Quicken Loans, Legal Zoom, Sleep Number, and Sleep Train desert Rush Limbaugh

Quicken Loans, Legal Zoom, Sleep Number, and Sleep Train desert Rush Limbaugh because he opposes Americans being forced to pay for Obamacontraceptives, Obamamarihuana, Obamamassages and Obamaprescription sex under Obamamalaise.

GE is holding a cash horde of over $102 billion of untaxed profits in untaxed off shore accounts outside the U.S. and the president of GE is Obama’s economic advisor. GE announced it will lay off 1300 people due to the very poor sales of their electric Obamacar that costs more in energy and pollution to produce and recycle than it saves in energy and pollution during its useful life. Obamamalaise is made possible by the Obamawaste strategy of spending America into a socialist dictatorship. Obama is the first US president to literally bow to an Islamic dictator.

Stockton, Calif., is now competing to be the US’s least literate city, most obese city, most crime-ridden and dangerous city, and now is California’s most insolvent city.

World markets
China cut its growth estimate to an eight-year low as Obamamalaise spreads to China.

Reflation of bank balance sheets will be a boon to European banks now.

Japan’s diminished nuclear capacity will be an economic disaster and makes Japan especially vulnerable to the potential loss of crude supplies, Tanaka said at a conference in Tokyo.

BRIC investors are losing their shirts as state companies freeze prices and growth among the socialist nations and redistribute profits by confiscation.

China is heading toward a hard economic landing. China plans to pirate Apple technology and uses the iPad name to deceive customers with inferior knock-offs. US technology corporations will be forced to pull future production out of China because China’s government gangsters are demanding “protection money” to stay in business in China. Corruption is a high tax on the free enterprise private engine driving China’s economy. “The Obamadepression” spreads there too.
http://finance.yahoo.com/q/ta?s=000001.SS&t=2y&l=on&z=l&q=l&p=e200%2Ce100&a=&c=

Germany broke through the resistance levels but is losing steam.
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 hitting a limit now with a head and shoulder sell signal. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Emerging markets topping. Brazil broke through moving average but did not set a new high. It is now beginning to look like a head and shoulder sell signal coming soon.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

American Economy
Last Week
Durable Orders Jan -4.0% down sharply from +3.0% last month
Durable Orders -ex Transportation Jan -3.2% down sharply from +2.2% last month
Case-Shiller 20-city Index Dec -4.0% worse again and down from -3.7% last month
Consumer Confidence Feb 70.8 improved from 61.1
MBA Mortgage Index 02/25 -0.3% still negative -4.5% -
GDP - Second Estimate Q4 3.0% first they dropped it so now they can raise it 2.8% This is the annual rate
GDP Deflator - Second Estimate Q4 0.9% 0.4% 0.4% 0.4% This is the quarterly rate. The annual inflation is four times the quarterly inflation rate or 3.6%. So if the GDP increased 3% but inflation was 3.6% the real economy declined by (3.0%- 3.6%). It declined 0.6% when inflation is taken out.
Chicago PMI Feb 64.0 up from 60.2
Crude Inventories 02/25 4.160M up from 1.633M

Friday
Initial Claims 02/25 351K flat at 351K
Continuing Claims 02/18 3402K up from 3392K
Personal Income Jan 0.3% down from 0.5%
Personal Spending Jan 0.2% up from 0.0%
PCE Prices - Core Jan 0.2% constant 0.2%
ISM Index Feb 52.4 service sector declined from54.1
Construction Spending Jan -0.1% declined significantly 1.5%

This Week
Mar 5 10:00 AM Factory Orders Jan
Mar 5 10:00 AM ISM Services Feb
Mar 7 7:00 AM MBA Mortgage Index 03/03
Mar 7 8:15 AM ADP Employment Change Feb
Mar 7 8:30 AM Productivity-Rev. Q4
Mar 7 8:30 AM Unit Labor Costs - Rev Q4
Mar 7 10:30 AM Crude Inventories 03/03
Mar 7 3:00 PM Consumer Credit Jan
Mar 8 7:30 AM Challenger Job Cuts Feb
Mar 8 8:30 AM Initial Claims 03/03
Mar 8 8:30 AM Continuing Claims 02/25
Mar 9 8:30 AM Nonfarm Payrolls Feb
Mar 9 8:30 AM Nonfarm Private Payrolls Feb
Mar 9 8:30 AM Unemployment Rate Feb
Mar 9 8:30 AM Hourly Earnings Feb
Mar 9 8:30 AM Average Workweek Feb
Mar 9 8:30 AM Trade Balance Jan
Mar 9 10:00 AM Wholesale Inventories Jan


Market outlook March 5, 2012

We saw shoppers out as the weather improved in New England. It is the first good economic sign we have seen in over a year.

Head and shoulders sell signals are now forming in S&P and NYSE. DOW rails do not confirm the DOW industrial’s rise. No rail confirmation means there is no DOW buy signal. The market nears a precipice of negative economic data.

Contrarian “Surprise Index” says the stock market is overpriced. The WSJ said stock investors might be in for a nasty surprise.
http://www.bloomberg.com/quote/CESIUSD:IND

The VIX shows complacency. A sharp computer sell-off could end the current rally any moment now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=

Baltic Dry Index is creeping up very slowly
http://www.bloomberg.com/quote/BDIY:IND/chart

Stock market update:
Asian Stock markets were down last night. China down –0.6%, Hong Kong down –1.4%, India down –1.6%, Taiwan down –1.4, and Japan down – 0.8%.

European markets are down today in a range -0.4 % to –1.2% half way through their day.

American market futures are down about –0.4% in after hour trading at 7:30 AM EST.