Three strikes against the loony-left and environmentalist stupidity and fraud.

The first strike against environmentalist fraud is the admission in England that the hockey stick rapid increase in global warming was a fraud. Since 1995 there has been no statistically significant warming of earth.

President Obama finally realizes that the cleanest and most abundant source of energy is nuclear energy... strike two. The first new nuclear powerplant since hapless Jimmy Carter who turned out to be almost as smart as Al Gore as environmentalists go. Obama even mentioned natural gas last week the cleanest hydrocarbon fuel that the wacko environmentalists love to hate almost as much as they hate clean abundant nuclear energy. The loony tune environmentalists are basically socialists and communists who want to make the free market private enterprise nations look as dull, incompetent, and hazardous as the communists did before their socialism imploded.

The third big strike is from big business with Caterpillar and three oil companies quitting the human global warming and scientific fraud coalition. Environmentalist morons will hopefully fill the places on the unemployment lines and let more competent and intelligent workers go back to the jobs they lost due to the environmentalist morons. By the way I am an environmentalist of the kind who think scientific work should be truthful not fabricated to substantiate a fantasy. Environmentalist stupidity and fraud has undermined the credibility of all science.

World Outlook

Taliban retreat as US forces drive them out of southern Afghanistan where they have little cover to retreat to. The American drive hit before weather improved to facilitate the escape of the Taliban. The initial forces are there to remove the Taliban.

European Union officials apparently have known that Greece used derivatives to conceal its growing budget deficit. Company bond sales are declining over concern that the inability of European governments to trim their budget deficits will threaten a global recovery.

The shock of China tightening credit is nothing compared to what the US will feel when the FED tightens. China was down slightly but Asian markets advanced over night. The value of mining mergers and acquisitions may more than double this year, snapping a two-year decline, as China seeks to secure supplies of raw materials

Week of Market Reports:
Faster-than-estimated growth in New York manufacturing spurred optimism the global economic recovery will be sustained. Commodities rallied, with oil jumping the most in four months.
Housing Market Index
The Housing Market Index moved up in February, but chronic mortgage foreclosures suggest tepid gains in home construction in the quarters ahead.

Wednesday, Feb. 17:
New Housing starts 8:30 AM
Industrial Prod. 9:15 AM
FOMC minutes 2 PM

Thursday, Feb. 18:
Unemployment claims 8:30 AM
Producer Price Index 8:30 AM
Leading Economic Index 10 AM

Friday, Feb. 19:
Consumer Price Index 8:30 AM


Market forces Feb 17, 2010
The stock markets had their best day in three months. Warning; when the market rises close to the next high (in 2 to 4 months) it will likely be critical time to take profits because FED tightening will likely be occurring soon after. After the next high point the subsequent decline will likely break the old October 30 lows and challenge even the July 2009 low.

Our corrected NYSE cash flow index gave its Head & Shoulder neck breakdown sell signal on Jan 29 when the NYSE (corrected for trading volume) broke through the neckline of a head and shoulders formation and it plunged about 3% below. But that signal has a long lead time which allows us to know what is likely two or three months in advance. The reason we cannot do a Market Cash Flow Analysis (MCFA) of the other exchanges is because they use the NYSE volume; they no longer use a real stock volume.

Asian markets were up over night; Shanghai up 1.1%, Hong Kong down -1.3%, India up 1.3%, and Japan up 2.7%.

European markets are up in the range from 0.9% to +1.9% this morning about half way through their day.

Today US pre-market futures are again up about 0.3% at 8:30 AM EST. It is seldom a good indicator of what will happen.

John Deere profit beat estimates as material costs dropped; 2010 forecast raised. Yesterday many stocks gapped upward. We expect that will be an excuse some talking heads use to cover their mistakes three months from now when we estimate the market will decline.