As soon as he began blaming everyone but himself, voters knew he was an irresponsible jerk.

As soon as he began blaming everyone but himself, voters knew he was an irresponsible jerk. Who is he? Everyone knows without mentioning his name.

Hurricane Irene shut us down for a day and the market took off on relatively low volume. It appears the shorts are starting to cover themselves.

Corporate purchases could wipe out short sellers. Uncovered short sellers could face 500% losses to unlimited losses. Warren Buffett said he would/will buy $5Billion in Bank of America yesterday and the stock rose 10% on thenews. What happens when he actually does buy the BAC stock? The multiplier effect could be 20.

This video clearly shows that George Bush warned Congress starting in 2001, that this economic crisis was coming, if something was not done. But liberals and socialists refused to listen, along with the arrogant Congressman, Barney Frank.
This video says it all. The liberal media reportedly did not want this video on You Tube; it was taken off, a violation of our Constitutional right to freedom of the press. This link is of the same video, but is routed through Canada.
Everyone in America needs to see this before it is yanked off the Internet again! Let's see how far we can spread it before it's pulled off the Canadian site.
http://www.youtube.com/watch_popup?v=cMnSp4qEXNM&NR=1


Short positions are at a record high right now and as soon as volume declines again they will get whipped out in the rally. When that happens the covering of short positions will become a significant boost to buying volume. Many companies are likely to buy back their shares at a time when price-to-earnings ratios are low, providing a trigger for a rally of 10% or half the recent 20% decline. We plan to sell when we get a sell signal. It is entirely possible that the rally could reach the recent highs depending on how fast U.S. companies buy back shares since they have high cash ratios and buy backs enormously increase the rise in earnings per share. Warren Buffet said he would invest $5Billion in Bank of America. We are just seeing the corporate money ready to flow into the market and wipe out all the short sellers thus starting another rally. As prices fall it becomes more possible for corporations to take their firms private. Then short sellers could go –500% in the hole.

While the U.S. rate of expansion has slowed slightly, the Chicago Fed’s index of 85 economic indicators improved in July for a third month on gains in production.

Obama is barking at the banks hard now for them to act on all the “liar loan” mortgages he made them accept from his “chosen people.” He forced Bank of America to buy Merrill Lynch and Country Wide and then destroyed Ken Lewis for living to talk about it. Obama knows that Fannie and Freddie were bankrupted by his “liar loans” but instead of admitting his (and Barney Franks) biggest ever shakedown of American taxpayers Obama instead prolongs their dissolution causing bank stagnation and an inability to fund a recovery. As Obama’s “chosen people” continue to strip the vacant homes of their copper plumbing and wiring essentially gutting the houses so they become condemned and worthless. Obama is not letting the housing crisis get resolved because the "liar loan" losses show just how stupid his socialist ideas are and have been. Barking Obama’s socialism is government of the lazy, stupid, and pot heads, by the lazy, stupid, and pot heads, for the lazy, stupid, and pot heads.

We need to stop the handouts to Obama’s chosen people because when all the stupid and lazy people in Greece, America, and the rest of the world are forced to work for a living, we can get out of the debt crisis because the welfare state is the debt crisis.

World Markets:
Gold dropped almost 6% yesterday alone. Silver currently is about 80% overpriced. Bonds, especially higher rate bonds your brokers have been pushing people into during the past year are plunging in value faster than seen since Lehman failed.
http://www.goldprice.org/gold-price.html

Socialist and economists from Pacific Investment Management to the communists at Harvard say ensuring the euro’s existence may require members to leave the 17-nation currency region. So far the rescue bill includes $524 billion in official loans to Greece, Portugal and Ireland, the creation of a 440-billion euro rescue fund and 96 billion euros in bond buying by the European Central Bank.

World markets may have set lows for now and in some cases they set double bottoms.
China
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart2:symbol=000001.ss;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Germany
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=1m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

The Swiss government and central bank talks about a possible target for the Swiss franc to halt its gains has failed and the Swiss franc is rising again. The Swiss market has not yet double bottomed and has a way to go.
http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=1m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Emerging markets also will fall further before they double bottom.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#symbol=%5EBVSP;range=
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=1m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

American Economy-
Last week
Leading Indicators Jul 0.5% up from 0.3%. very good
Durable Orders Jul up 4.0% after bad news -1.9% in June.
Durable Orders -ex Transportation Jul up 0.7% on top of a good up 0.4% last month
FHFA Housing Price Index Jun up 0.9% after increasing 0.4% last month…great news for housing stocks.
GDP - Second Estimate Q2 1.0% down from 1.3%, the first estimate
GDP Deflator - Second Estimate Q2 2.4% up from 2.3%, the first estimate. GDP deflators measure the change in prices in total GDP.
Therefore the inflation adjusted GDP of the Second Estimate second quarter is - Q2 -1.30% down from -1.0%, in the first estimate. That is right the real GDP shrunk another -1.3% in the second quarter.
Michigan Sentiment - Final Aug 55.7 up from 54.9 last month

Monday
Personal Income Jul up 0.3% better than last months 0.1%
Personal Spending Jul up 0.8% much better than last months -0.2%
PCE Prices - Core Jul 0.2% not deflationary like last months 0.1%
Pending Home Sales Jun -1.3% not good last months 2.4%

This Week
Aug 30 9:00 AM Case-Shiller 20-city Index Jun
Aug 30 10:00 AM Consumer Confidence Aug
Aug 30 2:00 PM FOMC Minutes Aug. 9
Aug 31 7:00 AM MBA Mortgage Index 08/27
Aug 31 7:30 AM Challenger Job Cuts Aug
Aug 31 8:15 AM ADP Employment Change Aug
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 10:00 AM Factory Orders Jul
Aug 31 10:30 AM Crude Inventories 08/27
Sep 1 8:30 AM Initial Claims 08/27
Sep 1 8:30 AM Continuing Claims 08/20
Sep 1 8:30 AM Productivity-Rev. Q2
Sep 1 8:30 AM Unit Labor Costs - Rev. Q2
Sep 1 10:00 AM ISM Index Aug
Sep 1 10:00 AM Construction Spending Jul
Sep 1 3:00 PM Auto Sales Sep - NA NA 3.93M
Sep 1 3:00 PM Truck Sales Sep - NA NA 5.56M -
Sep 2 8:30 AM Nonfarm Payrolls Aug - 75K 73K 117K -
Sep 2 8:30 AM Nonfarm Private Payrolls Aug - 100K 110K 154K -
Sep 2 8:30 AM Unemployment Rate Aug - 9.2% 9.1% 9.1% -
Sep 2 8:30 AM Hourly Earnings Aug - 0.2% 0.2% 0.4% -
Sep 2 8:30 AM Average Workweek Aug

Market Outlook August 29 & 30 2011
The market rally should be somewhere between 50% and 90% of the way to the recent spring highs. There may be some consolidation today after Bernacke speaks. We expect a short squeeze to begin as investor volume dries up and corporations find buying their own stock or even other corporations is too good to pass up. The short squeeze will start on it own and then others will jump in so as not to miss the opportunity.

We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=3m&l=on&z=m&q=l&c=

We expect a normal advance now of up to at least 50% of the total decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=6m&l=on&z=l&q=l&p=e50%2Ce100&a=&c=

Economic recovery the past two years was one of Obama’s big lies as he continued to divide Americans, destroyed the American economy with socialism and corruption, and barked at Congress and the increasing numbers of disappointed voters. But could the bulk shipments finally be getting ready to break out? See 3yr and 5yr charts at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Yesterday
Asian Stocks were down last night. China down –1.4%, Hong Kong up 1.4%, India up 3.6%, and Japan up 0.6%.

European markets are up today by about 0% to 2% half way through their day.

American markets futures are up about 1% at 9 AM EST

Today
Asian Stocks were down last night. China down –0.4%, Hong Kong up 1.7%, India up 1.6%, and Japan up 1.2%.

European markets are mixed today -0.6% to 2.2% half way through their day.

American markets futures are down about -0.4% at 9 AM EST

We expect the stock market run-up could be fast now with corporations buying back their own stock at least 50% of the way, possibly to 90% of the recent highs. Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as stupid barking Obama’s socialized medicine and new stupid barking Obama new taxes loom. Remember if the money multiplier effect is 20:1(the money changes hands 20 times) that $500billion becomes $10Trillion so it would only take 10% of the corporations to buy back and to put $1trillion into the stock market