Stocks stabilize again at old resistance levels
The panic of investors yesterday was because the U.S. Conference Board revised sharply downward its fabricated economic indicators for China, to 0.3% for April instead of their previously fabricated 1.7% growth. Why would anyone believe this outfit that admits errors of 460% after two months. That is the same fraud Obama practices only he is more discreet. Obama is continuously dropping the early growth estimates so that in the future they look relatively better. They are either stupid and cannot get it right the first time or else they are corrupting the economic statistics. The U.S. Conference Board should have to say China's April growth was 0.3% plus or minus 1.4% or just admit it is an absolutely worthless number that is nothing but an educated guess. That is how bad that U.S. Conference Board China number is. Perhaps they are leftists too.
Market volume jumped 50% on the sharp market decline to previous lows on false GE/MSNBC/Pravda rumors of a recent slowdown in China after the Conference Board report. The slowdown began last year when we said to get out of Emerging markets. Last month we recommended phasing back in because the worst is over.
People buy treasuries not for the low interest they pay but because when the interest rate declines from 3% to 2% the treasuries appreciate 33% ((3-2)/3). Bond investments work under declining interest rates and get infinitely good as the interest rate approaches zero. But it is a two edged sword. If you are wrong and interest rates go from 2% to 3% you lose 50% of your capital ((3-2)/2)which means you need to hold them to maturity to break even. Therefore shorter maturity is better at the market low and longer maturity is better when the recession is starting and longer term rates drop faster.
GE/MSNBC/Pravda/Jim Cramer continues negative as Democrat-socialist tax increases begin this January.
It looks like we are close to recent lows. Jim Cramer is recognizing that government meddling is the cause of the current economic problems.
Yesterday world markets were reeling again because unions have the power to destroy socialist economies where the leftist idiot-politicians give into union coercion and then the unions think they paid into their 50-55 yr. age retirement programs when in fact they are grossly overpaid, inefficient and in the union because Greek socialist unions are for lazy nasty people unlike decent unions in free economies.
World Markets
Asian markets were down with underlying stability last night. Shanghai down -1.2%, Hong Kong down -0.6%, India up 1%, Jakarta up 0.7%, and Japan down -2%.
European markets are flat in a range of about -0.1% to +0.2% this morning about half way through their day.
US pre-market futures are up 0.8% this morning. We believe the market will now bounce higher as people realized the largely faked Obama socialists recovery is not fading, it just was not as good as the lying Obama socialists would have American's believe. The real worry is a double dip next year as the idiotic socialist tax and throwaway spending begins. They plan to tax the productive people and throw it to the tyranny of leftist pigs; the lazy, the ignorant, the incompetent, the illegal, the criminals, and the perverts.
America's greatest threat is Obama's big White House toilet bowl of Afro-Malaysian-Muslim socialism
Never before have Americans been faced with a president advancing the causes of a coalition of leftist, the lazy, the ignorant, the incompetent, the illegal, the criminals, and the perverts. However, Obama is pretty much exposed now for what he represents and we are seeing the leftists being defeated in most regions of our country. It is the intent of the leftists to create a permanent underclass in America of leftist, the lazy, the ignorant, the incompetent, the illegal, and the perverts so that the socialists will have the absolute tyranny of Communism. This trend is growing in the world even though Communism has been a long-term economic and social failure everywhere it has been instituted. In the transition though the Marxists can make a lot of money. Just look at the salary increases their friends and relatives get through corruption of nepotism and influence peddling. Look at the sudden acquired wealth of Obama's family in the last six years. So it is the red brigade that brings down the economy that gets rich by making deals and stealing the spoils. But history tells us the next stage becomes extortion and murder and then the refugees start to flee the socialist oppression. Finally the reds build walls to imprison their populations to extort the last bit from them. Once the socialist get their criminal majority they are virtually impossible to stop. Remember the National Socialism of Hitler and the Communism of Stalin worked the same way and was arrived at in free elections.
Wednesday, June 30, 2010
Tuesday, June 29, 2010
Financial Regulation loses two votes
Financial Regulation loses two votes
Due to a death and a vote switch the new Wall Street regulations could be at risk.
The first hurricane of the season could be shut down BP repair work and puts other deep-water rigs at risk.
World Markets:
We expect the EURO will continue to decline and help European sales such that the prudent plan to cut 25% from the government labor force will succeed.
Greek Communists strike throwing EU austerity programs up for ridicule. Tourists in Greece are caught in the middle. Until Greece is thrown out of the EU or the Greek Government actually takes action the Greek government and unions will continue to destabilize world finances because Greece is the poster child for the destructive capability of unions that bankrupt governments. Greece is a poster child for why Obama's bailout of the unions and government job stimulation is the most destructive action Obama has taken to date.
Economic Calendar
Last week:
GDP Deflator Third Estimate Q1 another unexpected downwardly revision to first quarter GDP growth (2.7 percent vs. 3.0 percent), with a large reduction in first quarter final sales growth to 0.8 percent from 1.4 percent. This is Obama fraud in fabricating the high initial numbers so his liberals, socialists, and communists could claim an robust 3+% recovery and then switch gears and lower the first quarter numbers so that the second quarter do not show a serious double dip. That is the way communist countries have always operated. They are pretend societies where people pretend to have real work and pretend not to be starving. Their governments hire 200 people to do the work of 50 people just to pretend the economy is robust.
U Michigan Sentiment - Final June rose to 76% from 75.5%. - Good news
Yesterday
Personal Income May rose 0.4% the same as initially reported last month. -Good news
Personal Spending May up 0.2% better than the 0% reported last month. - Good news
PCE prices up 0.2% or 2.4% per year- good and not inflationary
Today
Jun 29 9:00 AM Case-Shiller 20-city Index Apr
Jun 29 10:00 AM Consumer Confidence Jun
The Week Ahead
Jun 30 8:15 AM ADP Employment Change Jun
Jun 30 9:45 AM Chicago PMI Jun
Jun 30 10:30 AM Crude Inventories 06/26
Jul 1 8:30 AM Continuing Claims 06/19
Jul 1 8:30 AM Initial Claims 06/26
Jul 1 10:00 AM Construction Spending May
Jul 1 10:00 AM ISM Index Jun
Jul 1 10:00 AM Pending Home Sales May
Jul 1 2:00 PM Auto Sales Jun
Jul 1 2:00 PM Truck Sales Jun
Jul 2 8:30 AM Nonfarm Payrolls Jun
Jul 2 8:30 AM Unemployment Rate Jun
Jul 2 8:30 AM Hourly Earnings Jun
Jul 2 8:30 AM Average Workweek Jun
Jul 2 10:00 AM Factory Orders May
Market Outlook June 29, 2010
Market volume was 24% lower than usual on the slight market decline. That is generally a good sign. But until Greece gets spending under control the government bond investors will be in distress. The low returns they receive are only justified by expected low risk. As risk increased the EU debt problem will become relentless because interest rates will increase and people will stop buying their bonds.
GE/Pravda/Jim Cramer continues to become more negative and they are usually 180 degrees out of phase.
It looks like we are close to recent lows. But now he is admitting that government meddling is the cause of the current economic problems.
Today world markets are reeling again because unions have so much power to destroy socialist economies where the leftist give into their coercion and then the unions think they paid into their 50-55 yr. age retirement programs when the taxpayers are the ones who did.
World Markets
Asian markets were down sharply last night. Shanghai down -4.3%, Hong Kong down -2.5%, India down -1.4%, and Japan down -1.3%.
European markets are down in a range of about -1% to -2.9% this morning about half way through their day.
US pre-market futures are down -1% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Never before have Americans been faced with a president advancing the causes of a coalition of leftist, the lazy, the ignorant, the incompetent, the illegal, and the perverts. However, Obama is pretty much exposed now for what he represents and we are seeing the leftists being defeated in most regions of our country. It is the intent of the leftists to create a permanent underclass in America of leftist, the lazy, the ignorant, the incompetent, the illegal, and the perverts so that the socialists will have the absolute power of Communism. This trend is growing in the world even though Communism has been a long-term economic and social failure everywhere it has been instituted. In the transition though the Marxists can make a lot of money. Just look at the salary increases their friends and relatives get through corruption of nepotism and influence peddling. Look at Obama's family in the last six years. So it is the red brigade that brings down the economy that gets rich. But history tells us the next stage becomes extortion and murder and then the refugees start to flee the oppression. Finally the reds build walls to imprison their populations to extort the last bit from them. Once they get started they are virtually impossible to stop.
Due to a death and a vote switch the new Wall Street regulations could be at risk.
The first hurricane of the season could be shut down BP repair work and puts other deep-water rigs at risk.
World Markets:
We expect the EURO will continue to decline and help European sales such that the prudent plan to cut 25% from the government labor force will succeed.
Greek Communists strike throwing EU austerity programs up for ridicule. Tourists in Greece are caught in the middle. Until Greece is thrown out of the EU or the Greek Government actually takes action the Greek government and unions will continue to destabilize world finances because Greece is the poster child for the destructive capability of unions that bankrupt governments. Greece is a poster child for why Obama's bailout of the unions and government job stimulation is the most destructive action Obama has taken to date.
Economic Calendar
Last week:
GDP Deflator Third Estimate Q1 another unexpected downwardly revision to first quarter GDP growth (2.7 percent vs. 3.0 percent), with a large reduction in first quarter final sales growth to 0.8 percent from 1.4 percent. This is Obama fraud in fabricating the high initial numbers so his liberals, socialists, and communists could claim an robust 3+% recovery and then switch gears and lower the first quarter numbers so that the second quarter do not show a serious double dip. That is the way communist countries have always operated. They are pretend societies where people pretend to have real work and pretend not to be starving. Their governments hire 200 people to do the work of 50 people just to pretend the economy is robust.
U Michigan Sentiment - Final June rose to 76% from 75.5%. - Good news
Yesterday
Personal Income May rose 0.4% the same as initially reported last month. -Good news
Personal Spending May up 0.2% better than the 0% reported last month. - Good news
PCE prices up 0.2% or 2.4% per year- good and not inflationary
Today
Jun 29 9:00 AM Case-Shiller 20-city Index Apr
Jun 29 10:00 AM Consumer Confidence Jun
The Week Ahead
Jun 30 8:15 AM ADP Employment Change Jun
Jun 30 9:45 AM Chicago PMI Jun
Jun 30 10:30 AM Crude Inventories 06/26
Jul 1 8:30 AM Continuing Claims 06/19
Jul 1 8:30 AM Initial Claims 06/26
Jul 1 10:00 AM Construction Spending May
Jul 1 10:00 AM ISM Index Jun
Jul 1 10:00 AM Pending Home Sales May
Jul 1 2:00 PM Auto Sales Jun
Jul 1 2:00 PM Truck Sales Jun
Jul 2 8:30 AM Nonfarm Payrolls Jun
Jul 2 8:30 AM Unemployment Rate Jun
Jul 2 8:30 AM Hourly Earnings Jun
Jul 2 8:30 AM Average Workweek Jun
Jul 2 10:00 AM Factory Orders May
Market Outlook June 29, 2010
Market volume was 24% lower than usual on the slight market decline. That is generally a good sign. But until Greece gets spending under control the government bond investors will be in distress. The low returns they receive are only justified by expected low risk. As risk increased the EU debt problem will become relentless because interest rates will increase and people will stop buying their bonds.
GE/Pravda/Jim Cramer continues to become more negative and they are usually 180 degrees out of phase.
It looks like we are close to recent lows. But now he is admitting that government meddling is the cause of the current economic problems.
Today world markets are reeling again because unions have so much power to destroy socialist economies where the leftist give into their coercion and then the unions think they paid into their 50-55 yr. age retirement programs when the taxpayers are the ones who did.
World Markets
Asian markets were down sharply last night. Shanghai down -4.3%, Hong Kong down -2.5%, India down -1.4%, and Japan down -1.3%.
European markets are down in a range of about -1% to -2.9% this morning about half way through their day.
US pre-market futures are down -1% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Never before have Americans been faced with a president advancing the causes of a coalition of leftist, the lazy, the ignorant, the incompetent, the illegal, and the perverts. However, Obama is pretty much exposed now for what he represents and we are seeing the leftists being defeated in most regions of our country. It is the intent of the leftists to create a permanent underclass in America of leftist, the lazy, the ignorant, the incompetent, the illegal, and the perverts so that the socialists will have the absolute power of Communism. This trend is growing in the world even though Communism has been a long-term economic and social failure everywhere it has been instituted. In the transition though the Marxists can make a lot of money. Just look at the salary increases their friends and relatives get through corruption of nepotism and influence peddling. Look at Obama's family in the last six years. So it is the red brigade that brings down the economy that gets rich. But history tells us the next stage becomes extortion and murder and then the refugees start to flee the oppression. Finally the reds build walls to imprison their populations to extort the last bit from them. Once they get started they are virtually impossible to stop.
Monday, June 21, 2010
China devalues the dollar and opens a Pandora's box for China.
China devalues the dollar and opens a Pandora's box for China.
China linking the Huan to the dollar was like putting the dollar on the gold standard. De-linking will cause a spike in dollar devaluation that translates into a similar increase in inflation that actually would be helpful at this time. But the longer-term effect could be greater because the market will now anticipate further dollar instability. In the past the dollar and the Huan linkage made both currencies stronger because the oldest and newest powerful currencies seemed indestructible together. Now China opens the possibility of an unstable Huan just as much as it opens the possibility of an unstable dollar. America may just re-invent the markets with new products that render the older products obsolete. But that would take time and China has 4000 years of experience in that area.
GE/MSNBC/PRAVDA/ Jim Cramer. Said buy at the market top, sell at the market bottom and then said by when the market pulls back, and the markets surged and refused to set a new low for GE/MSNBC/PRAVDA/ Jim Cramer to get their listeners back in. So far they have lost their listeners about 20% relative to their listeners just buying and holding. Cramer keeps pointing out every time Apple advances but Apple has been range bound for six months. The children who use Apple products have bought 98% of the music they want to buy since the IPOD zombie culture began and music sales are said to be falling just as the children's school grades are falling. Apple is soon going to report unfortunate news and a 25% Apple pull back is quite possible along with the entire industry which Cramer spouted about last year. As soon as Cramer followers lose about 15% Cramer has amnesia and says he got out of that sector months ago. Remember that natural gas ETF that lost his listeners 30% last year?
How does Cramer get away with his hapless advice? Well he claims he changed his mind that he does actually several times so that he can pick and chose which opinion he held. For instance if the market goes up Monday to a new high he is likely to say buy on Monday night. Then if the market drops Tuesday he says sell Tuesday night. Then if the market is up two months later he recalls he said buy on Monday. It is called selective amnesia. Only this last time when the market bottomed out he was too late and still did not say buy. Likewise at the April high he did not have time to say sell and have the option of selective amnesia.
Cramer knows he missed the bottom so he is now saying the stock market should retreat to try to get the market to go lower. He claims the market is near its new high now. Fat chance.
World Markets:
China exudes confidence in world economic expansion as indicated by their softening of the link of the Huan and the Dollar.
Many people are now running out of the maximum 99 weeks of unemployment available. That will force many people to look for jobs or take unlisted handyman type jobs in the underground economy. As socialist raise taxes the underground economy becomes attractive to more people. It is a form of tax avoidance and a major part of the Greek and Italian economies. The US unemployment rate would already be falling if it were not for BP incompetence.
Economic Calendar
End of last week
Initial Claims 06/12 increased 2%… not good…but that is BP's fault but it will ramp up quickly and then stop growing. BP will pay those unemployed so BP not America will bear the cost of the oil spill.
Continuing Claims 06/5 increased 2%… not good… also BP's fault
CPI May was down -0.2% …very good
Core CPI May was up 0.1%… very good
Current Account Balance Q1 looked manipulated at $109Billion for the month… deficit is as bad as usual when Obama socialist continue to throw money to the likes of Chicago crime organizations such as ACORN
Leading Indicators May improved 0.4%… very good considering stocks were down sharply.
Philadelphia Fed Jun dropped from 21 to 8 … Not good for Philly but Philly is negligible and NYC surged earlier in the week
This Week
Jun 22 10:00 AM Existing Home Sales May
Jun 22 10:00 AM FHFA Housing Price Index Apr
Jun 23 10:00 AM New Home Sales May
Jun 23 10:30 AM Crude Inventories 06/19
Jun 23 2:15 PM FOMC Rate Decision Jun 23
Jun 24 8:30 AM Durable Orders May
Jun 24 8:30 AM Durable Orders ex Transportation May
Jun 24 8:30 AM Initial Claims 06/19
Jun 24 8:30 AM Continuing Claims 06/19
Jun 25 8:30 AM GDP - Third Estimate Q1
Jun 25 8:30 AM GDP Deflator Q1
Jun 25 9:55 AM U Michigan Sentiment - Final Jun
Market Outlook June 21, 2010
China exudes confidence in the world economy with exports up 48.5% in May and will relax the Dollar link making American products less expensive and more competitive.
The market failed to give up its gains thus far and stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
American socialists continue to pick up negative ratings in the polls.
World Markets
Asian markets were up sharply last night. Shanghai up 2.9%, Hong Kong up 3.1 %, India up 1.7%, S. Taiwan up 1.9%, and Japan up 2.4%.
European markets are up sharply in a range of about 1% to 1.6% this morning about half way through their day.
US pre-market futures are up 1.4% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A confident China, the gains in the euro, BP being forced to pay for their incompetence, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth destroying telecommunications growth and destroying value in the immature children's twitter stock sector.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
China linking the Huan to the dollar was like putting the dollar on the gold standard. De-linking will cause a spike in dollar devaluation that translates into a similar increase in inflation that actually would be helpful at this time. But the longer-term effect could be greater because the market will now anticipate further dollar instability. In the past the dollar and the Huan linkage made both currencies stronger because the oldest and newest powerful currencies seemed indestructible together. Now China opens the possibility of an unstable Huan just as much as it opens the possibility of an unstable dollar. America may just re-invent the markets with new products that render the older products obsolete. But that would take time and China has 4000 years of experience in that area.
GE/MSNBC/PRAVDA/ Jim Cramer. Said buy at the market top, sell at the market bottom and then said by when the market pulls back, and the markets surged and refused to set a new low for GE/MSNBC/PRAVDA/ Jim Cramer to get their listeners back in. So far they have lost their listeners about 20% relative to their listeners just buying and holding. Cramer keeps pointing out every time Apple advances but Apple has been range bound for six months. The children who use Apple products have bought 98% of the music they want to buy since the IPOD zombie culture began and music sales are said to be falling just as the children's school grades are falling. Apple is soon going to report unfortunate news and a 25% Apple pull back is quite possible along with the entire industry which Cramer spouted about last year. As soon as Cramer followers lose about 15% Cramer has amnesia and says he got out of that sector months ago. Remember that natural gas ETF that lost his listeners 30% last year?
How does Cramer get away with his hapless advice? Well he claims he changed his mind that he does actually several times so that he can pick and chose which opinion he held. For instance if the market goes up Monday to a new high he is likely to say buy on Monday night. Then if the market drops Tuesday he says sell Tuesday night. Then if the market is up two months later he recalls he said buy on Monday. It is called selective amnesia. Only this last time when the market bottomed out he was too late and still did not say buy. Likewise at the April high he did not have time to say sell and have the option of selective amnesia.
Cramer knows he missed the bottom so he is now saying the stock market should retreat to try to get the market to go lower. He claims the market is near its new high now. Fat chance.
World Markets:
China exudes confidence in world economic expansion as indicated by their softening of the link of the Huan and the Dollar.
Many people are now running out of the maximum 99 weeks of unemployment available. That will force many people to look for jobs or take unlisted handyman type jobs in the underground economy. As socialist raise taxes the underground economy becomes attractive to more people. It is a form of tax avoidance and a major part of the Greek and Italian economies. The US unemployment rate would already be falling if it were not for BP incompetence.
Economic Calendar
End of last week
Initial Claims 06/12 increased 2%… not good…but that is BP's fault but it will ramp up quickly and then stop growing. BP will pay those unemployed so BP not America will bear the cost of the oil spill.
Continuing Claims 06/5 increased 2%… not good… also BP's fault
CPI May was down -0.2% …very good
Core CPI May was up 0.1%… very good
Current Account Balance Q1 looked manipulated at $109Billion for the month… deficit is as bad as usual when Obama socialist continue to throw money to the likes of Chicago crime organizations such as ACORN
Leading Indicators May improved 0.4%… very good considering stocks were down sharply.
Philadelphia Fed Jun dropped from 21 to 8 … Not good for Philly but Philly is negligible and NYC surged earlier in the week
This Week
Jun 22 10:00 AM Existing Home Sales May
Jun 22 10:00 AM FHFA Housing Price Index Apr
Jun 23 10:00 AM New Home Sales May
Jun 23 10:30 AM Crude Inventories 06/19
Jun 23 2:15 PM FOMC Rate Decision Jun 23
Jun 24 8:30 AM Durable Orders May
Jun 24 8:30 AM Durable Orders ex Transportation May
Jun 24 8:30 AM Initial Claims 06/19
Jun 24 8:30 AM Continuing Claims 06/19
Jun 25 8:30 AM GDP - Third Estimate Q1
Jun 25 8:30 AM GDP Deflator Q1
Jun 25 9:55 AM U Michigan Sentiment - Final Jun
Market Outlook June 21, 2010
China exudes confidence in the world economy with exports up 48.5% in May and will relax the Dollar link making American products less expensive and more competitive.
The market failed to give up its gains thus far and stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
American socialists continue to pick up negative ratings in the polls.
World Markets
Asian markets were up sharply last night. Shanghai up 2.9%, Hong Kong up 3.1 %, India up 1.7%, S. Taiwan up 1.9%, and Japan up 2.4%.
European markets are up sharply in a range of about 1% to 1.6% this morning about half way through their day.
US pre-market futures are up 1.4% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A confident China, the gains in the euro, BP being forced to pay for their incompetence, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth destroying telecommunications growth and destroying value in the immature children's twitter stock sector.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
Friday, June 18, 2010
America's only hope is to throw the socialists out of office this November.
Rush Limbaugh is acting irresponsible now by defending BP. His old audience is turning him off. Conservatives also happen to be people who love the land and the wildlife not just the economic and political freedoms of America. Some one is giving Rush bad feedback. Rush is hurting conservatives now by acting so irresponsibly supporting a criminally negligent company that killed and maimed quite a few Americans and is hurting the Gulf economy.
According to Jim Cramer, Apple must have value because it has destroyed the value of much of the telecommunication's business. So says GE/MSNBC/PRAVDA/ Jim Cramer. This entire sector that Cramer picked as the very best to be in has been going down almost from the first day Cramer said wireless telecommunications was the place to be. Jim blames it on little powerful people who wear red pajamas all day. Only Jim knows what that means. Sounds like Jim is losing it completely.
The markets seem to do the direct opposite of what GE/MSNBC/Pravda wants it to do. From that, one must surmise that now that Apple is again at it's 52 wk high this is the time to get out of Apple ASAP because the teenybopper based twitter/facebook market has no legs. The Apple notebook is like the clipboard that everyone carried forty years ago because it made them look like a doctor or an engineer. That lasted about a year because it was more of an inconvenience than a help and people kept misplacing them. Because Apple apparently markets primarily to children, adults find Apple's products difficult to use with adult fingers and eyes. Sooner or later daddy and mommy will see that junior's grades are going down because of Apple. Then daddy and mommy will no longer buy junior his apple toys.
World Markets:
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Yesterday
Housing Starts May were down to 593K from 659K which is a good sign because it does not make economic sense to be building houses when there is already such a glut that has caused the home prices to decline and put people underwater.
Building Permits May were down to 574K from 606k which is good for the same reason because we need home prices to rise at least 10%.
PPI May declined to -0.3% from -0.1% last month. This is deflationary pressure that will cause a collapse in the price of Gold if it continues. It means that the FED can continue to keep rates low for the time being.
Core PPI May remained at 0.2% which is very low (good) but could be dangerous if it goes negative as it has in Japan.
Capacity Utilization May increased to 74.3% from 73.7% which means there has not been a double dip in the economy to date.
Industrial Production in May increased 1.2% after increasing 0.8% last month. That means growth is accelerating. That means there is no double dip and no stagnation but rather accelerated growth and we are on an economic upswing now if this continues.
Crude Inventories 06/12 increased 1.6M the first increase in months and could show up at the pump as a decline in the price of gasoline.
Initial Claims 06/12 increased 2%… not good…but that is BP's fault but it will ramp up quickly and then stop growing.
Continuing Claims 06/5 increased 2%… not good… also BP's fault
CPI May was down -0.2% …very good
Core CPI May was up 0.1%… very good
Current Account Balance Q1 looked manipulated at $109Billion for the month… deficit is as bad as usual when Obama socialist continue to throw money to the likes of crime organizations such as ACORN
Leading Indicators May improved 0.4%… very good considering stocks are down.
Philadelphia Fed Jun dropped from 21 to 8 … Not good for Philly but Philly is negligible and NYC surged earlier this week
Many people are now running out of the maximum 99 weeks of unemployment available. That will force many people to look for jobs or take unlisted handyman type jobs in the underground economy. As socialist raise taxes the underground economy becomes attractive to more people. It is a form of tax avoidance and a major part of the Greek and Italian economies. The US unemployment rate would already be falling if it were not for BP incompetence.
Market Outlook June 18, 2010
The market failed to give up its gains thus far and stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more. European countries are now reporting the same.
World Markets
Asian markets were neutral again last night. Shanghai down -1.8%, Hong Kong up 0.7 %, India down -0.3%, S. Korea up 0.2%, and Japan down -0%.
European markets are flat in a range of about -0.2% to 0.2% this morning about half way through their day.
US pre-market futures are flat this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
According to Jim Cramer, Apple must have value because it has destroyed the value of much of the telecommunication's business. So says GE/MSNBC/PRAVDA/ Jim Cramer. This entire sector that Cramer picked as the very best to be in has been going down almost from the first day Cramer said wireless telecommunications was the place to be. Jim blames it on little powerful people who wear red pajamas all day. Only Jim knows what that means. Sounds like Jim is losing it completely.
The markets seem to do the direct opposite of what GE/MSNBC/Pravda wants it to do. From that, one must surmise that now that Apple is again at it's 52 wk high this is the time to get out of Apple ASAP because the teenybopper based twitter/facebook market has no legs. The Apple notebook is like the clipboard that everyone carried forty years ago because it made them look like a doctor or an engineer. That lasted about a year because it was more of an inconvenience than a help and people kept misplacing them. Because Apple apparently markets primarily to children, adults find Apple's products difficult to use with adult fingers and eyes. Sooner or later daddy and mommy will see that junior's grades are going down because of Apple. Then daddy and mommy will no longer buy junior his apple toys.
World Markets:
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Yesterday
Housing Starts May were down to 593K from 659K which is a good sign because it does not make economic sense to be building houses when there is already such a glut that has caused the home prices to decline and put people underwater.
Building Permits May were down to 574K from 606k which is good for the same reason because we need home prices to rise at least 10%.
PPI May declined to -0.3% from -0.1% last month. This is deflationary pressure that will cause a collapse in the price of Gold if it continues. It means that the FED can continue to keep rates low for the time being.
Core PPI May remained at 0.2% which is very low (good) but could be dangerous if it goes negative as it has in Japan.
Capacity Utilization May increased to 74.3% from 73.7% which means there has not been a double dip in the economy to date.
Industrial Production in May increased 1.2% after increasing 0.8% last month. That means growth is accelerating. That means there is no double dip and no stagnation but rather accelerated growth and we are on an economic upswing now if this continues.
Crude Inventories 06/12 increased 1.6M the first increase in months and could show up at the pump as a decline in the price of gasoline.
Initial Claims 06/12 increased 2%… not good…but that is BP's fault but it will ramp up quickly and then stop growing.
Continuing Claims 06/5 increased 2%… not good… also BP's fault
CPI May was down -0.2% …very good
Core CPI May was up 0.1%… very good
Current Account Balance Q1 looked manipulated at $109Billion for the month… deficit is as bad as usual when Obama socialist continue to throw money to the likes of crime organizations such as ACORN
Leading Indicators May improved 0.4%… very good considering stocks are down.
Philadelphia Fed Jun dropped from 21 to 8 … Not good for Philly but Philly is negligible and NYC surged earlier this week
Many people are now running out of the maximum 99 weeks of unemployment available. That will force many people to look for jobs or take unlisted handyman type jobs in the underground economy. As socialist raise taxes the underground economy becomes attractive to more people. It is a form of tax avoidance and a major part of the Greek and Italian economies. The US unemployment rate would already be falling if it were not for BP incompetence.
Market Outlook June 18, 2010
The market failed to give up its gains thus far and stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more. European countries are now reporting the same.
World Markets
Asian markets were neutral again last night. Shanghai down -1.8%, Hong Kong up 0.7 %, India down -0.3%, S. Korea up 0.2%, and Japan down -0%.
European markets are flat in a range of about -0.2% to 0.2% this morning about half way through their day.
US pre-market futures are flat this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
Thursday, June 17, 2010
Some Congressmen in 2008 shorted the stocks of companies over which they had insider information or congressional oversight... said WSJ in its first p
Some Congressmen in 2008 shorted the stocks of companies over which they had insider information or congressional oversight... said WSJ in its first paragraph this morning.
Wall Street reported that some congressmen can and did short and therefore aggravate the panic that crushed the American economy in 2008. Investing in America is no problem just like buying gifts for ones husband or wife. But shorting America is tantamount to trying to poison one's mate and is a despicable behavior and should be illegal for American representative just as it is already illegal for government employees to short companies they regulate. It is akin to taking out a life insurance policy on someone because it implies you hope and expect they will die. When a congressman shorted a bank stock he obviously was not hoping that bank would survive unless that congressman pleads stupidity or mental incapacity.
Obama is selling Americans short with his, "Never let a crisis go to waste" socialist philosophy. Again Obama is betting against Americans because instead of managing a crisis he wishes to aggravate and use every crisis for his socialist agenda advantage the way the German National Socialists (Nazis) used every crises to get the votes needed to overthrow the German democratic Weimar Republic. After a while it became obvious the NAZI were not just using crises they were creating them. They even burned down the building their congress used. Like a good Nazi, Obama plans to use the BP oil spill to repress America with a cap n trade system to redistribute wealth to corrupt politicians like Al Gore. Gore is one who will gain the most from the fraud involved in blaming every natural environmental calamity on humans. Environmentalism has become the newest socialist religion akin to the belief that God rewards or punishes mankind for mans behavior. The only difference is the socialist do not believe in God they believe it is mother nature who is punishing man with volcanoes, floods, and earthquakes caused by mans sins against mother nature. Thou shall have no other gods before environmentalism! George Soros, Obama's financial benefactor says he wants the collapse of the western free market because a free market requires individual rights and liberty. He thinks the collapse will happen in a year or two.
Jim Cramer must be back on his medication, as he seemed rational yesterday. Apple profits are akin to selling alcohol and drugs to minors. They are getting American youth hooked on games that are just another distraction, an immature fixation on emotional highs, and a delusion that such a waste of their time gives them long-term social status. Apple turns students into foolish and ignorant technology groupies. Jim Cramer thinks Apple is the way of the future. More rational commentators think Apple is becoming a children's toy and just another game manufacturer exploiting children who lack maturity, common sense, and smarts. The deluded children destroy their future with unstable self-esteem based on reward for nonsense when the children should be home studying their real books. Apple is no more technologically advanced than the folks who sold those pants a hundred years ago with the belts that buckled up at the boys nipples… or the folks selling the pants to idiots today with the pant crotch down below their knees. Apple is just a modern hustler and depends on creating a market from the future morons of America who today think Apple makes them look cool and fashionable.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. Socialist unions in Britain are preemptively demonstrating against common sense budget tightening. Socialists in France riot against raising the retirement age to 62. Socialists in Greece riot against having to live within their means.
It will be necessary in America to claw back the wealth that the city, state, and federal employee unions have stolen from the cities, states, and federal government by corrupting the arbitrage process and putting in leftist judges who side with the unions to bankrupt Americans.
When the Tea Party wins it will also be necessary to impeach the leftist judges who have no constitutional right to legislate and tax citizens in nations that follow the American constitution model. GM unions and city, state and federal worker pension funds must be nationalized and the money taken to support the Social Security system. The ALCU and unions need to be regulated and should pay taxes to replenish Social Security and Medicaid that they have savaged with costly litigation. The leftists get leftist judges to give unconstitutional and absurd decisions in favor of other leftists. Louisiana is known to have a county where this corruption is rampant and juries and judges can be bought by the dozen. That is where most class action suits are filed in America. That is pure and unadulterated trial lawyer corruption that must be ended.
This leveling of the playing field will provide the incentive for the corrupt leftist unions and politicians to join the productive worker force, the only producers of wealth, the only people who can pay their own way and support others with genuine needs. The Tea Party is the taxpayer's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from taxpayers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that. Every productive American knows that.
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Yesterday
Housing Starts May were down to 593K from 659K which is a good sign because it does not make economic sense to be building houses when there is already such a glut that has caused the home prices to decline and put people underwater.
Building Permits May were down to 574K from 606k which is good for the same reason because we need home prices to rise at least 10%.
PPI May declined to -0.3% from -0.1% last month. This is deflationary pressure that will cause a collapse in the price of Gold if it continues. It means that the FED can continue to keep rates low for the time being.
Core PPI May remained at 0.2% which is very low (good) but could be dangerous if it goes negative as it has in Japan.
Capacity Utilization May increased to 74.3% from 73.7% which means there has not been a double dip in the economy to date.
Industrial Production in May increased 1.2% after increasing 0.8% last month. That means growth is accelerating. That means there is no double dip and no stagnation but rather accelerated growth and we are on an economic upswing now if this continues.
Crude Inventories 06/12 increased 1.6M the first increase in months and could show up at the pump as a decline in the price of gasoline.
This week
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 17, 2010
Britain reported continued economic growth, i.e. no double dip. Remember Britain confirmed the recovery before it happened in America and now they are confirming continued recovery, i.e. no double dip. That should bode well for the markets this week.
The market stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more. European countries are now reporting the same.
World Markets
Asian markets were neutral last night. Shanghai down -0.4%, Hong Kong up 0.4 %, India up 0.8%, S. Korea up 0.2%, and Japan down -0.7%.
European markets are up a range of about 0.6% to 0.8% this morning about half way through their day.
US pre-market futures are up 0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for government pretend work and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. Government politicians run on slush funds. That is why the Obamas went from community activist poverty to millionaires overnight. His wife's employer got a multimillion dollar federal boost and she got a $500,000 income when Obama became Senator. Fundraising is all Obama was been doing for 50 days while oil poured into the gulf. You buy their votes by contributing to their campaigns and favorite charities and by hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or your lobbyist?
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM here in the USA back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages. We have to vote the socialist out of office as soon as possible. But we can't have Republican socialist appeasers like McCain either.
Wall Street reported that some congressmen can and did short and therefore aggravate the panic that crushed the American economy in 2008. Investing in America is no problem just like buying gifts for ones husband or wife. But shorting America is tantamount to trying to poison one's mate and is a despicable behavior and should be illegal for American representative just as it is already illegal for government employees to short companies they regulate. It is akin to taking out a life insurance policy on someone because it implies you hope and expect they will die. When a congressman shorted a bank stock he obviously was not hoping that bank would survive unless that congressman pleads stupidity or mental incapacity.
Obama is selling Americans short with his, "Never let a crisis go to waste" socialist philosophy. Again Obama is betting against Americans because instead of managing a crisis he wishes to aggravate and use every crisis for his socialist agenda advantage the way the German National Socialists (Nazis) used every crises to get the votes needed to overthrow the German democratic Weimar Republic. After a while it became obvious the NAZI were not just using crises they were creating them. They even burned down the building their congress used. Like a good Nazi, Obama plans to use the BP oil spill to repress America with a cap n trade system to redistribute wealth to corrupt politicians like Al Gore. Gore is one who will gain the most from the fraud involved in blaming every natural environmental calamity on humans. Environmentalism has become the newest socialist religion akin to the belief that God rewards or punishes mankind for mans behavior. The only difference is the socialist do not believe in God they believe it is mother nature who is punishing man with volcanoes, floods, and earthquakes caused by mans sins against mother nature. Thou shall have no other gods before environmentalism! George Soros, Obama's financial benefactor says he wants the collapse of the western free market because a free market requires individual rights and liberty. He thinks the collapse will happen in a year or two.
Jim Cramer must be back on his medication, as he seemed rational yesterday. Apple profits are akin to selling alcohol and drugs to minors. They are getting American youth hooked on games that are just another distraction, an immature fixation on emotional highs, and a delusion that such a waste of their time gives them long-term social status. Apple turns students into foolish and ignorant technology groupies. Jim Cramer thinks Apple is the way of the future. More rational commentators think Apple is becoming a children's toy and just another game manufacturer exploiting children who lack maturity, common sense, and smarts. The deluded children destroy their future with unstable self-esteem based on reward for nonsense when the children should be home studying their real books. Apple is no more technologically advanced than the folks who sold those pants a hundred years ago with the belts that buckled up at the boys nipples… or the folks selling the pants to idiots today with the pant crotch down below their knees. Apple is just a modern hustler and depends on creating a market from the future morons of America who today think Apple makes them look cool and fashionable.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. Socialist unions in Britain are preemptively demonstrating against common sense budget tightening. Socialists in France riot against raising the retirement age to 62. Socialists in Greece riot against having to live within their means.
It will be necessary in America to claw back the wealth that the city, state, and federal employee unions have stolen from the cities, states, and federal government by corrupting the arbitrage process and putting in leftist judges who side with the unions to bankrupt Americans.
When the Tea Party wins it will also be necessary to impeach the leftist judges who have no constitutional right to legislate and tax citizens in nations that follow the American constitution model. GM unions and city, state and federal worker pension funds must be nationalized and the money taken to support the Social Security system. The ALCU and unions need to be regulated and should pay taxes to replenish Social Security and Medicaid that they have savaged with costly litigation. The leftists get leftist judges to give unconstitutional and absurd decisions in favor of other leftists. Louisiana is known to have a county where this corruption is rampant and juries and judges can be bought by the dozen. That is where most class action suits are filed in America. That is pure and unadulterated trial lawyer corruption that must be ended.
This leveling of the playing field will provide the incentive for the corrupt leftist unions and politicians to join the productive worker force, the only producers of wealth, the only people who can pay their own way and support others with genuine needs. The Tea Party is the taxpayer's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from taxpayers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that. Every productive American knows that.
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Yesterday
Housing Starts May were down to 593K from 659K which is a good sign because it does not make economic sense to be building houses when there is already such a glut that has caused the home prices to decline and put people underwater.
Building Permits May were down to 574K from 606k which is good for the same reason because we need home prices to rise at least 10%.
PPI May declined to -0.3% from -0.1% last month. This is deflationary pressure that will cause a collapse in the price of Gold if it continues. It means that the FED can continue to keep rates low for the time being.
Core PPI May remained at 0.2% which is very low (good) but could be dangerous if it goes negative as it has in Japan.
Capacity Utilization May increased to 74.3% from 73.7% which means there has not been a double dip in the economy to date.
Industrial Production in May increased 1.2% after increasing 0.8% last month. That means growth is accelerating. That means there is no double dip and no stagnation but rather accelerated growth and we are on an economic upswing now if this continues.
Crude Inventories 06/12 increased 1.6M the first increase in months and could show up at the pump as a decline in the price of gasoline.
This week
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 17, 2010
Britain reported continued economic growth, i.e. no double dip. Remember Britain confirmed the recovery before it happened in America and now they are confirming continued recovery, i.e. no double dip. That should bode well for the markets this week.
The market stayed above its 50-day moving average (50DMA) further reducing worries that we might have entered a bear market. The next potential resistance area is the (100 DMA) and then the March 15 highs.
Global equities are still at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter. It now looks more like a stock market rally and bonds will hold their own with little inflationary danger.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. China is booming again. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply the rest of that year.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more. European countries are now reporting the same.
World Markets
Asian markets were neutral last night. Shanghai down -0.4%, Hong Kong up 0.4 %, India up 0.8%, S. Korea up 0.2%, and Japan down -0.7%.
European markets are up a range of about 0.6% to 0.8% this morning about half way through their day.
US pre-market futures are up 0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American Internet bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for government pretend work and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. Government politicians run on slush funds. That is why the Obamas went from community activist poverty to millionaires overnight. His wife's employer got a multimillion dollar federal boost and she got a $500,000 income when Obama became Senator. Fundraising is all Obama was been doing for 50 days while oil poured into the gulf. You buy their votes by contributing to their campaigns and favorite charities and by hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or your lobbyist?
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM here in the USA back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages. We have to vote the socialist out of office as soon as possible. But we can't have Republican socialist appeasers like McCain either.
Wednesday, June 16, 2010
Jim Cramer last night begged his audience to sell their stock today.
Jim Cramer last night begged his audience to sell their stock today.
Jim Cramer told his audience to buy at the market peak in late April,
Then he told them to stand firm and watch as the market plummeted,
Then he told them to sell at the market bottom,
Then two days ago he said to buy on the next market drop which was supposed to happen yesterday or today at the latest due to what he referred to as an options "gremlin" this Friday,
Then he was stunned and disappointed last night that the markets instead surged more than 2% in seven hours and his audience missed the bull market,
So last night he told his audience to sell today because the market is foolish and should go down.
Ge/MSNBC/JimCramer/Pravda is an example of the intellectual vacuum in the leftist media.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive.
Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American bandwidth. Best Buy Co., the world’s largest consumer-electronics retailer, reported first-quarter earnings increased to 36 cents a share. Sales at U.S. stores open at least 14 months rose 1.9 percent. But Best Buy was slammed for pointing out that Apple and broadband capacity are failing now and that even AT&T is saturated and cannot handle all the mindless teenyboppers who are clogging the airwaves with their twitter. Apple growth has thankfully finally stalled and illustrates the foolishness of building a time wasting industry to distract students who need to study if they want to live productive lives when they grow up. Apple turns students into foolish and ignorant technology groupies. Jim Cramer thinks Apple is the way of the future. More rational commentators think Apple is becoming a children's toy and game manufacturer and is exploiting children who lack maturity, common sense, and smarts and thereby destroying their future with nonsense when the children should be home studying their books.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. Socialist unions in Britain are preemptively demonstrating against common sense budget tightening.
It will be necessary in America to claw back the wealth that the city, state and federal employee unions have stolen from the cities, states, and federal government by corrupting the arbitrage process and putting in leftist judges who side with the unions to bankrupt Americans.
When the Tea Party wins it will also be necessary to impeach the leftist judges who have no constitutional right to legislate and tax citizens in nations that follow the American constitution model. GM unions and city, state and federal worker pension funds must be nationalized and the money taken to support the Social Security system. The ALCU and unions need to be regulated and should pay taxes to replenish Social Security and Medicaid that they have savaged with costly litigation. The leftists get leftist judges to give unconstitutional and absurd decisions in favor of other leftists. Louisiana has a county where this corruption is rampant and juries and judges can be bought by the dozen.
This leveling of the playing field will provide the incentive for the corrupt leftist unions and politicians to join the productive worker force, the only producers of wealth, the only people who can pay their own way and support others. The Tea Party is the taxpayer's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from taxpayers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that. Every productive American knows that.
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Today
Jun 16 8:30 AM Housing Starts May
Jun 16 8:30 AM Building Permits May
Jun 16 8:30 AM PPI May
Jun 16 8:30 AM Core PPI May
Jun 16 9:15 AM Capacity Utilization May
Jun 16 9:15 AM Industrial Production May
Jun 16 10:30 AM Crude Inventories 06/12
This week
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 16, 2010
The market broke above its 50-day moving average ending worries that we might already be in a bear market. During a bear market the rallies usually end when indices hit the 50 DMA.
Global equities are now at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more.
World Markets
Asian markets were up last night. Shanghai up closed %, Hong Kong up closed %, India up 0.3%, S. Korea up 0.9%, and Japan up 1.8%.
European markets are flat a range of about -0.2% to 0.2% this morning about half way through their day.
US pre-market futures are down -0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for pretend jobs and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. They run on slush funds. That is what Obama has been doing while oil pours into the gulf. You buy their votes by contributing to their campaigns and favorite charities and hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or a lobbyist.
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages.
Jim Cramer told his audience to buy at the market peak in late April,
Then he told them to stand firm and watch as the market plummeted,
Then he told them to sell at the market bottom,
Then two days ago he said to buy on the next market drop which was supposed to happen yesterday or today at the latest due to what he referred to as an options "gremlin" this Friday,
Then he was stunned and disappointed last night that the markets instead surged more than 2% in seven hours and his audience missed the bull market,
So last night he told his audience to sell today because the market is foolish and should go down.
Ge/MSNBC/JimCramer/Pravda is an example of the intellectual vacuum in the leftist media.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive.
Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American bandwidth. Best Buy Co., the world’s largest consumer-electronics retailer, reported first-quarter earnings increased to 36 cents a share. Sales at U.S. stores open at least 14 months rose 1.9 percent. But Best Buy was slammed for pointing out that Apple and broadband capacity are failing now and that even AT&T is saturated and cannot handle all the mindless teenyboppers who are clogging the airwaves with their twitter. Apple growth has thankfully finally stalled and illustrates the foolishness of building a time wasting industry to distract students who need to study if they want to live productive lives when they grow up. Apple turns students into foolish and ignorant technology groupies. Jim Cramer thinks Apple is the way of the future. More rational commentators think Apple is becoming a children's toy and game manufacturer and is exploiting children who lack maturity, common sense, and smarts and thereby destroying their future with nonsense when the children should be home studying their books.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. Socialist unions in Britain are preemptively demonstrating against common sense budget tightening.
It will be necessary in America to claw back the wealth that the city, state and federal employee unions have stolen from the cities, states, and federal government by corrupting the arbitrage process and putting in leftist judges who side with the unions to bankrupt Americans.
When the Tea Party wins it will also be necessary to impeach the leftist judges who have no constitutional right to legislate and tax citizens in nations that follow the American constitution model. GM unions and city, state and federal worker pension funds must be nationalized and the money taken to support the Social Security system. The ALCU and unions need to be regulated and should pay taxes to replenish Social Security and Medicaid that they have savaged with costly litigation. The leftists get leftist judges to give unconstitutional and absurd decisions in favor of other leftists. Louisiana has a county where this corruption is rampant and juries and judges can be bought by the dozen.
This leveling of the playing field will provide the incentive for the corrupt leftist unions and politicians to join the productive worker force, the only producers of wealth, the only people who can pay their own way and support others. The Tea Party is the taxpayer's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from taxpayers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that. Every productive American knows that.
Economic Calendar
Earlier this week
Export Prices ex-ag. May up only 0.6% about half of last month allowing the FED to keep interest rates low.
Import Prices ex-oil May also up only 0.5% the same as last month.
Empire Manufacturing Survey Jun: The Federal Reserve Bank of New York’s general economic index rose to 19.6, an 11th consecutive month of improvements. Readings greater than zero signal expansion in the so-called Empire State Index that covers New York, northern New Jersey and southern Connecticut.
Net long-term Treasury International Capital out-flows for April were down to 83 $Billion from 140.5$B the month before.
Today
Jun 16 8:30 AM Housing Starts May
Jun 16 8:30 AM Building Permits May
Jun 16 8:30 AM PPI May
Jun 16 8:30 AM Core PPI May
Jun 16 9:15 AM Capacity Utilization May
Jun 16 9:15 AM Industrial Production May
Jun 16 10:30 AM Crude Inventories 06/12
This week
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 16, 2010
The market broke above its 50-day moving average ending worries that we might already be in a bear market. During a bear market the rallies usually end when indices hit the 50 DMA.
Global equities are now at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time.
The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years. That economic engine is working once more.
World Markets
Asian markets were up last night. Shanghai up closed %, Hong Kong up closed %, India up 0.3%, S. Korea up 0.9%, and Japan up 1.8%.
European markets are flat a range of about -0.2% to 0.2% this morning about half way through their day.
US pre-market futures are down -0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive. Apple-like technology that exploits immature children and adults is losing its luster and consuming critically needed American bandwidth.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for pretend jobs and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. They run on slush funds. That is what Obama has been doing while oil pours into the gulf. You buy their votes by contributing to their campaigns and favorite charities and hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or a lobbyist.
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages.
Tuesday, June 15, 2010
Every intelligent American business and individual is now looking for ways to take profits this year
Every intelligent American business and individual is now looking for ways to take profits this year to avoid the high Obama taxes next year. That bodes well for the market this year. The only hope for next year is to throw every possible leftist out of office in November and cut taxes and government spending.
Commodities rallied as growth in European industrial production added to signs the global economic rebound is strengthening.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. It will be necessary to claw back the wealth that the state and federal employee unions have stolen from the states by corrupting the arbitrage process and putting in leftist judges. It will also be necessary to try and impeach the leftist judges who have no constitutional right to legislate and tax citizens in most nations that follow the American model. GM union and state and federal worker pension funds must be nationalized and the money used to reduce taxes on the workers who pay the taxes. This leveling of the playing field will provide the incentive for corrupt unions and politicians to join the workers, the only producers of wealth, the only people who can pay their own way and support others. The Tea Party and Republican Party are the real worker's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from real workers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that.
Economic Calendar
Today
Jun 15 8:30 AM Export Prices ex-ag. May
Jun 15 8:30 AM Import Prices ex-oil May
Jun 15 8:30 AM Empire Manufacturing Survey Jun
Jun 15 9:00 AM Net Long-Term TIC Flows April
This week
Jun 16 8:30 AM Housing Starts May
Jun 16 8:30 AM Building Permits May
Jun 16 8:30 AM PPI May
Jun 16 8:30 AM Core PPI May
Jun 16 9:15 AM Capacity Utilization May
Jun 16 9:15 AM Industrial Production May
Jun 16 10:30 AM Crude Inventories 06/12
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 15, 2010
The VIX or fear index seems to be subsiding now. See:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=
The market had very low volume yesterday and could not sustain the rally due to Greek bonds being rated as junk. Ultimately Greece will have an economic depression if the EU does not bail them out. If the EU does bail out the bond holders then the malaise will overtake the EU. This is a problem that typically takes one or two decades to resolve.
The biggest decline the past month for global equities in 15 months has left stocks at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time. The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years.
GE/MSNBC/Cramer/Pravda's Jim Cramer told people to sell at the bottom and now he is telling people to buy but that we are in a narrow trading range with the market bottom already in place. Don't believe anything that MSNBC/Pravda talking heads have to say. The only hope now, and it is a growing possibility, is that we throw out most of the corrupt American communists and socialists in November.
World Markets
Asian markets were flat last night. Shanghai up 0.3 %, Hong Kong up 0.1%, India up 0.1%, and Japan up 0.1%.
European markets are up a range of about 0.4% to 0.7% this morning about half way through their day.
US pre-market futures are up 0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for pretend jobs and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. They run on slush funds. That is what Obama has been doing while oil pours into the gulf. You buy their votes by contributing to their campaigns and favorite charities and hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or a lobbyist.
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages.
Commodities rallied as growth in European industrial production added to signs the global economic rebound is strengthening.
World Markets:
Throw the leftist lunatics out is becoming a worldwide cry not just an American phenomena. It will be necessary to claw back the wealth that the state and federal employee unions have stolen from the states by corrupting the arbitrage process and putting in leftist judges. It will also be necessary to try and impeach the leftist judges who have no constitutional right to legislate and tax citizens in most nations that follow the American model. GM union and state and federal worker pension funds must be nationalized and the money used to reduce taxes on the workers who pay the taxes. This leveling of the playing field will provide the incentive for corrupt unions and politicians to join the workers, the only producers of wealth, the only people who can pay their own way and support others. The Tea Party and Republican Party are the real worker's party now and must take office and claw back the wealth that the unions of state and federal workers have been stealing from real workers and our service men. Real workers fund our nation and warriors defend our nation with their lives. It is the leftist lunatic fringes represented by fools like Obama who suggested that the American warriors should be abandoned and have their pensions and health care cut. Every American warrior knows that.
Economic Calendar
Today
Jun 15 8:30 AM Export Prices ex-ag. May
Jun 15 8:30 AM Import Prices ex-oil May
Jun 15 8:30 AM Empire Manufacturing Survey Jun
Jun 15 9:00 AM Net Long-Term TIC Flows April
This week
Jun 16 8:30 AM Housing Starts May
Jun 16 8:30 AM Building Permits May
Jun 16 8:30 AM PPI May
Jun 16 8:30 AM Core PPI May
Jun 16 9:15 AM Capacity Utilization May
Jun 16 9:15 AM Industrial Production May
Jun 16 10:30 AM Crude Inventories 06/12
Jun 17 8:30 AM Initial Claims 06/12
Jun 17 8:30 AM Continuing Claims 06/5
Jun 17 8:30 AM CPI May
Jun 17 8:30 AM Core CPI May
Jun 17 8:30 AM Current Account Balance Q1
Jun 17 10:00 AM Leading Indicators May
Jun 17 10:00 AM Philadelphia Fed Jun
Market Outlook June 15, 2010
The VIX or fear index seems to be subsiding now. See:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=
The market had very low volume yesterday and could not sustain the rally due to Greek bonds being rated as junk. Ultimately Greece will have an economic depression if the EU does not bail them out. If the EU does bail out the bond holders then the malaise will overtake the EU. This is a problem that typically takes one or two decades to resolve.
The biggest decline the past month for global equities in 15 months has left stocks at the cheapest level relative to bonds since the collapse of Lehman Brothers Holdings Inc., a sign that shares in the U.S. and Europe may rally or bonds will falter.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time. The Chinese Government said last week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years.
GE/MSNBC/Cramer/Pravda's Jim Cramer told people to sell at the bottom and now he is telling people to buy but that we are in a narrow trading range with the market bottom already in place. Don't believe anything that MSNBC/Pravda talking heads have to say. The only hope now, and it is a growing possibility, is that we throw out most of the corrupt American communists and socialists in November.
World Markets
Asian markets were flat last night. Shanghai up 0.3 %, Hong Kong up 0.1%, India up 0.1%, and Japan up 0.1%.
European markets are up a range of about 0.4% to 0.7% this morning about half way through their day.
US pre-market futures are up 0.5% this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report last week, the gains in the euro, and the EC holding low interest rates have turned the markets positive.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the leftists out on the streets again after the American November elections.
The alternative is not encouraging. Higher American taxes will allow more money for pretend jobs and corruption. Gradually we will become more like Russia and Europe and lobbyist payoffs to corrupt politicians will be the only way to enter the drilling, mining and energy sectors. They call it regulation but government cannot regulate because government employees are generally incompetent. If they were competent they would not have to know a politician to get a job. Government does not regulate it just sets up hurdles that direct industry to a system of campaign bribes through fundraisers. They run on slush funds. That is what Obama has been doing while oil pours into the gulf. You buy their votes by contributing to their campaigns and favorite charities and hiring their cousin Moe who can't read. Perhaps you make their cousin Moe a partner or a lobbyist.
The bigger the government the greater the corruption and the heavier the burden becomes on the Americans who produce and innovate. Ultimately leftists' governments lose their ability to stay modern except through piracy of innovation. Even the French and Israelis regularly spy on traveling Americans to keep up. We caught the Japanese spying on IBM back in the 1980's just when Japan was at its peak in economic arrogance. Japan was the biggest technology pirate of all and their progress ended when they ran out of technology to steal and we began using other countries to manufacture our products so Japan lost their ability to steal everything first. When America becomes socialist, world progress will slow to the point that starvation, tribal genocide, and wars become the world's greatest preoccupation. When America becomes socialist the world re-enters the dark ages.
Friday, June 11, 2010
China is on the correct housing path
China is on the correct housing path
China is deflating the housing bubble by increasing production to drop prices. Rising prices was the mistake Japan and the USA made because that encouraged buying houses for speculation and house flipping instead of buying housing because you need it. By cooling prices while increasing production China out smarts Wall Street's empty talking heads who don't understand the difference between responsibly housing a nation of people and allowing Wall Street to pick the pockets of greedy speculators in a housing bubble. In the end Goldman Sucks, Merrill Leech, and other Wall Street criminal firms fleeced many Americans and widows and orphans worldwide.
The euro posted strong gains again as markets recovered worldwide. Even the communists at GE/MSNBC/Pravda have stopped trying to talk up fear and create a Great Depression. Fear is what drives all economic downturns. Obama took a mild Bush recession in 2008 and called it a Great Depression. Never before had America produced a presidential candidate stupid enough and irresponsible enough to create a worldwide panic just to get his ignorant leftists into the highest American political offices. That is all Obama knows… bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing ad infinitum.
The coming Obama Great Depression is only a year away after Obama's taxes, bloated government and spend-spend policy goes into full effect. Americans need to vote all these leftist idiots out of office this fall and
1. shrink government,
2. stop subsidizing socialist anti-American unions and ACORN type organizations,
3. cut taxes on investment,
4. and reduce government spending especially civilian dominated government agencies like NASA, Fish and Wildlife, EPA, and the Army Corps of Engineers which are all now run by the leftist global warming fools. Those federal agencies should be cut down to the 5% of the staff who actually are not brain-dead. We should replace them with a few cranky scientists and engineers who actually know something and can actually do something that benefits the world.
World Markets:
Economic Calendar
U.S. consumers started buying big items again as store buying on credit declines. Credit-card balances declined for the 19th straight month, the Federal Reserve reported Monday. U.S. consumer credit (excluding real estate loans) rose by $1 billion to $2.44 trillion in April, a 0.5% annualized growth rate. It was only the second increase in outstanding debt in the past 14 months. Revolving credits, such as credit cards, declined by $8.5 billion to $838 billion in April, or a 12% annualized decrease. Nonrevolving credit, such as auto loans, student loans and personal loans, rose $9.4 billion in April, or a 7.1% annualized growth rate.
Wholesale Inventories Apr, no change from last month.
Crude Inventories 06/05, continued to decline, down 1.83M this time.
U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.
FED's Beige Book June, states that economic activity continued to improve in all twelve Fed Bank Districts. Today's report seems noticeably more positive than April's Beige Book
Yesterday
Jun 10 8:30 AM Initial Claims 06/05 were 456K compared to 453K reported last week. But they this week they raised last weeks number to 459K to deceive us again.
Jun 10 8:30 AM Continuing Claims 06/29 were down to 4462K compared to 4666K reported last week but again they doctored last weeks number to make this week look even better. The amount by which Obama has them doctor the numbers each week is more than the weekly change itself.
Jun 10 8:30 AM Trade Balance April improved very slightly from -40.4 last week to -40.3 this week.
Jun 10 2:00 PM Treasury Budget May deceased to $135,000,000,000 from a monthly deficit of $189.6B last month
This week
Jun 11 8:30 AM Retail Sales May were down -1.2% after being up 0.4%last month/
Jun 11 8:30 AM Retail Sales ex-auto May were down 1.1%
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 11, 2010
The VIX or fear index seems to be subsiding now. See:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=
We got the pop right yesterday. It is not the end of the world in 1011 if we can throw out all the leftists this November.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time. The Chinese Government said this week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years.
GE/MSNBC/Cramer/Pravda reversed its negative market position and are beginning to become critical of Obama but still present biased coverage. Obama government pretend-to-work jobs paid for with higher taxes next year could drive America into a depression just like FDR's early socialist experiment did. FDR added seven years to what started out to be just a severe recession and it took a war and the loss of millions of lives to get out of FDR's Great Depression.
The world is holding its breath waiting for America to resume economic leadership. Wages are beginning to rise slightly indicating a reduced threat of depression but Obama taxes could end all U.S. economic growth.
World Markets
Asian markets were up last night following the testing of American markets. Shanghai up 0.3 %, Hong Kong up 1.2%, India up 0.8%, and Japan up 1.7%.
European markets are down a range of about 0.1% to -0.8% this morning about half way through their day.
US pre-market futures say nothing this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report and early gains by the euro also helped lift all world markets yesterday. Also the EC is not raising interest rates yet.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the commie-socialist-leftist-loonies out on the streets again after the American November elections.
China is deflating the housing bubble by increasing production to drop prices. Rising prices was the mistake Japan and the USA made because that encouraged buying houses for speculation and house flipping instead of buying housing because you need it. By cooling prices while increasing production China out smarts Wall Street's empty talking heads who don't understand the difference between responsibly housing a nation of people and allowing Wall Street to pick the pockets of greedy speculators in a housing bubble. In the end Goldman Sucks, Merrill Leech, and other Wall Street criminal firms fleeced many Americans and widows and orphans worldwide.
The euro posted strong gains again as markets recovered worldwide. Even the communists at GE/MSNBC/Pravda have stopped trying to talk up fear and create a Great Depression. Fear is what drives all economic downturns. Obama took a mild Bush recession in 2008 and called it a Great Depression. Never before had America produced a presidential candidate stupid enough and irresponsible enough to create a worldwide panic just to get his ignorant leftists into the highest American political offices. That is all Obama knows… bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing, bad mouth and do nothing ad infinitum.
The coming Obama Great Depression is only a year away after Obama's taxes, bloated government and spend-spend policy goes into full effect. Americans need to vote all these leftist idiots out of office this fall and
1. shrink government,
2. stop subsidizing socialist anti-American unions and ACORN type organizations,
3. cut taxes on investment,
4. and reduce government spending especially civilian dominated government agencies like NASA, Fish and Wildlife, EPA, and the Army Corps of Engineers which are all now run by the leftist global warming fools. Those federal agencies should be cut down to the 5% of the staff who actually are not brain-dead. We should replace them with a few cranky scientists and engineers who actually know something and can actually do something that benefits the world.
World Markets:
Economic Calendar
U.S. consumers started buying big items again as store buying on credit declines. Credit-card balances declined for the 19th straight month, the Federal Reserve reported Monday. U.S. consumer credit (excluding real estate loans) rose by $1 billion to $2.44 trillion in April, a 0.5% annualized growth rate. It was only the second increase in outstanding debt in the past 14 months. Revolving credits, such as credit cards, declined by $8.5 billion to $838 billion in April, or a 12% annualized decrease. Nonrevolving credit, such as auto loans, student loans and personal loans, rose $9.4 billion in April, or a 7.1% annualized growth rate.
Wholesale Inventories Apr, no change from last month.
Crude Inventories 06/05, continued to decline, down 1.83M this time.
U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.
FED's Beige Book June, states that economic activity continued to improve in all twelve Fed Bank Districts. Today's report seems noticeably more positive than April's Beige Book
Yesterday
Jun 10 8:30 AM Initial Claims 06/05 were 456K compared to 453K reported last week. But they this week they raised last weeks number to 459K to deceive us again.
Jun 10 8:30 AM Continuing Claims 06/29 were down to 4462K compared to 4666K reported last week but again they doctored last weeks number to make this week look even better. The amount by which Obama has them doctor the numbers each week is more than the weekly change itself.
Jun 10 8:30 AM Trade Balance April improved very slightly from -40.4 last week to -40.3 this week.
Jun 10 2:00 PM Treasury Budget May deceased to $135,000,000,000 from a monthly deficit of $189.6B last month
This week
Jun 11 8:30 AM Retail Sales May were down -1.2% after being up 0.4%last month/
Jun 11 8:30 AM Retail Sales ex-auto May were down 1.1%
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 11, 2010
The VIX or fear index seems to be subsiding now. See:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=
We got the pop right yesterday. It is not the end of the world in 1011 if we can throw out all the leftists this November.
Emerging markets and particularly Asian pro-shares continue to be very attractive now. The market has already corrected more than it did in 2004 at the end of the first year after the low point in the last recession. Then the market resumed rising sharply at that time. The Chinese Government said this week that exports out of the country were up 48.5% in May compared to a year ago, the biggest jump in more than six years.
GE/MSNBC/Cramer/Pravda reversed its negative market position and are beginning to become critical of Obama but still present biased coverage. Obama government pretend-to-work jobs paid for with higher taxes next year could drive America into a depression just like FDR's early socialist experiment did. FDR added seven years to what started out to be just a severe recession and it took a war and the loss of millions of lives to get out of FDR's Great Depression.
The world is holding its breath waiting for America to resume economic leadership. Wages are beginning to rise slightly indicating a reduced threat of depression but Obama taxes could end all U.S. economic growth.
World Markets
Asian markets were up last night following the testing of American markets. Shanghai up 0.3 %, Hong Kong up 1.2%, India up 0.8%, and Japan up 1.7%.
European markets are down a range of about 0.1% to -0.8% this morning about half way through their day.
US pre-market futures say nothing this morning. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
A positive Chinese export economic report and early gains by the euro also helped lift all world markets yesterday. Also the EC is not raising interest rates yet.
We expect some rapid gains (market pops) interspersed with caution as investors realized the end of the world will not occur in 2011 if Americans throw all the commie-socialist-leftist-loonies out on the streets again after the American November elections.
Tuesday, June 8, 2010
The US must lead the world economically again. Socialist-Democrats need to set aside taxes and cut East German type pretend government jobs that acco
The US must lead the world economically again. Socialist-Democrats need to set aside taxes and cut East German type pretend government jobs that accomplish nothing.
Throwing $trillions at union pension funds for government union workers who never worked an honest day in their life is the way socialists destroy not just their economy but their culture and hope for a better future. America cannot afford to throw money at rioting good for nothing thugs like Greece and other socialist states do. That is not America that is the behavior of a primitive tribe living from hand to mouth.
Then there is the socialist-communist approach when they get fed-up with the protestors and run over them with tanks. Those are socialist solutions not America's where the constitution protects the individuals and regional states from the federal government .
Plot the S&P 500 and you see it down at the resistance level of the previous low on Feb 8, 2010.
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 1056 June 5 1050
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 June 5 44.27
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 June 5 9816.5
Plot the NASDAQ and you see it at the resistance level of the previous low on Feb 8, 2010.
http://finance.yahoo.com/echarts?s=%5Eixic
Feb 8 2125 June 5 2173.9
The same is similar for the New York Stock Exchange, NYA. A breakdown is defined as a plunge not a slight dip.
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 June 5 6512.4
World Markets:
Economic Calendar
This week
Jun 7 3:00 PM Consumer Credit Apr:
U.S. consumers start buying big items again as store buying on credit declines. Credit-card balances declined for the 19th straight month, the Federal Reserve reported Monday. U.S. consumer credit (excluding real estate loans) rose by $1 billion to $2.44 trillion in April, a 0.5% annualized growth rate. It was only the second increase in outstanding debt in the past 14 months. Revolving credits, such as credit cards, declined by $8.5 billion to $838 billion in April, or a 12% annualized decrease. Nonrevolving credit, such as auto loans, student loans and personal loans, rose $9.4 billion in April, or a 7.1% annualized growth rate.
Jun 9 10:00 AM Wholesale Inventories Apr
Jun 9 10:30 AM Crude Inventories 06/05
Jun 9 2:00 PM FED's Beige Book Jun
Jun 10 8:30 AM Initial Claims 06/05
Jun 10 8:30 AM Continuing Claims 06/29
Jun 10 8:30 AM Trade Balance Apr
Jun 10 2:00 PM Treasury Budget May
Jun 11 8:30 AM Retail Sales May
Jun 11 8:30 AM Retail Sales ex-auto May
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 8, 2010
We are sitting at critical 4-month and 7-month support levels. It would be unusual for the support levels to yield the very first time they are hit. It usually takes a few months of testing before a support level gives way. We expect to see advancing stock markets here and abroad most of the next four to ten weeks. But GE/MSNBC/Cramer/Pravda seems to be trying to create a panic selloff first after Cramer kept his listeners fully invested at the top. He still has them investing but now just in gold and high-dividend stocks.
The world is holding its breath waiting for America to resume economic leadership while China cleans up economic distortions and waste that accompanied their phenomenal spurt the last two years.
World Markets
Asian markets were up last night following the testing of American markets on Monday. Shanghai up 0.1%, Hong Kong up 0.6%, India down -1%, and Japan up 0.2%.
European markets are down about 1% this morning about half way through their day.
US pre-market futures are flat before the start by about +0.3%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Throwing $trillions at union pension funds for government union workers who never worked an honest day in their life is the way socialists destroy not just their economy but their culture and hope for a better future. America cannot afford to throw money at rioting good for nothing thugs like Greece and other socialist states do. That is not America that is the behavior of a primitive tribe living from hand to mouth.
Then there is the socialist-communist approach when they get fed-up with the protestors and run over them with tanks. Those are socialist solutions not America's where the constitution protects the individuals and regional states from the federal government .
Plot the S&P 500 and you see it down at the resistance level of the previous low on Feb 8, 2010.
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 1056 June 5 1050
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 June 5 44.27
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 June 5 9816.5
Plot the NASDAQ and you see it at the resistance level of the previous low on Feb 8, 2010.
http://finance.yahoo.com/echarts?s=%5Eixic
Feb 8 2125 June 5 2173.9
The same is similar for the New York Stock Exchange, NYA. A breakdown is defined as a plunge not a slight dip.
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 June 5 6512.4
World Markets:
Economic Calendar
This week
Jun 7 3:00 PM Consumer Credit Apr:
U.S. consumers start buying big items again as store buying on credit declines. Credit-card balances declined for the 19th straight month, the Federal Reserve reported Monday. U.S. consumer credit (excluding real estate loans) rose by $1 billion to $2.44 trillion in April, a 0.5% annualized growth rate. It was only the second increase in outstanding debt in the past 14 months. Revolving credits, such as credit cards, declined by $8.5 billion to $838 billion in April, or a 12% annualized decrease. Nonrevolving credit, such as auto loans, student loans and personal loans, rose $9.4 billion in April, or a 7.1% annualized growth rate.
Jun 9 10:00 AM Wholesale Inventories Apr
Jun 9 10:30 AM Crude Inventories 06/05
Jun 9 2:00 PM FED's Beige Book Jun
Jun 10 8:30 AM Initial Claims 06/05
Jun 10 8:30 AM Continuing Claims 06/29
Jun 10 8:30 AM Trade Balance Apr
Jun 10 2:00 PM Treasury Budget May
Jun 11 8:30 AM Retail Sales May
Jun 11 8:30 AM Retail Sales ex-auto May
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 8, 2010
We are sitting at critical 4-month and 7-month support levels. It would be unusual for the support levels to yield the very first time they are hit. It usually takes a few months of testing before a support level gives way. We expect to see advancing stock markets here and abroad most of the next four to ten weeks. But GE/MSNBC/Cramer/Pravda seems to be trying to create a panic selloff first after Cramer kept his listeners fully invested at the top. He still has them investing but now just in gold and high-dividend stocks.
The world is holding its breath waiting for America to resume economic leadership while China cleans up economic distortions and waste that accompanied their phenomenal spurt the last two years.
World Markets
Asian markets were up last night following the testing of American markets on Monday. Shanghai up 0.1%, Hong Kong up 0.6%, India down -1%, and Japan up 0.2%.
European markets are down about 1% this morning about half way through their day.
US pre-market futures are flat before the start by about +0.3%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Monday, June 7, 2010
Greece likely to be ejected from the EU
If Greece cannot abide by EU limits on maximum % spending vs. their GDP then Greece will likely be ejected.
When did anyone ever exclude temporary workers such as census workers before? Never! The temps are always there and always included in employment figures. The census is already 2/3 complete and even though they are hiring for the last phase they have been letting most census workers hired more than three months ago go. They do that so that temporary Census workers do not become eligible for unemployment compensation.
What we saw last week were excellent economic reports that were all spun negatively by GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda. They pumped up the news at the highs in April so their buddies could dump stocks on MSNBC listeners and now when the market is at its low point they spin the news negatively so their buddies can buy back in at low prices. Martha Stewart did not serve time for listening to Jim Cramer. Socialism is corrupt because it is not rule by law it is rule by the whim of the majority in power. It is the old political spoils system that Teddy Roosevelt and Charles Lyman eliminated after the Civil War when they instituted the Federal merit system. Obama is appointing clueless leftists who are not qualified to hold public positions and who are corrupt from the get go.
Martha Stewart did not serve time for listening to Jim Cramer. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Remember a few weeks ago they spun consumer confidence negatively? Compare for yourself the two surveyed levels of consumer confidence at. However the depression psychology the leftists always spread can become self full filling. That is what got Obama elected. That will probably hurt consumer confidence next month.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056 June 5 1065
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 June 5 45.1
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 June 5 9931
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
Feb 8 2125 June 5 2219
The same is similar for the New York Stock Exchange, NYA, where a breakdown is defined as a plunge not a slight dip.
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 June 5 6600
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy.
World Markets:
Economic Calendar
Last week
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Auto Sales May, Ford sales up 20%, GM sales up 17%, Chrysler up 33%, Toyota down.
Truck Sales May, Ford sales up 22%, GM sales up 17%.
Service industries in the U.S. expanded for a fifth month and factory orders rose, pointing to a broadening economic recovery that’s generating more jobs.
Jun 3 8:15 AM ADP Employment Change May improved 30% but the manipulated revision to last month made it look 18% poorer
Jun 3 Productivity-Rev. Q1 revised downward from 3.6% to 2.8%, still good.
Jun 3 Unit Labor Costs Q1 declined 1.3%, goodness
Jun 3 Initial Claims 05/29 declined slightly from 460K to 456K (manipulation removed).
Jun 3 Continuing Claims 05/22 up 1.7% (manipulation removed). Not good at all.
Jun 3 Factory Orders Apr improved more than 1.2% (manipulation removed). good
Jun 3 ISM Services May 55.4 (no change) but goodness
Last Friday
Jun 4 When did anyone ever throw out temporary workers such as census workers before? Never! The temps are always there and always included. What we saw last week were excellent reports that were all spun negatively by GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda. They pump up the news positively so their buddies can dump stocks on their listeners and now when the market is at its low point they spin the news negatively so their buddies can buy back in at low prices. Non farm Payrolls May rose 431K in may vs. 290K last month, a 45% rise in hiring. The unemployment situation is improving because we can see 80% of graduating students are finding jobs before they graduate. Also, the number of people still eligible for 99 weeks of unemployment is peaking this month. That should subside by the end of June causing unemployment to fall even faster. So now is the time to buy in advance of improving employment opportunities in the USA.
Jun 4 Unemployment Rate May dropped from 9.9% to 9.7% the second monthly drop in a row.
Jun 4 Hourly Earnings May rose 0.3% after no increase last month
Jun 4 Average Workweek May rose to 34.2 days from 31.1 days
These are all excellent results.
This week
Jun 7 3:00 PM Consumer Credit Apr
Jun 9 10:00 AM Wholesale Inventories Apr
Jun 9 10:30 AM Crude Inventories 06/05
Jun 9 2:00 PM Fed's Beige Book Jun
Jun 10 8:30 AM Initial Claims 06/05
Jun 10 8:30 AM Continuing Claims 06/29
Jun 10 8:30 AM Trade Balance Apr
Jun 10 2:00 PM Treasury Budget May
Jun 11 8:30 AM Retail Sales May
Jun 11 8:30 AM Retail Sales ex-auto May
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 7, 2010
We are once again at critical support levels. It would be unusual for the support levels to yield the very first time they are hit. It usually takes a few months of testing before a support level gives way. We expect to see advancing stock markets here and abroad most of the next four to ten weeks
World Markets
Asian markets were down sharply last night following the American decline on Friday. Shanghai down -1.6%, Hong Kong down -2%, India down -2%, and Japan down -3.8%.
European markets are down in the range from -0.2% to -0.6% this morning about half way through their day.
US pre-market futures are flat 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.
When did anyone ever exclude temporary workers such as census workers before? Never! The temps are always there and always included in employment figures. The census is already 2/3 complete and even though they are hiring for the last phase they have been letting most census workers hired more than three months ago go. They do that so that temporary Census workers do not become eligible for unemployment compensation.
What we saw last week were excellent economic reports that were all spun negatively by GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda. They pumped up the news at the highs in April so their buddies could dump stocks on MSNBC listeners and now when the market is at its low point they spin the news negatively so their buddies can buy back in at low prices. Martha Stewart did not serve time for listening to Jim Cramer. Socialism is corrupt because it is not rule by law it is rule by the whim of the majority in power. It is the old political spoils system that Teddy Roosevelt and Charles Lyman eliminated after the Civil War when they instituted the Federal merit system. Obama is appointing clueless leftists who are not qualified to hold public positions and who are corrupt from the get go.
Martha Stewart did not serve time for listening to Jim Cramer. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Remember a few weeks ago they spun consumer confidence negatively? Compare for yourself the two surveyed levels of consumer confidence at. However the depression psychology the leftists always spread can become self full filling. That is what got Obama elected. That will probably hurt consumer confidence next month.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056 June 5 1065
The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ
Feb 8 42.62 June 5 45.1
The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 June 5 9931
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
Feb 8 2125 June 5 2219
The same is similar for the New York Stock Exchange, NYA, where a breakdown is defined as a plunge not a slight dip.
http://finance.yahoo.com/echarts?s=%5ENYA
Feb 8 6713 June 5 6600
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy.
World Markets:
Economic Calendar
Last week
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Auto Sales May, Ford sales up 20%, GM sales up 17%, Chrysler up 33%, Toyota down.
Truck Sales May, Ford sales up 22%, GM sales up 17%.
Service industries in the U.S. expanded for a fifth month and factory orders rose, pointing to a broadening economic recovery that’s generating more jobs.
Jun 3 8:15 AM ADP Employment Change May improved 30% but the manipulated revision to last month made it look 18% poorer
Jun 3 Productivity-Rev. Q1 revised downward from 3.6% to 2.8%, still good.
Jun 3 Unit Labor Costs Q1 declined 1.3%, goodness
Jun 3 Initial Claims 05/29 declined slightly from 460K to 456K (manipulation removed).
Jun 3 Continuing Claims 05/22 up 1.7% (manipulation removed). Not good at all.
Jun 3 Factory Orders Apr improved more than 1.2% (manipulation removed). good
Jun 3 ISM Services May 55.4 (no change) but goodness
Last Friday
Jun 4 When did anyone ever throw out temporary workers such as census workers before? Never! The temps are always there and always included. What we saw last week were excellent reports that were all spun negatively by GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda. They pump up the news positively so their buddies can dump stocks on their listeners and now when the market is at its low point they spin the news negatively so their buddies can buy back in at low prices. Non farm Payrolls May rose 431K in may vs. 290K last month, a 45% rise in hiring. The unemployment situation is improving because we can see 80% of graduating students are finding jobs before they graduate. Also, the number of people still eligible for 99 weeks of unemployment is peaking this month. That should subside by the end of June causing unemployment to fall even faster. So now is the time to buy in advance of improving employment opportunities in the USA.
Jun 4 Unemployment Rate May dropped from 9.9% to 9.7% the second monthly drop in a row.
Jun 4 Hourly Earnings May rose 0.3% after no increase last month
Jun 4 Average Workweek May rose to 34.2 days from 31.1 days
These are all excellent results.
This week
Jun 7 3:00 PM Consumer Credit Apr
Jun 9 10:00 AM Wholesale Inventories Apr
Jun 9 10:30 AM Crude Inventories 06/05
Jun 9 2:00 PM Fed's Beige Book Jun
Jun 10 8:30 AM Initial Claims 06/05
Jun 10 8:30 AM Continuing Claims 06/29
Jun 10 8:30 AM Trade Balance Apr
Jun 10 2:00 PM Treasury Budget May
Jun 11 8:30 AM Retail Sales May
Jun 11 8:30 AM Retail Sales ex-auto May
Jun 11 9:55 AM Mich. Sentiment Jun
Jun 11 10:00 AM Business Inventories Apr
Market Outlook June 7, 2010
We are once again at critical support levels. It would be unusual for the support levels to yield the very first time they are hit. It usually takes a few months of testing before a support level gives way. We expect to see advancing stock markets here and abroad most of the next four to ten weeks
World Markets
Asian markets were down sharply last night following the American decline on Friday. Shanghai down -1.6%, Hong Kong down -2%, India down -2%, and Japan down -3.8%.
European markets are down in the range from -0.2% to -0.6% this morning about half way through their day.
US pre-market futures are flat 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, June 4, 2010
China has now cut the real estate bubble by more than 50% which means China can now resume more rapid growth.
The USA is still a much bigger consumer than are the Chinese so the USA will once again pull up the rest of the world. China also has now cut their real estate bubble by more than 50% which means China can now resume more rapid growth.
How about Congress regulating or better yet abolishing Freddie and Fannie Mai? The new Obama financial reform legislation will not even touch these two socialist-corrupt agencies that qualified mortgages to thousands of people with no means to make any payments. Then they backed loans to the same people that allowed indigents to withdraw equity to stay in the house they could not afford and then declare bankruptcy. Socialism is corrupt and a socialist congress is absolutely bankrupting national ethics, values, and morality.
Oil service stocks brought down the stock market two days ago and GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda advised avoiding them so their hedge fund friends could pick up the bargains. Then yesterday all the stocks that GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda told listeners to avoid rose 2% to 8%. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Compare for yourself the two surveyed levels of consumer confidence at.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Auto Sales May, Ford sales up 20%, GM sales up 17%, Chrysler up 33%, Toyota down.
Truck Sales May, Ford sales up 22%, GM sales up 17%.
Service industries in the U.S. expanded for a fifth month and factory orders rose, pointing to a broadening economic recovery that’s generating more jobs.
Yesterday:
Jun 3 8:15 AM ADP Employment Change May improved 30% but the manipulated revision to last month made it look 18% poorer
Jun 3 Productivity-Rev. Q1 revised downward from 3.6% to 2.8%, still good.
Jun 3 Unit Labor Costs Q1 declined 1.3%, goodness
Jun 3 Initial Claims 05/29 declined slightly from 460K to 456K (manipulation removed).
Jun 3 Continuing Claims 05/22 up 1.7% (manipulation removed). Not good at all.
Jun 3 Factory Orders Apr improved more than 1.2% (manipulation removed). good
Jun 3 ISM Services May 55.4 (no change) but goodness
Today
Jun 4 8:30 AM Non farm Payrolls May rose 431K in may vs. 290K last month, a 45% rise in hiring.
Jun 4 8:30 AM Unemployment Rate May dropped from 9.9% to 9.7% the second monthly drop in a row.
Jun 4 8:30 AM Hourly Earnings May rose 0.3% after no increase last month
Jun 4 8:30 AM Average Workweek May rose to 34.2 days from 31.1 days
These are all excellent results.
Market Outlook June 4, 2010
The unemployment situation is improving because we can see 80% of graduating students are finding jobs before they graduate. Also, the number of people still eligible for 99 weeks of unemployment is peaking this month. That should subside by the end of June causing unemployment to fall even faster. So now is the time to buy in advance of improving employment opportunities in the USA.
http://www.martincapital.com/chart-pgs/Pg_jobs.htm
The USA is still a much bigger consumer than is China so the USA will once again pull up the rest of the world. China also has now cut the real estate bubble by more than 50% which means China will now resume rapid growth.
We expect to see advancing stock markets here and abroad most of the next four to ten weeks
World Markets
Asian markets were waiting for American unemployment report (which probably will not be good) last night. Shanghai down -0.0%, Hong Kong up 0%, India up 0.6%, and Japan down -0.1%.
European markets are waiting for American unemployment report in the range from -0.5% to -1.1% this morning about half way through their day.
US pre-market futures are down before the start by about -0.6%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
How about Congress regulating or better yet abolishing Freddie and Fannie Mai? The new Obama financial reform legislation will not even touch these two socialist-corrupt agencies that qualified mortgages to thousands of people with no means to make any payments. Then they backed loans to the same people that allowed indigents to withdraw equity to stay in the house they could not afford and then declare bankruptcy. Socialism is corrupt and a socialist congress is absolutely bankrupting national ethics, values, and morality.
Oil service stocks brought down the stock market two days ago and GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda advised avoiding them so their hedge fund friends could pick up the bargains. Then yesterday all the stocks that GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda told listeners to avoid rose 2% to 8%. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Compare for yourself the two surveyed levels of consumer confidence at.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Auto Sales May, Ford sales up 20%, GM sales up 17%, Chrysler up 33%, Toyota down.
Truck Sales May, Ford sales up 22%, GM sales up 17%.
Service industries in the U.S. expanded for a fifth month and factory orders rose, pointing to a broadening economic recovery that’s generating more jobs.
Yesterday:
Jun 3 8:15 AM ADP Employment Change May improved 30% but the manipulated revision to last month made it look 18% poorer
Jun 3 Productivity-Rev. Q1 revised downward from 3.6% to 2.8%, still good.
Jun 3 Unit Labor Costs Q1 declined 1.3%, goodness
Jun 3 Initial Claims 05/29 declined slightly from 460K to 456K (manipulation removed).
Jun 3 Continuing Claims 05/22 up 1.7% (manipulation removed). Not good at all.
Jun 3 Factory Orders Apr improved more than 1.2% (manipulation removed). good
Jun 3 ISM Services May 55.4 (no change) but goodness
Today
Jun 4 8:30 AM Non farm Payrolls May rose 431K in may vs. 290K last month, a 45% rise in hiring.
Jun 4 8:30 AM Unemployment Rate May dropped from 9.9% to 9.7% the second monthly drop in a row.
Jun 4 8:30 AM Hourly Earnings May rose 0.3% after no increase last month
Jun 4 8:30 AM Average Workweek May rose to 34.2 days from 31.1 days
These are all excellent results.
Market Outlook June 4, 2010
The unemployment situation is improving because we can see 80% of graduating students are finding jobs before they graduate. Also, the number of people still eligible for 99 weeks of unemployment is peaking this month. That should subside by the end of June causing unemployment to fall even faster. So now is the time to buy in advance of improving employment opportunities in the USA.
http://www.martincapital.com/chart-pgs/Pg_jobs.htm
The USA is still a much bigger consumer than is China so the USA will once again pull up the rest of the world. China also has now cut the real estate bubble by more than 50% which means China will now resume rapid growth.
We expect to see advancing stock markets here and abroad most of the next four to ten weeks
World Markets
Asian markets were waiting for American unemployment report (which probably will not be good) last night. Shanghai down -0.0%, Hong Kong up 0%, India up 0.6%, and Japan down -0.1%.
European markets are waiting for American unemployment report in the range from -0.5% to -1.1% this morning about half way through their day.
US pre-market futures are down before the start by about -0.6%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Thursday, June 3, 2010
Is Obama just a shill for Islamic terrorists? Will he sell out the Israelis next?
Is Obama just a shill for Islamic terrorists? Will he sell out the Israelis next?
Obama is a loser and a liar. America and our allies are being undermined by having a covert Islamist president who will not share his university documents or his birth certificate for Americans to see. Apparently he was a registered foreign Islamic student and strangely cannot produce an original American birth certificate. Why is he hiding that information if he is not a liar? Unless he shows Americans these documents Americans should demand that Obama be impeached.
How about regulating or better yet abolishing Freddie and Fannie Mai? The new Obama financial reform legislation will not touch these two socialist-corrupt agencies that qualified mortgages to thousands of people with no means to make any payments. Then they backed loans to the same people that allowed indigents to withdraw equity to stay in the house they could not afford and then declare bankruptcy. Socialism is corrupt and a socialist congress is absolutely bankrupting national ethics, values, and morality.
Oil service stocks brought down the stock market two days ago and GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda advised avoiding them so their hedge fund friends could pick up the bargains. Then yesterday all the stocks that GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda told listeners to avoid rose 2% to 8%. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Compare for yourself the level of consumer confidence and other indicators and don’t believe the ignorant and corrupt socialist GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda that spun everything negatively last week at the market lows. GE/MSNBC/Pravda appears to be out to destabilize the free markets and to sink your portfolio with extreme optimism at market highs and extreme negativism at market lows. That is how they believe they can help Obama make America another socialist banana republic.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy. Jim Cramer lied when he said he was trying to temper yesterday's optimism. When the market is only 2% off its low, Cramer is insulting the intelligence of his audience to call it optimistic. He is just being a shill for his hedge fund buddies who were buying yesterday like mad men. Likewise Obama is a shill for Islamic terrorists who are bent on finishing the extermination of Jews that Hitler started.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Jun 2 Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Jun 2 Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Jun 2 Auto Sales May, Ford sales up 20%, GM sales up 17%.
Jun 2 Truck Sales May, Ford sales up 22%, GM sales up 17%.
This week:
Jun 3 8:15 AM ADP Employment Change May
Jun 3 8:30 AM Productivity-Rev. Q1
Jun 3 8:30 AM Unit Labor Costs Q1
Jun 3 8:30 AM Initial Claims 05/29
Jun 3 8:30 AM Continuing Claims 05/22
Jun 3 10:00 AM Factory Orders Apr
Jun 3 10:00 AM ISM Services May
Jun 4 8:30 AM Non farm Payrolls May
Jun 4 8:30 AM Unemployment Rate May
Jun 4 8:30 AM Hourly Earnings May
Jun 4 8:30 AM Average Workweek May
Market Outlook June 3, 2010
Obama blames the oil disaster and the Gore marriage break-up on George bush of course!
BP was improving profits by cutting corners on rig safety and that caused the burning to death of 11 people and the death of important fishing seabeds. Since the procedural changes that caused the accident were premeditated, BP executives may have to face criminal prosecution unless they buy off the corrupt Obama officials or if the criminal investigation is extended to include the Obama administration officials who Obama claimed were approving all of BP's actions. Yes, Obama thought the disaster was easy to end when he stuck his foot in his mouth and said his administration had always been quietly reviewing and approving the BP actions. Now he needs to take credit for his disaster on his watch.
Obama is a loser and a liar. America and our allies are being undermined by having a covert Islamist president who will not share his university documents or his birth certificate for Americans to see. Apparently he was a registered foreign Islamic student and strangely cannot produce an original American birth certificate. Why is he hiding that information if he is not a liar? Unless he shows Americans these documents Americans should demand that Obama be impeached.
World Markets
Asian markets were up last night. Shanghai down 0.7%, Hong Kong up 1.6%, India up 1.6%, and Japan up 3.2%.
European markets are up in the range from 1.7% to 2.2% this morning about half way through their day.
US pre-market futures are up before the start by about 0.3%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Obama is a loser and a liar. America and our allies are being undermined by having a covert Islamist president who will not share his university documents or his birth certificate for Americans to see. Apparently he was a registered foreign Islamic student and strangely cannot produce an original American birth certificate. Why is he hiding that information if he is not a liar? Unless he shows Americans these documents Americans should demand that Obama be impeached.
How about regulating or better yet abolishing Freddie and Fannie Mai? The new Obama financial reform legislation will not touch these two socialist-corrupt agencies that qualified mortgages to thousands of people with no means to make any payments. Then they backed loans to the same people that allowed indigents to withdraw equity to stay in the house they could not afford and then declare bankruptcy. Socialism is corrupt and a socialist congress is absolutely bankrupting national ethics, values, and morality.
Oil service stocks brought down the stock market two days ago and GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda advised avoiding them so their hedge fund friends could pick up the bargains. Then yesterday all the stocks that GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda told listeners to avoid rose 2% to 8%. Cramer is exactly 180 degrees out of phase with the stock market. In two months when GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda tells us the economy is recovering it will be the time to sell everything and short whatever they recommend.
Compare for yourself the level of consumer confidence and other indicators and don’t believe the ignorant and corrupt socialist GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda that spun everything negatively last week at the market lows. GE/MSNBC/Pravda appears to be out to destabilize the free markets and to sink your portfolio with extreme optimism at market highs and extreme negativism at market lows. That is how they believe they can help Obama make America another socialist banana republic.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now. So that obviously means it is time to buy. Jim Cramer lied when he said he was trying to temper yesterday's optimism. When the market is only 2% off its low, Cramer is insulting the intelligence of his audience to call it optimistic. He is just being a shill for his hedge fund buddies who were buying yesterday like mad men. Likewise Obama is a shill for Islamic terrorists who are bent on finishing the extermination of Jews that Hitler started.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
USA personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3-percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Jun 2 Pending home sales soared 6.0%, according to the National Association of Realtors. They hit a level not seen since October 2009.
Jun 2 Crude Inventories 05/29: Oil prices in Asia after U.S. crude inventories fell more than expected, suggesting consumer demand is growing. Crude supplies fell more than expected, dropping by 1.4 million barrels, the American Petroleum Institute said late Wednesday.
Jun 2 Auto Sales May, Ford sales up 20%, GM sales up 17%.
Jun 2 Truck Sales May, Ford sales up 22%, GM sales up 17%.
This week:
Jun 3 8:15 AM ADP Employment Change May
Jun 3 8:30 AM Productivity-Rev. Q1
Jun 3 8:30 AM Unit Labor Costs Q1
Jun 3 8:30 AM Initial Claims 05/29
Jun 3 8:30 AM Continuing Claims 05/22
Jun 3 10:00 AM Factory Orders Apr
Jun 3 10:00 AM ISM Services May
Jun 4 8:30 AM Non farm Payrolls May
Jun 4 8:30 AM Unemployment Rate May
Jun 4 8:30 AM Hourly Earnings May
Jun 4 8:30 AM Average Workweek May
Market Outlook June 3, 2010
Obama blames the oil disaster and the Gore marriage break-up on George bush of course!
BP was improving profits by cutting corners on rig safety and that caused the burning to death of 11 people and the death of important fishing seabeds. Since the procedural changes that caused the accident were premeditated, BP executives may have to face criminal prosecution unless they buy off the corrupt Obama officials or if the criminal investigation is extended to include the Obama administration officials who Obama claimed were approving all of BP's actions. Yes, Obama thought the disaster was easy to end when he stuck his foot in his mouth and said his administration had always been quietly reviewing and approving the BP actions. Now he needs to take credit for his disaster on his watch.
Obama is a loser and a liar. America and our allies are being undermined by having a covert Islamist president who will not share his university documents or his birth certificate for Americans to see. Apparently he was a registered foreign Islamic student and strangely cannot produce an original American birth certificate. Why is he hiding that information if he is not a liar? Unless he shows Americans these documents Americans should demand that Obama be impeached.
World Markets
Asian markets were up last night. Shanghai down 0.7%, Hong Kong up 1.6%, India up 1.6%, and Japan up 3.2%.
European markets are up in the range from 1.7% to 2.2% this morning about half way through their day.
US pre-market futures are up before the start by about 0.3%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Wednesday, June 2, 2010
Corrupt Obama officials could face criminal investigation too given that Obama claimed the Obama administration officials were approving all of BP's d
Corrupt Obama officials could face criminal investigation too given that Obama claimed the Obama administration officials were approving all of BP's decisions.
Socialist countries are thoroughly corrupted with systems that require dozens of permits to operate businesses (bribes). That is why few American companies venture into Russia. The bribes are very high. It costs $4million just to get President Putin's support for a shopping center. A car wash is less expensive but Putin won't come to cut the ribbon for that. That is what it would be like in Obama's new socialist state. His wife's salary was doubled and her employer got several $million in federal funds when Obama became a senator. Now Obama has a multi-$trillion slush fund.
Last week Obama made it clear that his administration was not asleep at the wheel as everyone had thought but had actively participated in and had approved all BP procedural changes. Therefore if the changes are criminally prosecuted the Obama administration officials could be implicated, summoned, and possibly criminally prosecuted as well. That is great news.
Oil service stocks brought down the stock market yesterday as the Obama oil spill continues out of control.
Compare for yourself the level of consumer confidence and don’t believe the ignorant and corrupt socialist GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda that spun this negatively last week. GE/MSNBC/Pravda is out to destabilize the free markets and to sink your portfolio with extreme optimism at market highs and extreme negativism at market lows. That is how they believe they can help Obama make America another socialist banana republic.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
Personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
9:55 AM U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3 percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
This week:
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Jun 2 10:00 AM Pending Home Sales Apr
Jun 2 10:30 AM Crude Inventories 05/29
Jun 2 2:00 PM Auto Sales May
Jun 2 2:00 PM Truck Sales May
Jun 3 8:15 AM ADP Employment Change May
Jun 3 8:30 AM Productivity-Rev. Q1
Jun 3 8:30 AM Unit Labor Costs Q1
Jun 3 8:30 AM Initial Claims 05/29
Jun 3 8:30 AM Continuing Claims 05/22
Jun 3 10:00 AM Factory Orders Apr
Jun 3 10:00 AM ISM Services May
Jun 4 8:30 AM Non farm Payrolls May
Jun 4 8:30 AM Unemployment Rate May
Jun 4 8:30 AM Hourly Earnings May
Jun 4 8:30 AM Average Workweek May
Market Outlook June 2, 2010
The latest test of market resistance levels was the result of the decline in the oil services industry stock prices in lieu of the expected costs of clean up and safety. BP was improving profits by cutting corners on rig safety and that caused the burning to death of 11 people and the death of important fishing seabeds. Since the procedural changes that caused the accident were premeditated, BP executives may have to face criminal prosecution unless they buy off the corrupt Obama officials or if the criminal investigation is extended to include the Obama administration officials who Obama claimed were approving all of BP's actions.
It is estimated that the Obama oil spill will add $60 to the cost of drilling new oil and will reduce the supply as well. That will hurt the off shore oil services industry, raise oil prices, and improve profitability of on-shore facilities.
World Markets
Asian markets were mixed last night. Japan's socialist president resigned due to the economic failures of his administration. Anti-American GE/MSNBC/Pravda claimed it was because he decided not to kick America out just when North Korea is going postal. Shanghai up 0.1%, Hong Kong down -0.1%, India up 1%, and Japan down -1.1%.
European markets are down in the range from -0.5% to -1.3% this morning about half way through their day.
US pre-market futures are up before the start by 0.5% to 0.8%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
Socialist countries are thoroughly corrupted with systems that require dozens of permits to operate businesses (bribes). That is why few American companies venture into Russia. The bribes are very high. It costs $4million just to get President Putin's support for a shopping center. A car wash is less expensive but Putin won't come to cut the ribbon for that. That is what it would be like in Obama's new socialist state. His wife's salary was doubled and her employer got several $million in federal funds when Obama became a senator. Now Obama has a multi-$trillion slush fund.
Last week Obama made it clear that his administration was not asleep at the wheel as everyone had thought but had actively participated in and had approved all BP procedural changes. Therefore if the changes are criminally prosecuted the Obama administration officials could be implicated, summoned, and possibly criminally prosecuted as well. That is great news.
Oil service stocks brought down the stock market yesterday as the Obama oil spill continues out of control.
Compare for yourself the level of consumer confidence and don’t believe the ignorant and corrupt socialist GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda that spun this negatively last week. GE/MSNBC/Pravda is out to destabilize the free markets and to sink your portfolio with extreme optimism at market highs and extreme negativism at market lows. That is how they believe they can help Obama make America another socialist banana republic.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
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 1056
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
GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now.
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. Export growth has stimulated the American economy.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
We believe that for now the market decline is spent with multiple tests of the market resistance points.
Economic Calendar
Personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
9:55 AM U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.
The economic recovery gained strength on the greatest rise in construction spending in a decade and the 10th straight month of expansion for the manufacturing sector. Industry spending rose 2.7 percent with gains in all major sectors, the Commerce Department said Tuesday. In the manufacturing report, the group's employment index, which measures employers' willingness to hire, rose 1.3 percentage points to 59.8. That was the highest level since May 2004. New orders, a gauge of future production, were unchanged at 65.7. "We haven't lost much in the way of momentum," said Norbert Ore, chairman of the ISM's manufacturing survey on a conference call. "The manufacturing sector continues to move ahead."
In a separate report Tuesday, the Institute for Supply Management, a trade group of purchasing executives, said that after a nearly six-year high in April the 59.7 reading for May was again well above the 50 level that indicates expansion. Export orders rose last month despite the debt crisis in Greece.
Government spending rose 2.4 percent aided by multi-trillion dollar boondoggle Congress passed in February 2009. State and local spending jumped 2.3 percent and federal spending rose 2.9 percent.
Residential construction spending surged 4.4 percent in April. The other major sector, nonresidential construction, climbed 1.7 percent. That marked the first advance in this category since March 2009. The strength in April came from gains in private sector work on communications projects and power generation facilities. Construction of office buildings and the category that includes shopping centers fell in April that is good to reduce the glut.
Homebuilders have expressed optimism that construction will keep improving even with the expiration of the homebuyer tax credits. Luxury homebuilder Toll Brothers Inc. confirmed last week that it had a narrower loss in its latest quarter and had seen a surge in new home orders. The company said the strength in orders was holding up in May even though the homebuyer tax credits had come to end. Pulte Group Inc., the nation's largest homebuilder, reported in early May that it had been able to reduce its loss for the first quarter and expected to be profitable this year. That would mark a major turning point for the company, which has posted losses in 14 consecutive quarters.
This week:
Challenger reports job cuts announced by U.S. employers declined 65% in May, indicating the labor market is improving.
Jun 2 10:00 AM Pending Home Sales Apr
Jun 2 10:30 AM Crude Inventories 05/29
Jun 2 2:00 PM Auto Sales May
Jun 2 2:00 PM Truck Sales May
Jun 3 8:15 AM ADP Employment Change May
Jun 3 8:30 AM Productivity-Rev. Q1
Jun 3 8:30 AM Unit Labor Costs Q1
Jun 3 8:30 AM Initial Claims 05/29
Jun 3 8:30 AM Continuing Claims 05/22
Jun 3 10:00 AM Factory Orders Apr
Jun 3 10:00 AM ISM Services May
Jun 4 8:30 AM Non farm Payrolls May
Jun 4 8:30 AM Unemployment Rate May
Jun 4 8:30 AM Hourly Earnings May
Jun 4 8:30 AM Average Workweek May
Market Outlook June 2, 2010
The latest test of market resistance levels was the result of the decline in the oil services industry stock prices in lieu of the expected costs of clean up and safety. BP was improving profits by cutting corners on rig safety and that caused the burning to death of 11 people and the death of important fishing seabeds. Since the procedural changes that caused the accident were premeditated, BP executives may have to face criminal prosecution unless they buy off the corrupt Obama officials or if the criminal investigation is extended to include the Obama administration officials who Obama claimed were approving all of BP's actions.
It is estimated that the Obama oil spill will add $60 to the cost of drilling new oil and will reduce the supply as well. That will hurt the off shore oil services industry, raise oil prices, and improve profitability of on-shore facilities.
World Markets
Asian markets were mixed last night. Japan's socialist president resigned due to the economic failures of his administration. Anti-American GE/MSNBC/Pravda claimed it was because he decided not to kick America out just when North Korea is going postal. Shanghai up 0.1%, Hong Kong down -0.1%, India up 1%, and Japan down -1.1%.
European markets are down in the range from -0.5% to -1.3% this morning about half way through their day.
US pre-market futures are up before the start by 0.5% to 0.8%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.
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