Mediocre students do not challenge their teacher's beliefs when they are bombarded with the lunacy of the left. They lack the ability of critical thinking. Of course the smart students are smart enough not to let their professor know they think their professor is a raving lunatic. Smart students leave rabid dogs lie but privately apply critical thinking skills to deflect detection and to produce cogent intelligent reports that the lunatic professors either grade highly (fairly) or grade poorly at their own risk. There are honest intelligent faculty members at most universities who will stand up for smart students who the lunatic intellectually corrupt leftists have unfairly graded. But smart students only report the lunatic left professors confidentially and let the faculty give the lunatic leftists the boot in due time. President Obama apparently was a mediocre student and swallowed the leftist lunacy hook, line, and sinker. Like the ancient Mayan's, the leftists believe human sacrifices are needed to appease the climate gods.
World Outlook
Stocks rose this week on very low volume that generally means the investors are not optimistic. China continues to show signs of a fracturing façade. They are acting hostile over The US sales of defensive weapons to Taiwan. A few of their banks were downgraded by rating agencies. Some of their stocks have been tumbling over night.
All US stocks dependent on China will likely be much more adversely affected by China's cooling off period than China itself will be effected.
Coming Week of Market Reports:
Date Time (ET) Statistic When Actual Forecast MktExpects Last RevisedFrom
Feb 1 8:30 AM Personal Income Dec 0.4% 0.2% 0.3% 0.5% 0.4%
Feb 1 8:30 AM Personal Spending Dec 0.2% 0.0% 0.3% 0.7% 0.5%
Feb 1 10:00 AM Constr Spend Dec -1.2% -0.5% -0.5% -0.6%- -0.6%
Feb 1 10:00 AM ISM Index Jan 58.4 56.1 55.5 55.9
Feb 2 10:00 AM Pend Hm Sales Dec 1.0% -3.2% 1.1% -16.4% -16.0%
Half the small improvement in pending home sales was accomplished by revising the last report down 0.4%
Feb 3 7:30 AM Challeng Job Cuts Jan -70.9% 72.9%
Feb 3 8:15 AM ADP Employ Cng Jan -22K -60K -40K -84K
Good news- Companies in the U.S. cut an estimated 22,000 jobs in January, in line with forecasts, according to data from a private report based on payrolls.
Feb 3 10:00 AM ISM Services Jan 51.2 50.9 50.1
Feb 3 10:30 AM Crude Inventories 1/29 -3.89M
Feb 4 8:30 AM Initial Claims 01/30 460K 454K 470K
Feb 4 8:30 AM Continuing Claims 01/30 4550K 4600K 4602K
Feb 4 8:30 AM Productivity-Prel Q4 6.2% 6.0% 8.1%
Feb 4 8:30 AM Unit Labor Costs - Q4 -2.0% -2.5% -2.5%
Feb 4 10:00 AM Factory Orders Dec 0.1% 0.6% 1.1%
Feb 5 8:30 AM Nonfarm Payrolls Jan -40K 13K -85K
Feb 5 8:30 AM Unemploy Rate Jan 10.1% 10.0% 10.0%
Feb 5 8:30 AM Avg Workweek Jan 33.2 33.2 33.2
Feb 5 8:30 AM Hourly Earnings Jan 0.2% 0.2% 0.2%
Feb 5 3:00 PM Consumer Credit Dec -$12.3B -$9.5B -$17.5B -
Market forces Feb 3, 2010
Commercial real estate failures seem to be about ready to surge. The Wall Street Journal ran a story this morning where the investors lost everything in commercial real estate investment. We remain 65% out of the market but are setting price targets for buying. The NYSE (corrected for trading volume) broke through the neckline of a head and shoulders sell signal. The raw NYSE (not corrected for trading volume) still has 5.2% to fall yet before giving a sell signal. For that reason we expect the market can decline and then rally close to previous highs and thus mislead most investors into thinking that the selling is over. Then we expect another decline followed by a lateral market movement and a net decline through November elections.
Asian markets were up over night; Shanghai up 2.3%, Hong Kong up 2.2%, India up 2.1, and Japan up 0.3%.
European markets are down with the average in a range from -0.1% to -0.3% this morning about half way through their day.
US pre-market futures are down about -0.3% today at 9 AM EST.
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