Obama shoots for fuel oil and gasoline prices over $8 /gallon as it is now in most of Europe.

Obama shoots for fuel oil and gasoline prices over $8 /gallon as it is now in most of Europe.

The Obama leftists want to model America after socialist Europe. Having no original thoughts they want to adopt Europe's welfare society, health care, and tiny car/high gas price combination. In France they even tax your color TV, and they put a duty on any gift packages that you get from America. Most Americans in France write home to tell them that the French charged them more for American gifts than they cost in France. Those leftist policies are tariffs that allow Europeans to cheat Americans without violating the many European protective trade laws. High foreign energy prices for US consumers are leaving little left for consumer spending on US products. Obama has strangled US energy production. Spending increased more than expected in February, but data out shows savings rates fell, as Americans used more of their disposable income to pay for basic goods such as heating fuel, electricity gasoline and food.

Caterpillar is considering moving its headquarters from Illinois amid concerns about the state's socialist business policies.

Schlumberger, the world's largest oilfield servicing company, says tumult in the Middle East and Africa will shave down its first-quarter earnings.

Dong Energy A/S, the world’s largest owner of offshore wind parks, will dispose of stakes in additional projects after selling half of its Anholt farm, CEO Anders Eldrup said. Wind energy will not be economically feasible until Obama gets fuel oil and gasoline over $8 /gallon as it is in most of Europe.

Treasuries fell as the government sold $35 billion of two-year securities at the highest yields in almost a year on concern the Federal Reserve will lose control of interest rates as soon as QE2 ends because other countries do not want to fund the Obama $trillions in deficits. The cost of borrowing to support Obama spending on ACORN, Rev. Wright, and Black Panther type objectives is increasing.

World Markets:
Shortages from the socialist's nuclear meltdown in Japan will begin hitting in April. So far Communist USSR and Socialist Japan have had the only accidents that have required evacuations off its people. When Russia's Chernobyl exploded the Black Sea resort had to close down due to radiation in a 200-mile radius. Japan plans to nationalize their nuclear industry so that they can be in the same league as USSR nuclear safety. Socialists are such fools.

China's market prices are in a triangle formation going nowhere and will breakout probably within a month. At this point we believe the breakout will be down because most of the world is tightening belts now and letting interest rats rise to slow demand for debt. Higher rates will put extreme pressure on countries like the "PIIGS", Portugal, Ireland, Iceland, Greece, and Spain. Spain will be the next to fall and beg for a bailout because socialist unions will riot if they don't. The contagion is spreading in the EU.

US Market Highlights

Latest reports out
Personal Income rate for Feb dropped to 0.3% from 1.2% last month.
Personal Spending increased in Feb by 0.7from 0.3% last month.
PCE Prices - Core inflation in Feb was 0.2%/mo (2.4%/yr) up from 0.1%/mo or 1.2% last month.
Pending Home Sales Feb rose 2.1% offsetting most of the decline of -2.8% last month

This week's reports
Mar 29 Case-Shiller 20-city Index Jan fell 3.1%. US single family home prices fell for the seventh straight month bringing prices down to the April 2009 lows.
Consumer Confidence Mar plummeted to 63.4 from 70.4 last month

Mar 30 7:00 AM MBA Mortgage Index 03/25
Challenger Job Cuts Mar
ADP Employment Change Mar
Crude Inventories 03/26

Mar 31 8:30 AM Initial Claims 03/26
Continuing Claims 03/19
Chicago PMI Mar
Factory Orders Feb

Apr 1 8:30 AM Nonfarm Payrolls Mar
Nonfarm Private Payrolls Mar -
Unemployment Rate Mar
Hourly Earnings Mar
Average Workweek Mar
ISM Index Mar
Construction Spending Feb
Auto Sales Apr
PM Truck Sales Apr

Market Outlook March 29, 2011
Monday the early buying volume was extremely low but rose sharply when selling set in and the sellers overwhelmed the buyers. Had not the market closed it could have been a very steep decline. It looks like the second leg of the decline is beginning. There likely will be three legs to the decline.

Look at the 5-day VIX and notice how sharply it rose as the market began to collapse. It means the PUTS will cost a lot more as sellers swing from bullish to bearish. Notice the trend has changed and the second leg of the decline has just begun. Here is the VIX. Look at the last week and the last 3 months to see the turn:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=5d&l=on&z=m&q=l&c=
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=

GE/MSNBC/Pravda lied as usual and said the 50dma held but we told you the truth that it broke down and became the upper resistance level confirming at least an intermediate range decline.

We need to warn you now to liquidate gold and silver as this could be like the market in 73 or 78 when the markets rose and then hit old bottoms. Under Jimmy Carter's malaise he cut energy supplies just as Obama is doing. The success or President Ronald Reagan was due to his selection of intelligent advisors not socialists. President Reagan was a supply-side advocate not an idiot socialist president who got a Socialist Peace prize like Carter and Obama or like super-idiot Gore. Socialists love the Special Olympics and Carter, Gore, and Obama won the Special Olympics for socialist which is the Nobel Peace Prize.

The markets all previously broke below their 50 point moving averages and now appear to be topping out at that level last week. MSNBC lies and says the market did not break through the 50dma. You be the judge. To us it looks like the 47dma is no longer a support level but instead has become the resistance level.

QQQ
http://finance.yahoo.com/q/ta?t=1y&l=on&z=m&q=l&p=e50&a=m26-12-9&c=&s=qqq
S&P
http://finance.yahoo.com/q/ta?s=%5EGSPC&t=1y&l=on&z=m&q=l&p=m50&a=m26-12-9&c=

We expect a crisis of confidence in Obama to begin soon. There are now even reports on U-tube that Obama uses NLP and other covert hypnotic suggestion techniques on his supporters and in his speeches. They are mind control techniques more advanced than Hitler used to mesmerize Nazi Germany. For instance see:
http://www.youtube.com/watch?v=z4iDwV7hCmw

We think the next stock market support level will be down at Nov 4, 2010 levels about another 7% lower. But actually the main support starts about 17% lower than yesterday's close.

World Markets
GE/MSNBC/Pravda lies continuously. International trade shows that the world economy has only revived about 25% not the 60% shown by the stock and commodities markets. That means 60% of the rise from the 2009 lows could evaporate as the initial rise evaporated under Jimmy Carter. See:

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Asian markets fell last night. China down 0.9%, Hong Kong down -0.1%, India up 0.9%, and Japan down -0.2%.

European markets are falling this morning in a range of about -0.3% to -0.9% half way through their day.

US pre-market futures are flat at about 0.2 % at 7:30 AM EST.