The "American Anti-Moron" backlash is growing fast in Connecticut and other states.
The New England jobless rate rose 0.3% in July
"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney
Our warriors who took out Bin Laden are taking political action to replace their commander in chief because he has loose lips that put them and all Americans at risk. They had taken Bin Laden’s computer with the addresses of his commanders and Obama leaked everything so they could all get away.
"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said
Cloud computing has the programs running on the Internet not in your private computers. That opens the possibility of private data being accessed on the Internet. With hundreds of billions of appliances and inexpensive sensors that will collect a flood of new data… that will ultimately prove to be too big a temptation to data miners and to government and industrial piracy of government and private intellectual property. It will damage America and the EU more than outsourcing already has. Basically it gives criminals the ability to read the minds of the employees in the corporations in the most advanced countries and in their homes.
According to the Washington Times, Obama is getting the moron vote (mostly women).http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years. The GOP promises that housing prices will rise everywhere but on Capital Hill. All the highest paid morons work for Obama.
A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
The CBS News poll is finally converging with what the more unbiased Rasmussen poll has been saying all along. However the morons are digging in because they are becoming dependent on the Obama gravy train.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 45% of voters nationwide, while President Obama earns the vote from 46%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
India’s gross domestic product rose 5.5 percent in the three months through June from a year earlier.
Asian stocks fell, with the regional benchmark index heading for its first monthly decline since May as reports showed lower industrial output in South Korea and Japan amid slowing economic growth.
An index of executive and consumer sentiment in the 17- nation euro area dropped to 86.1 from 87.9 in July, the lowest since August 2009.
Australia faces a deepening slowdown and falling export prices after windfall gains from exports reached a 140-year high last year.
Infosys Ltd. (INFO), India’s second largest software developer by value, has peaked as outsourcing in the USA already has peaked. If Americans take back the government in November the new tax code will make it profitable to do all work in the USA again.
German unemployment increased for a fifth straight month in August as demand for exports fell and companies held back investment.
Europeans have 15 days to justify bondholder optimism that they can deliver lasting solutions to the contagion of debt turmoil. Then new borrowing is needed.
European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.
China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.
French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.
350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.
Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.
The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
If the backlash wins the election or just shows evidence it will win, then stocks will soar in America and unemployment will begin to tumble down.
The Obama Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren like Obama is doing to future American children. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. Everyone must have skin at risk in the economy. We cannot have 49% of Americans living as freeloading Obama moron supporters.
Case-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.
Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.
MBA Mortgage Index 08/25 -4.3% bad again after -7.4% -
GDP - Second Estimate Q2 1.7% still poor after 1.5% -
GDP Deflator - Second Estimate Q2 1.6% still says the GDP increase is due to inflation1.6% not real growth
Pending Home Sales Jul 2.4% improved from -1.4%
Crude Inventories 08/25 3.778M improved from -5.412M
Yesterday
Initial Claims 08/25 374K up from 372K
Continuing Claims 08/18 3316K constant 3317K
Personal Income Jul 0.3% down from 0.5%
Personal Spending Jul 0.4% down from 0.5%
PCE Prices - Core Jul 0.0% flat from 0.2%
This Week
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 31, 2012
Today the market is looking up after the Republican convention. It is time to get ready to invest again if the market pulls back. The S&P stopped at its upside resistance level set in March. Still no buy signals.
Markets fell yesterday in anticipation that Bernanke is wasting everyone’s time and his Ponzi scheme is an enabler of more socialist debt. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year. September reality is coming home. The socialist myth has evaporated and the morons hold their convention next week and the world gets to hear why the next generation of morons needs subsidized free sex more than scholarships.
There still has been no buy signal. The stock market hit old highs and failed to break out. Obama likes to say the market has risen since the morons took office but the truth is the market collapsed when the morons held their 2008 convention but fell the most when the morons were elected.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The VIX is rising? The low VIX normally precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end. The driving force this year is the election and whether the morons win or losehttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down –0.3%, Hong Kong down –0.4%, India down -0.9, Japan down –1.6%.
European markets are up half way through their day in a range of 0.5% to 1.4%.
American market futures are up at about 0.5% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
Friday, August 31, 2012
Obama wants to “Share the Wealth”; he wants to take his share of your wealth to be exact. September reality is coming home next week. The socialist myth of prosperity with no need to work has evaporated and the morons hold their convention and the world gets to hear why the next generation of Obama morons wants subsidized free birth control for campus sex more than scholarships. Obama likes to say the market has risen since they took office but the truth is the market collapsed during the Obama campaign after Obama said we were in a great depression.
Thursday, August 30, 2012
Cloud computing has the programs running on the Internet not in your private computers. That opens the possibility of private data being accessed on the Internet. With hundreds of billions of appliances and inexpensive sensors that will collect a flood of new data… that will ultimately prove to be too big a temptation to data miners and to government and industrial piracy of government and private intellectual property. It will damage America and the EU more than outsourcing already has. Basically it gives criminals the ability to read the minds of the employees in the corporations in the most advanced countries and in their homes.
Obama wants to "Share the Wealth", his share of your wealth to be exact.
Our warriors who took out Bin Laden are taking political action to replace their commander in chief because he has loose lips that put them and all Americans at risk.
Fortune Magazine this week said that for 25 years CT has been the state with the highest per capita income in the U.S., but is now leading the nation in home-price declines. Now after three years of Obama, housing values are still falling with prices in the bedroom communities of Greenwich and New Canaan now 12.9 percent lower in the second quarter than only a year earlier. Barrons Magazine just rated Connecticut dead last in the nation.
"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney
"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said
Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years.
A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious gun-running, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
The CBS News poll is finally converging with what the more unbiased Rasmussen poll has been saying all along. However the morons are digging in because they are becoming dependent on the Obama gravy train.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 45% of voters nationwide, while President Obama earns the vote from 46%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
An index of executive and consumer sentiment in the 17- nation euro area dropped to 86.1 from 87.9 in July, the lowest since August 2009. It is as bad as confidence in America.
Australia faces a deepening slowdown and falling export prices as windfall gains from exports reached a 140-year high last year.
Infosys Ltd. (INFO), India’s second largest software developer by value, has peaked as outsourcing in the USA already has peaked. If Americans take back the government in November the new tax code will make it profitable to do all work in the USA again. If the imported morons win a second term there will be no work in America or the EU for four more years. Either way Infosys and other big outsource firms will go out of business or will evolve into new kinds of firms over the next four years.
German unemployment increased for a fifth straight month in August as demand for exports fell and companies held back investment.
Europeans have 15 days to justify bondholder optimism that they can deliver lasting solutions to the contagion of debt turmoil. Then new borrowing is needed.
European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.
China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.
French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.
350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.
Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.
The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The QE Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. Everyone must have skin at risk in the economy.
YesterdayCase-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.
Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.
MBA Mortgage Index 08/25 -4.3% bad again after -7.4% -
GDP - Second Estimate Q2 1.7% still poor after 1.5% -
GDP Deflator - Second Estimate Q2 1.6% still says the GDP increase is due to inflation1.6% not real growth
Pending Home Sales Jul 2.4% improved from -1.4%
Crude Inventories 08/25 3.778M improved from -5.412M
This Week
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 30, 2012
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The VIX is rising? The low VIX normally precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end. The driving force this year is the election and whether the morons win or losehttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down –0.1%, Hong Kong down –1.2%, India up 0.3, Japan down -1%.
European markets are down sharply half way through their day in a range of -0.2% to –0.8%.
American market futures are down at about -0.4% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
Our warriors who took out Bin Laden are taking political action to replace their commander in chief because he has loose lips that put them and all Americans at risk.
Fortune Magazine this week said that for 25 years CT has been the state with the highest per capita income in the U.S., but is now leading the nation in home-price declines. Now after three years of Obama, housing values are still falling with prices in the bedroom communities of Greenwich and New Canaan now 12.9 percent lower in the second quarter than only a year earlier. Barrons Magazine just rated Connecticut dead last in the nation.
"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney
"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said
Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years.
A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious gun-running, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
The CBS News poll is finally converging with what the more unbiased Rasmussen poll has been saying all along. However the morons are digging in because they are becoming dependent on the Obama gravy train.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 45% of voters nationwide, while President Obama earns the vote from 46%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
An index of executive and consumer sentiment in the 17- nation euro area dropped to 86.1 from 87.9 in July, the lowest since August 2009. It is as bad as confidence in America.
Australia faces a deepening slowdown and falling export prices as windfall gains from exports reached a 140-year high last year.
Infosys Ltd. (INFO), India’s second largest software developer by value, has peaked as outsourcing in the USA already has peaked. If Americans take back the government in November the new tax code will make it profitable to do all work in the USA again. If the imported morons win a second term there will be no work in America or the EU for four more years. Either way Infosys and other big outsource firms will go out of business or will evolve into new kinds of firms over the next four years.
German unemployment increased for a fifth straight month in August as demand for exports fell and companies held back investment.
Europeans have 15 days to justify bondholder optimism that they can deliver lasting solutions to the contagion of debt turmoil. Then new borrowing is needed.
European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.
China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.
French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.
350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.
Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.
The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The QE Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. Everyone must have skin at risk in the economy.
YesterdayCase-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.
Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.
MBA Mortgage Index 08/25 -4.3% bad again after -7.4% -
GDP - Second Estimate Q2 1.7% still poor after 1.5% -
GDP Deflator - Second Estimate Q2 1.6% still says the GDP increase is due to inflation1.6% not real growth
Pending Home Sales Jul 2.4% improved from -1.4%
Crude Inventories 08/25 3.778M improved from -5.412M
This Week
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 30, 2012
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The VIX is rising? The low VIX normally precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end. The driving force this year is the election and whether the morons win or losehttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down –0.1%, Hong Kong down –1.2%, India up 0.3, Japan down -1%.
European markets are down sharply half way through their day in a range of -0.2% to –0.8%.
American market futures are down at about -0.4% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
Wednesday, August 29, 2012
Everyone must have skin at risk in our economy. We cannot have 49% of Americans living as freeloading Obama moron supporters.
Yes, Obama and his moron constituency are absolutely correct in thinking they did nothing to earn or justify their American inheritance of the infrastructure or the wealth that our American forefathers have left us. They are absolutely right and should go back to the huts that their forefathers left for them or just stop bemoaning the fact that our American forefathers actually worked much harder and built a nation instead of sitting around a fire in a hut eating their dogs like Obama said he and his dad did in Kenya.
But real Americans know that what our forefathers gave us was the a work ethic, a sense of responsibility to everyone, a customer centric business environment, and most of all the opportunity to succeed with free enterprise and the rule not of politicians but of our constitution, a document that Obama says he despises.
Obama would not be such a moron if he just learned a little "real" American history rather than the brain rotting material he studied under brain rotted socialists. The American infrastructure and wealth is just the icing on the cake that the Obama morons know in their heart they did not inherit but want to seize. Obama’s redistribution is just legalized looting of the national treasury.
Obama has disparaged America and kissed his Saudi Kings. Despair, misery and poverty for everyone is the only true socialistic redistribution the Khmer Rouge, the USSR, and Mao ever achieved. And they all achieved their Draconian goals in less than eight years. Now Americans need to boot Obama and his morons out before they destroy America.
The "American Anti-Moron" backlash is growing fast in Connecticut and other states. Fortune Magazine this week said that for 25 years CT has been the state with the highest per capita income in the U.S., but is now leading the nation in home-price declines as Obama nukes American industrial pre-eminence that had driven out multimillion-dollar incomes and property sales. Now after three years of Obama, housing values are still falling with prices in the bedroom communities of Greenwich and New Canaan are 12.9 percent lower in the second quarter than only a year earlier. Barrons Magazine just rated Connecticut dead last in the nation due to moron State Government democrats in bed with state employee unions. Connecticut’s democrat government legalized smoking Mary Jane and ran up a pension overhang plus its accumulated deficit that is now 17% of the Connecticut’s GDP. The result is that many CT Independents and conservative Democrats are beginning to swing and get ready to vote with the Tea Party and Republicans in November. Republican Senate Candidate Linda Mc Mahon has now taken the lead 49% to 46%. She and her husband worked hard and are self-made millionaires. While the women’s vote unfortunately gave us Obama, increasingly women are joining the anti-moron backlash to rebuild the government bequeathed to us by our forefathers.
"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney
"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said
If the "American Anti-Moron" backlash wins the election or just shows evidence it will win, then stocks will soar in America and unemployment will tumble down.
According to the Washington Times, Obama is getting the moron vote (mostly women).
http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years.
A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 44% of voters nationwide, while President Obama earns the vote from 47%http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.
China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.
French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.
350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.
Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.
The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed
Emerging markets will continue to suffer unless Obama is given the heave-ho.
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
Emerging market composite indicates continued breaking down through the recent lowshttp://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The Obama Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. When the collapse occurs as it will under Obama and other socialists there will be revolutions and violence. Governments will quickly confiscate gold. People will have to stay put to hold their only assets their homes. Travel will collapse. America needs to eject Obama and his Senate and House socialists ASAP.
Everyone must have skin at risk in the economy. We cannot have 49% of Americans living as freeloading Obama moron supporters.
YesterdayCase-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.
Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.
This Week
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 29, 2012
If the "American Anti-Moron" back-lash wins the election or just shows evidence it will win then stocks will soar in America and unemployment will tumble down.
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally endhttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down -1%, Hong Kong down -0.1%, India down – 0.8, Japan up 0.4%.
European markets are down half way through their day in a range of -0.6% to +0.2%.
American market futures are down at about -0.1% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
But real Americans know that what our forefathers gave us was the a work ethic, a sense of responsibility to everyone, a customer centric business environment, and most of all the opportunity to succeed with free enterprise and the rule not of politicians but of our constitution, a document that Obama says he despises.
Obama would not be such a moron if he just learned a little "real" American history rather than the brain rotting material he studied under brain rotted socialists. The American infrastructure and wealth is just the icing on the cake that the Obama morons know in their heart they did not inherit but want to seize. Obama’s redistribution is just legalized looting of the national treasury.
Obama has disparaged America and kissed his Saudi Kings. Despair, misery and poverty for everyone is the only true socialistic redistribution the Khmer Rouge, the USSR, and Mao ever achieved. And they all achieved their Draconian goals in less than eight years. Now Americans need to boot Obama and his morons out before they destroy America.
The "American Anti-Moron" backlash is growing fast in Connecticut and other states. Fortune Magazine this week said that for 25 years CT has been the state with the highest per capita income in the U.S., but is now leading the nation in home-price declines as Obama nukes American industrial pre-eminence that had driven out multimillion-dollar incomes and property sales. Now after three years of Obama, housing values are still falling with prices in the bedroom communities of Greenwich and New Canaan are 12.9 percent lower in the second quarter than only a year earlier. Barrons Magazine just rated Connecticut dead last in the nation due to moron State Government democrats in bed with state employee unions. Connecticut’s democrat government legalized smoking Mary Jane and ran up a pension overhang plus its accumulated deficit that is now 17% of the Connecticut’s GDP. The result is that many CT Independents and conservative Democrats are beginning to swing and get ready to vote with the Tea Party and Republicans in November. Republican Senate Candidate Linda Mc Mahon has now taken the lead 49% to 46%. She and her husband worked hard and are self-made millionaires. While the women’s vote unfortunately gave us Obama, increasingly women are joining the anti-moron backlash to rebuild the government bequeathed to us by our forefathers.
"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney
"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said
If the "American Anti-Moron" backlash wins the election or just shows evidence it will win, then stocks will soar in America and unemployment will tumble down.
According to the Washington Times, Obama is getting the moron vote (mostly women).
http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years.
A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 44% of voters nationwide, while President Obama earns the vote from 47%http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.
China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.
French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.
350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.
Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.
The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed
Emerging markets will continue to suffer unless Obama is given the heave-ho.
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
Emerging market composite indicates continued breaking down through the recent lowshttp://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The Obama Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. When the collapse occurs as it will under Obama and other socialists there will be revolutions and violence. Governments will quickly confiscate gold. People will have to stay put to hold their only assets their homes. Travel will collapse. America needs to eject Obama and his Senate and House socialists ASAP.
Everyone must have skin at risk in the economy. We cannot have 49% of Americans living as freeloading Obama moron supporters.
YesterdayCase-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.
Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.
This Week
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 29, 2012
If the "American Anti-Moron" back-lash wins the election or just shows evidence it will win then stocks will soar in America and unemployment will tumble down.
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally endhttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down -1%, Hong Kong down -0.1%, India down – 0.8, Japan up 0.4%.
European markets are down half way through their day in a range of -0.6% to +0.2%.
American market futures are down at about -0.1% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
Tuesday, August 28, 2012
Women are just realizing now that sexist Obama has already branded his women supporters as self centered and empty headed in his selection of the women speakers to represent women at the Democratic convention. One is a stereotype movie star and another is the infamous co-ed who claimed young liberal women students at private universities needed up to $3000/yr of taxpayer provided birth control for their sex lives. Women according to Obama do not need the $3000/yr for scholarships because they are just too sexy. No, Obama says liberal women can afford private universities except they need, (what could instead be scholarship money) $3000/yr, for their sex lives because their male partners can’t afford condoms. Obama says women need the money more to accommodate men with free sex not because women have brains. In other words women who support Obama are being branded as empty headed sex objects for men who cannot afford their own condoms). Men are about 20% less enamored with Obama than are women.
According to the Washington Times, Obama is getting the moron vote (mostly women).http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
We were at 8% GDP spent by government in 1910, we are at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years. A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious gun running socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Connecticut, for 25 years the state with the highest per capita income in the U.S., is now leading the nation in home-price declines as Wall Street trims jobs and bonuses that had driven multimillion-dollar property sales. Prices in the banker bedroom communities of Greenwich and New Canaan, were 12.9 percent lower in the second quarter than a year earlier.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 44% of voters nationwide, while President Obama earns the vote from 47%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
World markets are down sharply today.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed Apple Inc.’s patents and concern mounted corporate earnings growth in developing nations is slowing.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The Obama Ponzi scheme continues to destabilize the American economy. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. When the collapse occurs as it will under Obama and other socialists there will be revolutions and violence. Governments will quickly confiscate gold. People will have to stay put to hold their only assets their homes. Travel will collapse. America needs to eject Obama and his Senate and House socialists.
This Week
Aug 28 9:00 AM Case-Shiller 20-city Index Jun
Aug 28 10:00 AM Consumer Confidence Aug
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 28, 2012
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakout.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
The NASDAQ is near its march level now.http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end.http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 1.7%, Hong Kong up 0.1%, India down – 0.3%, S. Korea down – 0.1%, Japan down –0.6%.
European markets are down sharply half way through their day in a range of -0.4% to –1.7%.
American market futures are down at about 0.2% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
We were at 8% GDP spent by government in 1910, we are at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years. A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.
Clearly Obama Solyndra corruption, gangster fast and furious gun running socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.
Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.
Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.
Connecticut, for 25 years the state with the highest per capita income in the U.S., is now leading the nation in home-price declines as Wall Street trims jobs and bonuses that had driven multimillion-dollar property sales. Prices in the banker bedroom communities of Greenwich and New Canaan, were 12.9 percent lower in the second quarter than a year earlier.
Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 44% of voters nationwide, while President Obama earns the vote from 47%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
World markets are down sharply today.
Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.
Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.
China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."
Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing
Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed Apple Inc.’s patents and concern mounted corporate earnings growth in developing nations is slowing.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.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
American Economy
The Obama Ponzi scheme continues to destabilize the American economy. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets. When the collapse occurs as it will under Obama and other socialists there will be revolutions and violence. Governments will quickly confiscate gold. People will have to stay put to hold their only assets their homes. Travel will collapse. America needs to eject Obama and his Senate and House socialists.
This Week
Aug 28 9:00 AM Case-Shiller 20-city Index Jun
Aug 28 10:00 AM Consumer Confidence Aug
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 28, 2012
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakout.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
The NASDAQ is near its march level now.http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end.http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is now at a depression low. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 1.7%, Hong Kong up 0.1%, India down – 0.3%, S. Korea down – 0.1%, Japan down –0.6%.
European markets are down sharply half way through their day in a range of -0.4% to –1.7%.
American market futures are down at about 0.2% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
Monday, August 27, 2012
We were at 8% GDP spent by government in 1910, we are at 25% before Obama, and Obama has set his deficit spending to take us to 40% of GDP for his government welfare society. A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.
Mitt Romney would drop government to 20% of the GDP as it was under Reagan. Mitt Romney slipped 2% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP.
Two years ago, Bernanke said in his speech that the FOMC "is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly." But everyone knows QE has already lost any simulative benefit and is a destabilizing effect on the bond market. It the bond payout goes from 0.5% to 1% the small 0.5% gain now makes yesterday’s bonds lose half their value bring yesterday’s bonds have the same payout of 1%. So now the threat of QE 4 is ever-greater bong market instability and threat of collapse as well as the admission that stimulation is needed.
According to the Washington Times, Obama is getting the moron vote.
http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
R. Emmett Tyrrell Jr. is founder and editor-in-chief of the American Spectator
Gold advanced to the highest level in 16 weeks after breaking above the 200-day moving average as Bernanke signaled that it may expand the Obama Ponzi scheme and the phony unsupported investment holdings rose to a record.
Once a Moslem always a Moslem… because the Moslem religion places a death sentence (fatwa) on anyone who recants his Moslem beliefs. A movie "2016" reviews Obama’s life in his own words and has opened at many theaters this week. It shows the reasons for Obama wanting to "downsize America" and why he has no respect for America’s founding fathers.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 42% of voters nationwide, while President Obama earns the vote from 47%.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed Apple Inc.’s patents and concern mounted corporate earnings growth in developing nations is slowing.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.
http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.
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
American Economy
Last week The VIX is showing that a bear market is highly probable now and the VIX will have a long way to go up until the VIX is above 30 where bear markets normally end.
Aug 21 2:00 PM FOMC Minutes 7/31 Indicate expanding the Obama CE Ponzi scheme
MBA Mortgage Index 08/18 fell to –7.4% from –4.5%
Existing Home Sales Jul were 4.47M rate up slightly from 4.37M
Crude Inventories 08/18 rose to 5.4M from 3.7M.
Initial Claims 08/18 375K up from 366K
Continuing Claims 08/11 3325K up from 3305K
New Home Sales Jul 372K up from 350K seasonal
FHFA Housing Price Index Jun 0.7% down from 0.8%
Friday
Durable Orders Jul 4.2% up from 1.3% due to aircraft sales
Durable Orders -ex Transportation Jul -0.4% declined again after declining -1.4% last month
This Week
Aug 28 9:00 AM Case-Shiller 20-city Index Jun
Aug 28 10:00 AM Consumer Confidence Aug
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 27, 2012
This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level now.
http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is plunging toward a depression low. Clearly Obama Solyndra corruption, gangster fast and furious socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of production, collapse of small businesses and then the round up of the hated 2%. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China down – 1.7%, Hong Kong down -0.4%, India down - 0.6%, S. Korea down – 0.1%, Japan up 0.2%.
European markets are down sharply half way through their day in a range of +0.8% to –0.2%.
American market futures are up at about 0.3% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
Two years ago, Bernanke said in his speech that the FOMC "is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly." But everyone knows QE has already lost any simulative benefit and is a destabilizing effect on the bond market. It the bond payout goes from 0.5% to 1% the small 0.5% gain now makes yesterday’s bonds lose half their value bring yesterday’s bonds have the same payout of 1%. So now the threat of QE 4 is ever-greater bong market instability and threat of collapse as well as the admission that stimulation is needed.
According to the Washington Times, Obama is getting the moron vote.
http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/
R. Emmett Tyrrell Jr. is founder and editor-in-chief of the American Spectator
Gold advanced to the highest level in 16 weeks after breaking above the 200-day moving average as Bernanke signaled that it may expand the Obama Ponzi scheme and the phony unsupported investment holdings rose to a record.
Once a Moslem always a Moslem… because the Moslem religion places a death sentence (fatwa) on anyone who recants his Moslem beliefs. A movie "2016" reviews Obama’s life in his own words and has opened at many theaters this week. It shows the reasons for Obama wanting to "downsize America" and why he has no respect for America’s founding fathers.
Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.
Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 42% of voters nationwide, while President Obama earns the vote from 47%.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.
Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.
A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed Apple Inc.’s patents and concern mounted corporate earnings growth in developing nations is slowing.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates continued breaking down through the recent lows.
http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.
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
American Economy
Last week The VIX is showing that a bear market is highly probable now and the VIX will have a long way to go up until the VIX is above 30 where bear markets normally end.
Aug 21 2:00 PM FOMC Minutes 7/31 Indicate expanding the Obama CE Ponzi scheme
MBA Mortgage Index 08/18 fell to –7.4% from –4.5%
Existing Home Sales Jul were 4.47M rate up slightly from 4.37M
Crude Inventories 08/18 rose to 5.4M from 3.7M.
Initial Claims 08/18 375K up from 366K
Continuing Claims 08/11 3325K up from 3305K
New Home Sales Jul 372K up from 350K seasonal
FHFA Housing Price Index Jun 0.7% down from 0.8%
Friday
Durable Orders Jul 4.2% up from 1.3% due to aircraft sales
Durable Orders -ex Transportation Jul -0.4% declined again after declining -1.4% last month
This Week
Aug 28 9:00 AM Case-Shiller 20-city Index Jun
Aug 28 10:00 AM Consumer Confidence Aug
Aug 29 7:00 AM MBA Mortgage Index 08/25
Aug 29 8:30 AM GDP - Second Estimate Q2
Aug 29 8:30 AM GDP Deflator - Second Estimate Q2
Aug 29 10:00 AM Pending Home Sales Jul
Aug 29 10:30 AM Crude Inventories 08/25 -
Aug 29 2:00 PM Fed's Beige Book Aug
Aug 30 8:30 AM Initial Claims 08/25
Aug 30 8:30 AM Continuing Claims 08/18
Aug 30 8:30 AM Personal Income Jul
Aug 30 8:30 AM Personal Spending Jul
Aug 30 8:30 AM PCE Prices - Core Jul
Aug 31 9:45 AM Chicago PMI Aug
Aug 31 9:55 AM Michigan Sentiment
Aug 31 10:00 AM Factory Orders Jul
Market outlook August 27, 2012
This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakouthttp://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
The NASDAQ is near its march level now.
http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The low VIX precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is plunging toward a depression low. Clearly Obama Solyndra corruption, gangster fast and furious socialism, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of production, collapse of small businesses and then the round up of the hated 2%. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China down – 1.7%, Hong Kong down -0.4%, India down - 0.6%, S. Korea down – 0.1%, Japan up 0.2%.
European markets are down sharply half way through their day in a range of +0.8% to –0.2%.
American market futures are up at about 0.3% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
Thursday, August 23, 2012
Today Squawk Box today discussed the FED facilitating the Obama fiscal Ponzi Cannibalistic Economics scheme by keeping fed rates low so Obama and his corrupt socialists can eat our children’s lunch and then starve our grandchildren in a future North Korean type totalitarianism. The N Koreans found that 3 million people failed to worship their leader with expected enthusiasm. They solved that problem by moving just those 3 million people into the countryside and then let them starve to death. This solved the problem with the national famine and motivated the entire nation to show proper love and respect at the recent funeral of that Socialist N Korean leader. Now you know why even the Generals wept in the bizarre national funeral in N. Korea.
Tuesday Mario Gambelli downgraded Apple, and MSNBC/PRAVDA/Jim Cramer of Mad Money recommended that you sell Apple now and buy it back below $560/share. The stock market is now far above levels of the DOTCOM bubble. Corporations are more efficient now… not because they are improving their efficiency but because the weak are being either eaten by the strong or they the weak are simply going out of business. The low PE is because the Obama Great Depression is first killing of the weak companies that go infinite in PE before they disappear. Socialism is initially thinning the herd with cannibalism… it is not growing a healthier herd. The profitability of the remaining American corporations today is because the weak are disappearing.
It is all Obama Cannibalistic Economics or Obama CE. We initially grow strong with socialism by eating our young but then there is no future in that. We grow strong in Africa with CE by killing and eating our last elephant herd but then we starve to death. Human cannibalism still existed in Africa and Indonesia well into the 20th century. One of the heirs to the Rockefeller fortune disappeared in Indonesian cannibal country and was believed eaten by the cannibals. Remember socialism is a form of economic cannibalism. Socialists are EC’s (economic cannibals). They eat their young with lies, theft, and Ponzi schemes that steal from the future. They steal from every productive person today and then they borrow from the productive people of the future. QE is just another of the CE schemes that exist and that Obama and Bernanke are using that will bankrupt the USA for the first time in 230 years if we don’t dump Obama and socialism this year.
The worst U.S. drought in a half century and record corn and grain feed lot prices are spurring the massive kill-off of farmers’ cattle herds to the smallest size in two generations, driving beef prices higher.
Gold and silver began their movement upward. The world socialist Quantitative Easing (QE) Ponzi scheme does nothing but keep interest rates at a record low rates so that higher debt can be afforded now by dissolute socialists so that socialists:
can take for themselves more welfare today,
more free cell phones for the children of the Obama voting block,
more free cheese and meat for the Obama voting block
more disability payments for able bodied people in the Obama voting block
and more Solyndra crony socialist corrupted Capitalism for the Obama campaign contributors.
The Obama administration will go down as the most corrupt administration in the history of the USA.
Many members of the policy-setting Federal Open Market Committee said further Obama Cannibalistic Ponzi Economics would probably be needed "fairly soon" without evidence of "substantial and sustainable" improvement in the recovery, according to minutes of the July 31-Aug. 1 meeting released yesterday in Washington.
The S&P 500 tapped its highest mark since May 2008 before bouncing into the red on Tuesday.
HP reported falling earnings and plans a restructuring.
Big Lots reported a 1.9% loss toad for the year.
Dell Inc. third-quarter revenue missed estimates and Dell cut its full-year profit outlook as competition from tablets and an anemic global economic recovery drags down personal computer sales.
The U.S. Court of Appeals in Washington ruled Tuesday and struck down the Obama’s cross-state air pollution rule, saying the EPA overstepped its legal authority and issued standards that were examples of inept crony capitalism deals with First Solar. The court sided with power companies and mining groups challenging to the measure, which caps emissions in more than two dozen states. The rule would end coal mining in America just as China shifts from petroleum to inexpensive coal.
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 46% of voters nationwide, while President Obama earns the vote from 44%.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
Facebook director Peter Thiel sold most of his stake bringing his profits to more than $1 billion, after restrictions on insider sales ended. Now that he has his money he is getting out.
Coca-Cola Hellenic Bottling Co. posted a 15 percent decline in second-quarter profit as poor weather and general economic decline slowed demand.
Urban Outfitters Inc. stock price rose 17 percent in Tuesday New York trading after second-quarter profit rose only 1.2 percent.
Facebook last week unlocked the first of five insider sale restrictions scheduled during its first year as a public company. Facebook shares fell to a record low after insiders could sell 271.1 million shares for the first time since the initial public offering. Facebook will face five times that pressure when another 1.44 billion shares are freed up through November.
Barnes & Noble Inc. euphoria has evaporated as it becomes clear that Microsoft is not interested in them and the largest U.S. bookstore chain will continue to struggle to avoid the fate of the music and movie stores.
Treasuries fell, extending a four- week decline, after Der Spiegel magazine reported the European Central Bank is considering a plan to use the Obama’s quantatative easing Ponzi scheme to cap on euro-area bond yields to contain the debt crisis. But Germany disputes the report.
Lowe’s the second-largest U.S. home-improvement retailer, reported net income dropped 10 percent. Chief Executive Officer Robert Niblock is cutting more than 500 jobs this year after Lowes closed 27 U.S. stores and canceled plans for new locations. HomeDepot stores clearly have been quite empty too so it is hard to understand where their housing industry optimism comes from. As long as the socialists maintain liar loans and Fannie and Freddie’s big salaries for Obama socialist appointees the housing depression will continue.
Once Obama adopted the Japanese failed QE policy he put America on a socialist disaster course that caused a 65% collapse in the Japanese stock marker and began the perpetual depression that socialism eventually brings to every nation that resorts to socialism.
World market this week
Gold advanced to the highest level in 16 weeks after breaking above the 200-day moving average as Bernanke signaled that it may expand the Obama Ponzi scheme and the phony unbacked investment holdings rose to a record. Platinum and silver also extended their rally.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Greek Prime Minister Antonis Samaras will join French president Hollande in Berlin Friday then travel on to Paris on Aug. 25.
Qantas Airways posted its first annual loss in at least 17 years and canceled an order for 35 Boeing Co. (BA) 787-9s Dreamliners because of "lower growth requirements in this uncertain global context," Chief Executive Officer Alan Joyce told reporters.
Iran continues to replace Russia and China as the leader of the world’s psychopathic criminal nations who prefer to be called nonaligned with sanity.
Greek Prime Minister Smaras told a German paper he wants more time from international leaders to complete reforms for his indebted country as a way to soften budget cut blows on society.
The world’s container lines can’t raise freight rates fast enough to cover soaring fuel prices as persistent overcapacity works against the industry.
Japan swung to a trade deficit as Europe imports plummet.
Indonesia idled about 70 percent of tin-smelting capacity in its biggest producing region amid a three-month bear market, curbing the world’s biggest exports and setting the stage for a global shortage.
Tianjin district China announced a multi-year target of $236 billion for industrial investment, joining a similar plan by Chongqing amid local efforts that try to help reverse China’s growth slowdown.
The second shoe of the Obama Worldwide Great Depression is beginning to fall. It is energy related as hydrocarbons are taxed to reduce demand and instead the socialists destroy the margin of profitability of the nation. Britain unexpectedly posted a budget deficit in July as corporation-tax receipts plunged. The shortfall, which doesn’t even include the government support for banks, was $878 million compared with a surplus of $4.48 billion pounds a year earlier, the Office for National Statistics said in London Tuesday. Tax revenue fell 0.8 % and corporation tax plunged 19.3 %. Government spending rose 5.1 %.
Japan vehicle sales will drop as much as 20 percent next quarter as the Japanese subsidies expire.
Germany’s largest utilities are shunning cleaner-burning natural gas because it’s more costly, while the collapsing cost of carbon permits means there’s little penalty for burning coal. Wind and solar projects, central to Germany’s plans to reduce nuclear energy and cut the release of heat- trapping gases, can’t produce electricity around the clock.
Average asking prices in England and Wales fell a record 2.4 percent from July, when values declined 1.7 percent, the operator of Britain’s biggest property website said in London Monday.
Bank of Japan Governor Masaaki Shirakawa, who set the nation’s first inflation goal six months ago to halt a decade-long quantitative easing struggle with deflation, has failed to produce the inflation craved by exporters.
Protests erupted in China and Hong Kong over the weekend as Japanese activists landed on an island in the East China Sea claimed by both countries, intensifying a dispute between Asia’s two biggest economies.
China’s stocks fell to the lowest level this month after real-estate prices rose in the largest number of cities in 14 months.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates it is breaking down through the lows.
http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.
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
American Economy
The market is testing recent highs on very weak volume. The S&P and the NYSE and the DOW Rails all failed to break old highs and failed to reverse their existing sell signals. The recent market rally was due to hedge funds unwinding bets against European stocks at the fastest pace in three years, speculating that European socialist policy makers will join the Obama debt Ponzi scheme to increase debt. That means the hedge funds have stopped buying stocks to cover their shorts and are ready to short again.
The VIX is showing that a bear market is highly probable now and the VIX will have a long way to go up until the VIX is above 30 where bear markets normally end.
This Week
Aug 21 2:00 PM FOMC Minutes 7/31 Indicate expanding the Obama CE Ponzi scheme
Yesterday
Aug 22 7:00 AM MBA Mortgage Index 08/18 fell to –7.4% from –4.5%
Aug 22 10:00 AM Existing Home Sales Jul were 4.47M rate up slightly from 4.37M
Aug 22 10:30 AM Crude Inventories 08/18 rose to 5.4M from 3.7M.
Today
Aug 23 8:30 AM Initial Claims 08/18 370K up from 366K
Aug 23 8:30 AM Continuing Claims 08/11
Aug 23 10:00 AM FHFA Housing Price Index Jun
Aug 23 10:00 AM New Home Sales Jul
This week
Aug 24 8:30 AM Durable Orders Jul
Aug 24 8:30 AM Durable Orders -ex Transportation
Market outlook August 23, 2012
Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP.
This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakout.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
The NASDAQ is near its march level now
http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The VIX is showing record lows not seen since just before the panic of 2007 indicating that a bear market is highly probable now and will have a long way to go up until the VIX is above 30 where bear markets normally end.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is plunging toward a depression low. Clearly Obama Solyndra corruption and gangster fast and furious socialism and Obama’s Goldman Sachs crony capitalism will only end in further collapse of production, collapse of small businesses and then the round up of the hated 2%.Http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were up last night. China up 0.2%, Hong Kong up 1.2%, India up 0.0%, S. Korea up 0.4%, Japan up 0.5%.
European markets are down half way through their day in a range of +0.2% to –0.6%.
American market futures are flat at about -0.1% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
It is all Obama Cannibalistic Economics or Obama CE. We initially grow strong with socialism by eating our young but then there is no future in that. We grow strong in Africa with CE by killing and eating our last elephant herd but then we starve to death. Human cannibalism still existed in Africa and Indonesia well into the 20th century. One of the heirs to the Rockefeller fortune disappeared in Indonesian cannibal country and was believed eaten by the cannibals. Remember socialism is a form of economic cannibalism. Socialists are EC’s (economic cannibals). They eat their young with lies, theft, and Ponzi schemes that steal from the future. They steal from every productive person today and then they borrow from the productive people of the future. QE is just another of the CE schemes that exist and that Obama and Bernanke are using that will bankrupt the USA for the first time in 230 years if we don’t dump Obama and socialism this year.
The worst U.S. drought in a half century and record corn and grain feed lot prices are spurring the massive kill-off of farmers’ cattle herds to the smallest size in two generations, driving beef prices higher.
Gold and silver began their movement upward. The world socialist Quantitative Easing (QE) Ponzi scheme does nothing but keep interest rates at a record low rates so that higher debt can be afforded now by dissolute socialists so that socialists:
can take for themselves more welfare today,
more free cell phones for the children of the Obama voting block,
more free cheese and meat for the Obama voting block
more disability payments for able bodied people in the Obama voting block
and more Solyndra crony socialist corrupted Capitalism for the Obama campaign contributors.
The Obama administration will go down as the most corrupt administration in the history of the USA.
Many members of the policy-setting Federal Open Market Committee said further Obama Cannibalistic Ponzi Economics would probably be needed "fairly soon" without evidence of "substantial and sustainable" improvement in the recovery, according to minutes of the July 31-Aug. 1 meeting released yesterday in Washington.
The S&P 500 tapped its highest mark since May 2008 before bouncing into the red on Tuesday.
HP reported falling earnings and plans a restructuring.
Big Lots reported a 1.9% loss toad for the year.
Dell Inc. third-quarter revenue missed estimates and Dell cut its full-year profit outlook as competition from tablets and an anemic global economic recovery drags down personal computer sales.
The U.S. Court of Appeals in Washington ruled Tuesday and struck down the Obama’s cross-state air pollution rule, saying the EPA overstepped its legal authority and issued standards that were examples of inept crony capitalism deals with First Solar. The court sided with power companies and mining groups challenging to the measure, which caps emissions in more than two dozen states. The rule would end coal mining in America just as China shifts from petroleum to inexpensive coal.
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 46% of voters nationwide, while President Obama earns the vote from 44%.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
Facebook director Peter Thiel sold most of his stake bringing his profits to more than $1 billion, after restrictions on insider sales ended. Now that he has his money he is getting out.
Coca-Cola Hellenic Bottling Co. posted a 15 percent decline in second-quarter profit as poor weather and general economic decline slowed demand.
Urban Outfitters Inc. stock price rose 17 percent in Tuesday New York trading after second-quarter profit rose only 1.2 percent.
Facebook last week unlocked the first of five insider sale restrictions scheduled during its first year as a public company. Facebook shares fell to a record low after insiders could sell 271.1 million shares for the first time since the initial public offering. Facebook will face five times that pressure when another 1.44 billion shares are freed up through November.
Barnes & Noble Inc. euphoria has evaporated as it becomes clear that Microsoft is not interested in them and the largest U.S. bookstore chain will continue to struggle to avoid the fate of the music and movie stores.
Treasuries fell, extending a four- week decline, after Der Spiegel magazine reported the European Central Bank is considering a plan to use the Obama’s quantatative easing Ponzi scheme to cap on euro-area bond yields to contain the debt crisis. But Germany disputes the report.
Lowe’s the second-largest U.S. home-improvement retailer, reported net income dropped 10 percent. Chief Executive Officer Robert Niblock is cutting more than 500 jobs this year after Lowes closed 27 U.S. stores and canceled plans for new locations. HomeDepot stores clearly have been quite empty too so it is hard to understand where their housing industry optimism comes from. As long as the socialists maintain liar loans and Fannie and Freddie’s big salaries for Obama socialist appointees the housing depression will continue.
Once Obama adopted the Japanese failed QE policy he put America on a socialist disaster course that caused a 65% collapse in the Japanese stock marker and began the perpetual depression that socialism eventually brings to every nation that resorts to socialism.
World market this week
Gold advanced to the highest level in 16 weeks after breaking above the 200-day moving average as Bernanke signaled that it may expand the Obama Ponzi scheme and the phony unbacked investment holdings rose to a record. Platinum and silver also extended their rally.
Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.
Greek Prime Minister Antonis Samaras will join French president Hollande in Berlin Friday then travel on to Paris on Aug. 25.
Qantas Airways posted its first annual loss in at least 17 years and canceled an order for 35 Boeing Co. (BA) 787-9s Dreamliners because of "lower growth requirements in this uncertain global context," Chief Executive Officer Alan Joyce told reporters.
Iran continues to replace Russia and China as the leader of the world’s psychopathic criminal nations who prefer to be called nonaligned with sanity.
Greek Prime Minister Smaras told a German paper he wants more time from international leaders to complete reforms for his indebted country as a way to soften budget cut blows on society.
The world’s container lines can’t raise freight rates fast enough to cover soaring fuel prices as persistent overcapacity works against the industry.
Japan swung to a trade deficit as Europe imports plummet.
Indonesia idled about 70 percent of tin-smelting capacity in its biggest producing region amid a three-month bear market, curbing the world’s biggest exports and setting the stage for a global shortage.
Tianjin district China announced a multi-year target of $236 billion for industrial investment, joining a similar plan by Chongqing amid local efforts that try to help reverse China’s growth slowdown.
The second shoe of the Obama Worldwide Great Depression is beginning to fall. It is energy related as hydrocarbons are taxed to reduce demand and instead the socialists destroy the margin of profitability of the nation. Britain unexpectedly posted a budget deficit in July as corporation-tax receipts plunged. The shortfall, which doesn’t even include the government support for banks, was $878 million compared with a surplus of $4.48 billion pounds a year earlier, the Office for National Statistics said in London Tuesday. Tax revenue fell 0.8 % and corporation tax plunged 19.3 %. Government spending rose 5.1 %.
Japan vehicle sales will drop as much as 20 percent next quarter as the Japanese subsidies expire.
Germany’s largest utilities are shunning cleaner-burning natural gas because it’s more costly, while the collapsing cost of carbon permits means there’s little penalty for burning coal. Wind and solar projects, central to Germany’s plans to reduce nuclear energy and cut the release of heat- trapping gases, can’t produce electricity around the clock.
Average asking prices in England and Wales fell a record 2.4 percent from July, when values declined 1.7 percent, the operator of Britain’s biggest property website said in London Monday.
Bank of Japan Governor Masaaki Shirakawa, who set the nation’s first inflation goal six months ago to halt a decade-long quantitative easing struggle with deflation, has failed to produce the inflation craved by exporters.
Protests erupted in China and Hong Kong over the weekend as Japanese activists landed on an island in the East China Sea claimed by both countries, intensifying a dispute between Asia’s two biggest economies.
China’s stocks fell to the lowest level this month after real-estate prices rose in the largest number of cities in 14 months.
Emerging markets will continue to suffer unless Obama is given the heave-ho. 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
Emerging market composite indicates it is breaking down through the lows.
http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: 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 Market is testing moving averages. It gave a sell signal last year. It is at a new high for 2012 but below the 2011 high.
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
American Economy
The market is testing recent highs on very weak volume. The S&P and the NYSE and the DOW Rails all failed to break old highs and failed to reverse their existing sell signals. The recent market rally was due to hedge funds unwinding bets against European stocks at the fastest pace in three years, speculating that European socialist policy makers will join the Obama debt Ponzi scheme to increase debt. That means the hedge funds have stopped buying stocks to cover their shorts and are ready to short again.
The VIX is showing that a bear market is highly probable now and the VIX will have a long way to go up until the VIX is above 30 where bear markets normally end.
This Week
Aug 21 2:00 PM FOMC Minutes 7/31 Indicate expanding the Obama CE Ponzi scheme
Yesterday
Aug 22 7:00 AM MBA Mortgage Index 08/18 fell to –7.4% from –4.5%
Aug 22 10:00 AM Existing Home Sales Jul were 4.47M rate up slightly from 4.37M
Aug 22 10:30 AM Crude Inventories 08/18 rose to 5.4M from 3.7M.
Today
Aug 23 8:30 AM Initial Claims 08/18 370K up from 366K
Aug 23 8:30 AM Continuing Claims 08/11
Aug 23 10:00 AM FHFA Housing Price Index Jun
Aug 23 10:00 AM New Home Sales Jul
This week
Aug 24 8:30 AM Durable Orders Jul
Aug 24 8:30 AM Durable Orders -ex Transportation
Market outlook August 23, 2012
Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP.
This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.
People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The market sell signal is also seen in 3-month market cyclic data. Notice that yesterday wasn’t even a breakout.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
The NASDAQ is near its march level now
http://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Has the VIX bottomed? The VIX is showing record lows not seen since just before the panic of 2007 indicating that a bear market is highly probable now and will have a long way to go up until the VIX is above 30 where bear markets normally end.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=
The Baltic Dry Index says world trade is plunging toward a depression low. Clearly Obama Solyndra corruption and gangster fast and furious socialism and Obama’s Goldman Sachs crony capitalism will only end in further collapse of production, collapse of small businesses and then the round up of the hated 2%.Http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were up last night. China up 0.2%, Hong Kong up 1.2%, India up 0.0%, S. Korea up 0.4%, Japan up 0.5%.
European markets are down half way through their day in a range of +0.2% to –0.6%.
American market futures are flat at about -0.1% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
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