Jack Welch said that with a decent president we could be at a national 5% growth rate now and 800,000 new jobs per month.

The Obama campaign is taking notes and will attack Romney’s corporate experience the same way Huntsman and Gingrich are and the way the Democrats defeated the Connecticut Republican candidate for Governor just two years ago. People with real business experience “like firing people” says Huntsman who worked as Obama’s ambassador to China helping Obama’s Advisor Jeffrey R. Immelt, CEO of GE give China much of America’s advanced technology. Or Obama may prefer to run, corporate executives “like looting companies,” says Gingrich who himself looted American taxpayers with $1.6millioin in cash from Fannie and Freddie whose liar loans, Gingrich their advisor kept quiet about.

Did you hear the phrase; “Liberals become so open minded their brains fall out.” We looked up the history of the expression. Here is the oldest close one without Liberals.

(Practical gentlemen) have a number of bitterly sarcastic comments on persons whose minds are so open that their brains fall out. Max Radin (1937) "On Legal Scholarship", The Yale Law Journal May 1937

Here are some even older variants, but without a brain or liberals mentioned:
"Their minds are so open that nothing stays in" (New York Times November 13, 1932),
"a mind so 'open' that almost anything can blow through it without leaving a trace" (New York Times February 4, 1928), and
"a mind so open that it had nothing in it at all" (Edward Clark, Selected speeches, 1908).


Jack Welch pointed out that President Reagan ended the Jimmy Carter stagflation and had 800,000 new jobs created each month not our anemic Obama 200,000 growth rate. The Obama record is so poor at only 200,000 new jobs but it still great to Obama’s Maoists and MSNBC.

7 million unemployed Americans have given up looking for jobs.

World markets
China’s market is down 33% over the last 2 years. China seems to be near their bottom now so if the USA looks like it will throw out Obama then after the current USA rally we will likely have another buying rally the likely it will end on about election day.

Asian markets (especially China) care failing to break out some on the second and third times at resistance levels.
http://finance.yahoo.com/intlindices?e=asia

Germany is showing strength: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart2:symbol=^gdaxi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on

The Swiss are showing strength. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Emerging markets show strength.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine

American Economy
Yesterday
Consumer Credit Nov was up $20.4Bin November… a tremendous spending spree that was three times as much new debt as the $7.6B in October. This monthly measure of consumer debt is volatile and subject to massive revisions. When the change is too good it actually is bad for the following month or two. While we can expect very good retail sales reports now, it means consumers will be strapped for a few months, and worried about tax season coming up.

Today
Jan 10 10:00 AM Wholesale Inventories Nov

This Week
Jan 11 7:00 AM MBA Mortgage Purchase Index 01/07
Jan 11 10:30 AM Crude Inventories 01/07
Jan 11 2:00 PM Fed's Beige Book Jan
Jan 12 8:30 AM Initial Claims 01/07
Jan 12 8:30 AM Continuing Claims 12/31
Jan 12 8:30 AM Retail Sales Dec
Jan 12 8:30 AM Retail Sales ex-auto Dec
Jan 12 10:00 AM Business Inventories Nov
Jan 12 2:00 PM Treasury Budget Dec
Jan 13 8:30 AM Trade Balance Nov
Jan 13 8:30 AM Export Prices ex-ag. Dec
Jan 13 8:30 AM Import Prices ex-oil Dec
Jan 13 9:55 AM Mich Sentiment Jan

Market outlook January 10, 2012

Yesterday, Jack Welch said that with a decent president we could be at a national 5% growth rate now and 800,000 new jobs per month. Not Obama’s 300,000 jobs/mo with 6 million people still looking for work and 200,000 new people each month looking for jobs. There is a lot of catching up to do.

Today we expect to see the last big market upswing of the winter begin after the mini panics that started last August.

American stocks could still hit the 2011 highs by the end of January. The NYSE MACD is definitely bullish and implies we could see the bull market last until November 2012. You can also see the down side cross over occurred in May-June of 2011 in plenty of time to get out of the stock market. The upside cross over came in mid October in time to catch the last dip and the rally. But you can see that most stocks have not recovered yet.
http://www.martincapital.com/index.php?page=graph&view=macd

Now Obama and Holden are suing the banks for the money the racist liars lost when the housing market collapsed all because the racist liars defaulted on the houses they purchased with liar loans and no source of income to make mortgage payments.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction

When it comes to jobs, Obama has to manipulate the government statistics just like all communists do to pretend things are better. Sales are up because consumers have been refinancing at lower rate and dropping their monthly expenses. That improvement can only last a couple months http://www.martincapital.com/index.php?page=graph&view=unemployment

The VIX has is approaching 20 which would indicate complacency. That means the coming exuberant rally will be a good time to take profits and raise cash.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=

We predict we could possibly have as much as 95% stock market recovery. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. Also, remember January was very good last year and the market went down significantly afterwards so January is not necessarily a good predictor for the year. View 1yr. See:
http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart4:symbol=^nya;range=1y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Bulk shipments still at less than 20% of the bulk trade level that existed before Obama declared the USA was in a depression in one of his 2007-2008 campaign speeches. It is also slipping again.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stock markets were up big last night. China up 2.7%, Hong Kong up 0.7%, India up 2.2%, S. Korea up 1.5%, and Japan up 0.4%

European markets are up today in a range –3.5% for Italy to +2.5% for France, half way through their day.

American market futures are mixed at about +0.9% in after hour trading at 7 AM EST. Today we think the US futures will be reliable. It is hopeful that the Obama administration cannot inflict much more damage than it already has. Therefore we expect the last leg up of this interim rally.