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.