Shame on Obama! He steals the credit for the Bin Laden hunt from the American warriors who tracked Osama down.

Shame on Obama! He steals the credit for the Bin Laden hunt from the American warriors who tracked Osama down. He did it in a political commercial as he cuts the medical programs of the warriors and lays them off. In contrast President Bush took the credit for the Saddam Hussein hunt to the warriors packed on a USA carrier.

Obama is a selfish uncompassionate baggard and fool, and he embarrasses Americans with his nastiness. His Occupation Wall Street May Day supporters were caught planning to blow up an Ohio bridge and kill Americans. Five people “associated with Occupy Cleveland” were arrested in a FBI sting operation for requesting explosives intending to bomb the Ohio bridge.


http://www.businessweek.com/news/2012-05-01/five-men-arrested-in-fbi-sting-over-plot-to-bomb-bridge-in-ohio



Obama’s construction report yesterday was manipulated again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site to see how he moved -0.3% of this month’s bad news back to last month after he reported last month. Again the big “Obama lie” is the manipulation and then the comparison of apples and oranges, one old figure manipulated to be worse and the new number inconsistent with the old to make it look improving.

http://biz.yahoo.com/c/e.html



Pfizer said its first-quarter profit plunged as expected on generic competition to its blockbuster cholesterol drug Lipitor.



Apple clearly bungled the Java security patch, placing Mac users at risk in the process. This isn’t the first time Apple has failed to patch a known security issue in a timely fashion, and it reveals a major weakness in the company’s security program. Mac OS X, like other operating systems, relies heavily on third-party components since Apple doesn’t necessarily control the code. Apple is reliant on the software’s developers to manage any security vulnerabilities that come up.



The New York Times reported:

The complaints come from Apple consumers … who say that their accounts have been hijacked or that some apps are falsely advertised. And they come from creators of apps, who say they are having to deal with fraudulent purchases that drain their time and resources. It took Apple 75 days to respond to a hole in Open SSL -- the open-source encryption system that is supposed to protect credit card data from getting loose on the Internet -- even though the vulnerability was made public last September.



Apple’s stock price will likely crumble over the next two quarters. Apple had its best quarter last year and this latest great quarter is hype because it comes from analysts not comparing this “product introductory quarter” with the introduction quarter last year. If they did a valid comparison they would see Apple profits peaked last year and their latest product is not doing as well as last year’s new product. The only quarters when apple does well are the ones when a new product is introduced. There is nothing planned the next two quarters. China is also challenging Apple for the use of the name iPad. It seems Apple got the right to use the name from a Taiwan subsidiary and not from the mainland China headquarters. If Apple gave a dividend equal to its total pot of cash it would only be $30/share or 4% and it would all be gone. At current prices any Apple dividend would be too small to matter. Apple has lost its creator for the final time and each time that has happened Apple has plunged 80% or more starting as soon as investors saw the paltry progress they made without Steve Jobs. Steve Jobs can never rescue Apple again!



At the BlackBerry World expo in Orlando, Florida, RIM showed off a sleek touch-screen device that more closely resembled Samsung smartphone than the keypad-equipped BlackBerrys of old. Samsung just overtook Apple as No. 1 Smartphone Maker in the 1st Quarter. Samsung sold more than 7 million more smartphone units than Apple during the first three months of 2012, landing it the top spot in the worldwide market race. Apple is testing stock market lows since it peaked on March 9.

http://business.blogs.cnn.com/2012/04/27/samsung-overtakes-apple-nokia-in-phone-sales/?hpt=hp_mid



Obama claims America failed. Some times he blames his Obama depression on Bush and sometimes he blames it on free enterprise. Obama, is a poor person when it comes to his thinking. He cannot take responsibility for his stupidity. It is always someone else’s fault.



The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney and President Obama each earning 46% of the vote each. Four percent (4%) would vote for a third party candidate, while another four percent (4%) are undecided. Sixty-eight percent (68%) see the president as politically liberal, while 60% see Romney as politically conservative.

http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll





World market this week

Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."



Spain slipped deeper into a recession, dimming the outlook for the region’s exporters GDP contracted -0.3% even ignoring the amount hidden by inflation.



Fear is that Italy will soon join Spain in the crisis of European Socialism.


Rupert Murdoch is “not a fit person” to lead a major international company, U.K. lawmakers said, after his U.K. unit misled Parliament about the extent of phone hacking at its News of the World tabloid.

The real growth rate in the USA decline in the last quarter from 2.1% to just 0.7% clearly another Obama no-brainer. The USA cannot rescue the world until Obama socialism is no longer a threat to the world.


Standard & Poor’s cut Spain’s sovereign debt rating two levels to BBB+ last week from A. Italy’s short term borrowing costs jumped 58% (1.772, up from 1.119 percent interest) at the sale of 8.5 billion euros ($11.3 billion) of six-month bills as renewed concern about the spread of the region’s debt crisis forced the Treasury to offer higher rates to attract investors.


China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.

http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;


Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.

http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



American Economy

Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.

Personal Income Mar 0.4% up from 0.2%

Personal Spending Mar 0.3% down from 0.8%

PCE Prices - Core Mar 0.2% up from 0.1%

Chicago PMI Apr 56.2 significantly down from 62.2



Yesterday

ISM Index Apr 54.8 up from 53.4

The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.

http://biz.yahoo.com/c/e.html

Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.



Today

May 2 7:00 AM MBA Mortgage Index 04/28

May 2 8:15 AM ADP Employment Change Apr

May 2 10:00 AM Factory Orders Mar - -2.5%

May 2 10:30 AM Crude Inventories 04/28

This Week

May 3 7:30 AM Challenger Job Cuts Apr

May 3 8:30 AM Initial Claims 04/28

May 3 8:30 AM Continuing Claims 04/21

May 3 8:30 AM Productivity-Prel Q1

May 3 8:30 AM Unit Labor Costs Q1

May 3 10:00 AM ISM Services Apr-

May 4 8:30 AM Nonfarm Payrolls Apr

May 4 8:30 AM Nonfarm Private Payrolls Apr

May 4 8:30 AM Unemployment Rate Apr

May 4 8:30 AM Hourly Earnings Apr

May 4 8:30 AM Average Workweek Apr


Market outlook May 2, 2012

A big move is expected Friday on options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?

Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
No DOW Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is looking like a head and shoulder sell signal forming in the Rails too. We are a few days away from a complete breakdown of the market.

http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
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 has just peaked this past month at only at 10% of its 2008 high. This is a sign that China’s recovery is stalling. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur.

http://www.bloomberg.com/quote/BDIY:IND/chart



Stock market update:

Mainland Chinese markets were higher last night making up for the Asian markets being closed while the rest of the world re-tested but failed to make new highs. China up 1.7%, Hong Kong up 1%, India unchanged, Japan up 0.3%%

European markets were mixed half way through their day, in a range of -1% to +2%

American market futures are down about –0.2% in after hour trading at 7AM EST.