of the underprivileged. But he did not help the poor and down trodden of other ethnic and racial backgrounds, just the hoodlums who helped him as he systematically sacked Rome. So grieved were his followers when Attila died that many of them cut off one of their own ears to show their love and affection for their messiah. Attila brought economic and educational equality to the Roman Empire. The Romans became as poor as the Vandals and education advanced into the period now called the Dark Ages. The great socialists such as Attila the Hun, Hitler, Lenin, Mao, and Stalin invariably can rise to power because they and their followers slaughter and eat the geese that lay the golden eggs. And when they run out of domestic geese they survive by invading their neighbors and eating their geese too. The origin of our word vandalism goes back to the great socialist experiment started by Attila the Hun.

Does President Obama aspire to become a great socialist too? Today, February 27, 2009, he will talk and the stock market will interpret his capitalist or socialist intentions.


Market Outlook

The broader market indices continue their white-knuckled hold at what could be a rocky bottom or just the edge of a cliff. The recent stock market behavior could support a major advance if it continues upward today. The oversold American stock markets dropped again yesterday and the futures for today indicate a weak opening. It looks like a critical day for the market and perhaps President Obama's last chance to stop an all out stock market collapse next week.

Last night Asian markets were down with China down 1.8%, India down 0.7% but Japan up 1.5%. Hong Kong was down 0.7%.

At this moment most European markets are down 2.5% to 3.3%. Perhaps socialist Europeans recognize the current administration as one of their kind.