World Outlook
The Obama administration incompetence and leftist agenda seen around the world is difficult to understand. Remember the four Americans transporting supplies for a catering company when they were ambushed and killed by terrorists in Fallujah? You know... the ones the Iraq insurgents burned and dragged through Fallujah? Remember they hanged two of the bodies on a bridge over the Euphrates River for the world press to photograph? That Fallujah atrocity came to symbolize the sadistic brutality of the Muslim terrorists in Iraq. Well the Muslim terrorist ring leader in charge, Ahmed Hashim Abed, whom the military code-named "Objective Amber", was finally captured in September. He told investigators his captors, three American Navy Seals, bloodied his lip. Obama now has the three Navy Seals up for court marshal.
The Obama administration has delayed the Afghan deployment decision but has already released the information on the U.S. troop surge target area in the Afghan Muslim Taliban bastion around Kandahar. That is to be considerate and allow the Muslim Taliban sadists to move out in time and kill and terrorize someplace else.
Where has Obama left his mind? Can anybody find it for him?
Market Outlook:
Russians hacking into a British University and exposing the data manipulation of the corrupt environmental scientists have exposed the European leftist cap-n-trade fraud. The corrupt scientists claim it is man and not the normal warming after each ice age that is the cause the warming after the last ice age 15000 years ago. But if that were true why did it warm up and the ocean rise after the previous nine ice ages known to have occurred before man existed? Duhhhh. Until the leftist Obama Administration came into power, America, Russia, and China tried to keep science uncorrupted. The democrat administration of President Clinton was actually the first to reject the corrupt environmental Kyoto agreement, and President Bush then tried to keep American science free of corruption. But the EPA and some in NASA are destroying science in America with this Euro-leftist scam by going along and corrupting the data they collect.
For that reason solar and alternative energy corporations of today are likely to eventually go bankrupt when this singular leftist administration leaves office. And that is a shame because most people know it is important to preserve the environment and conserve energy. But our argument for conservation has been tarnished and discredited now by Obama's loony socialist left supporters.
This week:
Existing Home Sales were up over 10%.
The government revised its estimate of third quarter GDP to 2.8% growth from its initial 3.5% figure. The Conference Board's November consumer confidence index was up slightly but not as much as investors hoped. The final November figure of the Reuters-University of Michigan consumer confidence index is due next. Home Price Index in 20 U.S. cities probably indicated it might have bottomed.
Today, Wednesday, Nov 25:
Spending by U.S. consumers rebounded in October more than anticipated an indication that mounting unemployment has yet to stifle American’s willingness to buy.
U.S. Initial Jobless Claims fell to 466,000, the lowest since September 2008.
Orders for goods meant to last several years unexpectedly fell in October, restrained by a drop in demand for defense equipment and a reminder the economic recovery will be slow to gain speed.
New Home Sales ??
Thursday, Closed
Market forces November 25
We estimate the NYSE must still rise 2.9% from yesterday's close to be interpreted as a continuing rally not a declining head and shoulder sell signal. That reflects both the price change and volume of shares being traded. In any event after a possible Santa-Claus rally a normal -3% to -5% downward correction would be due… so it is still wise to take profits were possible. If the head and shoulders formation is confirmed then the correction could be closer to -10% to -15%. Asian markets appear to have entered into a limited price range period and America may soon do the same. Corruption and leftist incompetence is driving the popularity of the Obama administration lower by the day. Having the socialists and loony left in power in America is a constant threat to American freedoms, scientific integrity, and free enterprise.
Asian markets were up last night; China up 2.1%, Hong Kong up 0.8%, India up 0.4%, Japan up 0.4%, Seoul up 0.3%and Taiwan up 0.4%.
European markets are up with the average in a range from +0.9% to +1.1% this morning about half way through their day.
US pre-market futures are up about +0.4% today at 9:00 AM EST.
It is important to be able to take stock profits before January if the broader market of the NYSE does not set a new high at least 2.9% above yesterday's closing price and on above average volume. The DOW is up but the DOW is where money goes when the market is shaky. We would even consider getting retirement investments on the sidelines under those conditions.
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