Obama said his administration monitored and approved all the BP changes that created the environmental disaster.
The highest-ranking crew member to perish aboard the deepwater Horizon drilling rig warned his family that BP Plc was pressuring him to sacrifice safety for the sake of time and money, his father said. With its reputation destroyed and legal problems mounting, BP has little future. The American people did not believe trial balloons Obama put out such as blaming Bush for this environmental disaster. Finally he said he was responsible and that his federal government environmental administrator of the BP drilling quit her job. He admitted his administration was in charge and has approved every irresponsible decision BP made. That makes Obama responsible for the biggest environmental disaster in the history of the USA. And he will make BP pay for it.
The US stock market was sharply higher… lifted by China's denial that it was mulling sales of holdings in European bonds as GE/MSNBC/Pravda had falsely speculated the day before. After all the major indices bounced off of the lows for a second day stocks surged upward. It was the second best day of this year. It put the week into positive territory with the S&P rising 3% yesterday. Volatility (the fear index) dropped sharply.
GE/MSNBC/Pravda gives the appearance that it is collaborating with the hedge funds and George Soros that fund Obama leftist insiders who manipulate the market to create high volatility but low risk for corrupt insiders.
GE/MSNBC/Pravda provided false positive rumors that give insiders opportunity to dump stocks high last month, and then in the last three weeks they reported extremely irresponsible negative rumors as if they were true news to create the impression Europe was about to collapse. Is this corrupt reporting of news a special service GE/MSNBC/Pravda provides their advertisers and their friends like George Soros? How can one explain Jim Cramer yesterday telling listeners to continue selling at this "high" when the market is obviously at its low and investors should not be selling at the low? Is Jim incompetent, irresponsible, or is he corrupt?
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 26 9974
Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
World Markets:
Developing-nation stocks rose, sending the MSCI Emerging Markets Index to its biggest three-day gain in a year, as concerns over Europe’s debt crisis eased and companies reported a stronger profit outlook.
The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe for now the market decline is spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from here.
Economic Calendar
Last Week
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
The economic news since last week has been good but GE/MSNBC/Pravda knuckleheads have been political and spun the news highly negative to take the Obama disaster out of the spotlight.
The Case-Shiller 20-city Index for Mar home prices leaped 2.4% after increasing 0.7% the month before.
Consumer Confidence for May rose to 63.3 from 57.7 the month before.
The FHFA (stressed) Housing Price Index Mar rose 0.3% showing that housing prices are increasing and more homeowners are getting their heads above water.
New Home Sales Apr: Revisions to the data make the data look worse. They revised last months New Homes Sales upward by 28,000. New Home Sales would have been up 92,000 from last month but by quietly raising the March figure the increase is only $64,000. But if they increased March by borrowing from April the increase could actually be 120,000 for the total new home sales of 536,000. If these adjustments to the data are intended to deceive as evidenced by their systematic rather than random application then the Obama government is intentionally destabilizing the markets. That is very irresponsible of the Obama administration or stupid. It is though Obama is actively trying to create a great depression with one disaster after another.
Durable Orders Apr: rose a spectacular 2.9%. Again the data for last month was quietly improved (by 1.2%) after it was announced such that this months gain was minimized.
Durable Orders ex Transportation Apr were also manipulated downward by correcting last month's figures upward by 1.3%.
Crude Inventories 05/22 were reported at 2.46M, again a pessimistically large change with last weeks number reported erroneously low (off by a decimal place). This is perhaps an unintentional reporting error since it is so large.
Yesterday
Initial claims 05/22; Weekly jobless claims dropped by 14,000 to 460,000
Continuing Claims 05/22; declined 1% from a corrected 4656K to 4607K
GDP - Second Estimate Q1, The U.S. economy grew briskly in the first quarter, but its pace was a little weaker than originally thought, according to the government, which revised consumer and business spending lower. Gross domestic product increased by a 3.0% annual rate January through March, the Commerce Department said Thursday. In the government's original report on first quarter GDP a month ago, it estimated an increase of 3.2%.
The data also showed corporate profits picking up. After-tax earnings climbed 9.7%, better than 8.2% during the fourth quarter. Year-over-year, profits were 42.7% higher, as the economy recovers from its deep recession and unemployment remains elevated.
The GDP Deflator - Second Estimate Q1 increased 1% which is an estimate of the current inflation rate.
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 28, 2010
The market experienced a strong bounce off of the Feb 8 lows creating the neckline for a likely head-and-shoulders formation for the raw price indices. It looks like smooth sailing for at least 6weeks.
World Markets
Asian markets were up despite tension with N. Korea. Shanghai unchanged, Hong Kong up 1.7%, India up 1.2%, and Japan up 1.3%.
Today the European markets are up in the range from 0.4% to 0.6% this morning about half way through their day.
US pre-market futures are up before the start by about 0.2%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Friday, May 28, 2010
Thursday, May 27, 2010
US market resistance levels have held up. Market ready to surge upward.
US market resistance levels have held up. Market ready to surge upward.
Barton Biggs (who runs New York-based hedge fund Traxis Partners LP) says u.s. stock markets oversold, set for `big pop' in coming days.
Dan Fuss, whose Loomis Sayles Bond Fund beat 95 percent of competitors the past year, said he sold all of his Treasury holdings because of prospects interest rates will rise as the U.S. borrows unprecedented amounts.
Oil futures and crude soar on oil demand. Crude futures also jumped as a government report showed stable refined product inventories and rising demand.
Sales of new homes in us jumped in April to the highest level in two years as buyers rushed to qualify for a government tax credit before it expired at the end of the month.
Geithner said the EU actions would be effective and should calm markets.
The OEDC raised its growth forecasts for this year and next as emerging nations rebound.
All the major indices bounced off of the lows of yesterday and closed above the Feb 8 close. Had this market been ready for a reversal of the bull market it would have plummeted through the lows of last fall.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 26 close 1068
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6835 May 26 6631 (new method not valid)
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 26 44.2
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 26 9974
10000 are not the Dow's last cyclic low close. The resistance level is 9908 not 10000
Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
Feb 8 close 2125 May 26 close 2196
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to do real work. In the end production was so low under international socialism (communism) the stores were all empty and America had to send them food to prevent starvation.
World Markets:
The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
The economic news since last week has been good but GE/MSNBC/Pravda knuckleheads have been political and spin the news highly negative to take the Obama disaster out of the spotlight.
The Case-Shiller 20-city Index for Mar home prices leaped 2.4% after increasing 0.7% the month before.
Consumer Confidence for May rose to 63.3 from 57.7 the month before.
The FHFA (stressed) Housing Price Index Mar rose 0.3% showing that housing prices are increasing and more homeowners are getting their heads above water.
Yesterday
New Home Sales Apr: The results are excellent even though revisions to the March data make the April data look worse than it is. They revised last months New Homes Sales upward by 28,000. New Home Sales would have been up 92,000 from last month but by quietly raising the March figure the increase is only an excellent 64,000. But if they increased March by borrowing from April the increase could actually be 120,000 for the total new home sales of 536,000. If these adjustments to the data are intended to deceive as evidenced by their systematic rather than random application then the Obama government is intentionally trying to cause the markets to decline. That is very irresponsible of the Obama administration or stupid. It is as though Obama is actively trying to create a great depression with one administration disaster after another.
Durable Orders Apr: rose a spectacular 2.9%. Again the data for last month was quietly raised(by 1.2%) after it was announced so that this months gain was made to appear smaller than it is.
Durable Orders ex Transportation Apr were also manipulated downward by correcting last month's figures upward by 1.3%.
Crude Inventories 05/22 were reported at 2.46M, again a pessimistically large change with last weeks number reported erroneously low (off by one full decimal place). This is perhaps an unintentional reporting error since it is so large (in fact ten times too large).
May 27 Weekly jobless claims dropped 14,000 to 460,000... Great news
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 27, 2010
All the American indicators rose during the day and then settled back to their resistance levels at the close. It is as though the market makers want to reinforce these resistance levels in our minds. We will call that to your attention again in the future.
Volume surged as the market lifted off in its early hours and all the indicator critical necklines held as evidenced by the fact that the financial institutions would have sold off if the resistance was broken.
World Markets
Asian markets were up despite Hilary/Obama fighting with N. Korea. Shanghai up 1.2%, Hong Kong up 1.2%, India up 1.8%, and Japan up 1.2%.
European markets are up sharply as the Euro stabilized. Today the European markets are up in the range from 1.9% to 2.4% this morning about half way through their day.
US pre-market futures are up before the start by about 1.9% to 2.4%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins. We should finally see this next leg.
Barton Biggs (who runs New York-based hedge fund Traxis Partners LP) says u.s. stock markets oversold, set for `big pop' in coming days.
Dan Fuss, whose Loomis Sayles Bond Fund beat 95 percent of competitors the past year, said he sold all of his Treasury holdings because of prospects interest rates will rise as the U.S. borrows unprecedented amounts.
Oil futures and crude soar on oil demand. Crude futures also jumped as a government report showed stable refined product inventories and rising demand.
Sales of new homes in us jumped in April to the highest level in two years as buyers rushed to qualify for a government tax credit before it expired at the end of the month.
Geithner said the EU actions would be effective and should calm markets.
The OEDC raised its growth forecasts for this year and next as emerging nations rebound.
All the major indices bounced off of the lows of yesterday and closed above the Feb 8 close. Had this market been ready for a reversal of the bull market it would have plummeted through the lows of last fall.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 26 close 1068
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6835 May 26 6631 (new method not valid)
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 26 44.2
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 26 9974
10000 are not the Dow's last cyclic low close. The resistance level is 9908 not 10000
Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
Feb 8 close 2125 May 26 close 2196
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to do real work. In the end production was so low under international socialism (communism) the stores were all empty and America had to send them food to prevent starvation.
World Markets:
The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
The economic news since last week has been good but GE/MSNBC/Pravda knuckleheads have been political and spin the news highly negative to take the Obama disaster out of the spotlight.
The Case-Shiller 20-city Index for Mar home prices leaped 2.4% after increasing 0.7% the month before.
Consumer Confidence for May rose to 63.3 from 57.7 the month before.
The FHFA (stressed) Housing Price Index Mar rose 0.3% showing that housing prices are increasing and more homeowners are getting their heads above water.
Yesterday
New Home Sales Apr: The results are excellent even though revisions to the March data make the April data look worse than it is. They revised last months New Homes Sales upward by 28,000. New Home Sales would have been up 92,000 from last month but by quietly raising the March figure the increase is only an excellent 64,000. But if they increased March by borrowing from April the increase could actually be 120,000 for the total new home sales of 536,000. If these adjustments to the data are intended to deceive as evidenced by their systematic rather than random application then the Obama government is intentionally trying to cause the markets to decline. That is very irresponsible of the Obama administration or stupid. It is as though Obama is actively trying to create a great depression with one administration disaster after another.
Durable Orders Apr: rose a spectacular 2.9%. Again the data for last month was quietly raised(by 1.2%) after it was announced so that this months gain was made to appear smaller than it is.
Durable Orders ex Transportation Apr were also manipulated downward by correcting last month's figures upward by 1.3%.
Crude Inventories 05/22 were reported at 2.46M, again a pessimistically large change with last weeks number reported erroneously low (off by one full decimal place). This is perhaps an unintentional reporting error since it is so large (in fact ten times too large).
May 27 Weekly jobless claims dropped 14,000 to 460,000... Great news
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 27, 2010
All the American indicators rose during the day and then settled back to their resistance levels at the close. It is as though the market makers want to reinforce these resistance levels in our minds. We will call that to your attention again in the future.
Volume surged as the market lifted off in its early hours and all the indicator critical necklines held as evidenced by the fact that the financial institutions would have sold off if the resistance was broken.
World Markets
Asian markets were up despite Hilary/Obama fighting with N. Korea. Shanghai up 1.2%, Hong Kong up 1.2%, India up 1.8%, and Japan up 1.2%.
European markets are up sharply as the Euro stabilized. Today the European markets are up in the range from 1.9% to 2.4% this morning about half way through their day.
US pre-market futures are up before the start by about 1.9% to 2.4%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins. We should finally see this next leg.
Wednesday, May 26, 2010
Bull market resistance levels have held despite GE/MSNBC/Pravda's propaganda attempts to destabilize our markets and shift attention from Obama's pres
Bull market resistance levels have held despite GE/MSNBC/Pravda's propaganda attempts to destabilize our markets and shift attention from Obama's presidential impotence.
The Obama leftists at GE/MSNBC/Pravda risk de-stabilizing world economies by spreading fear and deception about the EU and Greece when Obama's environmental lethargy and wasteful spending is the world's greatest threat. If Bush was responsible for the natural disaster Katrina, then Obama is doubly responsible for approving unsafe oil drilling a week before the greatest environmental disaster in the history of the United States. Obama is an environmental monster spending his time at re-election fundraisers when he should be acting like a president trying to understand and correct the problems the nation faces. Instead North Korea now joins the list of problems the Obama administration has exacerbated. Obama has the inverse Midas touch of turning everything he touches to merd.
The GE/MSNBC/Pravda leftist's fear mongers gave Obama the last election by turning the last recession into a crisis. The leftists are turning every normal issue they face into a new crisis so Obama can hide from the spotlight. Disaster follows Obama everywhere he goes. America should export Obama to N. Korea. He probably can prove he was born there too. He still has not explained how it is he applied to an American college claiming to be a foreign national not an American living in a foreign country. He can prove anything to his adoring loony cadre but Obama makes no sense at all.
The Euro has held its lows now for several days and we expect Euro buyers will drive the Euro back at least to 1.3 dollars within a few more weeks. China was buying Euro's at much higher prices. Europe is not a disaster. Obama is the world's greatest disaster and that is why GE/MSNBC/Pravda leftists are frantically trying to inflate other disasters to draw attention from the ineptitude of the whole Obama administration.
In spite the GE/MSNBC/Pravda leftist's attempt to distract Americans with Greek nickel and dime scare tactics, all the major American stock market indices remain above the resistance levels set on the Feb 8 close. As long as these levels hold we in America are by definition still in a bull market.
All the major indices bounced off of the lows of yesterday and closed above the Feb 8 close. Had this market been ready for a reversal of the bull market it would have plummeted through the lows of last Fall.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 25 close 1074
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 May 25 6667
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 25 44.7
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 25 10043
10000 are not the Dow's last cyclic low close. The resistance level is 9908 not 10000
Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
Feb 8 close 2125 May 25 close 2211
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to do real work. In the end production was so low under international socialism (communism) the stores were all empty and America had to send them food to prevent starvation.
World Markets:
The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
The economic news since last week has been good but GE/MSNBC/Pravda knuckleheads have been political and spin the news highly negative to take the Obama disaster out of the spotlight.
Yesterday
The Case-Shiller 20-city Index for Mar home prices leaped 2.4% after increasing 0.7% the month before.
Consumer Confidence for May rose to 63.3 from 57.7 the month before.
The FHFA (stressed) Housing Price Index Mar rose 0.3% showing that housing prices are increasing and more homeowners are getting their heads above water.
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 26, 2010
Well if you followed this blog you probably got back into the market after the capitulation near the lows. We hope you are happy. For some reason all the comments we see are in computer symbols not the English language. That is why we do not respond.
Volume surged as the market lifted off its early hour low and all the indicator critical necklines held as evidenced by the fact that the financial institutions would have sold off if the levels had given out.
GE/MSNBC/Pravda reporting has reached absurd levels of irrational frenzied fear as they try to divert attention from Obama's spending spree, and his failure to take responsibility for the oil rig accident consistent with the way he said Bush had to take responsibility for the natural disaster Katrina. Obama and the democrat-socialists were of course absurd blaming bush for the ineptitude of the democrat-socialists who control that region. And the democrat-socialist civil servants that fled the city and left the people without bus drivers to get the people out. The only democrat-socialists who stayed were the ones stealing Cadillacs from the abandoned dealerships. Those are of course the Obama supporting majority, the permanent voting underclass majority Obama is trying to create.
The final market capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks.
World Markets
Asian markets were up despite Hilary/Obama fighting with N. Korea. Shanghai up 0.1%, Hong Kong up 1.1%, India up 2.3%, and Japan up 0.7%.
European markets are up sharply as the Euro stabilized. Today the European markets are up in the range from 2.3% to 2.9% this morning about half way through their day.
US pre-market futures are up before the start by about 1%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins. We should finally see this next leg.
The Obama leftists at GE/MSNBC/Pravda risk de-stabilizing world economies by spreading fear and deception about the EU and Greece when Obama's environmental lethargy and wasteful spending is the world's greatest threat. If Bush was responsible for the natural disaster Katrina, then Obama is doubly responsible for approving unsafe oil drilling a week before the greatest environmental disaster in the history of the United States. Obama is an environmental monster spending his time at re-election fundraisers when he should be acting like a president trying to understand and correct the problems the nation faces. Instead North Korea now joins the list of problems the Obama administration has exacerbated. Obama has the inverse Midas touch of turning everything he touches to merd.
The GE/MSNBC/Pravda leftist's fear mongers gave Obama the last election by turning the last recession into a crisis. The leftists are turning every normal issue they face into a new crisis so Obama can hide from the spotlight. Disaster follows Obama everywhere he goes. America should export Obama to N. Korea. He probably can prove he was born there too. He still has not explained how it is he applied to an American college claiming to be a foreign national not an American living in a foreign country. He can prove anything to his adoring loony cadre but Obama makes no sense at all.
The Euro has held its lows now for several days and we expect Euro buyers will drive the Euro back at least to 1.3 dollars within a few more weeks. China was buying Euro's at much higher prices. Europe is not a disaster. Obama is the world's greatest disaster and that is why GE/MSNBC/Pravda leftists are frantically trying to inflate other disasters to draw attention from the ineptitude of the whole Obama administration.
In spite the GE/MSNBC/Pravda leftist's attempt to distract Americans with Greek nickel and dime scare tactics, all the major American stock market indices remain above the resistance levels set on the Feb 8 close. As long as these levels hold we in America are by definition still in a bull market.
All the major indices bounced off of the lows of yesterday and closed above the Feb 8 close. Had this market been ready for a reversal of the bull market it would have plummeted through the lows of last Fall.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 25 close 1074
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 May 25 6667
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 25 44.7
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 25 10043
10000 are not the Dow's last cyclic low close. The resistance level is 9908 not 10000
Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off
Feb 8 close 2125 May 25 close 2211
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to do real work. In the end production was so low under international socialism (communism) the stores were all empty and America had to send them food to prevent starvation.
World Markets:
The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
The economic news since last week has been good but GE/MSNBC/Pravda knuckleheads have been political and spin the news highly negative to take the Obama disaster out of the spotlight.
Yesterday
The Case-Shiller 20-city Index for Mar home prices leaped 2.4% after increasing 0.7% the month before.
Consumer Confidence for May rose to 63.3 from 57.7 the month before.
The FHFA (stressed) Housing Price Index Mar rose 0.3% showing that housing prices are increasing and more homeowners are getting their heads above water.
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 26, 2010
Well if you followed this blog you probably got back into the market after the capitulation near the lows. We hope you are happy. For some reason all the comments we see are in computer symbols not the English language. That is why we do not respond.
Volume surged as the market lifted off its early hour low and all the indicator critical necklines held as evidenced by the fact that the financial institutions would have sold off if the levels had given out.
GE/MSNBC/Pravda reporting has reached absurd levels of irrational frenzied fear as they try to divert attention from Obama's spending spree, and his failure to take responsibility for the oil rig accident consistent with the way he said Bush had to take responsibility for the natural disaster Katrina. Obama and the democrat-socialists were of course absurd blaming bush for the ineptitude of the democrat-socialists who control that region. And the democrat-socialist civil servants that fled the city and left the people without bus drivers to get the people out. The only democrat-socialists who stayed were the ones stealing Cadillacs from the abandoned dealerships. Those are of course the Obama supporting majority, the permanent voting underclass majority Obama is trying to create.
The final market capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks.
World Markets
Asian markets were up despite Hilary/Obama fighting with N. Korea. Shanghai up 0.1%, Hong Kong up 1.1%, India up 2.3%, and Japan up 0.7%.
European markets are up sharply as the Euro stabilized. Today the European markets are up in the range from 2.3% to 2.9% this morning about half way through their day.
US pre-market futures are up before the start by about 1%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins. We should finally see this next leg.
Tuesday, May 25, 2010
Bull market resistance levels have not been shattered by GE/MSNBC/Pravda's apparent attempts to destabilize our markets and shift blame from Obama to
Bull market resistance levels have not been shattered by GE/MSNBC/Pravda's apparent attempts to destabilize our markets and shift blame from Obama to the Greeks.
The Obama leftists at GE/MSNBC/Pravda risk de-stabilizing world economies by spreading lies and deception about the EU and Greece when Obama's wasteful spending is the world's greatest threat.
At about $250 Billion, the Greek debt is but a drop in the bucket compared with the $13Trillion debt that Obama plans to run up if he and his left-wing Congress are not removed by 2012. And yet the Obama supporting leftists at GE/MSNBC/Pravda would like to pass the blame to the Greeks.
Cutbacks of government jobs are needed now in the USA at State and federal levels. The Obama program that preserves do-nothing state, and federal jobs and other waste is crippling us. We would be much better off cutting the high paid pretend-work government jobs and have them instead collecting unemployment checks and looking for real jobs.
Most of you who know any state and federal workers know that is true. You know government pretend-workers take pride in how little they do, how much they are paid, how much more secure their job is than yours is, and how much they will get in retirement. Their unions just like the Greek unions take pride in how much they get for how little they do. Government workers are the leftist's biggest solid voting block and that is why the leftists protect their pilfering of our national treasury. Under Communism everyone has to be a government worker supporting the party or they have no job. That is the direction the Obama leftists are moving America. Americans need to stop them
In spite the GE/MSNBC/Pravda leftist's attempt to distract Americans with Greek nickel and dime scare tactics, all the major American stock market indices remain above the resistance levels set on the Feb 8 close. As long as these levels hold we in America are by definition still in a bull market.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 24 close 1086
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 May 24 6775
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 24 46.86
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 24 10066
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to work. In the end production was so low the stores were all empty and America had to send them food to prevent starvation.
World Markets:
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from here.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Yesterday
10:00 AM Existing Home Sales Apr
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
May 25
9:00 AM Case-Shiller 20-city Index Mar
10:00 AM Consumer Confidence May
10:00 AM FHFA Housing Price Index Mar
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 25, 2010
The selling pressure dried up yesterday with a 35% fall-off in trade volume.
The Greek debt is rationalization by the MSNBC/Pravda reporters to divert attention from the debts Obama is running up. The real reason for the market drop is technical and relates to profit taking since the market rose more than 70% at such a fast pace. We can see that profit taking action beginning to dry up now. The next time there is profit-taking GE/MSNBC/Pravda will probably blame on the California deficit (a Republican governor) or whatever happens to be available to MSNBC/Pravda at the time. We find rationalization is all MSNBC/Pravda and Jim Cramer can do and they spin whatever works as a possible explanation. But blaming it on a little third world corrupt unionized country is about as feeble a rationalization as we have ever seen.
IBM agrees to buy AT&T's Sterling Commerce for $1.4B. Credit is available and not shutting down as the liars at GE/MSNBC/Pravda would have us believe.
The final market capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks.
World Markets
Asian markets were down as South Korea and Hilary squared off with N. Korea and the Euro falls last night. Shanghai down 1.9%, Hong Kong down 3.5%, India down 2.7%, and Japan down 3.1%.
European markets are down as South Korea and Hilary squared off with N. Korea and the Euro falls. Today the European markets are in the range from -2% to -3% this morning about half way through their day.
US pre-market futures are recovering this morning from lows of about -2%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday was spent recovering until a sell-off in the last hour.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins.
The Obama leftists at GE/MSNBC/Pravda risk de-stabilizing world economies by spreading lies and deception about the EU and Greece when Obama's wasteful spending is the world's greatest threat.
At about $250 Billion, the Greek debt is but a drop in the bucket compared with the $13Trillion debt that Obama plans to run up if he and his left-wing Congress are not removed by 2012. And yet the Obama supporting leftists at GE/MSNBC/Pravda would like to pass the blame to the Greeks.
Cutbacks of government jobs are needed now in the USA at State and federal levels. The Obama program that preserves do-nothing state, and federal jobs and other waste is crippling us. We would be much better off cutting the high paid pretend-work government jobs and have them instead collecting unemployment checks and looking for real jobs.
Most of you who know any state and federal workers know that is true. You know government pretend-workers take pride in how little they do, how much they are paid, how much more secure their job is than yours is, and how much they will get in retirement. Their unions just like the Greek unions take pride in how much they get for how little they do. Government workers are the leftist's biggest solid voting block and that is why the leftists protect their pilfering of our national treasury. Under Communism everyone has to be a government worker supporting the party or they have no job. That is the direction the Obama leftists are moving America. Americans need to stop them
In spite the GE/MSNBC/Pravda leftist's attempt to distract Americans with Greek nickel and dime scare tactics, all the major American stock market indices remain above the resistance levels set on the Feb 8 close. As long as these levels hold we in America are by definition still in a bull market.
Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Feb 8 close 1056 May 24 close 1086
The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 May 24 6775
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 May 24 46.86
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 24 10066
American's should not be afraid of Greek socialists. We need to get rid of our own leftists and cut government "pretend" jobs. When the East Germans were liberated from Communism they revealed that the communist government pretended to give them real jobs and they pretended to work. In the end production was so low the stores were all empty and America had to send them food to prevent starvation.
World Markets:
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from here.
Economic Calendar
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
This week:
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
Yesterday
10:00 AM Existing Home Sales Apr
Sales of previously owned US homes rose by 7.6% in April to a five-month high of 5.77 million, according to the industry body the National Association of Realtors. Continued extensions of the tax rebate appear to be working. This rebate was the most successful so far.
May 25
9:00 AM Case-Shiller 20-city Index Mar
10:00 AM Consumer Confidence May
10:00 AM FHFA Housing Price Index Mar
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 25, 2010
The selling pressure dried up yesterday with a 35% fall-off in trade volume.
The Greek debt is rationalization by the MSNBC/Pravda reporters to divert attention from the debts Obama is running up. The real reason for the market drop is technical and relates to profit taking since the market rose more than 70% at such a fast pace. We can see that profit taking action beginning to dry up now. The next time there is profit-taking GE/MSNBC/Pravda will probably blame on the California deficit (a Republican governor) or whatever happens to be available to MSNBC/Pravda at the time. We find rationalization is all MSNBC/Pravda and Jim Cramer can do and they spin whatever works as a possible explanation. But blaming it on a little third world corrupt unionized country is about as feeble a rationalization as we have ever seen.
IBM agrees to buy AT&T's Sterling Commerce for $1.4B. Credit is available and not shutting down as the liars at GE/MSNBC/Pravda would have us believe.
The final market capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks.
World Markets
Asian markets were down as South Korea and Hilary squared off with N. Korea and the Euro falls last night. Shanghai down 1.9%, Hong Kong down 3.5%, India down 2.7%, and Japan down 3.1%.
European markets are down as South Korea and Hilary squared off with N. Korea and the Euro falls. Today the European markets are in the range from -2% to -3% this morning about half way through their day.
US pre-market futures are recovering this morning from lows of about -2%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday was spent recovering until a sell-off in the last hour.
Panic selling at market lows is unfortunately the rule rather than the exception. That is why the capitulation occurs. Once those who panic are out of the market the next leg of the advance begins.
Monday, May 24, 2010
The Chinese people show great wisdom and could become a great free intelligent society.
The Chinese people show great wisdom and could become a great free intelligent society.
America is a great free society but is not necessarily an intelligent society anymore. President Hu Jintao reported that China will move gradually and independently in making changes to the nation’s exchange-rate mechanism as talks with the U.S. opened in Beijing today. China is learning quickly that the future is purchased with free outside-of-the-box thinking that free enterprise encourages.
China's intelligence is in its wisdom of watching and learning. China is evolving and knows it must be careful to chose its steps wisely because truths about economic realities and human nature once learned must be built into the fabric of the national culture and not changed in a haphazard manner. At the same time each nation is not an individual but more like a flock of birds or a school of fish that also rely on the intelligence of each other. If one sees a food source, then the others change direction quickly to follow it. It is our hope that China will grow to realize that liberty is all about the increase in group intelligence that is released with the liberty of each bird. Birds, fish, and people flock together because it is the intelligent thing to do and we evolved that way because nature rewarded hard work, genuine love of our fellow men, and respect for leadership and intelligent thinking. America is a Republic not a democracy. The government is run democratically but the government does not run the economy. Individuals flocking together in businesses and corporations run the economy. The American government is dedicated to the freedoms and principals laid down in our Constitution by our forefathers. Our American Constitution was the first in the world to protect the rights of individuals, minorities, and states while limiting the federal government by dividing the power of the federal government into three independent branches, each selected differently with different terms, different responsibilities, and different purposes. So while under socialism and communism corrupt politicians and lazy unions can repress creative and intelligent thought, in America the government only gets involve with health, safety, corruption, ethics, fraud, crime, monopolistic, and security issues. Here the creative and intelligent are as free the birds to flock to whatever enterprise or opportunity they think best.
The socialists and Communists can survive via copying and piracy and stay within 20 years of the USA if they work hard at it. If the socialists dally as they do in Russia and the formed Soviet block then they will stay 50 years behind the USA. Socialist tribal Africa, aside from the silly cell phone, will remain about 200 years behind because they like to have and do silly things. The Moslem tribal world will decay into an African type tribal oblivion as soon as they run out of oil because their religious leaders are open to the use of cruelty, vindictiveness, spite, genocide, hate, envy, and corruption. The Nazis and the Mullahs are quite similar except the Nazis were much smarter and not as corrupt.
America is a great free society but is not necessarily a great free intelligent society because witness what we just did in just electing the loony left into office right after a dim wit and before that a philanderer.
World Markets:
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from here for about two more months.
Economic Calendar
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
According to a survey by the National Association for Business Economics, the U.S. recovery that began last year will be stronger than previously estimated and the revised estimates will signal a 3.2% growth rate. Purchases of U.S. Existing Homes Probably Increased, Spurred by Tax Credit Sales of U.S. previously owned homes probably rose in April to the highest level in five months as buyers took advantage of the last weeks of a government tax credit, economists said before a report today.
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
This week:
May 24
10:00 AM Existing Home Sales Apr
May 25
9:00 AM Case-Shiller 20-city Index Mar
10:00 AM Consumer Confidence May
10:00 AM FHFA Housing Price Index Mar
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 24, 2010
Was it Aristotle who said, "Buy equities when the blood is running in the streets of Greece and oil in the water of the sea?"
The final capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks. That is why the 150DMA is no more a sell signal now than it was in the panic of October 1987.
There could be six months of going horizontal with big swings. Think about the 1970's for a comparison or perhaps 2004 that started with a selloff and went horizontal for six months. We just had a 14% decline. Had the decline stopped two days ago we would have expected the market to rise now to just about the last high. But with the capitulation we saw, we probably will only recover perhaps 10% of the 15% decline in most markets. If that happens the new high will be considered the second shoulder of a head and shoulder sell signal. Back in 2007 the second shoulder was not seen because the volume adjustment was needed to see it. This means investors will be more bearish than usual as we hit our high point in 4 to 8 weeks.
Gold will now fall under further pressure at home and abroad. In the USA the 18-month slump in Treasury zero-coupon bonds is giving way to rising demand as the rate of inflation falls to a 40-year low. That is not inflation therefore gold prices may fall further than the 20% decline since GE/MSNBC/Pravda's Jim Cramer recently said get out of everything but gold and accidental high dividend stocks. The dancing bears of GE/OBAMA/MSNBC/Pravda are as usual full of bull
Using a new nonsense indicator, GE/OBAMA/MSNBC/Pravda showed was the 150-day moving average that sloped downward the last two days of last week. US Pravda ignorantly applied it wrong. It does not work for computer initiated sell-offs like October 1987 and May 2010. In the panic of 1987 it told you to sell short at the very bottom of the market. That was not too swift then and we believe it is just as stupid now. But the leftist loonies of GE/OBAMA/MSNBC/Pravda never were very bright. It (the 150 DMA) is only a halfway reasonable indicator even under normal times. For example it would have gotten you out of and then spastically back in the market in November 2007 before it gave a late consistent sell signal in mid December 2007 that lasted well beyond the market bottom buying opportunity in March 2009. In fact the 150 DMA gave the sell signal until mid May 2009 after which it gave three false sell signals and finally settled on a bullish position at the high in mid June thus missing 45% of the bull market. The MSNBC leftists are such inept market analysts that perhaps they are part of an Obama leftist conspiracy to discredit the world’s free market system. Obama thinks Obama is so smart yet he didn't even know what a Price Earnings ratio was. Obama also thought that the stock market is just an economic indicator. When Obama took office he and his leftist/communist staff did not even know that stocks and bonds are the primary way non-communist countries raise capital for industry and jobs.
If you followed GE/OBAMA/MSNBC/Pravda you would have bought in at the April high point sold out 15% poorer on May 7 and then invested almost exclusively in Gold on May12 at its peak and subsequently lost another 20%. Jim Cramer gave his viewers a 35% haircut in just over a month.
World Markets
Asian markets settled up last night, Shanghai up 3.5%, Hong Kong up 0.6%, India up 0.2%, and Japan down 0.3%.
European markets are mixed again today in the range from -4% to +0.3% this morning about half way through their day.
US pre-market futures are recovering this morning but were still down slightly by about -0.3% at 9AM. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Friday was another buying opportunity and today we expect the bull market to resume again.
America is a great free society but is not necessarily an intelligent society anymore. President Hu Jintao reported that China will move gradually and independently in making changes to the nation’s exchange-rate mechanism as talks with the U.S. opened in Beijing today. China is learning quickly that the future is purchased with free outside-of-the-box thinking that free enterprise encourages.
China's intelligence is in its wisdom of watching and learning. China is evolving and knows it must be careful to chose its steps wisely because truths about economic realities and human nature once learned must be built into the fabric of the national culture and not changed in a haphazard manner. At the same time each nation is not an individual but more like a flock of birds or a school of fish that also rely on the intelligence of each other. If one sees a food source, then the others change direction quickly to follow it. It is our hope that China will grow to realize that liberty is all about the increase in group intelligence that is released with the liberty of each bird. Birds, fish, and people flock together because it is the intelligent thing to do and we evolved that way because nature rewarded hard work, genuine love of our fellow men, and respect for leadership and intelligent thinking. America is a Republic not a democracy. The government is run democratically but the government does not run the economy. Individuals flocking together in businesses and corporations run the economy. The American government is dedicated to the freedoms and principals laid down in our Constitution by our forefathers. Our American Constitution was the first in the world to protect the rights of individuals, minorities, and states while limiting the federal government by dividing the power of the federal government into three independent branches, each selected differently with different terms, different responsibilities, and different purposes. So while under socialism and communism corrupt politicians and lazy unions can repress creative and intelligent thought, in America the government only gets involve with health, safety, corruption, ethics, fraud, crime, monopolistic, and security issues. Here the creative and intelligent are as free the birds to flock to whatever enterprise or opportunity they think best.
The socialists and Communists can survive via copying and piracy and stay within 20 years of the USA if they work hard at it. If the socialists dally as they do in Russia and the formed Soviet block then they will stay 50 years behind the USA. Socialist tribal Africa, aside from the silly cell phone, will remain about 200 years behind because they like to have and do silly things. The Moslem tribal world will decay into an African type tribal oblivion as soon as they run out of oil because their religious leaders are open to the use of cruelty, vindictiveness, spite, genocide, hate, envy, and corruption. The Nazis and the Mullahs are quite similar except the Nazis were much smarter and not as corrupt.
America is a great free society but is not necessarily a great free intelligent society because witness what we just did in just electing the loony left into office right after a dim wit and before that a philanderer.
World Markets:
Brazil’s Bovespa stock index rallied, rising sharply as real-estate companies and commodity producers climbed after the measure fell to the cheapest level in more than a year. According to Bay Crest Partners LLC, Brazilian stocks are poised to rebound after a key momentum indicator gave the strongest buy signal since the bear- market low in May 2004.
We believe for now the worst of the current market decline is just about spent. Volume spiked up in the capitulation last Thursday. It looks like we had an intermediate double bottom and it is up from here for about two more months.
Economic Calendar
Payrolls increased in 38 states in April, led by Ohio, Pennsylvania and New York, indicating the recovery in the labor market is becoming more broad-based. Federal Reserve Bank of New York President William Dudley said that while the economic recovery is slower than desired he sees the start of substantial growth in employment.
According to a survey by the National Association for Business Economics, the U.S. recovery that began last year will be stronger than previously estimated and the revised estimates will signal a 3.2% growth rate. Purchases of U.S. Existing Homes Probably Increased, Spurred by Tax Credit Sales of U.S. previously owned homes probably rose in April to the highest level in five months as buyers took advantage of the last weeks of a government tax credit, economists said before a report today.
Last Week
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising. The WSJ thinks even 1.62M is a glut, but if that were true the glut is evaporating at a rate that it will be gone in six months. So it seems that even the WSJ had joined GE/OBAMA/MSNBC/Pravda on the negative side thus adding further contrarian evidence that now is the time to buy.
The declining stock market has caused the leading indicators to turn down like a self-fulfilling prophecy.
This week:
May 24
10:00 AM Existing Home Sales Apr
May 25
9:00 AM Case-Shiller 20-city Index Mar
10:00 AM Consumer Confidence May
10:00 AM FHFA Housing Price Index Mar
May 26
8:30 AM Durable Orders Apr
8:30 AM Durable Orders ex Transportation Apr
10:00 AM New Home Sales Apr
10:30 AM Crude Inventories 05/22
May 27
8:30 AM Continuing Claims 05/22
8:30 AM GDP - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM GDP Deflator - Second Estimate Q1
8:30 AM Initial Claims 05/22
8:30 AM Continuing Claims 05/22
May 28
8:30 AM Personal Income Apr
8:30 AM Personal Spending Apr
8:30 AM PCE Prices - Core Apr
9:45 AM Chicago PMI May
9:55 AM U. Michigan Consumer Sentiment May
Market Outlook May 24, 2010
Was it Aristotle who said, "Buy equities when the blood is running in the streets of Greece and oil in the water of the sea?"
The final capitulation last Thursday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. Capitulations are such big disturbances that they render moving averages inaccurate for several weeks. That is why the 150DMA is no more a sell signal now than it was in the panic of October 1987.
There could be six months of going horizontal with big swings. Think about the 1970's for a comparison or perhaps 2004 that started with a selloff and went horizontal for six months. We just had a 14% decline. Had the decline stopped two days ago we would have expected the market to rise now to just about the last high. But with the capitulation we saw, we probably will only recover perhaps 10% of the 15% decline in most markets. If that happens the new high will be considered the second shoulder of a head and shoulder sell signal. Back in 2007 the second shoulder was not seen because the volume adjustment was needed to see it. This means investors will be more bearish than usual as we hit our high point in 4 to 8 weeks.
Gold will now fall under further pressure at home and abroad. In the USA the 18-month slump in Treasury zero-coupon bonds is giving way to rising demand as the rate of inflation falls to a 40-year low. That is not inflation therefore gold prices may fall further than the 20% decline since GE/MSNBC/Pravda's Jim Cramer recently said get out of everything but gold and accidental high dividend stocks. The dancing bears of GE/OBAMA/MSNBC/Pravda are as usual full of bull
Using a new nonsense indicator, GE/OBAMA/MSNBC/Pravda showed was the 150-day moving average that sloped downward the last two days of last week. US Pravda ignorantly applied it wrong. It does not work for computer initiated sell-offs like October 1987 and May 2010. In the panic of 1987 it told you to sell short at the very bottom of the market. That was not too swift then and we believe it is just as stupid now. But the leftist loonies of GE/OBAMA/MSNBC/Pravda never were very bright. It (the 150 DMA) is only a halfway reasonable indicator even under normal times. For example it would have gotten you out of and then spastically back in the market in November 2007 before it gave a late consistent sell signal in mid December 2007 that lasted well beyond the market bottom buying opportunity in March 2009. In fact the 150 DMA gave the sell signal until mid May 2009 after which it gave three false sell signals and finally settled on a bullish position at the high in mid June thus missing 45% of the bull market. The MSNBC leftists are such inept market analysts that perhaps they are part of an Obama leftist conspiracy to discredit the world’s free market system. Obama thinks Obama is so smart yet he didn't even know what a Price Earnings ratio was. Obama also thought that the stock market is just an economic indicator. When Obama took office he and his leftist/communist staff did not even know that stocks and bonds are the primary way non-communist countries raise capital for industry and jobs.
If you followed GE/OBAMA/MSNBC/Pravda you would have bought in at the April high point sold out 15% poorer on May 7 and then invested almost exclusively in Gold on May12 at its peak and subsequently lost another 20%. Jim Cramer gave his viewers a 35% haircut in just over a month.
World Markets
Asian markets settled up last night, Shanghai up 3.5%, Hong Kong up 0.6%, India up 0.2%, and Japan down 0.3%.
European markets are mixed again today in the range from -4% to +0.3% this morning about half way through their day.
US pre-market futures are recovering this morning but were still down slightly by about -0.3% at 9AM. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Friday was another buying opportunity and today we expect the bull market to resume again.
Friday, May 21, 2010
The Stock markets are at or near their support level which is the level of the February 2010 low.
The Stock markets are at or near their support level which is the level of the February 2010 low.
If you recall, at the low we hit in February, Jim Cramer and all of GE/MSNBC/Pravda fools were bullish down to the very bottom capitulation and then turned bearish at the low point just like they are now. They are experts when it comes to money losing advice.
You do not want to be in inverse ETFs in this time period because you may have to hold on and inverse ETFs fall over time. So you would lose over time as well as lose big in the coming market bounce.
Talking heads are panicking today just like we saw on Feb 8 the day before the market began advancing again.
Buy when the blood is running in the streets and oil is in the water.
Jim Cramer has a good informative show. Just don't follow his advice until you do your own study. For instance you should have bought inverse ETFs for gold and silver four hours before he recommended gold. You should buy the regular ETFs about a month after he recommends them so that they have a chance to bottom out.
World Markets:
We believe the worst of the current market decline is just about spent. Volume spiked up in the capitulation yesterday. Yesterday the market hit the recent lows of February. But the data still looks like the next three-month bullish cycle has already begun. Jim Cramer did not claim we had a double bottom instead he is panicking. Since he recommended buying gold this week it has dropped close to 20%. We think it is up from here but only for about two months.
China is in a state of confusion. Since they started buying Euro's and selling dollars the dollar has grown stronger and the EURO has grown weaker. Since they recommended developing countries establish a basket of currencies the basket has gone up in flames. Is Jim Cramer is no longer claiming China will lead us to recovery. We have pointed out the problems in the developing world some time ago. Now we see small cap and developing countries in a good buying range again.
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
Core CPI Apr remained at 0% for the second month in a row. The CPI dropped from +0.1% to -0.1% due to lower food prices. The dollar is becoming stronger and that will damage the balance of trade and result in more imports and more American unemployment that will be deflationary.
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising.
Yesterday:
Continuing Claims were reported at 4625K that is the same as reported the last time. But they revised the last figure up to 4665K so that the new level would appear better by 40K. However idiots on Wall Street forecast a level of 4600K because they shorted the market and want the market to drop further. Those idiots are Jim Cramer's friends and that is why he panics just when it is time to buy.
Initial Claims 05/15 were at 471K compared to 444K the last time or 27K higher. They had revised the last number up by 2K so that people would only think it was 25K higher. However idiots on Wall Street forecast a level of 440K because they shorted the market and want the market to drop further. The idiots therefore se a 31K increase in unemployment. We have the Obama administration that continuously lies to make things better and the idiots on Wall Street who want Jim Cramer and the public to buy high and sell low so Wall Street can fleece them.
Leading Indicators Apr was an Obama screw-up. Last month it was up 1.3% but this time the corrected it up another 0.1% instead of down 0.1% and therefore they turned a 0.1% improvement into a -0.1% loss this time, the first decline since the recovery began. Remember there is an incestuous self-fulfilling prophecy between the stock market and the leading indicators. When the market is going up the LI is increased and therefore bulls get more bullish. The stock market went down 10% so most of the LI drop was due to the stock market decline not because the economy is worse. The liars on WS love the incest because they want you to sell everything right now because they are secretly buying at the low.
Philadelphia Fed: The expansion of the region's manufacturing sector is continuing, according to firms polled for April's Business Outlook Survey. The general activity index increased to 20.2 this month from 18.9 in March.
Market Outlook May 21, 2010
The final capitulation yesterday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. There could be six months of going horizontal with big swings. Think about the 1970's for a comparison or perhaps 2004 that started with a selloff and went horizontal for six months. We just had a 14% decline. Had the decline stopped two days ago we would have expected the market to rise now to just about the last high. But with the capitulation we saw, we probably will only recover perhaps 10% of the 15% decline in most markets.
The markets yesterday tested investor risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets settled down last night, Shanghai up 1.1%, Hong Kong down -0.2%, India down -0.4%, and Japan down -2.4%.
European markets are down again today in the range from -2% to -2.2% this morning about half way through their day. Obama wants America to be more like the communists and socialists in Europe and pay people for not working because he believes indigents have a valid life style and should be fed, clothed, and housed because they are humans and entitled to it. There is no incentive to work unless you call rioting and protesting cuts a legitimate form of work.
US pre-market futures are down this morning by about -0.7% just like yesterday. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it was another buying opportunity and today it says this morning there is still an opportunity to buy relatively low.
If you recall, at the low we hit in February, Jim Cramer and all of GE/MSNBC/Pravda fools were bullish down to the very bottom capitulation and then turned bearish at the low point just like they are now. They are experts when it comes to money losing advice.
You do not want to be in inverse ETFs in this time period because you may have to hold on and inverse ETFs fall over time. So you would lose over time as well as lose big in the coming market bounce.
Talking heads are panicking today just like we saw on Feb 8 the day before the market began advancing again.
Buy when the blood is running in the streets and oil is in the water.
Jim Cramer has a good informative show. Just don't follow his advice until you do your own study. For instance you should have bought inverse ETFs for gold and silver four hours before he recommended gold. You should buy the regular ETFs about a month after he recommends them so that they have a chance to bottom out.
World Markets:
We believe the worst of the current market decline is just about spent. Volume spiked up in the capitulation yesterday. Yesterday the market hit the recent lows of February. But the data still looks like the next three-month bullish cycle has already begun. Jim Cramer did not claim we had a double bottom instead he is panicking. Since he recommended buying gold this week it has dropped close to 20%. We think it is up from here but only for about two months.
China is in a state of confusion. Since they started buying Euro's and selling dollars the dollar has grown stronger and the EURO has grown weaker. Since they recommended developing countries establish a basket of currencies the basket has gone up in flames. Is Jim Cramer is no longer claiming China will lead us to recovery. We have pointed out the problems in the developing world some time ago. Now we see small cap and developing countries in a good buying range again.
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
Core CPI Apr remained at 0% for the second month in a row. The CPI dropped from +0.1% to -0.1% due to lower food prices. The dollar is becoming stronger and that will damage the balance of trade and result in more imports and more American unemployment that will be deflationary.
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising.
Yesterday:
Continuing Claims were reported at 4625K that is the same as reported the last time. But they revised the last figure up to 4665K so that the new level would appear better by 40K. However idiots on Wall Street forecast a level of 4600K because they shorted the market and want the market to drop further. Those idiots are Jim Cramer's friends and that is why he panics just when it is time to buy.
Initial Claims 05/15 were at 471K compared to 444K the last time or 27K higher. They had revised the last number up by 2K so that people would only think it was 25K higher. However idiots on Wall Street forecast a level of 440K because they shorted the market and want the market to drop further. The idiots therefore se a 31K increase in unemployment. We have the Obama administration that continuously lies to make things better and the idiots on Wall Street who want Jim Cramer and the public to buy high and sell low so Wall Street can fleece them.
Leading Indicators Apr was an Obama screw-up. Last month it was up 1.3% but this time the corrected it up another 0.1% instead of down 0.1% and therefore they turned a 0.1% improvement into a -0.1% loss this time, the first decline since the recovery began. Remember there is an incestuous self-fulfilling prophecy between the stock market and the leading indicators. When the market is going up the LI is increased and therefore bulls get more bullish. The stock market went down 10% so most of the LI drop was due to the stock market decline not because the economy is worse. The liars on WS love the incest because they want you to sell everything right now because they are secretly buying at the low.
Philadelphia Fed: The expansion of the region's manufacturing sector is continuing, according to firms polled for April's Business Outlook Survey. The general activity index increased to 20.2 this month from 18.9 in March.
Market Outlook May 21, 2010
The final capitulation yesterday was greater than the 3-9-09 capitulation, and more comparable to 9-17-08 or 10-9-08. There could be six months of going horizontal with big swings. Think about the 1970's for a comparison or perhaps 2004 that started with a selloff and went horizontal for six months. We just had a 14% decline. Had the decline stopped two days ago we would have expected the market to rise now to just about the last high. But with the capitulation we saw, we probably will only recover perhaps 10% of the 15% decline in most markets.
The markets yesterday tested investor risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets settled down last night, Shanghai up 1.1%, Hong Kong down -0.2%, India down -0.4%, and Japan down -2.4%.
European markets are down again today in the range from -2% to -2.2% this morning about half way through their day. Obama wants America to be more like the communists and socialists in Europe and pay people for not working because he believes indigents have a valid life style and should be fed, clothed, and housed because they are humans and entitled to it. There is no incentive to work unless you call rioting and protesting cuts a legitimate form of work.
US pre-market futures are down this morning by about -0.7% just like yesterday. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it was another buying opportunity and today it says this morning there is still an opportunity to buy relatively low.
Thursday, May 20, 2010
Gold plunged 15% immediately after Jim Cramer recommended his listeners buy gold this week.
Gold plunged 15% immediately after Jim Cramer recommended his listeners buy gold this week.
Jim Cramer has a good informative show. Just don't follow his advice until you do your own study. For instance you should have bought inverse ETFs for gold and silver four hours before he recommended gold. You should buy the regular ETFs about a month after he recommends them so that they have a chance to bottom out.
We have noticed that the instability in financial markets is the result of the low resistance (the efficiency of the market). Our economy rides like a car with no shock absorbers. We hit a rough patch of road and if our speed sets up a harmonic frequency between the disturbances and our economic system we can fly off the road and crash (an economic depression). Car shock absorbers remove energy in proportion to the energy input and hence dampen and eliminate accidents so long as your speed does not have an associated energy level that exceeds the capacity of the shock absorber. A small tax on market trades of all types would have a stabilizing effect and would take more energy out of markets that are more out of control and little out of markets that are stable.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly again and came close to recent lows. But the data still looks like the next three-month bullish cycle has already begun. Jim Cramer will no doubt claim we had a double bottom and it is all up from here. We think it is up from here but only for about two months.
China is in a state of confusion. Since they started buying Euro's and selling dollars the dollar has grown stronger. Since they recommended developing countries establish a basket of currencies the basket has gone up in flames. Is Jim Cramer communist China's FED chairman in disguise?
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
Yesterday:
Core CPI Apr remained at 0% for the second month in a row. The CPI dropped from +0.1% to -0.1% due to lower food prices. The dollar is becoming stronger and that will damage the balance of trade and result in more imports and more American unemployment that will be deflationary.
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising.
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 20, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets were down last night, Shanghai down -1.2%, Hong Kong down -0.2%, India up 0.7%, and Japan down -1.5%.
European markets are down today in the range from -0.3% to -1.2% this morning about half way through their day.
US pre-market futures are down this morning by about -0.7%. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it was another buying opportunity and today it says this morning there is still an opportunity to buy relatively low.
Jim Cramer has a good informative show. Just don't follow his advice until you do your own study. For instance you should have bought inverse ETFs for gold and silver four hours before he recommended gold. You should buy the regular ETFs about a month after he recommends them so that they have a chance to bottom out.
We have noticed that the instability in financial markets is the result of the low resistance (the efficiency of the market). Our economy rides like a car with no shock absorbers. We hit a rough patch of road and if our speed sets up a harmonic frequency between the disturbances and our economic system we can fly off the road and crash (an economic depression). Car shock absorbers remove energy in proportion to the energy input and hence dampen and eliminate accidents so long as your speed does not have an associated energy level that exceeds the capacity of the shock absorber. A small tax on market trades of all types would have a stabilizing effect and would take more energy out of markets that are more out of control and little out of markets that are stable.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly again and came close to recent lows. But the data still looks like the next three-month bullish cycle has already begun. Jim Cramer will no doubt claim we had a double bottom and it is all up from here. We think it is up from here but only for about two months.
China is in a state of confusion. Since they started buying Euro's and selling dollars the dollar has grown stronger. Since they recommended developing countries establish a basket of currencies the basket has gone up in flames. Is Jim Cramer communist China's FED chairman in disguise?
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
Yesterday:
Core CPI Apr remained at 0% for the second month in a row. The CPI dropped from +0.1% to -0.1% due to lower food prices. The dollar is becoming stronger and that will damage the balance of trade and result in more imports and more American unemployment that will be deflationary.
Crude Inventories dropped significantly from 1.95M down to 1.62M and that should cause energy prices to continue rising.
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 20, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets were down last night, Shanghai down -1.2%, Hong Kong down -0.2%, India up 0.7%, and Japan down -1.5%.
European markets are down today in the range from -0.3% to -1.2% this morning about half way through their day.
US pre-market futures are down this morning by about -0.7%. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it was another buying opportunity and today it says this morning there is still an opportunity to buy relatively low.
Wednesday, May 19, 2010
Sometimes truth and honesty wins against political corruption deceit and hubris. Let the Chinese communists take of the people who are involved in na
Sometimes truth and honesty wins against political corruption deceit and hubris. Let the Chinese communists shoot the people who are involved in naked shorting. The Gold to silver ratio changes back.
No sooner than we see the divergence of gold from silver prices… silver catches back up. But that means that there is just speculation again not real concerns over currency losses.
Yesterday speculators responded with anger to Germany extending the German ban on naked shorting. Naked shorting is like your neighbor selling your home with the promise to borrow the home from you as soon as they can. You do not have to give them permission to sell it or borrow it, you may have no intention of ever selling it to the naked short seller, or you may even be planning to sell it yourself. Meanwhile the value of your home plummets because there are so many people offering to sell your home. You lose a fortune (it is impossible for you to come out ahead) if you want to sell it and buy a different home that is not naked shorted/sold. Naked shorting is the illegal process in America of selling shares of stock that you do not own. Germany made it illegal a few years ago but like fools they listened to a few wall street highwaymen who said Americans are dumb. So the Germans put an expiration date on their wise law against that form of highway robbery. Yesterday the highway robbers were shorting German stocks in retaliation for extending the German ban on naked shorting. It is impossible to catch all naked shorting. We need a treaty with China to take their dissidents who seek American liberty… in exchange for the communists taking Americans who do naked shorting. The communists would take care of the world's naked shorting problem permanently.
Yesterday CT. Democrat Senate candidate Blumenthal was caught in a John Kerry lying blunder. Near the end of the Vietnam War, starting in 1970, all deferments of military draft eligibility were eliminated and America went to a lottery for drafting men. At that time the only way to avoid active duty in Vietnam was to join the Coast Guard or the Reserves. Only rich kids and political contributions or connections could buy a safe Coast Guard or Reserve position. Former Senator Bayh of Indiana got his son such a position, as did the wealthy father of Dan Quaile. Such intentional avoidance of service or "risk avoidance" (some say cowardice others say shrewdness) is a political liability. Not only did the Democrat Candidate Blumenthal get a cherished appointment to the reserves to avoid having to go to Vietnam, but also he was caught on tape lying and saying he served in Vietnam. Coincidentally the CT Supreme Court unanimously told the very aggressive self-serving lady seeking Blumenthal's abandoned CT Attorney General position that she, by state law, is incompetent to be an Attorney General. That reversed the decision of the lower court political hack judge who first said that she was qualified. Sometimes truth and honesty wins against political corruption deceit and hubris.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly again and came close to recent lows. The data still looks like the next three-month bullish cycle has already begun.
People knew about the USA housing bubble back in 2006 but it took until late 2007 for the US housing decline to become evident and for the stock market to even begin to react. It could be some time before the price bubble problem hits China because they have almost a 50% savings rate so they can afford higher housing payments for some time and they have an extreme housing shortage not a glut.
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Yesterday:
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 19, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets were down last night, Shanghai down -0.7%, Hong Kong down -1.8%, India down -2.8%, and Japan down -0.5%.
European markets are down today in the range from -1.3% to -2.2% this morning about half way through their day.
US pre-market futures are down decisively this morning by about -0.7%. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it indicated the buying opportunity might be over and today it says this morning there is still an opportunity to buy relatively low.
No sooner than we see the divergence of gold from silver prices… silver catches back up. But that means that there is just speculation again not real concerns over currency losses.
Yesterday speculators responded with anger to Germany extending the German ban on naked shorting. Naked shorting is like your neighbor selling your home with the promise to borrow the home from you as soon as they can. You do not have to give them permission to sell it or borrow it, you may have no intention of ever selling it to the naked short seller, or you may even be planning to sell it yourself. Meanwhile the value of your home plummets because there are so many people offering to sell your home. You lose a fortune (it is impossible for you to come out ahead) if you want to sell it and buy a different home that is not naked shorted/sold. Naked shorting is the illegal process in America of selling shares of stock that you do not own. Germany made it illegal a few years ago but like fools they listened to a few wall street highwaymen who said Americans are dumb. So the Germans put an expiration date on their wise law against that form of highway robbery. Yesterday the highway robbers were shorting German stocks in retaliation for extending the German ban on naked shorting. It is impossible to catch all naked shorting. We need a treaty with China to take their dissidents who seek American liberty… in exchange for the communists taking Americans who do naked shorting. The communists would take care of the world's naked shorting problem permanently.
Yesterday CT. Democrat Senate candidate Blumenthal was caught in a John Kerry lying blunder. Near the end of the Vietnam War, starting in 1970, all deferments of military draft eligibility were eliminated and America went to a lottery for drafting men. At that time the only way to avoid active duty in Vietnam was to join the Coast Guard or the Reserves. Only rich kids and political contributions or connections could buy a safe Coast Guard or Reserve position. Former Senator Bayh of Indiana got his son such a position, as did the wealthy father of Dan Quaile. Such intentional avoidance of service or "risk avoidance" (some say cowardice others say shrewdness) is a political liability. Not only did the Democrat Candidate Blumenthal get a cherished appointment to the reserves to avoid having to go to Vietnam, but also he was caught on tape lying and saying he served in Vietnam. Coincidentally the CT Supreme Court unanimously told the very aggressive self-serving lady seeking Blumenthal's abandoned CT Attorney General position that she, by state law, is incompetent to be an Attorney General. That reversed the decision of the lower court political hack judge who first said that she was qualified. Sometimes truth and honesty wins against political corruption deceit and hubris.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly again and came close to recent lows. The data still looks like the next three-month bullish cycle has already begun.
People knew about the USA housing bubble back in 2006 but it took until late 2007 for the US housing decline to become evident and for the stock market to even begin to react. It could be some time before the price bubble problem hits China because they have almost a 50% savings rate so they can afford higher housing payments for some time and they have an extreme housing shortage not a glut.
Economic Calendar
This Week
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
Yesterday:
Building Permits Apr: Down from 680K last month to 606K. But housing Starts Apr rose from 626K to 672K. This implies that the oversupply rate is declining over time.
The main producer price index (PPI) fell 0.1%, seasonally adjusted. The core rate, which excludes volatile energy and food prices, rose 0.2%, the Labor Department reported. That is at a 2.4% annual rate that is not inflationary.
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 19, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. The buying opportunity was extended another day.
World Markets
Asian markets were down last night, Shanghai down -0.7%, Hong Kong down -1.8%, India down -2.8%, and Japan down -0.5%.
European markets are down today in the range from -1.3% to -2.2% this morning about half way through their day.
US pre-market futures are down decisively this morning by about -0.7%. As with yesterday and most days U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day. Yesterday it indicated the buying opportunity might be over and today it says this morning there is still an opportunity to buy relatively low.
Tuesday, May 18, 2010
The Gold to silver ratio is changing
The Gold to silver ratio is changing
In the past we saw silver prices rise faster than gold prices. But that meant that there was just speculation not concerns over currency losses. Now you can see gold finally rising and breaking free of other precious metals. It means currency fears are beginning. But even so, the price is driven by emotions and the emotion fear was high yesterday. So Jim Cramer was wrong again yesterday. He just began recommending gold as an investment when gold is at a relative high and at a resistance level. Jim Cramer is 180 degrees out of sync in his advice and flip flops every week or two on whether things are getting better or worse. Yesterday he was extremely pessimistic just when we had one of our last buying opportunities before the market advances again. Yesterday he finally realized that China has a real estate bubble. We have been warning about Asian bubbles for some time. But when everyone else begins worrying and even Jim Cramer panics like he did yesterday… you know that now is the time to get back into the equities markets and to take profits with gold.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly but bounced right back. The data looks like the next bullish cycle has already begun.
People knew about the USA housing bubble back in 2006 but it took until late 2007 for the US housing decline to become evident and for the stock market to even begin to react. It could be some time before the problem hits China because they have almost a 50% savings rate so they can afford higher housing payments for some time and they have an extreme housing shortage not a glut.
Economic Calendar
This Week
Yesterday:
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
May 18
Building Permits Apr
Core PPI Apr
Housing Starts Apr
PPI Apr
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 18, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. That probably was the best opportunity to buy we will see for the next two or three months.
With last weeks trading gaps closed a gradual advance to near previous highs could occur in from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high will be higher than the last one. That is what the average investor thinks.
The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fall short of a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week downward market plunge. The average investor will expect that decline to be supported at the previous lows. We however expect that resistance will be like butter cut by a hot knife perhaps with inter-day low averages as bad as before. The Chinese and Indian industrial shakeout problems should become clearly visible to Jim Cramer GE/MSNBC/Pravda by then as well. When they panic, the new market lows that are likely this summer will probably end up being the best buying opportunities of this year.
World Markets
Asian markets were up last night, Shanghai up 1.4%, Hong Kong up 1.2%, India up 0.2%, and Japan up 0.1%.
European markets are recovering today in the range from 1.2% to 2.2% this morning about half way through their day.
US pre-market futures are up decisively this morning by about 0.7%. With last weeks gaps now closed the market downside risk is reduced significantly and the market shook out the weak hands yesterday.
In the past we saw silver prices rise faster than gold prices. But that meant that there was just speculation not concerns over currency losses. Now you can see gold finally rising and breaking free of other precious metals. It means currency fears are beginning. But even so, the price is driven by emotions and the emotion fear was high yesterday. So Jim Cramer was wrong again yesterday. He just began recommending gold as an investment when gold is at a relative high and at a resistance level. Jim Cramer is 180 degrees out of sync in his advice and flip flops every week or two on whether things are getting better or worse. Yesterday he was extremely pessimistic just when we had one of our last buying opportunities before the market advances again. Yesterday he finally realized that China has a real estate bubble. We have been warning about Asian bubbles for some time. But when everyone else begins worrying and even Jim Cramer panics like he did yesterday… you know that now is the time to get back into the equities markets and to take profits with gold.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline lost momentum. Yesterday the market tested some people dearly but bounced right back. The data looks like the next bullish cycle has already begun.
People knew about the USA housing bubble back in 2006 but it took until late 2007 for the US housing decline to become evident and for the stock market to even begin to react. It could be some time before the problem hits China because they have almost a 50% savings rate so they can afford higher housing payments for some time and they have an extreme housing shortage not a glut.
Economic Calendar
This Week
Yesterday:
US Net Long-term Treasury International Capital (TIC) Flows rise to $140.5B in Mar vs. $47.1B in Feb. The 90.7 Billion increase is an impressive rebound from the last two months which showed a combined decline of -8 billion. The increase was the highest since April 2008. It seems in June the flow of funds back into the dollar resumed after some moves out in prior months.
The NY Empire State Manufacturing Index recorded a figure of 19.11 in May compared to a reading of 31.86 the month prior. Any positive value is still goodness but the decline in the number was more than expected.
May 18
Building Permits Apr
Core PPI Apr
Housing Starts Apr
PPI Apr
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 18, 2010
The markets yesterday tested investors risk tolerance to shake out the weak hands. That probably was the best opportunity to buy we will see for the next two or three months.
With last weeks trading gaps closed a gradual advance to near previous highs could occur in from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high will be higher than the last one. That is what the average investor thinks.
The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fall short of a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week downward market plunge. The average investor will expect that decline to be supported at the previous lows. We however expect that resistance will be like butter cut by a hot knife perhaps with inter-day low averages as bad as before. The Chinese and Indian industrial shakeout problems should become clearly visible to Jim Cramer GE/MSNBC/Pravda by then as well. When they panic, the new market lows that are likely this summer will probably end up being the best buying opportunities of this year.
World Markets
Asian markets were up last night, Shanghai up 1.4%, Hong Kong up 1.2%, India up 0.2%, and Japan up 0.1%.
European markets are recovering today in the range from 1.2% to 2.2% this morning about half way through their day.
US pre-market futures are up decisively this morning by about 0.7%. With last weeks gaps now closed the market downside risk is reduced significantly and the market shook out the weak hands yesterday.
Monday, May 17, 2010
As kids we worried much more about nuclear annihilation of the human race than about social security.
As kids we worried much more about nuclear annihilation of the human race than about social security.
As kids we saw many people who paid little or nothing into Social Security getting SS. We didn’t begrudge them those benefits. Many of them had risked their lives for us in the two world wars. We worried instead that the world would end in a nuclear holocaust before we could retire. Later we saw liberals giving welfare mothers money from Social Security by having their children deemed damaged goods so they could get free behavior control drugs and extra cash from SS. That was wrong because SS was supposed to be for retirement not for wealth redistribution. Now the acts of the liberals have bankrupted the system. But young liberals today are such babies and they want to rob their parents SS. Old liberals are even worse and they want to bankrupt their grandchildren with debts so their lazy liberal children can get free health care and a house they cannot afford.
Churchill is credited with saying:
If you are under 30 and not liberal you have no heart. If you are over 30 and are liberal you have no brain. Liberals may argue about who actually said it to divert attention because regardless… it is a great truth.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline is losing momentum fast.
However the bursting China bubble is starting first with minor ruptures and will likely combine with Obama's idiotic socialist programs to cause a major economic lapse in America next year when higher Obama socialist wealth redistribution taxes remove the incentives of entrepreneurs. We believe the corrupt socialists are already using entrepreneur programs to funnel taxpayer cash to other incompetent socialists the way millions were funneled to the place Obama's wife worked when Obama first became a Senator. The socialists are already corrupting all their socialist economic programs the way they corrupted the mortgage industry with Ginnie Mae and Freddie Mac. All the Obama economic programs are corrupt phony programs intended to steal money from taxpayers and redistribute it to their socialist and communist rising gangsters the way the Russian gangsters stole money and whole national industries in the 1990s. Ultimately they will bring to America the murders and kidnappings we already see in our socialist banana republic neighbors in South and Central America. That is why Americans need to throw these socialist bums out as soon as possible. Remember Obama loves Ortega.
Economic Calendar
Last week
Retail Sales - Again they dropped last months number by 0.2% from its original 2.1% increase. Therefore instead of the increase being just 0.2% this month they could lie and report it better by 0.4%. Retail sales actually contracted sharply from a 2.1% increase to a 0.2% increase. That is a rapid slowdown in retail sails growth and not good news. However the GE/MSNBC/Pravda " Obama propaganda machine" ignored the slower growth and just reported it as good news lying and saying retail sales increased 0.4%.
Industrial Production was also slightly distorted but it was still good news. GE/MSNBC/Pravda reported it as up 0.8% and it was probably up about 0.7%.
Consumer Sentiment, Mich.: Definitely improved to 73.3 from 72.2.
This Week
May 17
Net long-term TIC Flows Feb
May 18
Building Permits Apr
Core PPI Apr
Housing Starts Apr
PPI Apr
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 17, 2010
The markets dropped on low volume Friday indicating that investors are still very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Most stock and index gaps were closed and Friday was perhaps the best buying opportunity we will see for at least six weeks. For example look at the gaps filled in these sectors which clearly have many gapped stocks involved. For example EDC, DZK, and TNA had even their gaps closed. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, and that was again the case on Friday (just four days.
Why does that happen? In this particular case the gaps were downward overshoots that were so large that they pulled down the averages at an accelerated rate, so fast that a few days later the 50 day moving average was penetrated triggering computer driven sell-offs down closing the gaps. That usually provides a great buying opportunity
With the gaps closed a gradual advance to near previous highs could occur in from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by socialist GE/MSNBC/Pravda and Jim Cramer to expect a new high… we expect the market will now rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the lows of last week. We however expect that resistance will be like butter cut by a hot knife perhaps with inter-day low averages as bad as last week. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. The new market lows that are likely this summer probably be the best buying opportunities of this year.
World Markets
Asian markets were down sharply, especially China last night; Shanghai down -5.1%, Hong Kong down -2.1%, India down -1%, and Japan down -2.2%.
European markets are recovering today in the range from 0.5% to 1.4% this morning about half way through their day.
US pre-market futures are flat this morning. But with last weeks gaps now closed the market downside risk is reduced significantly.
The new danger is the eventual China bubble problem on the horizon.
John P. Hussman, Ph.D. this week reports:
Two Choices: Restructure Debts or Debase Currencies
Monetary policy is only as good as fiscal policy. A central bank does not have wealth of its own. It is a zero-sum entity that can only enrich those from whom it purchases debt by debasing the relative wealth of people who hold the existing stock of currency. If a government insists on running deficits, engaging in wasteful spending, and dissipating public resources to bail out private bondholders, it has to find somebody willing to buy its debt. If it does not, the central bank buys it, and dilutes the currency by doing so. The situation is particularly insidious when the central bank buys low-quality debt, because there is no taxing authority behind it to provide a basis for confidence in the currency.
Street Smart this week reports
Saturday, How Not To Create Confidence!
" Jean-Claude Trichet, President of the European Central Bank, is quoted by the German Newspaper Der Spiegel, with the quotes spreading globally, that Europe’s economy “is in its most difficult situation since World War II or perhaps even World War I.” And that the current debt crisis is similar to the 2008 collapse of Lehman Brothers, after which “the markets didn’t work anymore.”
As kids we saw many people who paid little or nothing into Social Security getting SS. We didn’t begrudge them those benefits. Many of them had risked their lives for us in the two world wars. We worried instead that the world would end in a nuclear holocaust before we could retire. Later we saw liberals giving welfare mothers money from Social Security by having their children deemed damaged goods so they could get free behavior control drugs and extra cash from SS. That was wrong because SS was supposed to be for retirement not for wealth redistribution. Now the acts of the liberals have bankrupted the system. But young liberals today are such babies and they want to rob their parents SS. Old liberals are even worse and they want to bankrupt their grandchildren with debts so their lazy liberal children can get free health care and a house they cannot afford.
Churchill is credited with saying:
If you are under 30 and not liberal you have no heart. If you are over 30 and are liberal you have no brain. Liberals may argue about who actually said it to divert attention because regardless… it is a great truth.
World Markets:
We believe the worst of the current market decline is just about spent. Volume on this last decline was still quite low showing the decline is losing momentum fast.
However the bursting China bubble is starting first with minor ruptures and will likely combine with Obama's idiotic socialist programs to cause a major economic lapse in America next year when higher Obama socialist wealth redistribution taxes remove the incentives of entrepreneurs. We believe the corrupt socialists are already using entrepreneur programs to funnel taxpayer cash to other incompetent socialists the way millions were funneled to the place Obama's wife worked when Obama first became a Senator. The socialists are already corrupting all their socialist economic programs the way they corrupted the mortgage industry with Ginnie Mae and Freddie Mac. All the Obama economic programs are corrupt phony programs intended to steal money from taxpayers and redistribute it to their socialist and communist rising gangsters the way the Russian gangsters stole money and whole national industries in the 1990s. Ultimately they will bring to America the murders and kidnappings we already see in our socialist banana republic neighbors in South and Central America. That is why Americans need to throw these socialist bums out as soon as possible. Remember Obama loves Ortega.
Economic Calendar
Last week
Retail Sales - Again they dropped last months number by 0.2% from its original 2.1% increase. Therefore instead of the increase being just 0.2% this month they could lie and report it better by 0.4%. Retail sales actually contracted sharply from a 2.1% increase to a 0.2% increase. That is a rapid slowdown in retail sails growth and not good news. However the GE/MSNBC/Pravda " Obama propaganda machine" ignored the slower growth and just reported it as good news lying and saying retail sales increased 0.4%.
Industrial Production was also slightly distorted but it was still good news. GE/MSNBC/Pravda reported it as up 0.8% and it was probably up about 0.7%.
Consumer Sentiment, Mich.: Definitely improved to 73.3 from 72.2.
This Week
May 17
Net long-term TIC Flows Feb
May 18
Building Permits Apr
Core PPI Apr
Housing Starts Apr
PPI Apr
May 19
Core CPI Apr
CPI Apr
Crude Inventories
May 20
Continuing Claims
Initial Claims 05/15
Leading Indicators Apr
Philadelphia Fed
Market Outlook May 17, 2010
The markets dropped on low volume Friday indicating that investors are still very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Most stock and index gaps were closed and Friday was perhaps the best buying opportunity we will see for at least six weeks. For example look at the gaps filled in these sectors which clearly have many gapped stocks involved. For example EDC, DZK, and TNA had even their gaps closed. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, and that was again the case on Friday (just four days.
Why does that happen? In this particular case the gaps were downward overshoots that were so large that they pulled down the averages at an accelerated rate, so fast that a few days later the 50 day moving average was penetrated triggering computer driven sell-offs down closing the gaps. That usually provides a great buying opportunity
With the gaps closed a gradual advance to near previous highs could occur in from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by socialist GE/MSNBC/Pravda and Jim Cramer to expect a new high… we expect the market will now rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the lows of last week. We however expect that resistance will be like butter cut by a hot knife perhaps with inter-day low averages as bad as last week. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. The new market lows that are likely this summer probably be the best buying opportunities of this year.
World Markets
Asian markets were down sharply, especially China last night; Shanghai down -5.1%, Hong Kong down -2.1%, India down -1%, and Japan down -2.2%.
European markets are recovering today in the range from 0.5% to 1.4% this morning about half way through their day.
US pre-market futures are flat this morning. But with last weeks gaps now closed the market downside risk is reduced significantly.
The new danger is the eventual China bubble problem on the horizon.
John P. Hussman, Ph.D. this week reports:
Two Choices: Restructure Debts or Debase Currencies
Monetary policy is only as good as fiscal policy. A central bank does not have wealth of its own. It is a zero-sum entity that can only enrich those from whom it purchases debt by debasing the relative wealth of people who hold the existing stock of currency. If a government insists on running deficits, engaging in wasteful spending, and dissipating public resources to bail out private bondholders, it has to find somebody willing to buy its debt. If it does not, the central bank buys it, and dilutes the currency by doing so. The situation is particularly insidious when the central bank buys low-quality debt, because there is no taxing authority behind it to provide a basis for confidence in the currency.
Street Smart this week reports
Saturday, How Not To Create Confidence!
" Jean-Claude Trichet, President of the European Central Bank, is quoted by the German Newspaper Der Spiegel, with the quotes spreading globally, that Europe’s economy “is in its most difficult situation since World War II or perhaps even World War I.” And that the current debt crisis is similar to the 2008 collapse of Lehman Brothers, after which “the markets didn’t work anymore.”
Saturday, May 15, 2010
As kids we worried more about nuclear extermination than about social security.
As kids we worried more about nuclear extermination than about social security.
As kids we saw many people who paid little or nothing into Social Security getting social security. We didn’t begrudge them that benefit. Many of them risked their lives for us in the two world wars. We worried instead that the world would end in a nuclear holocaust before we could retire. Young liberals today are such babies and they want to rob their parents. Old liberals are worse and they want to bankrupt their grandchildren with debts just so their lazy liberal children can get free health care and a house they cannot afford.
World Markets:
We believe the worst of the current decline is just about spent. Volume on this last decline was still quite low showing the decline is losing momentum fast.
Economic Calendar
Last week
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 17, 2010
The markets dropped on low volume yesterday indicating that investors are becoming very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Most stock and index gaps were closed and Friday was perhaps the best buying opportunity we will see for at least six weeks. For example look at the gaps filled in these sectors which clearly have many gapped stocks involved. EDC, DZK, and TNA had their gaps closed. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, and that was the case on Friday (just four days. Why does that happen? In this particular case the gap is so large that in pulls down the averages so fast that the 50 day moving average is penetrated giving a computer driven sell-off.
With the gaps closed a gradual advance to near previous highs could take from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were down significantly last night; Shanghai down -0.5%, Hong Kong down -1.3%, India down -1.5%, and Japan down -1.6%.
European markets down sharply today in the range from -1.2% to -2.7% this morning about half way through their day.
US pre-market futures are down about 0.7% this morning.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
Evidence of Financial Wrong-Doing Piles Up.
As kids we saw many people who paid little or nothing into Social Security getting social security. We didn’t begrudge them that benefit. Many of them risked their lives for us in the two world wars. We worried instead that the world would end in a nuclear holocaust before we could retire. Young liberals today are such babies and they want to rob their parents. Old liberals are worse and they want to bankrupt their grandchildren with debts just so their lazy liberal children can get free health care and a house they cannot afford.
World Markets:
We believe the worst of the current decline is just about spent. Volume on this last decline was still quite low showing the decline is losing momentum fast.
Economic Calendar
Last week
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 17, 2010
The markets dropped on low volume yesterday indicating that investors are becoming very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Most stock and index gaps were closed and Friday was perhaps the best buying opportunity we will see for at least six weeks. For example look at the gaps filled in these sectors which clearly have many gapped stocks involved. EDC, DZK, and TNA had their gaps closed. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, and that was the case on Friday (just four days. Why does that happen? In this particular case the gap is so large that in pulls down the averages so fast that the 50 day moving average is penetrated giving a computer driven sell-off.
With the gaps closed a gradual advance to near previous highs could take from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were down significantly last night; Shanghai down -0.5%, Hong Kong down -1.3%, India down -1.5%, and Japan down -1.6%.
European markets down sharply today in the range from -1.2% to -2.7% this morning about half way through their day.
US pre-market futures are down about 0.7% this morning.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
Evidence of Financial Wrong-Doing Piles Up.
Friday, May 14, 2010
The Obama government continues to produce corrupted economic data to hide its banana republic ineptness.
The Obama government continues to produce corrupted economic data to hide its banana republic ineptness.
Below you see the persistent corruption of economic data by first lying by reporting data optimistically and then adjusting the data towards the truth when nobody is looking so that the new data almost always shows an improvement in the economy.
The Obama administration has the lowest representation of intelligent private sector problem solvers in recent history. Now Obama wants to appoint Kagan, a person with no significant judicial experience, to the Supreme Court. All she is credited with is an ability to talk well without intelligent things to say similar to the way Obama talks. Obama says nothing but says it well. She is another banana republic socialist talker with no intelligent things being said or proposed. They are socialists not problem solvers such as good American leaders would be if they came from from the private sector. Kagan has always been and obviously still is being advanced just because she is a woman and a socialist not because she is competent. It has been pointed out that when the country was founded the entire court was composed of protestant men and now the leftist lunatic bigots have gotten the court down to one single protestant man. The leftist lunatics think that is an unbiased representation of America.
World Markets:
It is very likely that Chinese capitalism will fail this year as Russian capitalism failed in the last decade. However, they may become less ardent communists and more corrupt the way Russia is today with a much reduced growth rate but still much better than under communism. Housing prices in China are more distorted today than they were in Japan in 1989 just before the Japanese boom went bust. It appears the Chinese housing bubble will burst soon, perhaps this year but not until a recession begins and the Chinese experience rising unemployment as they had in 1997. When unemployment rises the housing bubble will burst and they will experience what Japan experienced since 1990 and America has experience since 2007.
In the past American free enterprise has always provided a stable currency and has always bailed out the world by advancing world wide technology faster than corrupt socialist fascists and Communists could destroy wealth. But with corrupt American socialists now carving up and consuming American free enterprise that era is coming to an end. Americans must rise up in November and throw out the corrupt socialists before it is too late and they create a permanent economic underclass that votes 90% or higher for a corrupt socialist tyranny to take care of them cradle to grave.
Economic Calendar
This week
Lower ratings and ad revenues, and higher costs at Walt Disney ABC television network, flat operating income at $1.3 billion, and decreased primetime and news ad revenues were reported optimistically with much fanfare by GE/MSNBC/Pravda.
View three years of the following. Do not be fooled by the three or six months Jim Cramer shows to deceive his viewers.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
The British central bank left its benchmark interest rate at 0.5 percent, where it has been since March 2009.
Inventories at U.S. wholesalers rose for a third month in March, but sales climbed even more, a signal companies will need to step up orders to try to meet demand. The amount of goods on hand compared to sales dropped to the lowest level on record, indicating factories will need to keep increasing production.
The trade deficit in the U.S. widened in March to the highest level in more than a year. The trade deficit stands to get much worse as the world debt crisis pushes the dollar up against the euro and obviates the need for China to revalue higher. Ultimately Obama's policy will shift the crisis to America and the American currency will collapse. But the American debt crisis will not begin until Obama tax and spending kicks into high gear next year and crushes the American recovery.
Yesterday
Unemployment initial claims were once again manipulated by the Obama administration. They have about 90% liars rating. The last time they were at 444,000 but that was revised upward by 4,000 so that this time they could cut initial claims from 448,000 down to 444,000. So the truth is initial claims increased 4000 or about 1% from 444K to 448K but Obama lied and increased the last number by 4K while nobody was looking so he could subtract 4K for this announcement. They lied by 2% in order to turn a 1% increase in new unemployment claims into a manufactured lying 1% decrease.
Obama lied on continuing claims as well. The last report said 4,595,000 people were collecting unemployment. Later when no one was looking they increased that number to 4,615,000 or by 20,000 so that they could falsely claim a reduction of 20,000 from the truth. Claims jumped to 4,627,000 from 4,595,000 even after subtracting the 20,000 or over 1%. That is why unemployment is now over 10% even though they lied and said things improved. Many people are being kicked off of unemployment now.
Corporate earnings reports are distorted to look exceptional because after earnings dropped 99% last year (2009) to 1% of 2008 earnings all they have to do is grow to 2% of 2008's earnings and they can report that earnings are up 100% from last year (2009). But anyone with any sense knows that is the same as saying 2010 earnings are still down 98% from 2008. So the 100% improvement this year still stinks because we need a 9900% improvement just to get to a pre-Obama economy. Jim Cramer apparently has not figured that out yet. Or else he is one the folks that sell their clients a bill of goods so they can turn a profit. Does Jim pump his held stocks and then dumps them later?
Remember, until Obama came on the scene all intelligent well intentioned political candidates avoided the "D" word because they knew mentioning the "D" word could cause an economic crisis of confidence in the economy and therefore trigger another Great "D". Obama proved he could win an election by ignorantly, maliciously and irresponsibly claiming GW caused a "D" (depression). The crisis occurred within less than a year of Obama first using the "D" word in speeches. Obama not GW caused this crisis and his Greek socialist tax and spend agenda coupled with loose depression talk will cause a Great Depression if he is not booted out of office ASAP.
Friday, May 14:
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 14, 2010
The markets dropped on very low volume yesterday indicating that investors are becoming very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Many stocks and indices have gapped upward and investors may be cautious until the market retraces and closes the gaps. For example look at the gaps in these sectors which clearly have many gapped stocks involved. EDC, DZK, and TNA have serious gaps, as do many others. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, But sometimes it takes six weeks or more and until a market breakdown occurs. Investors feel very uncomfortable buying stocks above their gaps when in most cases they can place a limit order and buy nearer the bottom of the gap.
When the gaps have been closed a gradual advance to near previous highs could take from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were down significantly last night; Shanghai down -0.5%, Hong Kong down -1.3%, India down -1.5%, and Japan down -1.6%.
European markets down sharply today in the range from -1.2% to -2.7% this morning about half way through their day.
US pre-market futures are down about 0,7% this morning.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
Evidence of Financial Wrong-Doing Piles Up.
Below you see the persistent corruption of economic data by first lying by reporting data optimistically and then adjusting the data towards the truth when nobody is looking so that the new data almost always shows an improvement in the economy.
The Obama administration has the lowest representation of intelligent private sector problem solvers in recent history. Now Obama wants to appoint Kagan, a person with no significant judicial experience, to the Supreme Court. All she is credited with is an ability to talk well without intelligent things to say similar to the way Obama talks. Obama says nothing but says it well. She is another banana republic socialist talker with no intelligent things being said or proposed. They are socialists not problem solvers such as good American leaders would be if they came from from the private sector. Kagan has always been and obviously still is being advanced just because she is a woman and a socialist not because she is competent. It has been pointed out that when the country was founded the entire court was composed of protestant men and now the leftist lunatic bigots have gotten the court down to one single protestant man. The leftist lunatics think that is an unbiased representation of America.
World Markets:
It is very likely that Chinese capitalism will fail this year as Russian capitalism failed in the last decade. However, they may become less ardent communists and more corrupt the way Russia is today with a much reduced growth rate but still much better than under communism. Housing prices in China are more distorted today than they were in Japan in 1989 just before the Japanese boom went bust. It appears the Chinese housing bubble will burst soon, perhaps this year but not until a recession begins and the Chinese experience rising unemployment as they had in 1997. When unemployment rises the housing bubble will burst and they will experience what Japan experienced since 1990 and America has experience since 2007.
In the past American free enterprise has always provided a stable currency and has always bailed out the world by advancing world wide technology faster than corrupt socialist fascists and Communists could destroy wealth. But with corrupt American socialists now carving up and consuming American free enterprise that era is coming to an end. Americans must rise up in November and throw out the corrupt socialists before it is too late and they create a permanent economic underclass that votes 90% or higher for a corrupt socialist tyranny to take care of them cradle to grave.
Economic Calendar
This week
Lower ratings and ad revenues, and higher costs at Walt Disney ABC television network, flat operating income at $1.3 billion, and decreased primetime and news ad revenues were reported optimistically with much fanfare by GE/MSNBC/Pravda.
View three years of the following. Do not be fooled by the three or six months Jim Cramer shows to deceive his viewers.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
The British central bank left its benchmark interest rate at 0.5 percent, where it has been since March 2009.
Inventories at U.S. wholesalers rose for a third month in March, but sales climbed even more, a signal companies will need to step up orders to try to meet demand. The amount of goods on hand compared to sales dropped to the lowest level on record, indicating factories will need to keep increasing production.
The trade deficit in the U.S. widened in March to the highest level in more than a year. The trade deficit stands to get much worse as the world debt crisis pushes the dollar up against the euro and obviates the need for China to revalue higher. Ultimately Obama's policy will shift the crisis to America and the American currency will collapse. But the American debt crisis will not begin until Obama tax and spending kicks into high gear next year and crushes the American recovery.
Yesterday
Unemployment initial claims were once again manipulated by the Obama administration. They have about 90% liars rating. The last time they were at 444,000 but that was revised upward by 4,000 so that this time they could cut initial claims from 448,000 down to 444,000. So the truth is initial claims increased 4000 or about 1% from 444K to 448K but Obama lied and increased the last number by 4K while nobody was looking so he could subtract 4K for this announcement. They lied by 2% in order to turn a 1% increase in new unemployment claims into a manufactured lying 1% decrease.
Obama lied on continuing claims as well. The last report said 4,595,000 people were collecting unemployment. Later when no one was looking they increased that number to 4,615,000 or by 20,000 so that they could falsely claim a reduction of 20,000 from the truth. Claims jumped to 4,627,000 from 4,595,000 even after subtracting the 20,000 or over 1%. That is why unemployment is now over 10% even though they lied and said things improved. Many people are being kicked off of unemployment now.
Corporate earnings reports are distorted to look exceptional because after earnings dropped 99% last year (2009) to 1% of 2008 earnings all they have to do is grow to 2% of 2008's earnings and they can report that earnings are up 100% from last year (2009). But anyone with any sense knows that is the same as saying 2010 earnings are still down 98% from 2008. So the 100% improvement this year still stinks because we need a 9900% improvement just to get to a pre-Obama economy. Jim Cramer apparently has not figured that out yet. Or else he is one the folks that sell their clients a bill of goods so they can turn a profit. Does Jim pump his held stocks and then dumps them later?
Remember, until Obama came on the scene all intelligent well intentioned political candidates avoided the "D" word because they knew mentioning the "D" word could cause an economic crisis of confidence in the economy and therefore trigger another Great "D". Obama proved he could win an election by ignorantly, maliciously and irresponsibly claiming GW caused a "D" (depression). The crisis occurred within less than a year of Obama first using the "D" word in speeches. Obama not GW caused this crisis and his Greek socialist tax and spend agenda coupled with loose depression talk will cause a Great Depression if he is not booted out of office ASAP.
Friday, May 14:
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 14, 2010
The markets dropped on very low volume yesterday indicating that investors are becoming very cautious now and reluctant to buy or short the market. Risk is perceived now as very high. Many stocks and indices have gapped upward and investors may be cautious until the market retraces and closes the gaps. For example look at the gaps in these sectors which clearly have many gapped stocks involved. EDC, DZK, and TNA have serious gaps, as do many others. If you examine their price history you see that 90% of the time they close their gaps within 3 to 8 days, But sometimes it takes six weeks or more and until a market breakdown occurs. Investors feel very uncomfortable buying stocks above their gaps when in most cases they can place a limit order and buy nearer the bottom of the gap.
When the gaps have been closed a gradual advance to near previous highs could take from 4 to 8 weeks. The average investor (who cannot use volume) thinks the bull market had successive highs and held above the necklines during the declines. They therefore expect the next market high can be higher than the last one. That is what the average investor thinks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were down significantly last night; Shanghai down -0.5%, Hong Kong down -1.3%, India down -1.5%, and Japan down -1.6%.
European markets down sharply today in the range from -1.2% to -2.7% this morning about half way through their day.
US pre-market futures are down about 0,7% this morning.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
Evidence of Financial Wrong-Doing Piles Up.
Thursday, May 13, 2010
Is the Obama investigation of Wall Street due diligence or more political corruption?
Is the Obama investigation of Wall Street due diligence or more political corruption?
The democrat-socialists are having a difficult time raising money this year for their election war chest especially when you consider how much money they took in during the credit crunch in 2008 when even city bonding auctions dried up. Corrupt politicians always love to start their dirty political investigations just before elections because corrupt businessmen and drug cartels know that is the time when corrupt politicians collect their dues from the stingy crooks. They also like to investigate honest opponents at that time to drag them trough the mud.
They investigated President Ronald Reagan because he gave the Iranian Ayatollah a Bible and they then made a fool of themselves investigating Col. Oliver North. The evil that the democrat-socialists perceived and wanted to expose was that the US was quietly supporting opponents of Communism in Central America. About 99% of Americans thought supporting opponents of Communism in Central America was a good idea so the corrupt socialists lost that election just as they are being crushed in every local election in the USA this year.
The democrat-socialists expanded their investigation today as they throw out the nets for contributions. Soon we will know if they are actually honestly seeking to stop Wall Street corrupt ethics and practices or whether they are just extorting political contributions to turn off the heat on corrupt contributors and turn up the heat on honest businessmen who do not heed the extortion notice.
World Markets:
It is very likely that Chinese capitalism will fail this year as miserably as Russian capitalism failed in the last decade. However, they may become less communist and survive similar to the way Russia is today with a much reduced growth rate but still much better than under communism. Then it will again be time for Americans to invest in China. Housing prices in China are more distorted today than they were in Japan in 1989 just before the Japanese boom went bust. It appears the Chinese bubble will burst soon, perhaps even this year but not until a recession begins and the Chinese experience rising unemployment as they had in 1997. When unemployment rises the housing bubble will burst and they will experience what America has experience since 2007.
In the past American free enterprise has always provided a stable currency and has always bailed out the world by advancing world wide technology faster than socialist fascists and Communists could destroy wealth. But with American socialists now carving up and consuming American free enterprise... that era is coning to an end. Americans must rise up in November and throw out the socialists before it is too late and the socialists create a permanent economic underclass that votes 90% to 99%for socialist tyranny to take care of them cradle to grave.
Economic Calendar
This week
Lower ratings and ad revenues, and higher costs at Walt Disney ABC television network upstaged a turnaround at its film division and its shares fell 3.5 percent. Revenues in the media networks division, home to cable networks like ESPN and broadcaster ABC, rose 6 percent to $3.8 billion, but operating income was flat at $1.3 billion. Within the division, operating income at Disney's broadcasting networks fell $39 million to $123 million primarily due to decreased primetime and news ad revenues at ABC TV network and higher programming costs.
View three years of the following not three or six months like Jim Cramer shows to deceive listeners.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
The British central bank left its benchmark interest rate at 0.5 percent, where it has been since March 2009. It also decided to leave unchanged its program of buying government bonds and other assets to revive the economy. That program currently stands at £200 billion, or $296 billion.
Inventories at U.S. wholesalers rose for a third month in March, but sales climbed even more, a signal companies will need to step up orders to try to meet demand. The 0.4 percent gain in the value of stockpiles followed a 0.6 percent increase the prior month, the Commerce Department said today in Washington. Sales gained 2.4 percent, the most since November. The amount of goods on hand compared to sales dropped to the lowest level on record, indicating factories will need to keep increasing production.
Yesterday
The trade deficit in the U.S. widened in March to the highest level in more than a year as the cost of imported oil climbed and companies restocked shelves with goods bought abroad. The trade deficit stands to get much worse as the world debt crisis (especially the European crisis) pushes the dollar up against the euro and obviates the need for China to revalue higher. Ultimately Obama's policy will shift the crisis to America and the American currency will collapse. But the American debt crisis will not begin until Obama tax and spending kicks into high gear next year and crushes the American recovery.
Thursday, May 13:
Unemployment initial claims
Friday, May 14:
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 12, 2010
The markets climbed on very low volume yesterday indicating that there are very few bulls driving up the market and that the bears have covered themselves already and are not at risk of a short squeeze. The market bounce was quick, the re-testing was quick and partial and now a more gradual advance to near previous highs could take from 4 to 8 weeks. The average investors (who cannot use volume) think the bull market had successive highs and held above the necklines during the declines. They therefore the next market high can be higher than the last one. That is what the average investor thinks.
Many stocks and stock sectors did not re-test lows but in fact have left gaps near their lows. Technically I have never heard a good reason why markets always seem to close those gaps but I have seen that happen over and over. That technical phenomena alone could cause a retest of the lows within six weeks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were up last night; Shanghai up 2.1%, Hong Kong up 1%, India up 0.4%, and Japan up 2.2%.
European markets flat today in the range from 0% to +0.6% this morning about half way through their day.
US pre-market futures appear manipulated as usual.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
The democrat-socialists are having a difficult time raising money this year for their election war chest especially when you consider how much money they took in during the credit crunch in 2008 when even city bonding auctions dried up. Corrupt politicians always love to start their dirty political investigations just before elections because corrupt businessmen and drug cartels know that is the time when corrupt politicians collect their dues from the stingy crooks. They also like to investigate honest opponents at that time to drag them trough the mud.
They investigated President Ronald Reagan because he gave the Iranian Ayatollah a Bible and they then made a fool of themselves investigating Col. Oliver North. The evil that the democrat-socialists perceived and wanted to expose was that the US was quietly supporting opponents of Communism in Central America. About 99% of Americans thought supporting opponents of Communism in Central America was a good idea so the corrupt socialists lost that election just as they are being crushed in every local election in the USA this year.
The democrat-socialists expanded their investigation today as they throw out the nets for contributions. Soon we will know if they are actually honestly seeking to stop Wall Street corrupt ethics and practices or whether they are just extorting political contributions to turn off the heat on corrupt contributors and turn up the heat on honest businessmen who do not heed the extortion notice.
World Markets:
It is very likely that Chinese capitalism will fail this year as miserably as Russian capitalism failed in the last decade. However, they may become less communist and survive similar to the way Russia is today with a much reduced growth rate but still much better than under communism. Then it will again be time for Americans to invest in China. Housing prices in China are more distorted today than they were in Japan in 1989 just before the Japanese boom went bust. It appears the Chinese bubble will burst soon, perhaps even this year but not until a recession begins and the Chinese experience rising unemployment as they had in 1997. When unemployment rises the housing bubble will burst and they will experience what America has experience since 2007.
In the past American free enterprise has always provided a stable currency and has always bailed out the world by advancing world wide technology faster than socialist fascists and Communists could destroy wealth. But with American socialists now carving up and consuming American free enterprise... that era is coning to an end. Americans must rise up in November and throw out the socialists before it is too late and the socialists create a permanent economic underclass that votes 90% to 99%for socialist tyranny to take care of them cradle to grave.
Economic Calendar
This week
Lower ratings and ad revenues, and higher costs at Walt Disney ABC television network upstaged a turnaround at its film division and its shares fell 3.5 percent. Revenues in the media networks division, home to cable networks like ESPN and broadcaster ABC, rose 6 percent to $3.8 billion, but operating income was flat at $1.3 billion. Within the division, operating income at Disney's broadcasting networks fell $39 million to $123 million primarily due to decreased primetime and news ad revenues at ABC TV network and higher programming costs.
View three years of the following not three or six months like Jim Cramer shows to deceive listeners.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
The British central bank left its benchmark interest rate at 0.5 percent, where it has been since March 2009. It also decided to leave unchanged its program of buying government bonds and other assets to revive the economy. That program currently stands at £200 billion, or $296 billion.
Inventories at U.S. wholesalers rose for a third month in March, but sales climbed even more, a signal companies will need to step up orders to try to meet demand. The 0.4 percent gain in the value of stockpiles followed a 0.6 percent increase the prior month, the Commerce Department said today in Washington. Sales gained 2.4 percent, the most since November. The amount of goods on hand compared to sales dropped to the lowest level on record, indicating factories will need to keep increasing production.
Yesterday
The trade deficit in the U.S. widened in March to the highest level in more than a year as the cost of imported oil climbed and companies restocked shelves with goods bought abroad. The trade deficit stands to get much worse as the world debt crisis (especially the European crisis) pushes the dollar up against the euro and obviates the need for China to revalue higher. Ultimately Obama's policy will shift the crisis to America and the American currency will collapse. But the American debt crisis will not begin until Obama tax and spending kicks into high gear next year and crushes the American recovery.
Thursday, May 13:
Unemployment initial claims
Friday, May 14:
Retail Sales
Industrial Production
Consumer Sentiment, Mich.
Market Outlook May 12, 2010
The markets climbed on very low volume yesterday indicating that there are very few bulls driving up the market and that the bears have covered themselves already and are not at risk of a short squeeze. The market bounce was quick, the re-testing was quick and partial and now a more gradual advance to near previous highs could take from 4 to 8 weeks. The average investors (who cannot use volume) think the bull market had successive highs and held above the necklines during the declines. They therefore the next market high can be higher than the last one. That is what the average investor thinks.
Many stocks and stock sectors did not re-test lows but in fact have left gaps near their lows. Technically I have never heard a good reason why markets always seem to close those gaps but I have seen that happen over and over. That technical phenomena alone could cause a retest of the lows within six weeks.
But then since the average investor will be told by GE/MSNBC/Pravda to expect a new high we expect the market will rise close to the previous highs (in 4 to 8 weeks when we want to sell everything). The average investor will expect a new high but we expect this time the raw price history as well as the volume corrected history will both fail to have a new high. Our volume adjusted NYSE price information will not likely even come close to its previous high. That advance should happen probably over 4 to 8 weeks. Then we expect a 1 to 2 week second downward market plunge. The average investor will expect that decline to be supported at the low price close of last Thursday. We however expect that resistance will be cut like butter by a hot knife perhaps with inter-day low averages as bad as last Thursday. We do not expect the individual stocks will duplicate last Thursday but the averages could. For instance the inverse silver prices actually declined during the day last Thursday but with communism being rewarded in Greece we expect Europeans to turn to gold, diamonds, art and other solid material goods. We expect precious metal ETFs to soar, but because they have no intrinsic value we expect they will then collapse dramatically. The Chinese and Indian industrial shakeout problems should become clearly visible by then as well. Those new market lows that are likely this summer will likely be the best buying opportunity of this year.
World Markets
Asian markets were up last night; Shanghai up 2.1%, Hong Kong up 1%, India up 0.4%, and Japan up 2.2%.
European markets flat today in the range from 0% to +0.6% this morning about half way through their day.
US pre-market futures appear manipulated as usual.
John P. Hussman, Ph.D. this week reports:
"Greek Debt and Backward Induction
The bottom line is that 1) aid from other European nations is the only thing that may prevent the markets from provoking an immediate default through an unwillingness to roll-over existing debt; 2) the aid to Greece is likely to turn out to be a non-recourse subsidy, throwing good money after bad and inducing higher inflationary pressures several years out than are already likely; 3) Greece appears unlikely to remain among euro-zone countries over the long-term; and 4) the backward induction of investors about these concerns may provoke weakened confidence about sovereign debt in the euro-area more generally."
Street Smart this week reports
A Trillion Dollars Buys Only a One-Day Bounce?
Financial Reform Becomes Sillier As It Proceeds.
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