Wednesday, October 31, 2012
Six weeks after the American Ambassador asked for more security, and then the American Ambassador and three other Americans were killed in Libya and the same day the killers identified themselves as terrorists... the President still lies to Americans. He is holding an American Jew in jail because he made an irrelevant 3rd rate Utube video. Obama said his free-speech video was a parole violation so the prisoner cannot speak until after the presidential election next week. Charles Woods, the grieving father of murdered Navy SEAL Tyrone Woods was at the memorial service for his son and the three other Americans killed. Friday he said that U.S. officials who denied a request for help while the diplomatic compound in Benghazi was under attack "are murderers of my son."
http://www.foxnews.com/politics/2012/10/26//
America’s nuclear-power industry survived Sandy’s readiness test with flying colors.
Apple’s Scott Forstall was reported to have said there’s no "decider" now that Steve Jobs is gone. Steve Jobs' replacement, Tim Cook took issue and Scott Forstall is looking for another job now. Apple’s earnings are declining. The firing of Forstall and Browett highlights why Apple is now imploding. Steve Jobs was such a capable entrepreneurial executive that he was able to fill in the weaknesses of competent executives and use them to their fullest extent. Unfortunately, Scott Forstall lacks that entrepreneurial skill and hence the entire team is diminished by Scott’s inability to make entrepreneurial timing decisions. Hence Apple pushed their mapping application before it was ready and their latest iPad is a failure by Steve Job’s criteria of product growth. Hence Apple cannot sustain its high PE multiple and will likely meander and then fall. One early indication that Tim Cook was no entrepreneur was his acting imitation of Steve Jobs. It was not that the imitation was so bad but that Tim felt he could hot be himself and come up with his own brand of good salesmanship.
In mid September, at the Univision forum, Jorge Ramos asked Obama to defend his administration’s Fast and Furious US government gun running program, which allowed 1,961 guns to go to Mexican drug cartels. The irresponsible Obama replied, "I think it’s important for us to understand that the Fast and Furious program was a field-initiated program begun under the previous administration." Problem is, this is another of Obama’s flat out lies. As multiple fact-checkers have confirmed, the ATF started Fast and Furious in October 2009, nine months into the Obama presidency. Does anyone care if Obama continues to lie about arming the Mexican drug cartels?
http://washingtonexaminer.com/morning-examiner-does-obama-have-a-fast-and-furious-problem/article/2509471
Monday, Burger King Worldwide posted an 83% decline in third-quarter earnings.
Hurricane Sandy grounded 12,500 flights Monday and Tuesday as the storm barreled toward the northeast and forced the region’s major airports to suspend operations. It is the largest storm with the lowest pressure ever recorded in the USA at its eye. Damage is expected to exceed $20 Billion in U.S.
Mitt Romney said he will "fight for every American job." He said, "Obama sold Chrysler to Italians who are going to build their Jeeps in China."
Apple is a sinking Titanic and they know it and many are abandoning ship in a hurry. In the mean time CEO Tim Cook has re-arranged the deck chairs. Scott Forstall, the head of mobile software, and John Browett, who leads retail operations, will depart amid the biggest management overhaul yet under Chief Executive Officer.
The Rasmussen Reports Tuesday that the Presidential Tracking poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
The euro-area jobless rate climbed to a record in September as the fiscal crisis and tougher austerity measures threatened to deepen the economy’s slump. Unemployment in the 17-nation EU rose to 11.6 percent from 11.5 percent in August, the European Union’s statistics office said today. That’s the highest since the data series started in 1995. The data also showed that youth unemployment is at 23.3 percent, with Spain’s rate more than double that, at 54.2 percent.
Hollande’s French decisions are noted for their contrast with neighboring Spain and Italy, which are dramatically restructuring their economies to cope with Europe’s debt crisis as it enters its fourth year.
Commodities decline for the third straight week, the longest losing streak since April erasing this year’s gain on mounting concern about slowing world economic growth if Obama is re-elected.
Retail sales in Spain fell 11 percent in September from a year ago, the National Statistics Institute said Monday. The Bank of Spain estimated last week that GDP fell for the fifth consecutive quarter.
China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom. We are selective buyers. The rising tide of a Romney presidency will carry the world markets higher too if he wins.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. Choose 2 or 5 years. If Obama is elected his incompetence will likely drive the world into a full-blown depression.
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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
U.S. equity trading closed for a second day Tuesday due to Hurricane Sandy flooding.
Last Week
MBA Mortgage Index 10/20 -12.0% down further from -4.2%. This includes both existing and new housing and it is down.
New Home Sales Sep 389K up from 373K. This says new housing sales are up 4.2% over the previous month and the previous statistic said the total was down another 12%. That means existing home sales fell 16.2%. That means the Obama/Bernanke housing policy continues at a high level of incompetence.
FHFA Housing Price Index Aug 0.7% increased from 0.2%
Crude Inventories 10/20 5.896M increased from 2.860M as speculators dump on the market the oil they hid in tankers.
FOMC Rate Decision Oct 0.25% no change from 0.25%
Initial Claims 10/20 369K down from 388K
Continuing Claims 10/13 3254K up from 3252K
Durable Orders Sep 9.9% a good increase from -13.2%
Durable Orders -ex Transportation Sep 2.0% also a good improvement from -1.6%
Pending Home Sales Sep 0.3% up significantly from -2.6%
GDP Adv. Q3 2.0% vs 1.3% for the last estimate ignores inflation and useless
Chain Deflator-Adv. Q3 2.8% vs 1.6% this is the inflation
GDP-deflation Adv. Q3 -0.8% vs –0.3% GDP got much worse accounting for inflation.
Michigan Sentiment - Final Oct 82.6 got worse from 83.1
Personal Income Sep 0.4% up from 0.1%
Personal Spending Sep 0.8% up from 0.5%
PCE Prices - Core Sep 0.1% same as 0.1%
Yesterday
Case-Shiller 20-city Index Aug rose to 2% from 1.2%
Today
Consumer Confidence Oct
Oct 31 7:00 AM MBA Mortgage Index 10/27
Oct 31 8:15 AM ADP Employment Change Oct
Oct 31 8:30 AM Employment Cost Index Q3
Oct 31 9:45 AM Chicago PMI Oct
Oct 31 10:30 AM Crude Inventories 10/27
This Week
Nov 1 7:30 AM Challenger Job Cuts Oct
Nov 1 8:30 AM Initial Claims 10/27
Nov 1 8:30 AM Continuing Claims 10/20
Nov 1 8:30 AM Productivity-Prel Q3
Nov 1 8:30 AM Unit Labor Costs Q3
Nov 1 10:00 AM ISM Index Oct
Nov 1 10:00 AM Construction Spending Sep
Nov 1 10:00 AM Consumer Confidence Oct
Nov 1 2:00 PM Auto Sales Oct
Nov 1 2:00 PM Truck Sales Oct
Nov 2 8:30 AM Nonfarm Payrolls Oct
Nov 2 8:30 AM Nonfarm Private Payrolls Oct
Nov 2 8:30 AM Unemployment Rate Oct
Nov 2 8:30 AM Hourly Earnings Oct
Nov 2 8:30 AM Average Workweek Oct
Nov 2 10:00 AM Factory Orders Sep
Market outlook Oct 31, 2012
This election is extremely important for America if we are going to remain in a free and prosperous world. Many stocks continue near their lows and are good investments. But unless Mitt Romney wins, the world will have a worsening four years. Mitt Romney continues to advance in the Rasmussen polls. If Obama wins re-election, America and the world will be in deep trouble because he is a socialist who is typically ignorant, quarrelsome, and lazy.
The fiscal cliff is still an unpleasant uncertainty unless Romney wins Congress as well as the presidency.
The DJRails must still confirm the DJIndustrials for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. But evidence is that the two are now converging and it is a matter of there being another rally.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is flat lined. It appears to be manipulated. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index dropped again but is in an upward trend. China probably hit bottom and has begun to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were up last night with China up 0.3%, Hong Kong up 1%, India up 0.4%, S. Japan up 1%.
European markets are mixed half way through their day an average of about –0.3%% to 0.8%
American market futures are up about 0.3 % in after-hour trading at 9:00 AM EST. This indicator does not correlate with anything.
Friday, October 26, 2012
This election is extremely important for America if we are going to remain in a free and prosperous world. Socialism is a chronic and terminal disease. Our Constitutional right to own guns is not there just for hunting or protecting ourselves from criminals. It is a Constitutional right to rebel against any future dictatorship that tries to take away our American Constitutional protections including our right to own guns and have our form of Republic that uses an electoral college to impede a Hugo Rafael Chávez type dictatorship like they have had for 13 years in Venezuela. America has remained great because our founding fathers knew that a dictatorship of the proletariat (the majority) is the greatest evil. It hides the fact that it is run by a Hitler, Lenin, Stalin, Mao, or Hugo Chávez, etc that imprisons or kills their opponents.
Apple is going down the failed litigation path of Microsoft and opening itself to EU and World Court law suits for unfair competition. "Apple Inc delivered a second straight quarter of disappointing results and iPad sales fell well short of Wall Street's targets, marring its record of consistently blowing past investors' expectations." "Apple fails to impress markets with the launch of 'iPad mini'." "But the much-heralded launch left Wall Street underwhelmed," "Apple shares closing down 3.3pc, wiping about $15bn from the company's market value." "Apple Inc must defend against a lawsuits accusing it of letting advertisers secretly track the location and every activity of millions of mobile device users." A US District Judge has delayed Apple's plans to block the US launch of Samsung's Galaxy S III." But far more serious is the failure of Apple to maintain a rate of growth to support its PEG ratio of 0.6 that Steve Jobs maintained.
Obama has made Social Security into a welfare system for the poor and the disabled and while Senior Citizens are entitled to welfare he says the current seniors did not earn their SocialSecurity and it is not guaranteed to them. Social Security pays for hearing aids, wheelchairs and Ritalin to control disruptive children in schools. Over the years socialists have transformed Social Security into an entitlement for everyone not just for people who contributed to it. And that is how they bankrupted Social Security. When 51% of voters are on socialist welfare entitlements the working people of America will be taxed and will be the slaves keeping socialism alive until they go on strike. It is time to quote the wisdom our American founding fathers again.
The American Constitution was the first in the world to protect the rights of individuals, minorities, and states by limiting the power of the federal government. It was well understood from earlier democracies that in a democracy of three persons, two persons could create and pass laws to legally expropriate and redistribute the wealth or labor of any third person. Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), "To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it." In fact under English colonial law the ruling majority had already democratically classified some minority peoples as goods to be bought, used, and sold. Slavery is a democratic choice in N. Korea. As long as everyone is a slave to a dictator, no one is a slave. We pledge allegiance to a Republic (not a democracy) because that is what the Founding Fathers intended. The American Constitution was designed for a Republic specifically to limit federal government power. The government is divided into three branches of power, each completely unique with differing election terms, checks and balances. In the Senate, small states have the same power as populous states. In the electorate the smaller states also get more weight. That is why an American President is elected by the Electoral College not the majority of Americans and that was different in year 2000 and on other occasions. These impediments to strong centralized majority power were included in the American Constitution because every pure democracy before America was short lived and often ended in a bloodbath.
If current forecasts are correct, hurricane Sandy will grow into a "Frankenstorm" and may become the worst to hit the U.S. Northeast in 100 years.
Shares in the world's most valuable technology company briefly dipped to levels not seen since the start of August, after it delivered a 27 percent rise in revenue for its fourth quarter while earnings rose 24 percent. The numbers, while in line with expectations, lacked the positive surprises that investors had grown used to and came after Apple undershot revenue targets in the previous quarter.
Colgate will cut 6 percent of jobs in their restructuring program.
Obama did not mention "Human caused climate change" once in his campaign and he is a big disappointment to his Lunatic Fringe. Good for him.
Wednesday, Warren Buffet attributed the Obama economic malaise to the business uncertainties of his policies and deficits.
Bloomberg reported that Israeli Prime Minister Benjamin Netanyahu advised President Barack Obama last month to back off, saying the U.S. had "no moral right" to stop Israel from attacking Iran in a bid to cripple its nuclear program. In turn, Obama decided not to meet the Israeli leader again on his next visit to the U.S. Obama compounded the snub when he said in a "60 Minutes" interview that he would "block out the noise" of Netanyahu.
When Mitt Romney is elected we can expect that John Gault will likely say it is time for free enterprise and American creativity to engage the world again. The world with Obama has become a world of mayhem. He has destabilized the entire Mid-East, and a state of Obama mayhem exists now in Syria, Iraq, Libya, Egypt, Lebanon, Somalia, and Afghanistan.
GM sells a few thousand Volt cars at a huge loss to American taxpayers that still own most of GM because Obama can’t sell the stock we taxpayers own without bankrupting other investors a second time by making the stock worthless. No one in his or her right mind buys GM stock these days after his or her experience with government management at GM. That is what socialists do, they destroy private enterprise by bankrupting investors so investors join John Galt on strike.
Obama is using the EPA to destroy American auto industry. He brags about car sales being up but if you look at the numbers, foreign auto sales have been growing twice as fast as American sales in America since Obama was elected. Romney made it clear that Obama is either a liar, a fear monger, or just ignorant for not knowing that bankruptcy is a standard American free enterprise process for restructuring corporations in exchange for forgiving their debt. It is only after several bankruptcies that an Airline or other corporation is driven to finally fail by their powerful unions. Then bankruptcy finally shuts them down. Powerful unions have destroyed our auto industry, our American public educational system, and State worker’s unions are now destroying our state governments and they are financing socialist candidates. They are the main reason the cost of government, education, and health care are out of control.
When quantitative easing runs out of steam interest rates will rise. Treasuries just fell, pushing 10-year yields to the highest in five weeks, before a $29 billion sale of seven-year notes. Perhaps this is the end of the road for QE.
Boeing disclosed a 6% dip in third-quarter profits due to higher pension expenses.
Colgate will cut 6 percent of jobs in restructuring program.
The U.S. said Wednesday it is suing Bank of America for $1 billion on allegations that Countrywide engaged in a scheme to defraud' Fannie Mae and Freddie Mac between 2007 and 2009 before Goldman Sack’s Paulson forced BOA to take over Countrywide because everyone knew Countrywide was engaged in fraud. BOA was America’s greatest bank before they stood up to the Socialists and tried to get out of that countrywide acquisition.
3M sales were down and forecast it will hit profits next time.
Xerox net income was down 12%.
Xerox is indicating very weak sales.
Presidential candidate Mitt Romney began this final full month of the 2012 campaign with $178 million to spend Bloomberg compared with $111 million for befuddled Obama.
The White House still hasn’t even agreed to direct talks with Iran’s government on its maniacal nuclear program, even as Iran remains open to such negotiations, National Security Council spokesman Tommy Vietor said.
Apple plans to announce the little iPad that is what they said their big iPad was supposed to make obsolete.
The Rasmussen Reports Thurdsay Presidential Tracking poll shows; Mitt Romney earns 50% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins. http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
Meyer Burger Technology, Europe’s biggest provider of equipment to the solar industry, fell 6 percent to the lowest intraday value in 2 1/2 years low as analysts see that demand is the product of corrupt socialist environmental science. Gradually the West is waking up to the fact that the bad science of the USSR is the model for "socialist global warming science." There is a failure of Western schools to teach "critical thinking" as socialist teachers unions run western schools. Intelligent Scientists says there has been a global warming and cooling cycle for a million years before there were humans and the amount of CO2 liberated by burning fossil fuels is insignificant compared to how much was in the atmosphere when it was laid down in the earth.
Unemployment in Spain sets a new record exceeding 25% While Italian business confidence fell this month fueled pessimism among manufacturers (manufacturing-sentiment index) declined this month from a 88.3 in September to 87.6.
Seasonal oil retail prices are now sliding rapidly as the northern hemisphere finishes filling their heating fuel tanks and vacations in the northern hemisphere decline rapidly.
South Africa’s debt-service costs and falling tax receipts from the poor who once had jobs, are threatening to undermine spending on police, housing and schools adding to deepening strains on the socialist welfare state. They have been following Obama’s ideas for four years.
Japan had a record trade deficit for the April to September period, as sovereign debt troubles in Europe and rising tensions with China caused Japanese exports to decline.
The Hong Kong Monetary Authority continues to manipulate their currency downward to control the exchange rate which has climbed to HK$7.75 an upper limit for manipulation.
Ford Motor Co. will shut three European plants and will cut about 5,700 jobs to stem losses that the company predicts will exceed $1 billion in 2012.
Britain exited their double-dip recession in the third quarter as Olympic ticket sales and a surge in services provided the strongest growth in five years.
Russia’s largest retirement funds are being scuttled by the corrupt Putin government. Putin wants to steal their $70 billion in pensions saved by frugal Russians to pay current expenses of the socialist demagogues.
China’s output decline is now decelerating and appears to be bottoming as the Obama depression looks to be voted out of office in two weeks.
World oil is at a three month low.
The Ifo institute in Munich said the computer business climate index dropped to 100.0 from 101.4 in September That’s the sixth straight decline and the lowest reading since February 2010.
Euro-area services and manufacturing contracted more than economists forecast in October and German business confidence dropped to the lowest in more than 2 1/2 years as Europe’s recession deepened. Themposite index of purchasing managers in services and manufacturing fell to 45.8, the lowest in more than four years, from 46.1 in September. Economists had forecast an improvement to 46.5, according to Bloomberg. In Germany, the Ifo institute’s business climate index dropped to 100.0 from 101.4 in September.
EU Quantitative Easing has another court challenge from Ireland on Tuesday.
Spanish junk debt was downgraded by Moody again.
The 17 nation EU debt climbed to 87.3 percent of gross domestic product in 2011 from 85.4 percent the previous year, the EU’s statistics office in Luxembourg said Monday. That’s a new record high since the euro was introduced in 1999. Greece topped the list with debt at 170.6 percent of GDP, followed by Italy and Portugal at 120.7 percent and 108.1 percent. The EU’s debt-to-GDP limit is supposed to be 60 percent.
Canada has rejected the takeover of its gas energy resources by an Asian company and that worries China.
Europe has a plan to do something for Spain… tomorrow or next year, whichever comes last.
Oil traded near the lowest close in two weeks on speculation that global demand may weaken. But speculators had been using empty barges to hide the oil and drive prices higher. That is why the swings in prices are so great.
China’s stocks fell, sending the benchmark index to the greatest loss in weeks, on concern corporate earnings are worsening and local governments will take further steps to cool the property market.
Japanese exporters dropped as shipments slid 10.3 percent in September from a year earlier, leaving a trade deficit of $7 billion.
Credit Suisse, UBS expects to cut 7,000 jobs.
China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom. We are selective buyers. The rising tide of a Romney presidency will carry the world markets higher too if he wins.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
Bank of America is fairly optimistic, with a 1,450 price target on the Standard & Poor's 500 (^GSPC) through year's end and a 1,600 target for 2013.
There is a fiscal cliff ahead and if Romney wins will Obama spitefully push America over the cliff as his last presidential act? The cliff comes January 1 and Mitt Romney would not be president then and Obama would still have his Lame Duck democrat Senate.
MBA Mortgage Index 10/20 -12.0% down further from -4.2%. This includes both existing and new housing and it is down.
New Home Sales Sep 389K up from 373K. This says new housing sales are up 4.2% over the previous month and the previous statistic said the total was down another 12%. That means existing home sales fell 16.2%. That means the Obama/Bernanke housing policy continues at a high level of incompetence.
FHFA Housing Price Index Aug 0.7% increased from 0.2%
Crude Inventories 10/20 5.896M increased from 2.860M as speculators dump on the market the oil they hid in tankers.
FOMC Rate Decision Oct 0.25% no change from 0.25%
Today
Initial Claims 10/20 369K down from 388K
Continuing Claims 10/13 3254K up from 3252K
Durable Orders Sep 9.9% a good increase from -13.2%
Durable Orders -ex Transportation Sep 2.0% also a good improvement from -1.6%
Pending Home Sales Sep 0.3% up significantly from -2.6%
This Week
Oct 26 8:30 AM GDP-Adv. Q3
Oct 26 8:30 AM Chain Deflator-Adv. Q3
Oct 26 9:55 AM Michigan Sentiment - Final Oct
Market outlook Oct 26, 2012
This election is extremely important for America if we are going to remain in a free and prosperous world. Socialism is a chronic and terminal disease and Obama is a hard-boiled socialist who is insane enough to run guns and kill 30,000 innocent Mexicans to try to make guns illegal in America.
Many stocks continue near their lows and are good investments. But unless Mitt Romney wins, the world will have a worsening four years. Mitt Romney continues to advance in the Rasmussen polls. If Obama wins re-election, America and the world will be in deep trouble because he is a Greek style socialist that is usually ignorant, quarrelsome, and lazy.
The fiscal cliff is still an unpleasant uncertainty unless Romney wins Congress as well as the presidency.
The DJRails must still confirm the DJIndustrials for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. But evidence is that the two are now converging and it is a matter of there being another rally.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is flat lined. It appears to be manipulated. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index dropped again but is in an upward trend. China probably hit bottom and has begun to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down sharply last night with China down -1.7%, Hong Kong down -1.2%, India down -0.7%, S. Japan up 1.4%.
European markets are down half way through their day an average of about 0% to 0.9%
American market futures are down about -0.4 % again in after-hour trading at 9:00 AM EST. This indicator does not correlate with anything.
Obama has made Social Security into a welfare system for the poor and the disabled and while Senior Citizens are entitled to welfare he says the current seniors did not earn their SocialSecurity and it is not guaranteed to them. Social Security pays for hearing aids, wheelchairs and Ritalin to control disruptive children in schools. Over the years socialists have transformed Social Security into an entitlement for everyone not just for people who contributed to it. And that is how they bankrupted Social Security. When 51% of voters are on socialist welfare entitlements the working people of America will be taxed and will be the slaves keeping socialism alive until they go on strike. It is time to quote the wisdom our American founding fathers again.
The American Constitution was the first in the world to protect the rights of individuals, minorities, and states by limiting the power of the federal government. It was well understood from earlier democracies that in a democracy of three persons, two persons could create and pass laws to legally expropriate and redistribute the wealth or labor of any third person. Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), "To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it." In fact under English colonial law the ruling majority had already democratically classified some minority peoples as goods to be bought, used, and sold. Slavery is a democratic choice in N. Korea. As long as everyone is a slave to a dictator, no one is a slave. We pledge allegiance to a Republic (not a democracy) because that is what the Founding Fathers intended. The American Constitution was designed for a Republic specifically to limit federal government power. The government is divided into three branches of power, each completely unique with differing election terms, checks and balances. In the Senate, small states have the same power as populous states. In the electorate the smaller states also get more weight. That is why an American President is elected by the Electoral College not the majority of Americans and that was different in year 2000 and on other occasions. These impediments to strong centralized majority power were included in the American Constitution because every pure democracy before America was short lived and often ended in a bloodbath.
If current forecasts are correct, hurricane Sandy will grow into a "Frankenstorm" and may become the worst to hit the U.S. Northeast in 100 years.
Shares in the world's most valuable technology company briefly dipped to levels not seen since the start of August, after it delivered a 27 percent rise in revenue for its fourth quarter while earnings rose 24 percent. The numbers, while in line with expectations, lacked the positive surprises that investors had grown used to and came after Apple undershot revenue targets in the previous quarter.
Colgate will cut 6 percent of jobs in their restructuring program.
Obama did not mention "Human caused climate change" once in his campaign and he is a big disappointment to his Lunatic Fringe. Good for him.
Wednesday, Warren Buffet attributed the Obama economic malaise to the business uncertainties of his policies and deficits.
Bloomberg reported that Israeli Prime Minister Benjamin Netanyahu advised President Barack Obama last month to back off, saying the U.S. had "no moral right" to stop Israel from attacking Iran in a bid to cripple its nuclear program. In turn, Obama decided not to meet the Israeli leader again on his next visit to the U.S. Obama compounded the snub when he said in a "60 Minutes" interview that he would "block out the noise" of Netanyahu.
When Mitt Romney is elected we can expect that John Gault will likely say it is time for free enterprise and American creativity to engage the world again. The world with Obama has become a world of mayhem. He has destabilized the entire Mid-East, and a state of Obama mayhem exists now in Syria, Iraq, Libya, Egypt, Lebanon, Somalia, and Afghanistan.
GM sells a few thousand Volt cars at a huge loss to American taxpayers that still own most of GM because Obama can’t sell the stock we taxpayers own without bankrupting other investors a second time by making the stock worthless. No one in his or her right mind buys GM stock these days after his or her experience with government management at GM. That is what socialists do, they destroy private enterprise by bankrupting investors so investors join John Galt on strike.
Obama is using the EPA to destroy American auto industry. He brags about car sales being up but if you look at the numbers, foreign auto sales have been growing twice as fast as American sales in America since Obama was elected. Romney made it clear that Obama is either a liar, a fear monger, or just ignorant for not knowing that bankruptcy is a standard American free enterprise process for restructuring corporations in exchange for forgiving their debt. It is only after several bankruptcies that an Airline or other corporation is driven to finally fail by their powerful unions. Then bankruptcy finally shuts them down. Powerful unions have destroyed our auto industry, our American public educational system, and State worker’s unions are now destroying our state governments and they are financing socialist candidates. They are the main reason the cost of government, education, and health care are out of control.
When quantitative easing runs out of steam interest rates will rise. Treasuries just fell, pushing 10-year yields to the highest in five weeks, before a $29 billion sale of seven-year notes. Perhaps this is the end of the road for QE.
Boeing disclosed a 6% dip in third-quarter profits due to higher pension expenses.
Colgate will cut 6 percent of jobs in restructuring program.
The U.S. said Wednesday it is suing Bank of America for $1 billion on allegations that Countrywide engaged in a scheme to defraud' Fannie Mae and Freddie Mac between 2007 and 2009 before Goldman Sack’s Paulson forced BOA to take over Countrywide because everyone knew Countrywide was engaged in fraud. BOA was America’s greatest bank before they stood up to the Socialists and tried to get out of that countrywide acquisition.
3M sales were down and forecast it will hit profits next time.
Xerox net income was down 12%.
Xerox is indicating very weak sales.
Presidential candidate Mitt Romney began this final full month of the 2012 campaign with $178 million to spend Bloomberg compared with $111 million for befuddled Obama.
The White House still hasn’t even agreed to direct talks with Iran’s government on its maniacal nuclear program, even as Iran remains open to such negotiations, National Security Council spokesman Tommy Vietor said.
Apple plans to announce the little iPad that is what they said their big iPad was supposed to make obsolete.
The Rasmussen Reports Thurdsay Presidential Tracking poll shows; Mitt Romney earns 50% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins. http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
Meyer Burger Technology, Europe’s biggest provider of equipment to the solar industry, fell 6 percent to the lowest intraday value in 2 1/2 years low as analysts see that demand is the product of corrupt socialist environmental science. Gradually the West is waking up to the fact that the bad science of the USSR is the model for "socialist global warming science." There is a failure of Western schools to teach "critical thinking" as socialist teachers unions run western schools. Intelligent Scientists says there has been a global warming and cooling cycle for a million years before there were humans and the amount of CO2 liberated by burning fossil fuels is insignificant compared to how much was in the atmosphere when it was laid down in the earth.
Unemployment in Spain sets a new record exceeding 25% While Italian business confidence fell this month fueled pessimism among manufacturers (manufacturing-sentiment index) declined this month from a 88.3 in September to 87.6.
Seasonal oil retail prices are now sliding rapidly as the northern hemisphere finishes filling their heating fuel tanks and vacations in the northern hemisphere decline rapidly.
South Africa’s debt-service costs and falling tax receipts from the poor who once had jobs, are threatening to undermine spending on police, housing and schools adding to deepening strains on the socialist welfare state. They have been following Obama’s ideas for four years.
Japan had a record trade deficit for the April to September period, as sovereign debt troubles in Europe and rising tensions with China caused Japanese exports to decline.
The Hong Kong Monetary Authority continues to manipulate their currency downward to control the exchange rate which has climbed to HK$7.75 an upper limit for manipulation.
Ford Motor Co. will shut three European plants and will cut about 5,700 jobs to stem losses that the company predicts will exceed $1 billion in 2012.
Britain exited their double-dip recession in the third quarter as Olympic ticket sales and a surge in services provided the strongest growth in five years.
Russia’s largest retirement funds are being scuttled by the corrupt Putin government. Putin wants to steal their $70 billion in pensions saved by frugal Russians to pay current expenses of the socialist demagogues.
China’s output decline is now decelerating and appears to be bottoming as the Obama depression looks to be voted out of office in two weeks.
World oil is at a three month low.
The Ifo institute in Munich said the computer business climate index dropped to 100.0 from 101.4 in September That’s the sixth straight decline and the lowest reading since February 2010.
Euro-area services and manufacturing contracted more than economists forecast in October and German business confidence dropped to the lowest in more than 2 1/2 years as Europe’s recession deepened. Themposite index of purchasing managers in services and manufacturing fell to 45.8, the lowest in more than four years, from 46.1 in September. Economists had forecast an improvement to 46.5, according to Bloomberg. In Germany, the Ifo institute’s business climate index dropped to 100.0 from 101.4 in September.
EU Quantitative Easing has another court challenge from Ireland on Tuesday.
Spanish junk debt was downgraded by Moody again.
The 17 nation EU debt climbed to 87.3 percent of gross domestic product in 2011 from 85.4 percent the previous year, the EU’s statistics office in Luxembourg said Monday. That’s a new record high since the euro was introduced in 1999. Greece topped the list with debt at 170.6 percent of GDP, followed by Italy and Portugal at 120.7 percent and 108.1 percent. The EU’s debt-to-GDP limit is supposed to be 60 percent.
Canada has rejected the takeover of its gas energy resources by an Asian company and that worries China.
Europe has a plan to do something for Spain… tomorrow or next year, whichever comes last.
Oil traded near the lowest close in two weeks on speculation that global demand may weaken. But speculators had been using empty barges to hide the oil and drive prices higher. That is why the swings in prices are so great.
China’s stocks fell, sending the benchmark index to the greatest loss in weeks, on concern corporate earnings are worsening and local governments will take further steps to cool the property market.
Japanese exporters dropped as shipments slid 10.3 percent in September from a year earlier, leaving a trade deficit of $7 billion.
Credit Suisse, UBS expects to cut 7,000 jobs.
China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom. We are selective buyers. The rising tide of a Romney presidency will carry the world markets higher too if he wins.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
Bank of America is fairly optimistic, with a 1,450 price target on the Standard & Poor's 500 (^GSPC) through year's end and a 1,600 target for 2013.
There is a fiscal cliff ahead and if Romney wins will Obama spitefully push America over the cliff as his last presidential act? The cliff comes January 1 and Mitt Romney would not be president then and Obama would still have his Lame Duck democrat Senate.
MBA Mortgage Index 10/20 -12.0% down further from -4.2%. This includes both existing and new housing and it is down.
New Home Sales Sep 389K up from 373K. This says new housing sales are up 4.2% over the previous month and the previous statistic said the total was down another 12%. That means existing home sales fell 16.2%. That means the Obama/Bernanke housing policy continues at a high level of incompetence.
FHFA Housing Price Index Aug 0.7% increased from 0.2%
Crude Inventories 10/20 5.896M increased from 2.860M as speculators dump on the market the oil they hid in tankers.
FOMC Rate Decision Oct 0.25% no change from 0.25%
Today
Initial Claims 10/20 369K down from 388K
Continuing Claims 10/13 3254K up from 3252K
Durable Orders Sep 9.9% a good increase from -13.2%
Durable Orders -ex Transportation Sep 2.0% also a good improvement from -1.6%
Pending Home Sales Sep 0.3% up significantly from -2.6%
This Week
Oct 26 8:30 AM GDP-Adv. Q3
Oct 26 8:30 AM Chain Deflator-Adv. Q3
Oct 26 9:55 AM Michigan Sentiment - Final Oct
Market outlook Oct 26, 2012
This election is extremely important for America if we are going to remain in a free and prosperous world. Socialism is a chronic and terminal disease and Obama is a hard-boiled socialist who is insane enough to run guns and kill 30,000 innocent Mexicans to try to make guns illegal in America.
Many stocks continue near their lows and are good investments. But unless Mitt Romney wins, the world will have a worsening four years. Mitt Romney continues to advance in the Rasmussen polls. If Obama wins re-election, America and the world will be in deep trouble because he is a Greek style socialist that is usually ignorant, quarrelsome, and lazy.
The fiscal cliff is still an unpleasant uncertainty unless Romney wins Congress as well as the presidency.
The DJRails must still confirm the DJIndustrials for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. But evidence is that the two are now converging and it is a matter of there being another rally.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is flat lined. It appears to be manipulated. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index dropped again but is in an upward trend. China probably hit bottom and has begun to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down sharply last night with China down -1.7%, Hong Kong down -1.2%, India down -0.7%, S. Japan up 1.4%.
European markets are down half way through their day an average of about 0% to 0.9%
American market futures are down about -0.4 % again in after-hour trading at 9:00 AM EST. This indicator does not correlate with anything.
Friday, October 19, 2012
For American Free Enterprise to survive Obama must be fired on Election Day and Obama is helping that cause. Obama duplicity has lost him the women’s vote, the Jewish vote, and now the Hispanic vote. The little 14 year old girl that was shot in the head and neck because she wanted a school for girls in Pakistan had to be taken to a hospital in Britain because it would have been too embarrassing for Obama to help her in America during his campaign so he did not offer. Obama thinks giving women free condoms is the same as championing women’s rights. But meanwhile in Pakistan, Sharia law still allows old men to take brides of 9 years of age ... and Obama thinks that type of freedom of religion trumps both women’s and children’s rights together.
http://www.usatoday.com/story/news/politics/2012/10/15/swing-states-poll-women-voters-romney-obama/1634791/
http://www.cbn.com/cbnnews/us/2012/May/Activists-Warn-US-Women-of-Sharia-Law-Threat/
http://video.foxbusiness.com/v/1910824386001/women-voters-abandoning-obama
Then Obama lost the Jewish vote too putting Israel at risk of nuclear holocaust and by blaming an American Jew for the death of four of our Libyan embassy staff including our American ambassador and also the Al Qaeda 911 riots. That U-tube clip dared to show Mohamed bargain for his 9-year-old bride. So that American Jew is now in prison for showing how Moslem Sharia law is truly a crime against humanity and allows brutal subjugation and disfigurements of some women and children Sharia followers, and death to none believers.
http://www.commentarymagazine.com/2012/09/10/poll-shows-obama-getting-lowest-jewish-support-since-jimmy-carter-vote/
http://www.businessinsider.com/obama-jon-stewart-libya-deaths-not-optimal-2012-10
And below we see how Romney is winning over the majority of the Hispanic vote from the Univision and Facebook's "Meet the Candidates" forum that was moderated by Maria Elena Salinas and Jorge Ramos and is being rebroadcast over and over again to the Hispanic audiences.
“When the Republican took his place in the first of two back-to-back candidate forums televised on the Telemundo mega-network, he was greeted by an adoring, raucous crowd that cheered his every word, and booed many of the biased moderators' questions. The next night, President Obama was treated to stone cold silence from the apathetic audience of democrat college students as he was aggressively grilled on his lackluster immigration record. The contrast was widely noted by observers who watched both forums.”
“These forums are going to be watched by more Hispanics than watched the conventions," said Alberto Martinez, a Florida-based Romney adviser. "I think [Romney] did an amazing job, and I think it was pretty clear there wasn't the same excitement for President Obama."
"We were a little bit thrown because Romney’s was supposed to be a TV show, and was a rally," Salinas said of the outspoken Romney supporters. It was a little bit of disrespectful for us Obama supporters,” but Salinas said, “by then, the crowd was cheering so loudly that they drowned out the anchors' words.” “The Obama campaign was quick to point out that Romney spent less time on Univision than the president did. The Romney campaign, meanwhile, dismissed Democrats' crying as an attempt to divert attention from Obama's terrible performance, during which he admitted to dropping the ball on immigration reform, and said he'd learned in office that "you can't change Washington from the inside."
One Romney aide said, their enthusiastic crowd was proof that their strong Hispanic outreach program in the state is working. And the Romney camp fought harder at the critical Hispanic forum, and it appeared to pay off. Since the conventions, local Romney aides have been boasting that their Hispanic-focused ground game in the state is bigger than any presidential campaign in history, with 13 full-time paid staffers and hundreds of volunteers. What's more, one person familiar with both campaigns' media buys said Romney aired Spanish-language ads in key battleground states throughout the country during the Univision forums, while the Obama campaign remained dark as if ashamed of Obama’s performance in Spanish markets. "This is getting into dangerous territory for Obama, because they don't just have to win Hispanics here, they have to win big," the aide said. "Obama just keeps giving reasons to think he is a weak leader." Incompetent and egocentric would be a better description of Obama’s performance and Florida is the “critical” swing state to win.
http://www.huffingtonpost.com/2012/10/15/florida-latino-vote-gap-t_n_1966551.html
Latest Gallup poll of likely voters puts Romney/Ryan at 52% and Obama Biden at 45%. All likely registered voters are asked: "Suppose the presidential election were held today, and it included Barack Obama and Joe Biden as the Democratic Party's candidates and Mitt Romney and Paul Ryan as the Republican Party's candidates. Who would you vote for? Those who were undecided were further asked if they lean more toward Obama and Biden or Romney and Ryan and their leanings are incorporated into the results instead of listing them as undecided.
http://www.gallup.com/poll/157817/election-2012-likely-voters-trial-heat-obama-romney.aspx
If you Google “real war on women” while selecting “images” you will find the real war on women is not Catholics refusing to give free Obama condoms, Obama abortions, and blessing Obama gay marriages. Obama’s Sharia law allies who treat women as chattel wage the real war on women and their influence is growing in the western world.
Romney pointed out in the second debate that as Governor of Massachusetts he balanced the budget, got Massachusetts schools ranked #1 in the nation, developed a comprehensive state medical program with Republicans and Democrats working together and agreeing! He also appointed women to 50% of his high-level state administrator positions. Mitt Romney never had a deficit. But Obama never earned a profit and always ran deficits. Obama was a communist leaning activist who said the US Constitution is a racist document and is not recommended by him to other countries.
Bad business reports are flowing in but the Romney stock market rally continues.
McDonald’s, the world’s largest restaurant chain by sales, reported third-quarter profit fell 3.5 percent as sales growth slowed in the U.S.A.
Honeywell’s third-quarter earnings rose 10% as stronger aerospace sales helped to improve margins and offset the drop in transportation systems sales.
Read more: http://www.foxbusiness.com/news/2012/10/19/honeywell-international-3rd-quarter-net-up-10-on-better-margins/#ixzz29kWsNkoZ
Microsoft retreated reported a 22 percent drop in fiscal first-quarter net income.
Gold fell in New York and headed for a second weekly decline as it closes some of the gaps on its first meteoric rise this year.
Google and GE are the latest bad reports. GE says it may only grow 3% next year. Under Bush they grew 10% to 20% each year.
Morgan Stanley lost a fortune but if you are a fool and ignore the losses they made a big profit from continuing operations in their trading group. That is the degree of spin they are using to pump up share prices.
Traveler’s third quarter profit nearly tripled as they appraise property at up to 200% of market value. This could cause huge arson losses, as there tends to be many more fires when properties are over-insured. It is a high incentive for criminals who are running rampant under the Obama administration. Gun running, identity theft, false tax refund claims are already at record highs under Obama. Now arson is a risk as Detroit and other cities abandoned property is already in flames. Obama is a criminal’s best friend.
Verizon Communications Inc. the second-largest U.S. phone company surged 16% in year-to-0year third quarter profit.
Southwest Airlines Co. said third-quarter profit fell by 12%.
Philip Morris quarterly profit fell 6.3%.
Gold and silver declined as a Romney win will remove Obama’s Fiscal Cliff.
Apple lost its appeal against Samsung. If Apple cannot compete it uses its cash pile to litigate its competition to death. Apple is being a bully and consumers will suffer as a result and turn away from apple.
Knight Capital Group, the high speed trading platform reported a quarterly net loss of $6.30 a share, the worst since at least 2001, and compared with profit of 29 cents a year earlier. It occurred in less than 20 minutes due to faulty trade programming logic.
BOA and Melon profits rise as stock prices rise increasing reserves to loan out.
Schwab now gives Apple a “D” investment rating. See their stock rating.
PepsiCo the world’s largest snack-food maker, reported third-quarter profit fell 5 percent from a year earlier but exceeded analyst estimates. That is what market manipulators like to do. They are low-balling their estimates to make even the losses look good. This is a Jim Crammer MSNBC Pravda recommendation and Obama claims his brainy government is why the stock market is high. But it is more likely the optimism in America that Obama will get thrown out of office by the American people. Manipulation is lying and that is what socialists do best.
Obama is making sure details of the attack that killed the U.S. ambassador and three other Americans in Libya last month will never be fully known. There is ample evidence the Obama administration’s initial accounts were intentional misinformation that ineptly inflamed the Moslem world by telling them of the American movie trailer on Mohammed and his nine-year-old bride. Obama tried to hide the fact that he has not stopped terrorism and then announced the movie and caused the rioting against America to spread like fire. Obama is an expert in making our friends and enemies hate America more and more. He started by insulting the British by returning the bust of Churchill and discarding the presidential desk the British gave the White House years ago.
Consumer prices increased 0.6% last month as commodity prices soared and the cost of gasoline jumped 7%.
Third-quarter earnings season goes into high gear this week with earnings reports from many financial and other bellwethers.
Goldman reported earnings of $2.85 per share, as revenue more than doubled. Johnson & Johnson and Coca-Cola profit beat forecasts.
Economic reports are also due out for many sectors.
WSJ predicts metals and oil prices are peaking.
The Rasmussen Reports Wednesday Presidential Tracking poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 48% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
European Union leaders agreed beginning next year a single supervisor will take responsibility for overseeing euro zone banks. Then when the EU has a bank supervisor and wants a direct recapitalisation, then they will have a resolution fund for banks that has contributions from state banks.
The Spanish banks have a capital need that has been specified and a program for recapitalisation that has been agreed upon. When the recapitalisation is possible then it will be possible for the future afterwards and not retroactive.
Emerging-market stocks fell, paring their best rally in more than a month, as earnings at computer companies and foreign investment in China fell more than economist’s forecast.
Gold imports by India, the world’s largest buyer, will climb for the first time in six quarters as a decline in domestic bullion prices stokes jewelry and investment demand ahead of major festivals.
Spain’s worst-case scenario turns real as banks face more loan losses and the pace of an economic slump is turning a worst-case scenario into reality. Bad loans as a proportion of total lending jumped to a record 10.5 percent in August.
Alcatel-Lucent, the French phone equipment company is trading near a 23-year low and will cut its French workforce 15 percent as part of a global cut of 5,500 jobs.
EU leaders to meet.
U.K. jobless claims unexpectedly fell as the London Olympics helped boost hiring and payrolls.
Starbucks may face an inquiry into its British tax affairs over how it avoided paying taxes on $1.93 billion in sales since 2009.
The EU continues to tread water and fiddle as Greek debt interest rates soar to new highs this year.
Bank of Israel Governor Stanley Fischer said the world is “awfully close” to a recession, adding to concern raised by major disagreements at the annual meetings of the International Monetary Fund last week.
Indian inflation accelerated to a 10-month high of 7.81 percent in September after climbing 7.55 percent in August,
Police in the West African country of Ghana killed one Chinese citizen in a raid and detained more than 100 other Chinese on suspicion of illegal gold mining. Ghana has faced an influx of illegal small-scale miners from China as global gold prices climb. About 30 percent of Ghana’s total output is produced by an estimated 1 million miners who use picks and shovels.
Asking prices for homes in London surged to a record this month.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive. http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom. We are selective buyers. The rising tide of a Romney presidency will carry the world markets higher too if he wins.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
We seem to have a Romney stock market surge. But there is a fiscal cliff ahead and if Romney wins will Obama push America over the cliff as his last presidential act? The cliff comes January 1 and Mitt Romney would not be president then and Obama would still have his Lame Duck democrat Senate.
This Week
Retail Sales Sep 1.1% improved more from 0.9%
Retail Sales ex-auto Sep 1.1% improved even more from 0.8% last month which is another way of saying Obama was not telling the truth when he said American car sales were up. It was foreign car sales in America that went up. Ford sales dropped significantly and they are not government subsidized so their numbers are real.
Empire Manufacturing Oct -6.2 showing manufacturing remains in decline and was down -10.4 last month. Obama has been saying he helped manufacturing but the manufacturers beg to differ with Obama.
Business Inventories Aug up 0.6% still increasing faster than inflation and a sign that a slow down is on the way.
CPI Sep up 0.6% again a 7.8% inflation rate.
Core CPI Sep again 0.1% the number Obama uses to decide how much Social Security should be increased.
Net long-term TIC Flows Aug $90.0B into the USA, was $67.0B
Industrial Production Sep 0.4% enormous improvement from -1.2%
Capacity Utilization Sep 78.3% up implies more business 78.2%
NAHB Housing Market Index Oct 41 slight improvement from 40
MBA Mortgage Index 10/13 -4.2% vs -1.2% means fewer people are getting mortgages.
Housing Starts Sep 872K up from 750K but we already have many vacant houses.
Building Permits Sep 894K up from 803K but we already have many vacant houses.
Crude Inventories 10/13 2.860M increased from 1.672M
Yesterday
Initial Claims 10/13 388K up sharply from 339K
Continuing Claims 10/6 3252K down slightly from 3273K
Philadelphia Fed Oct 5.7 improved from -1.9 last month
Leading Indicators Sep 0.6% up from -0.1% last month due to the stock market rally
Today
Oct 19 10:00 AM Existing Home Sales Sep
Market outlook Oct 19, 2012
Europe has a plan to do something… next year.
Women, Jewish, and Hispanic voters have joined men and will vote in large numbers for Mitt Romney who can balance the budget and fire the community activist that never produced a nickel profit. Obama said the death of four Americans on 911 this year was non-optimal but it was not his fault. It was the fault of his non-optimal Sec of State Hilary Clinton. The non-optimal president Obama administration has America on the road to a non-optimal Greek economy and non-optimal Sharia law replacing the American Constitution. Obama has been a non-optimal president. But it is possible the rally will end the moment Mitt Romney is elected because we will have a non-optimal democrat lame duck Senate and president as we go over Obama’s non-optimal fiscal cliff.
We are possibly in a Mitt Romney stock market rally as investors have new hope that the incompetent Obama Administration is on its way out the door. It is risky though because Obama made sure many people voted early.
The fiscal cliff is still an uncertainty unless Romney wins Congress as well as the presidency.
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is flat lined. It appears to be manipulated. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down last night with China down -0.2%, Hong Kong up 0.1%, India down –0.6%, Japan up 0.2%.
European markets are down half way through their day in a range of -0.2% to –1.6%.
American market futures are down about -0.2 % in after-hour trading at 9:00 AM EST. This indicator does not correlate with anything.
http://www.cbn.com/cbnnews/us/2012/May/Activists-Warn-US-Women-of-Sharia-Law-Threat/
http://video.foxbusiness.com/v/1910824386001/women-voters-abandoning-obama
Then Obama lost the Jewish vote too putting Israel at risk of nuclear holocaust and by blaming an American Jew for the death of four of our Libyan embassy staff including our American ambassador and also the Al Qaeda 911 riots. That U-tube clip dared to show Mohamed bargain for his 9-year-old bride. So that American Jew is now in prison for showing how Moslem Sharia law is truly a crime against humanity and allows brutal subjugation and disfigurements of some women and children Sharia followers, and death to none believers.
http://www.commentarymagazine.com/2012/09/10/poll-shows-obama-getting-lowest-jewish-support-since-jimmy-carter-vote/
http://www.businessinsider.com/obama-jon-stewart-libya-deaths-not-optimal-2012-10
And below we see how Romney is winning over the majority of the Hispanic vote from the Univision and Facebook's "Meet the Candidates" forum that was moderated by Maria Elena Salinas and Jorge Ramos and is being rebroadcast over and over again to the Hispanic audiences.
“When the Republican took his place in the first of two back-to-back candidate forums televised on the Telemundo mega-network, he was greeted by an adoring, raucous crowd that cheered his every word, and booed many of the biased moderators' questions. The next night, President Obama was treated to stone cold silence from the apathetic audience of democrat college students as he was aggressively grilled on his lackluster immigration record. The contrast was widely noted by observers who watched both forums.”
“These forums are going to be watched by more Hispanics than watched the conventions," said Alberto Martinez, a Florida-based Romney adviser. "I think [Romney] did an amazing job, and I think it was pretty clear there wasn't the same excitement for President Obama."
"We were a little bit thrown because Romney’s was supposed to be a TV show, and was a rally," Salinas said of the outspoken Romney supporters. It was a little bit of disrespectful for us Obama supporters,” but Salinas said, “by then, the crowd was cheering so loudly that they drowned out the anchors' words.” “The Obama campaign was quick to point out that Romney spent less time on Univision than the president did. The Romney campaign, meanwhile, dismissed Democrats' crying as an attempt to divert attention from Obama's terrible performance, during which he admitted to dropping the ball on immigration reform, and said he'd learned in office that "you can't change Washington from the inside."
One Romney aide said, their enthusiastic crowd was proof that their strong Hispanic outreach program in the state is working. And the Romney camp fought harder at the critical Hispanic forum, and it appeared to pay off. Since the conventions, local Romney aides have been boasting that their Hispanic-focused ground game in the state is bigger than any presidential campaign in history, with 13 full-time paid staffers and hundreds of volunteers. What's more, one person familiar with both campaigns' media buys said Romney aired Spanish-language ads in key battleground states throughout the country during the Univision forums, while the Obama campaign remained dark as if ashamed of Obama’s performance in Spanish markets. "This is getting into dangerous territory for Obama, because they don't just have to win Hispanics here, they have to win big," the aide said. "Obama just keeps giving reasons to think he is a weak leader." Incompetent and egocentric would be a better description of Obama’s performance and Florida is the “critical” swing state to win.
http://www.huffingtonpost.com/2012/10/15/florida-latino-vote-gap-t_n_1966551.html
Latest Gallup poll of likely voters puts Romney/Ryan at 52% and Obama Biden at 45%. All likely registered voters are asked: "Suppose the presidential election were held today, and it included Barack Obama and Joe Biden as the Democratic Party's candidates and Mitt Romney and Paul Ryan as the Republican Party's candidates. Who would you vote for? Those who were undecided were further asked if they lean more toward Obama and Biden or Romney and Ryan and their leanings are incorporated into the results instead of listing them as undecided.
http://www.gallup.com/poll/157817/election-2012-likely-voters-trial-heat-obama-romney.aspx
If you Google “real war on women” while selecting “images” you will find the real war on women is not Catholics refusing to give free Obama condoms, Obama abortions, and blessing Obama gay marriages. Obama’s Sharia law allies who treat women as chattel wage the real war on women and their influence is growing in the western world.
Romney pointed out in the second debate that as Governor of Massachusetts he balanced the budget, got Massachusetts schools ranked #1 in the nation, developed a comprehensive state medical program with Republicans and Democrats working together and agreeing! He also appointed women to 50% of his high-level state administrator positions. Mitt Romney never had a deficit. But Obama never earned a profit and always ran deficits. Obama was a communist leaning activist who said the US Constitution is a racist document and is not recommended by him to other countries.
Bad business reports are flowing in but the Romney stock market rally continues.
McDonald’s, the world’s largest restaurant chain by sales, reported third-quarter profit fell 3.5 percent as sales growth slowed in the U.S.A.
Honeywell’s third-quarter earnings rose 10% as stronger aerospace sales helped to improve margins and offset the drop in transportation systems sales.
Read more: http://www.foxbusiness.com/news/2012/10/19/honeywell-international-3rd-quarter-net-up-10-on-better-margins/#ixzz29kWsNkoZ
Microsoft retreated reported a 22 percent drop in fiscal first-quarter net income.
Gold fell in New York and headed for a second weekly decline as it closes some of the gaps on its first meteoric rise this year.
Google and GE are the latest bad reports. GE says it may only grow 3% next year. Under Bush they grew 10% to 20% each year.
Morgan Stanley lost a fortune but if you are a fool and ignore the losses they made a big profit from continuing operations in their trading group. That is the degree of spin they are using to pump up share prices.
Traveler’s third quarter profit nearly tripled as they appraise property at up to 200% of market value. This could cause huge arson losses, as there tends to be many more fires when properties are over-insured. It is a high incentive for criminals who are running rampant under the Obama administration. Gun running, identity theft, false tax refund claims are already at record highs under Obama. Now arson is a risk as Detroit and other cities abandoned property is already in flames. Obama is a criminal’s best friend.
Verizon Communications Inc. the second-largest U.S. phone company surged 16% in year-to-0year third quarter profit.
Southwest Airlines Co. said third-quarter profit fell by 12%.
Philip Morris quarterly profit fell 6.3%.
Gold and silver declined as a Romney win will remove Obama’s Fiscal Cliff.
Apple lost its appeal against Samsung. If Apple cannot compete it uses its cash pile to litigate its competition to death. Apple is being a bully and consumers will suffer as a result and turn away from apple.
Knight Capital Group, the high speed trading platform reported a quarterly net loss of $6.30 a share, the worst since at least 2001, and compared with profit of 29 cents a year earlier. It occurred in less than 20 minutes due to faulty trade programming logic.
BOA and Melon profits rise as stock prices rise increasing reserves to loan out.
Schwab now gives Apple a “D” investment rating. See their stock rating.
PepsiCo the world’s largest snack-food maker, reported third-quarter profit fell 5 percent from a year earlier but exceeded analyst estimates. That is what market manipulators like to do. They are low-balling their estimates to make even the losses look good. This is a Jim Crammer MSNBC Pravda recommendation and Obama claims his brainy government is why the stock market is high. But it is more likely the optimism in America that Obama will get thrown out of office by the American people. Manipulation is lying and that is what socialists do best.
Obama is making sure details of the attack that killed the U.S. ambassador and three other Americans in Libya last month will never be fully known. There is ample evidence the Obama administration’s initial accounts were intentional misinformation that ineptly inflamed the Moslem world by telling them of the American movie trailer on Mohammed and his nine-year-old bride. Obama tried to hide the fact that he has not stopped terrorism and then announced the movie and caused the rioting against America to spread like fire. Obama is an expert in making our friends and enemies hate America more and more. He started by insulting the British by returning the bust of Churchill and discarding the presidential desk the British gave the White House years ago.
Consumer prices increased 0.6% last month as commodity prices soared and the cost of gasoline jumped 7%.
Third-quarter earnings season goes into high gear this week with earnings reports from many financial and other bellwethers.
Goldman reported earnings of $2.85 per share, as revenue more than doubled. Johnson & Johnson and Coca-Cola profit beat forecasts.
Economic reports are also due out for many sectors.
WSJ predicts metals and oil prices are peaking.
The Rasmussen Reports Wednesday Presidential Tracking poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 48% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
European Union leaders agreed beginning next year a single supervisor will take responsibility for overseeing euro zone banks. Then when the EU has a bank supervisor and wants a direct recapitalisation, then they will have a resolution fund for banks that has contributions from state banks.
The Spanish banks have a capital need that has been specified and a program for recapitalisation that has been agreed upon. When the recapitalisation is possible then it will be possible for the future afterwards and not retroactive.
Emerging-market stocks fell, paring their best rally in more than a month, as earnings at computer companies and foreign investment in China fell more than economist’s forecast.
Gold imports by India, the world’s largest buyer, will climb for the first time in six quarters as a decline in domestic bullion prices stokes jewelry and investment demand ahead of major festivals.
Spain’s worst-case scenario turns real as banks face more loan losses and the pace of an economic slump is turning a worst-case scenario into reality. Bad loans as a proportion of total lending jumped to a record 10.5 percent in August.
Alcatel-Lucent, the French phone equipment company is trading near a 23-year low and will cut its French workforce 15 percent as part of a global cut of 5,500 jobs.
EU leaders to meet.
U.K. jobless claims unexpectedly fell as the London Olympics helped boost hiring and payrolls.
Starbucks may face an inquiry into its British tax affairs over how it avoided paying taxes on $1.93 billion in sales since 2009.
The EU continues to tread water and fiddle as Greek debt interest rates soar to new highs this year.
Bank of Israel Governor Stanley Fischer said the world is “awfully close” to a recession, adding to concern raised by major disagreements at the annual meetings of the International Monetary Fund last week.
Indian inflation accelerated to a 10-month high of 7.81 percent in September after climbing 7.55 percent in August,
Police in the West African country of Ghana killed one Chinese citizen in a raid and detained more than 100 other Chinese on suspicion of illegal gold mining. Ghana has faced an influx of illegal small-scale miners from China as global gold prices climb. About 30 percent of Ghana’s total output is produced by an estimated 1 million miners who use picks and shovels.
Asking prices for homes in London surged to a record this month.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive. http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom. We are selective buyers. The rising tide of a Romney presidency will carry the world markets higher too if he wins.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
We seem to have a Romney stock market surge. But there is a fiscal cliff ahead and if Romney wins will Obama push America over the cliff as his last presidential act? The cliff comes January 1 and Mitt Romney would not be president then and Obama would still have his Lame Duck democrat Senate.
This Week
Retail Sales Sep 1.1% improved more from 0.9%
Retail Sales ex-auto Sep 1.1% improved even more from 0.8% last month which is another way of saying Obama was not telling the truth when he said American car sales were up. It was foreign car sales in America that went up. Ford sales dropped significantly and they are not government subsidized so their numbers are real.
Empire Manufacturing Oct -6.2 showing manufacturing remains in decline and was down -10.4 last month. Obama has been saying he helped manufacturing but the manufacturers beg to differ with Obama.
Business Inventories Aug up 0.6% still increasing faster than inflation and a sign that a slow down is on the way.
CPI Sep up 0.6% again a 7.8% inflation rate.
Core CPI Sep again 0.1% the number Obama uses to decide how much Social Security should be increased.
Net long-term TIC Flows Aug $90.0B into the USA, was $67.0B
Industrial Production Sep 0.4% enormous improvement from -1.2%
Capacity Utilization Sep 78.3% up implies more business 78.2%
NAHB Housing Market Index Oct 41 slight improvement from 40
MBA Mortgage Index 10/13 -4.2% vs -1.2% means fewer people are getting mortgages.
Housing Starts Sep 872K up from 750K but we already have many vacant houses.
Building Permits Sep 894K up from 803K but we already have many vacant houses.
Crude Inventories 10/13 2.860M increased from 1.672M
Yesterday
Initial Claims 10/13 388K up sharply from 339K
Continuing Claims 10/6 3252K down slightly from 3273K
Philadelphia Fed Oct 5.7 improved from -1.9 last month
Leading Indicators Sep 0.6% up from -0.1% last month due to the stock market rally
Today
Oct 19 10:00 AM Existing Home Sales Sep
Market outlook Oct 19, 2012
Europe has a plan to do something… next year.
Women, Jewish, and Hispanic voters have joined men and will vote in large numbers for Mitt Romney who can balance the budget and fire the community activist that never produced a nickel profit. Obama said the death of four Americans on 911 this year was non-optimal but it was not his fault. It was the fault of his non-optimal Sec of State Hilary Clinton. The non-optimal president Obama administration has America on the road to a non-optimal Greek economy and non-optimal Sharia law replacing the American Constitution. Obama has been a non-optimal president. But it is possible the rally will end the moment Mitt Romney is elected because we will have a non-optimal democrat lame duck Senate and president as we go over Obama’s non-optimal fiscal cliff.
We are possibly in a Mitt Romney stock market rally as investors have new hope that the incompetent Obama Administration is on its way out the door. It is risky though because Obama made sure many people voted early.
The fiscal cliff is still an uncertainty unless Romney wins Congress as well as the presidency.
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is flat lined. It appears to be manipulated. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down last night with China down -0.2%, Hong Kong up 0.1%, India down –0.6%, Japan up 0.2%.
European markets are down half way through their day in a range of -0.2% to –1.6%.
American market futures are down about -0.2 % in after-hour trading at 9:00 AM EST. This indicator does not correlate with anything.
Monday, October 15, 2012
Obama trivializes the real war on women. He says it is part of the religious freedom of Pakistan, Iran, and Syria and we should respect their religion. The abusers of women in Pakistan, and Iran, and Syria are criticized but are never punished. But Obama would shut down Catholic hospitals in the USA that do not dispense contraceptives. Is that a warped concept of women's rights and religious freedom or what? It certainly is not the American concept. Here is a Google search on images for “the real war on women.”
http://www.google.com/search?hl=en&sugexp=les%3Bcesh&cp=21&gs_id=6&xhr=t&q=the+real+war+on+women&bav=on.2,or.r_gc.r_pw.r_qf.&bpcl=35277026&biw=815&bih=829&wrapid=tljp135029998323400&um=1&ie=UTF-8&tbm=isch&source=og&sa=N&tab=wi&ei=XfF7UNLvJYP40gHW9oCoBA#q=the+real+war+on+women&um=1&hl=en&sa=N&tbm=isch&bav=on.2,or.r_gc.r_pw.r_qf.&fp=827d32baae73ec64&bpcl=35277026&biw=1680&bih=853
The “gay men” in Iraq and other Mid East countries are called “puppies,” and are rounded up and shot but Obama says it is part of their religious freedom. Yet Obama is using his executive decree to shut down Catholic hospitals in the USA that help the poor… because they do not perform abortions. Is that Obama policy alienating to Religious Hispanics and other people who believe in religious freedom or not? Obama has a warped concept of religious freedom and it certainly is not the American concept.
Obama’s alien belief system and Moslem economic and social policies are destroying America just as it destroys the socialist states that educated Obama before he came to America.
Third-quarter earnings season goes into high gear this week with earnings reports from many financial and other bellwethers.
Economic reports are also due out for many sectors this week.
WSJ predicts metals and oil prices are peaking.
Speculators reduced net-long positions across 18 U.S. futures and options contracts last week, the lowest since Aug. 14, U. They are betting on a decline in commodities now.
The Rasmussen Reports Sunday Presidential Tracking pre-debate poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
Bank of Israel Governor Stanley Fischer said the world is “awfully close” to a recession, adding to concern raised by major disagreements at the annual meetings of the International Monetary Fund last week.
Indian inflation accelerated to a 10-month high of 7.81 percent in September after climbing 7.55 percent in August,
Police in the West African country of Ghana killed one Chinese citizen in a raid and detained more than 100 other Chinese on suspicion of illegal gold mining. Ghana has faced an influx of illegal small-scale miners from China as global gold prices climb. About 30 percent of Ghana’s total output is produced by an estimated 1 million miners who use picks and shovels.
Asking prices for homes in London surged to a record this month.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
This Week
MBA Mortgage Index 10/06 -1.2% down tremendously from 16.6% Fewer people buying houses
Wholesale Inventories Aug 0.5% still increasing, was 0.6% Increasing is not good.
Job openings in the US dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth.
Initial unemployment claims 10/06 339K down from 367K very good
Continuing Claims 09/29 3273K improved from 3281K
AM Trade Balance Aug -$44.2B worsened from -$42.0B
Export Prices ex-ag. Sep 0.7% inflation from 0.4%
Import Prices ex-oil Sep 0.2% inflationary from -0.2%
AM Crude Inventories 10/06 1.672M increased -0.482M good
Friday
PPI Sep 1.1% still high due to energy costs but down from 1.7% last month
Core PPI Sep 0.0% flat from 0.2% showing no inflation in producer prices
Mich Sentiment Oct 83.1 great improvement from 78.3 due to Mitt Romney effect
This Week
Oct 15 8:30 AM Retail Sales Sep
Oct 15 8:30 AM Retail Sales ex-auto Sep
Oct 15 8:30 AM Empire Manufacturing Oct
Oct 15 10:00 AM Business Inventories Aug
Oct 16 8:30 AM CPI Sep
Oct 16 8:30 AM Core CPI Sep
Oct 16 9:00 AM Net Long-Term TIC Flows Aug
Oct 16 9:15 AM Industrial Production Sep
Oct 16 9:15 AM Capacity Utilization Sep
Oct 16 10:00 AM NAHB Housing Market Index Oct
Oct 17 7:00 AM MBA Mortgage Index 10/13
Oct 17 8:30 AM Housing Starts Sep
Oct 17 8:30 AM Building Permits Sep
Oct 17 10:30 AM Crude Inventories 10/13
Oct 18 8:30 AM Initial Claims 10/13
Oct 18 8:30 AM Continuing Claims 10/6
Oct 18 10:00 AM Philadelphia Fed Oct
Oct 18 10:00 AM Leading Indicators Sep
Oct 19 10:00 AM Existing Home Sales Sep
Market outlook Oct 15, 2012
Helms said America is the healthiest horse…in the glue factory. The US Government eats up 42% of the US GDP. Mitt Romney says it should be 25%. Reagan got it down to 22% and that was with much more military spnding. So Romney's goal is realistic and the deficit reduction will be enormous.
The fiscal cliff is still an uncertainty unless Romney wins Congress as well as the presidency.
Both rails and bulk trade are acting up again. The rails diverged from the industrials this month and the bulk trade could be from oil speculators filling up the barges with oil rather than trade goods. There seems to be a lot of uncertainty now.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today.
Http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is rising. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were up slightly last night with China down -0.3%, Hong Kong up 0.1%, India up 0.2%, Japan up 0.5%.
European markets are up half way through their day in a range of +0.4% to +1.4%.
American market futures are up about 0.4 % in after-hour trading at 7:00 AM EST. This indicator does not correlate with anything.
The “gay men” in Iraq and other Mid East countries are called “puppies,” and are rounded up and shot but Obama says it is part of their religious freedom. Yet Obama is using his executive decree to shut down Catholic hospitals in the USA that help the poor… because they do not perform abortions. Is that Obama policy alienating to Religious Hispanics and other people who believe in religious freedom or not? Obama has a warped concept of religious freedom and it certainly is not the American concept.
Obama’s alien belief system and Moslem economic and social policies are destroying America just as it destroys the socialist states that educated Obama before he came to America.
Third-quarter earnings season goes into high gear this week with earnings reports from many financial and other bellwethers.
Economic reports are also due out for many sectors this week.
WSJ predicts metals and oil prices are peaking.
Speculators reduced net-long positions across 18 U.S. futures and options contracts last week, the lowest since Aug. 14, U. They are betting on a decline in commodities now.
The Rasmussen Reports Sunday Presidential Tracking pre-debate poll shows; Mitt Romney earns 49% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World Economies
Bank of Israel Governor Stanley Fischer said the world is “awfully close” to a recession, adding to concern raised by major disagreements at the annual meetings of the International Monetary Fund last week.
Indian inflation accelerated to a 10-month high of 7.81 percent in September after climbing 7.55 percent in August,
Police in the West African country of Ghana killed one Chinese citizen in a raid and detained more than 100 other Chinese on suspicion of illegal gold mining. Ghana has faced an influx of illegal small-scale miners from China as global gold prices climb. About 30 percent of Ghana’s total output is produced by an estimated 1 million miners who use picks and shovels.
Asking prices for homes in London surged to a record this month.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
This Week
MBA Mortgage Index 10/06 -1.2% down tremendously from 16.6% Fewer people buying houses
Wholesale Inventories Aug 0.5% still increasing, was 0.6% Increasing is not good.
Job openings in the US dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth.
Initial unemployment claims 10/06 339K down from 367K very good
Continuing Claims 09/29 3273K improved from 3281K
AM Trade Balance Aug -$44.2B worsened from -$42.0B
Export Prices ex-ag. Sep 0.7% inflation from 0.4%
Import Prices ex-oil Sep 0.2% inflationary from -0.2%
AM Crude Inventories 10/06 1.672M increased -0.482M good
Friday
PPI Sep 1.1% still high due to energy costs but down from 1.7% last month
Core PPI Sep 0.0% flat from 0.2% showing no inflation in producer prices
Mich Sentiment Oct 83.1 great improvement from 78.3 due to Mitt Romney effect
This Week
Oct 15 8:30 AM Retail Sales Sep
Oct 15 8:30 AM Retail Sales ex-auto Sep
Oct 15 8:30 AM Empire Manufacturing Oct
Oct 15 10:00 AM Business Inventories Aug
Oct 16 8:30 AM CPI Sep
Oct 16 8:30 AM Core CPI Sep
Oct 16 9:00 AM Net Long-Term TIC Flows Aug
Oct 16 9:15 AM Industrial Production Sep
Oct 16 9:15 AM Capacity Utilization Sep
Oct 16 10:00 AM NAHB Housing Market Index Oct
Oct 17 7:00 AM MBA Mortgage Index 10/13
Oct 17 8:30 AM Housing Starts Sep
Oct 17 8:30 AM Building Permits Sep
Oct 17 10:30 AM Crude Inventories 10/13
Oct 18 8:30 AM Initial Claims 10/13
Oct 18 8:30 AM Continuing Claims 10/6
Oct 18 10:00 AM Philadelphia Fed Oct
Oct 18 10:00 AM Leading Indicators Sep
Oct 19 10:00 AM Existing Home Sales Sep
Market outlook Oct 15, 2012
Helms said America is the healthiest horse…in the glue factory. The US Government eats up 42% of the US GDP. Mitt Romney says it should be 25%. Reagan got it down to 22% and that was with much more military spnding. So Romney's goal is realistic and the deficit reduction will be enormous.
The fiscal cliff is still an uncertainty unless Romney wins Congress as well as the presidency.
Both rails and bulk trade are acting up again. The rails diverged from the industrials this month and the bulk trade could be from oil speculators filling up the barges with oil rather than trade goods. There seems to be a lot of uncertainty now.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today.
Http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out.
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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is rising. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were up slightly last night with China down -0.3%, Hong Kong up 0.1%, India up 0.2%, Japan up 0.5%.
European markets are up half way through their day in a range of +0.4% to +1.4%.
American market futures are up about 0.4 % in after-hour trading at 7:00 AM EST. This indicator does not correlate with anything.
Thursday, October 11, 2012
CBS is becoming more objective and coming around to see Mitt Romney as an alternative to Obama’s gross incompetence in domestic and foreign policy. Today the WSJ criticized Obama for cutting security staff in Libya just as the Ambassador saw the growing threat and was asking for more. Gayle King (Oprah's friend) personally met and knows Mitt and is saying kind things. This clip is one of the most truthful pieces of information I have seen CBS come out with on Mitt Romney. And, it is on the formerly left leaning CBS station.
http://www.cbsnews.com/video/watch/?id=7405692n&tag=api
Obama as commander in chief has been a fool and a traitor to the American principles of our founding fathers. The fiscal cliff Obama has built has a $600 billion military cut and then he gave Leon Panetta the job to cut yet another $400+ billion. Panetta did not realize he was doubling the military cuts! But too late, Panetta suddenly woke up and realized what he mistakenly did, and what a fool Obama made of him. So he asked the Congress not make the double cut. But it was too late. Obama will be firing non-military support people as well as military people and has to give the non-military people 60 days notice. But Obama does not want to do that before the election. Obama screwed up because he did not know he has to notify civilians 60 days before they are fired. So Obama may make an illegal executive order to defer notification until after the election and break the laws of Congress just so he does not have to tell the military the truly bad news and lose their votes.
Obama told the world which Seal team took out Osama and they all now have Al Quada bulls eyes painted on their backs because Obama bragging and loose lips has now identified even their families for Al Quada revenge. That led to that seal helicopter that was shot down in Afghanistan. It was carrying the seal team that took out Bin Laden. Any military people who vote for Obama deserve to be fired along with Obama.
The following is what the Founding Fathers gave America and what Obama and his clowns want to destroy. The American Constitution was the first in the world to protect the rights of individuals, minorities, and states by limiting the power of the federal government. It was well understood from earlier democracies that in a democracy of three persons, two persons could create and pass laws to legally expropriate and redistribute the wealth or labor of any third person. Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), "To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it."
Obama also said he wanted to create a domestic security force as strong as the military. The founding fathers specifically were against domestic armies because that is how all the European tyrants held power and killed and imprisoned their political opponents.
Obama is unpatriotic! He says that if the rich were patriotic they would give more now to pay for his voting block’s children, housing and food stamps. With Obama re-runs, everything he could possibly say to get elected he has been said before. So why does Obama waste his campaign money? If Obama were patriotic he would give all his campaign war chest to the poor. Why insult our intelligence. He said Americans would be patriotic if they gave everything away to help a delirious ignorant spend thrift Obama administration. If Obama had a brain wouldn’t he set an example then and give his $189 million raised last month for food stamps. Isn’t that what Saint patriotic Buffet would do? Electing Obama is a huge waste of money. http://thehayride.com:80/2012/09/maybe-the-best-ad-of-the-political-season-so-far/?utm_source=Nooner%2c+9-5-12&utm_campaign=Nooner+1-25-12&utm_medium=email
Jamie Dimon, CEO of the nation's largest bank JPMorgan Chase, lashed out on Wednesday at the Obama Administration on a host of issues -- from the fiscal cliff to a recent Obama-Holder federal lawsuit slapped against his bank. Obama/Holder filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest extortion volley against big banks for complying with the Obama/Dodd/Frank/Holder liar loan lending during the housing boom because the subsequently failed to meet Obama/Holder campaign contribution goals. Dimon said the bank has put together a "war room" to prepare for the fiscal cliff which is the $7 trillion worth of tax increases and spending cuts that will be triggered if Congress doesn't act to prevent it by Dec. 31.
Goldman got immunity for their creation of liar loan derivatives "risk free trances" and their insurance policies in case their liar loan trances went belly-up. Immunity was given because Goldman was the biggest campaign contributor to Obama’s in 2008. BOA and Wells Fargo did not meet their Obama campaign contribution shake down targets so Obama/Holder have been harassing them to teach other banks a lesson. Beware, "Wall Street and Banks will be sued to set an example"… if they do not meet the Obama/Holder campaign shakedown goals!
David Siegel, CEO of Westgate Resorts, warned his 7000 employees that they may lose their jobs if President Obama wins re-election
It has been disclosed that Facebook fought the SEC to keep mobile risks hidden before IPO crash, mobile phone size does not permit the advertising Facebook assumed was available for their revenue growth..
Yum’s chief Executive Officer David Novak said, "Very strong sales and profit at all of our divisions, including China, Yum! Restaurants International, India and the U.S., drove 19% third-quarter EPS growth."
Capital One experienced online attacks Monday as the latest victim in an ongoing cyber operation by a group claiming to be Muslims.
Alcoa kicked off earnings season on an optimistic note, disclosing a surprise profit and a good forecast.
Apple Inc. is facing extreme consumer scorn over massive number of errors produced by the iPhone’s $499 defective navigation software. Apple rivals Nokia and Google are offering the reliability of their decent digital maps available by competitors of Apple.
On Monday, the Pew Research Center disclosed that now Mitt Romney leads President Obama by 4 percentage points among likely voters after a strong debate performance last week. Romney has a 49% to 45% edge, Pew said. Last month they said Obama had an 8-point advantage among those most likely to vote in that Pew survey. Registered voters by more than 3-to-1 said Romney did a better job than Obama in their first presidential debate last week in Denver.
The Rasmussen Reports Wednesday Presidential Tracking pre-debate poll shows; Mitt Romney earns 48% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
Writing in the Wall Street Journal, Jack Welch elaborated Wednesday on his criticism of the latest government jobs report, claiming that the reported 7.8% unemployment rate is "downright implausible."
Jack Welch resigned from Fortune magazine, due to leftist critical coverage of his truthful tweet last week that the Obama Administration obviously manipulated the September jobs report. People getting checks went up the same amount Obama apparently lied and said unemployment went down.
Ken Langone was on TV Wednesday morning and he backed Jack Welch and said Obama’s unemployment numbers do not square. He also said Obama would continue to do badly in all the debates because he can’t think he has to have teleprompters and people telling him what to say but the debates do not allow that.
Jack Welch’s has all the elements right. His assertion that the U.S. unemployment numbers have been cooked to help President Barack Obama’s re-election effort is clearly in last week’s numbers. Continuing Claims 09/22 3281K up from 3271K (up 0.3%) if you look at the reported numbers used for the last unemployment rate. Unemployment Rate Sep 7.8% complete fraud down from 8.1% How can Unemployment go down 0.3% when the Continuing claims (the people picking up the unemployment checks just jumped 0.3% …except with Obama election fraud cooking the books? Jack Welch is correct and the majority of the news media are wannabe Marxists like Obama.
World Economies
Greece’s unemployment now exceeds 25%.
Prices for 40-inch LCD panels fell from about $2,700 in the beginning of 2004 to $250 in 2012. Japan’s electronics business is close to bankruptcy with China competition eating Japan’s profits and threatening Japan’s islands. But do not underestimate Japan.
Standard & Poor's on Wednesday cut Spain's sovereign credit rating to BBB-minus, just above junk, citing a deepening economic recession that is limiting Spain’s options.
Toyota Motor Corp. slipped 1.9 percent, pacing declines among Japanese carmakers that reported a slump in China sales. Note that China appears to have bottomed out. But only an end to the "Obama Depression" will lead to a recovery. Another four years of Obama will be four more years of the "Obama Depression" that is built on a continuing forced use of Obama liar loans to Obama’s lying indigent voter base.
Reports pointing to slowdowns in several important world economies are creating what may a world economic bottom before Romney is elected and gets the USA off of Marxism and back on track with free enterprise.
The International Monetary Fund said Europe’s banks would need to sell more assets through 2013 if policy makers fail to stem the fiscal crisis.
The volume of loans that will be restructured in India is expected to jump 71 percent in the year ending March 2013 to 2.05 trillion rupees from 1.2 trillion rupees a year earlier, according to estimates by Crisil, the Indian unit of Standard & Poor’s. That would mean 5.7 percent of India’s total bank loans would have been restructured over the current two-year period. That is a historic risk of world defaults.
Prime Minister David Cameron warned that Britain faces a choice between increasing its productivity now or falling behind other countries.
It is rumored Tuesday that plans to establish a single regulator to oversee 6,000 banks in Europe by January 1 will be pushed back by a year.
Huawei Technologies Co., has been shut out of American investment because China has been the greatest source of internet espionage and disruption in the world and has shown itself not just as unwilling to respect private property but as a thief and saboteur.
At stake this week is the payment of 31 billion euros ($40 billion) from bailout commitments first made in 2010 if Greece wants to continue to have membership in the 17-nation euro.
As the euro area’s debt crisis intensifies the International Monetary Fund cut its global growth forecasts and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The IMF now sees "alarmingly high" risks of a steeper slowdown, with a one-in-six chance of world growth another one third from where it is. Still China is expected to have some additional growth next year even if Obama wins.
U.K. manufacturing Factory output dropped 1.1 percent from July, much more than economists forecast and the trade gap widened, indicating the economy will likely continue to struggle to regain strength.
Spain’s black hole is growing faster than its cuts in government pensions and other government employee welfare. Interest rates on Spanish debt are rising again.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
Continuing Claims 09/22 3281K up from 3271K
Unemployment Rate Sep 7.8% complete fraud down from8.1% How can Unemployment go down 0.3% when the
Continuing claims (the people picking up the unemployment checks just jumped 0.3% …except with Obama election fraud cooking the books? Jack Welch is correct.
This Week
MBA Mortgage Index 10/06 -1.2% down tremendously from 16.6% Fewer people buying houses
Wholesale Inventories Aug 0.5% still increasing, was 0.6% Increasing is not good.
Treasury Budget Sep ???? -$62.8B
Job openings in the US dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth.
Oct 11 8:30 AM Initial Claims 10/06
Oct 11 8:30 AM Continuing Claims 09/29
Oct 11 8:30 AM Trade Balance Aug - -$44.6B
Oct 11 8:30 AM Export Prices ex-ag. Sep
Oct 11 8:30 AM Import Prices ex-oil Sep
Oct 11 11:00 AM Crude Inventories 10/06
Oct 12 8:30 AM PPI Sep
Oct 12 8:30 AM Core PPI Sep
Oct 12 9:55 AM Mich Sentiment Oct
Market outlook Oct 11, 2012
The markets are still climbing the wall of worry. Earnings reports are OK but the dark cloud of Obama gross incompetence in every facet of government still pervades the world economy. Another V-P gaff tonight in the debate will be a ray of sunlight on the world economy. If we do not get rid of Obama we go deeper into the "Obama Depression." The economy will turn around quickly in the black ink again with Mitt Romney. And that will also turn around the world economy. Marxists and Jihadists sympathizers make their economies very dark.
Both rails and bulk trade are showing some life again. Trade and commerce are the lifeblood of our economies just as the Internet is the nervous system. That is why companies like HP and Dell will come back too as the economy improves.
With the more likely defeat of wannabe Marxist Central Committee Chairman Obama, we are now optimistic on Asia and emerging markets. The USA is still the world engine for innovation and demand. The Dry Bulk trade has picked up for three weeks now and the emerging economies appear to have bottomed. We are becoming more optimistic that the idiot socialist American administration will be voted out of office. This could be the last chance America has to reduce government. US government is now 42% of the GDP, a record high under America’s first Marxist. But Obama should not feel too bad because even Hitler and Stalin would not have had a chance to rise in the USA.
Notice the recent uptick in Rails relative to Industrials and the up-tick in bulk trade. This could be the turning point if Mitt Romney is elected. If Obama wins we expect serious investors to bail out and start leaving the country in significant numbers.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out. 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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is rising. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were mixed last night with China down -0.8%, Hong Kong up 0.4%, India up 0.9%, Japan down -7%
European markets are up half way through their day in a range of +0% to +0.8%.
American market futures are up about 0.3 % in after-hour trading at 8:00 AM EST. This indicator does not correlate with anything.
Obama as commander in chief has been a fool and a traitor to the American principles of our founding fathers. The fiscal cliff Obama has built has a $600 billion military cut and then he gave Leon Panetta the job to cut yet another $400+ billion. Panetta did not realize he was doubling the military cuts! But too late, Panetta suddenly woke up and realized what he mistakenly did, and what a fool Obama made of him. So he asked the Congress not make the double cut. But it was too late. Obama will be firing non-military support people as well as military people and has to give the non-military people 60 days notice. But Obama does not want to do that before the election. Obama screwed up because he did not know he has to notify civilians 60 days before they are fired. So Obama may make an illegal executive order to defer notification until after the election and break the laws of Congress just so he does not have to tell the military the truly bad news and lose their votes.
Obama told the world which Seal team took out Osama and they all now have Al Quada bulls eyes painted on their backs because Obama bragging and loose lips has now identified even their families for Al Quada revenge. That led to that seal helicopter that was shot down in Afghanistan. It was carrying the seal team that took out Bin Laden. Any military people who vote for Obama deserve to be fired along with Obama.
The following is what the Founding Fathers gave America and what Obama and his clowns want to destroy. The American Constitution was the first in the world to protect the rights of individuals, minorities, and states by limiting the power of the federal government. It was well understood from earlier democracies that in a democracy of three persons, two persons could create and pass laws to legally expropriate and redistribute the wealth or labor of any third person. Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), "To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it."
Obama also said he wanted to create a domestic security force as strong as the military. The founding fathers specifically were against domestic armies because that is how all the European tyrants held power and killed and imprisoned their political opponents.
Obama is unpatriotic! He says that if the rich were patriotic they would give more now to pay for his voting block’s children, housing and food stamps. With Obama re-runs, everything he could possibly say to get elected he has been said before. So why does Obama waste his campaign money? If Obama were patriotic he would give all his campaign war chest to the poor. Why insult our intelligence. He said Americans would be patriotic if they gave everything away to help a delirious ignorant spend thrift Obama administration. If Obama had a brain wouldn’t he set an example then and give his $189 million raised last month for food stamps. Isn’t that what Saint patriotic Buffet would do? Electing Obama is a huge waste of money. http://thehayride.com:80/2012/09/maybe-the-best-ad-of-the-political-season-so-far/?utm_source=Nooner%2c+9-5-12&utm_campaign=Nooner+1-25-12&utm_medium=email
Jamie Dimon, CEO of the nation's largest bank JPMorgan Chase, lashed out on Wednesday at the Obama Administration on a host of issues -- from the fiscal cliff to a recent Obama-Holder federal lawsuit slapped against his bank. Obama/Holder filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest extortion volley against big banks for complying with the Obama/Dodd/Frank/Holder liar loan lending during the housing boom because the subsequently failed to meet Obama/Holder campaign contribution goals. Dimon said the bank has put together a "war room" to prepare for the fiscal cliff which is the $7 trillion worth of tax increases and spending cuts that will be triggered if Congress doesn't act to prevent it by Dec. 31.
Goldman got immunity for their creation of liar loan derivatives "risk free trances" and their insurance policies in case their liar loan trances went belly-up. Immunity was given because Goldman was the biggest campaign contributor to Obama’s in 2008. BOA and Wells Fargo did not meet their Obama campaign contribution shake down targets so Obama/Holder have been harassing them to teach other banks a lesson. Beware, "Wall Street and Banks will be sued to set an example"… if they do not meet the Obama/Holder campaign shakedown goals!
David Siegel, CEO of Westgate Resorts, warned his 7000 employees that they may lose their jobs if President Obama wins re-election
It has been disclosed that Facebook fought the SEC to keep mobile risks hidden before IPO crash, mobile phone size does not permit the advertising Facebook assumed was available for their revenue growth..
Yum’s chief Executive Officer David Novak said, "Very strong sales and profit at all of our divisions, including China, Yum! Restaurants International, India and the U.S., drove 19% third-quarter EPS growth."
Capital One experienced online attacks Monday as the latest victim in an ongoing cyber operation by a group claiming to be Muslims.
Alcoa kicked off earnings season on an optimistic note, disclosing a surprise profit and a good forecast.
Apple Inc. is facing extreme consumer scorn over massive number of errors produced by the iPhone’s $499 defective navigation software. Apple rivals Nokia and Google are offering the reliability of their decent digital maps available by competitors of Apple.
On Monday, the Pew Research Center disclosed that now Mitt Romney leads President Obama by 4 percentage points among likely voters after a strong debate performance last week. Romney has a 49% to 45% edge, Pew said. Last month they said Obama had an 8-point advantage among those most likely to vote in that Pew survey. Registered voters by more than 3-to-1 said Romney did a better job than Obama in their first presidential debate last week in Denver.
The Rasmussen Reports Wednesday Presidential Tracking pre-debate poll shows; Mitt Romney earns 48% of the vote while President Obama attracting support from 47% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
Writing in the Wall Street Journal, Jack Welch elaborated Wednesday on his criticism of the latest government jobs report, claiming that the reported 7.8% unemployment rate is "downright implausible."
Jack Welch resigned from Fortune magazine, due to leftist critical coverage of his truthful tweet last week that the Obama Administration obviously manipulated the September jobs report. People getting checks went up the same amount Obama apparently lied and said unemployment went down.
Ken Langone was on TV Wednesday morning and he backed Jack Welch and said Obama’s unemployment numbers do not square. He also said Obama would continue to do badly in all the debates because he can’t think he has to have teleprompters and people telling him what to say but the debates do not allow that.
Jack Welch’s has all the elements right. His assertion that the U.S. unemployment numbers have been cooked to help President Barack Obama’s re-election effort is clearly in last week’s numbers. Continuing Claims 09/22 3281K up from 3271K (up 0.3%) if you look at the reported numbers used for the last unemployment rate. Unemployment Rate Sep 7.8% complete fraud down from 8.1% How can Unemployment go down 0.3% when the Continuing claims (the people picking up the unemployment checks just jumped 0.3% …except with Obama election fraud cooking the books? Jack Welch is correct and the majority of the news media are wannabe Marxists like Obama.
World Economies
Greece’s unemployment now exceeds 25%.
Prices for 40-inch LCD panels fell from about $2,700 in the beginning of 2004 to $250 in 2012. Japan’s electronics business is close to bankruptcy with China competition eating Japan’s profits and threatening Japan’s islands. But do not underestimate Japan.
Standard & Poor's on Wednesday cut Spain's sovereign credit rating to BBB-minus, just above junk, citing a deepening economic recession that is limiting Spain’s options.
Toyota Motor Corp. slipped 1.9 percent, pacing declines among Japanese carmakers that reported a slump in China sales. Note that China appears to have bottomed out. But only an end to the "Obama Depression" will lead to a recovery. Another four years of Obama will be four more years of the "Obama Depression" that is built on a continuing forced use of Obama liar loans to Obama’s lying indigent voter base.
Reports pointing to slowdowns in several important world economies are creating what may a world economic bottom before Romney is elected and gets the USA off of Marxism and back on track with free enterprise.
The International Monetary Fund said Europe’s banks would need to sell more assets through 2013 if policy makers fail to stem the fiscal crisis.
The volume of loans that will be restructured in India is expected to jump 71 percent in the year ending March 2013 to 2.05 trillion rupees from 1.2 trillion rupees a year earlier, according to estimates by Crisil, the Indian unit of Standard & Poor’s. That would mean 5.7 percent of India’s total bank loans would have been restructured over the current two-year period. That is a historic risk of world defaults.
Prime Minister David Cameron warned that Britain faces a choice between increasing its productivity now or falling behind other countries.
It is rumored Tuesday that plans to establish a single regulator to oversee 6,000 banks in Europe by January 1 will be pushed back by a year.
Huawei Technologies Co., has been shut out of American investment because China has been the greatest source of internet espionage and disruption in the world and has shown itself not just as unwilling to respect private property but as a thief and saboteur.
At stake this week is the payment of 31 billion euros ($40 billion) from bailout commitments first made in 2010 if Greece wants to continue to have membership in the 17-nation euro.
As the euro area’s debt crisis intensifies the International Monetary Fund cut its global growth forecasts and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The IMF now sees "alarmingly high" risks of a steeper slowdown, with a one-in-six chance of world growth another one third from where it is. Still China is expected to have some additional growth next year even if Obama wins.
U.K. manufacturing Factory output dropped 1.1 percent from July, much more than economists forecast and the trade gap widened, indicating the economy will likely continue to struggle to regain strength.
Spain’s black hole is growing faster than its cuts in government pensions and other government employee welfare. Interest rates on Spanish debt are rising again.
China’s stock market is now almost as low as it was when Lehman Brothers collapsed when it was discovered they had liar loans hidden off the books the way Obama is hiding the Quantitative Easing money off the Treasuries Dept Books. China’s funds are looking more attractive.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets seem to be forming a market bottom.
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 may be forming a market bottom or a low.
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 gave a sell signal in 2011 and have to rise a few more percent to give a buy signal again. 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 also testing moving averages. It gave a sell signal last year. It is at a new high for 2012 and closing in on a new buy signal.
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
Continuing Claims 09/22 3281K up from 3271K
Unemployment Rate Sep 7.8% complete fraud down from8.1% How can Unemployment go down 0.3% when the
Continuing claims (the people picking up the unemployment checks just jumped 0.3% …except with Obama election fraud cooking the books? Jack Welch is correct.
This Week
MBA Mortgage Index 10/06 -1.2% down tremendously from 16.6% Fewer people buying houses
Wholesale Inventories Aug 0.5% still increasing, was 0.6% Increasing is not good.
Treasury Budget Sep ???? -$62.8B
Job openings in the US dropped for a second straight month in August, indicating companies are reluctant to beef up payrolls through year-end without faster economic growth.
Oct 11 8:30 AM Initial Claims 10/06
Oct 11 8:30 AM Continuing Claims 09/29
Oct 11 8:30 AM Trade Balance Aug - -$44.6B
Oct 11 8:30 AM Export Prices ex-ag. Sep
Oct 11 8:30 AM Import Prices ex-oil Sep
Oct 11 11:00 AM Crude Inventories 10/06
Oct 12 8:30 AM PPI Sep
Oct 12 8:30 AM Core PPI Sep
Oct 12 9:55 AM Mich Sentiment Oct
Market outlook Oct 11, 2012
The markets are still climbing the wall of worry. Earnings reports are OK but the dark cloud of Obama gross incompetence in every facet of government still pervades the world economy. Another V-P gaff tonight in the debate will be a ray of sunlight on the world economy. If we do not get rid of Obama we go deeper into the "Obama Depression." The economy will turn around quickly in the black ink again with Mitt Romney. And that will also turn around the world economy. Marxists and Jihadists sympathizers make their economies very dark.
Both rails and bulk trade are showing some life again. Trade and commerce are the lifeblood of our economies just as the Internet is the nervous system. That is why companies like HP and Dell will come back too as the economy improves.
With the more likely defeat of wannabe Marxist Central Committee Chairman Obama, we are now optimistic on Asia and emerging markets. The USA is still the world engine for innovation and demand. The Dry Bulk trade has picked up for three weeks now and the emerging economies appear to have bottomed. We are becoming more optimistic that the idiot socialist American administration will be voted out of office. This could be the last chance America has to reduce government. US government is now 42% of the GDP, a record high under America’s first Marxist. But Obama should not feel too bad because even Hitler and Stalin would not have had a chance to rise in the USA.
Notice the recent uptick in Rails relative to Industrials and the up-tick in bulk trade. This could be the turning point if Mitt Romney is elected. If Obama wins we expect serious investors to bail out and start leaving the country in significant numbers.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The DJR must still confirm the DJI for there to be a new DOW buy signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. The one-year cycle is still sell but the three months now gives hope for a future buy signal. While it shows that Obama may be taking America into a profoundly deeper depression breaking 2009 lows if he is re-elected we have hope of an anticipated recovery if Obama is thrown out. 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 to meet even the last 3-month shoulder of the head and shoulder sell signal. But bulk trade is rising and October looks like a turn around beginning. http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=1m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
The rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years. We have get Obama out and stop his QE Ponzi scheme.
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 USA VIX is rising. A 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 Obama loses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip peaked again. China probably hit bottom and may be ready to bounce.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were mixed last night with China down -0.8%, Hong Kong up 0.4%, India up 0.9%, Japan down -7%
European markets are up half way through their day in a range of +0% to +0.8%.
American market futures are up about 0.3 % in after-hour trading at 8:00 AM EST. This indicator does not correlate with anything.
Monday, October 1, 2012
The Democrats are running all the voter registration companies so when one was hired by the Republicans the Democrats checked and sure enough they were still registering dead people with forged signitures this time as Republicans. So the Republicans had to immediately fire the Democrat voter Registration company. What an embarassment for Democrats! They did it when Bush won too, only this time the polling is being fraudulently manipulated by about 9% not 5%. Remember when Christy Whitman won in NJ the last time she ran, the democrat polls had her down by a record 16% disconnect the week before she was re-elected.
Churches have started blasting Obama’s attack on American Freedom of Religion this past Sunday and plan to sue Obama to the Supreme Court. Most of the Catholic hospitals in NYC were forced to close because they cannot afford what Obama charges them in fines as he harasses them. Obama also harasses the people who contribute to Church charities and says they will lose their tax exemption. Over 20,000 new Obama IRS agents are out terrorizing taxpayers with false claims. Many taxpayers are confused and just pay whatever the IRS says they owe.
You needed to get out of stocks when Obama was first saying we were in a depression. That was before the crash started in 2008 when Obama was selected at his convention. Immediately after the Obama convention the market began to plunge. By the time Obama was sworn in the democrat liar loan-Freddie-Fannie congressional wealth redistribution fraud with Senator Dodd had unraveled and the market was already down half. Stock funds are not much better because the terrible funds are bought for pennies on the dollar by the better funds and all the worthless investments are de-listed and buried from view. No one keeps records of buried mismanaged funds. Look at five years of Bulk Trade and the DJT to see how materials and product flows have fallen.
Obama uses a teleprompter and an earpiece to tell him everything!
http://www.youtube.com/watch?v=t4-AKcH3eC8&NR=1&feature=endscreen
http://www.youtube.com/watch?v=bEMCil2iRt4&feature=related
Obama Supporters
http://www.youtube.com/watch?v=tV8P-vib5n8&feature=related
http://www.youtube.com/watch?v=woBC5b3Ti0M&feature=related
http://www.youtube.com/watch?v=e_JJLLfTR8I&feature=related
Do you remember the Black Panthers intimidated election poll workers and Obama and Holder did not prosecute them?
http://www.youtube.com/watch?v=ddRNy4MISkg&feature=related
http://www.youtube.com/watch?v=XKGdkqfBICw&feature=player_embedded
NABE’s latest economic policy survey found that American economists believe Obama health-care costs will grow exponentially over the next 10 years rather than produce any savings. Legal fees for deaths caused by the waiting line for cancer treatments will be an economic boon for attorneys.
The "D" word refers to economic "depression" as when Obama said Bush put us into a "Depression" well before the run on the bank that Senator Dodd started by announcing that a California bank was going to fail. Together Obama and Dodd (on the Senate Banking Commission) did something that no others in the history of America did. They deliberately undermined confidence in American banks after they both had undermined the housing industry and the banks by requiring that real estate companies and banks give and have Fannie and Freddie underwrite "Liar Loans" to indigents who could not get home mortgages unless they lied about their income and savings. That is right, if the bank denied a loan because the applicant supplied no proof of income, and the applicant was a minority the bank and realtors became vulnerable to being sued for racial discrimination by the justice Department (now under Obama-Holder). These worthless loans were made into "financial derivatives" that people and institutions invested in. Derivatives made from Obama-Dodd "Liar Loans" are what caused the collapse of the American Banks in 2007.
The Rasmussen Reports daily Presidential Tracking Poll shows; Mitt Romney earns 46% of the vote while President Obama attracting support from 46% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
EU unemployment rose above 11 %.
Spain has been reduced today to CC or junk status.
Friday the German DAX plummeted 1% and the French CAC fell 2.5%
Bulk world trade has completely collapsed and the Dow Jones Transportation Index has flatlined.
Analysts are lowering estimates for European earnings growth by 52 percent, clashing with investors whose confidence in the European Central Bank helped send equity valuations to a 2 1/2-year high.
China’s stocks continue to decline.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Here is one that Obama will not touch and could stop in a second if it were not the truth. He does not believe in the American dream because it never was socialism.
http://www.youtube.com/watch?feature=fvwp&NR=1&v=l-HqHSkYG-Y
Emerging markets. The other American markets are essential to the recovery of the world are showing some investor interest but no underlying economic improvement.
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 2011 high. It gave a sell signal in 2011 and has to rise a few more percent to give a buy signal again. 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 also 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 failed to break out of old resistance levels. Something has to break loose. QE3 did not even start and it is now totally discounted by the market run-up and all it did for Japan in 1990 was cause their stock market to collapse. Fools say the market has also discounted an Obama re-election. If that were true the stock market would be in free fall.
Precious metals ETF’s are a high risk if there is a market pullback. Smart investors recently took their record 15% market appreciation profits and have moved to the sidelines.
Case-Shiller 20-city Index Jul +1.2% from 0.5%
Consumer Confidence Sep 70.3 improved from 61.3
FHFA Housing Price Index Jul 0.2% increase slowed from 0.7%
MBA Mortgage Index 09/22 +2.8% improved from -0.2%
New Home Sales Aug 373K down from 374K
Crude Inventories 09/22 -2.446M falling fast from 8.534M ….not good
Initial Claims 09/22 359K down slightly from 382K
http://www.martincapital.com/index.php?page=graph&view=initial_unemployment
Continuing Claims 09/15 3271K down from 3272K
Durable Orders Aug -13.2% sharply lower than 4.2%
Durable Orders -ex Transportation Aug -1.6% sharply lower than-0.6%
GDP - Third Estimate Q2 1.3% down sharply from 1.7%
GDP Deflator - Third Estimate Q2 1.6% exceeds growth by 0.3% 1.6% an annual rate of 6.4% (4 * 1.6 = 6.4%)well above the FEDs 3% annual goal.
Pending Home Sales Aug -2.6% fell 5% from 2.4%
Friday
Personal Income Aug 0.1% rose by inflation 0.3%
Personal Spending Aug 0.5% rose with increasing inflation 0.4%
Producer CE Prices - Core Aug 0.1% rose from 0.0%
Chicago Manufacturing index Sep 49.7 down tom 53.0 means manufacturing continues to contract.
Michigan Sentiment - Final Sep 78.3 declined further from 79.2
Gasoline jumps on low supplies
Today
Oct 1 10:00 AM ISM Index Sep
Oct 1 10:00 AM Construction Spending Aug
This Week
Oct 2 2:00 PM Auto Sales Sep
Oct 2 2:00 PM Truck Sales Sep
Oct 3 7:00 AM MBA Mortgage Index 09/29
Oct 3 8:15 AM ADP Employment Change Sep
Oct 3 10:00 AM ISM Services Sep
Oct 3 10:30 AM Crude Inventories 09/29
Oct 3 2:00 PM FOMC Minutes 9/12
Oct 4 7:30 AM Challenger Job Cuts Sep
Oct 4 8:30 AM Initial Claims 09/29
Oct 4 8:30 AM Continuing Claims 09/22
Oct 4 10:00 AM Factory Orders Aug
Oct 5 8:30 AM Nonfarm Payrolls Sep
Oct 5 8:30 AM Nonfarm Private Payrolls Sep
Oct 5 8:30 AM Unemployment Rate Sep
Oct 5 8:30 AM Hourly Earnings Sep
Oct 5 8:30 AM Average Workweek Sep
Oct 5 3:00 PM Consumer Credit Aug
Market outlook Oct 1, 2012
The FED is stoking the next unstable bubble. It will be the collapse of treasuries when inflation hits. Obama floods the world with cash but no hope for recovery and no change in investment opportunities. Still no fixed interest investments with any underlying value.
U.S. stocks fell last week, sending the Standard & Poor’s 500 Index toward its worst week since June, as US business activity unexpectedly contracted in September And Asia contracted for the third month. However Obama has had the stock market on steroids flushing banks with money without housing or other investment vehicles to absorb the cash. Therefore it is totally wasted.
The market could plunge any time as the world discounts the possible re-election of Obama and the USA multi-trillion dollar cliff that Obama insisted be pushed to after the election.
The DJT again fell away from the DOW and for the first time on Tuesday the media has begun to pick up on this failure to confirm the economy. Falling transportation and the collapse in bulk trade is warning the world is now in a deep depression and all of the recovery is nothing but Obama and socialist inflation that is not truthfully reported by the socialists. We may have just passed the high for the year.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
There still has been no stock market buy signal and the run-up seems to be over. The NYSE did have a 3mo-cycle breakout but not a major 1yr-cycle breakout.
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. There still is no DOW Buy Signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
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 rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years.
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 VIX down in high risk La-La Land. 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 lose.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip up just stopped. China may not have hit bottom yet. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down last night with China; markets closed this week. India up 0.3%, Taiwan down -0.5%, Japan down -0.8%
European markets up half way through their day in a range of 0.1% to 1.5%.
American market futures are up about 0.5% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
You needed to get out of stocks when Obama was first saying we were in a depression. That was before the crash started in 2008 when Obama was selected at his convention. Immediately after the Obama convention the market began to plunge. By the time Obama was sworn in the democrat liar loan-Freddie-Fannie congressional wealth redistribution fraud with Senator Dodd had unraveled and the market was already down half. Stock funds are not much better because the terrible funds are bought for pennies on the dollar by the better funds and all the worthless investments are de-listed and buried from view. No one keeps records of buried mismanaged funds. Look at five years of Bulk Trade and the DJT to see how materials and product flows have fallen.
Obama uses a teleprompter and an earpiece to tell him everything!
http://www.youtube.com/watch?v=t4-AKcH3eC8&NR=1&feature=endscreen
http://www.youtube.com/watch?v=bEMCil2iRt4&feature=related
Obama Supporters
http://www.youtube.com/watch?v=tV8P-vib5n8&feature=related
http://www.youtube.com/watch?v=woBC5b3Ti0M&feature=related
http://www.youtube.com/watch?v=e_JJLLfTR8I&feature=related
Do you remember the Black Panthers intimidated election poll workers and Obama and Holder did not prosecute them?
http://www.youtube.com/watch?v=ddRNy4MISkg&feature=related
http://www.youtube.com/watch?v=XKGdkqfBICw&feature=player_embedded
NABE’s latest economic policy survey found that American economists believe Obama health-care costs will grow exponentially over the next 10 years rather than produce any savings. Legal fees for deaths caused by the waiting line for cancer treatments will be an economic boon for attorneys.
The "D" word refers to economic "depression" as when Obama said Bush put us into a "Depression" well before the run on the bank that Senator Dodd started by announcing that a California bank was going to fail. Together Obama and Dodd (on the Senate Banking Commission) did something that no others in the history of America did. They deliberately undermined confidence in American banks after they both had undermined the housing industry and the banks by requiring that real estate companies and banks give and have Fannie and Freddie underwrite "Liar Loans" to indigents who could not get home mortgages unless they lied about their income and savings. That is right, if the bank denied a loan because the applicant supplied no proof of income, and the applicant was a minority the bank and realtors became vulnerable to being sued for racial discrimination by the justice Department (now under Obama-Holder). These worthless loans were made into "financial derivatives" that people and institutions invested in. Derivatives made from Obama-Dodd "Liar Loans" are what caused the collapse of the American Banks in 2007.
The Rasmussen Reports daily Presidential Tracking Poll shows; Mitt Romney earns 46% of the vote while President Obama attracting support from 46% of voters nationwide. The Obama Great Depression would get a lot deeper if he wins
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
EU unemployment rose above 11 %.
Spain has been reduced today to CC or junk status.
Friday the German DAX plummeted 1% and the French CAC fell 2.5%
Bulk world trade has completely collapsed and the Dow Jones Transportation Index has flatlined.
Analysts are lowering estimates for European earnings growth by 52 percent, clashing with investors whose confidence in the European Central Bank helped send equity valuations to a 2 1/2-year high.
China’s stocks continue to decline.
http://in.finance.yahoo.com/echarts?s=000001.SS#symbol=000001.ss;range=5y;compare=;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Here is one that Obama will not touch and could stop in a second if it were not the truth. He does not believe in the American dream because it never was socialism.
http://www.youtube.com/watch?feature=fvwp&NR=1&v=l-HqHSkYG-Y
Emerging markets. The other American markets are essential to the recovery of the world are showing some investor interest but no underlying economic improvement.
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 2011 high. It gave a sell signal in 2011 and has to rise a few more percent to give a buy signal again. 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 also 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 failed to break out of old resistance levels. Something has to break loose. QE3 did not even start and it is now totally discounted by the market run-up and all it did for Japan in 1990 was cause their stock market to collapse. Fools say the market has also discounted an Obama re-election. If that were true the stock market would be in free fall.
Precious metals ETF’s are a high risk if there is a market pullback. Smart investors recently took their record 15% market appreciation profits and have moved to the sidelines.
Case-Shiller 20-city Index Jul +1.2% from 0.5%
Consumer Confidence Sep 70.3 improved from 61.3
FHFA Housing Price Index Jul 0.2% increase slowed from 0.7%
MBA Mortgage Index 09/22 +2.8% improved from -0.2%
New Home Sales Aug 373K down from 374K
Crude Inventories 09/22 -2.446M falling fast from 8.534M ….not good
Initial Claims 09/22 359K down slightly from 382K
http://www.martincapital.com/index.php?page=graph&view=initial_unemployment
Continuing Claims 09/15 3271K down from 3272K
Durable Orders Aug -13.2% sharply lower than 4.2%
Durable Orders -ex Transportation Aug -1.6% sharply lower than-0.6%
GDP - Third Estimate Q2 1.3% down sharply from 1.7%
GDP Deflator - Third Estimate Q2 1.6% exceeds growth by 0.3% 1.6% an annual rate of 6.4% (4 * 1.6 = 6.4%)well above the FEDs 3% annual goal.
Pending Home Sales Aug -2.6% fell 5% from 2.4%
Friday
Personal Income Aug 0.1% rose by inflation 0.3%
Personal Spending Aug 0.5% rose with increasing inflation 0.4%
Producer CE Prices - Core Aug 0.1% rose from 0.0%
Chicago Manufacturing index Sep 49.7 down tom 53.0 means manufacturing continues to contract.
Michigan Sentiment - Final Sep 78.3 declined further from 79.2
Gasoline jumps on low supplies
Today
Oct 1 10:00 AM ISM Index Sep
Oct 1 10:00 AM Construction Spending Aug
This Week
Oct 2 2:00 PM Auto Sales Sep
Oct 2 2:00 PM Truck Sales Sep
Oct 3 7:00 AM MBA Mortgage Index 09/29
Oct 3 8:15 AM ADP Employment Change Sep
Oct 3 10:00 AM ISM Services Sep
Oct 3 10:30 AM Crude Inventories 09/29
Oct 3 2:00 PM FOMC Minutes 9/12
Oct 4 7:30 AM Challenger Job Cuts Sep
Oct 4 8:30 AM Initial Claims 09/29
Oct 4 8:30 AM Continuing Claims 09/22
Oct 4 10:00 AM Factory Orders Aug
Oct 5 8:30 AM Nonfarm Payrolls Sep
Oct 5 8:30 AM Nonfarm Private Payrolls Sep
Oct 5 8:30 AM Unemployment Rate Sep
Oct 5 8:30 AM Hourly Earnings Sep
Oct 5 8:30 AM Average Workweek Sep
Oct 5 3:00 PM Consumer Credit Aug
Market outlook Oct 1, 2012
The FED is stoking the next unstable bubble. It will be the collapse of treasuries when inflation hits. Obama floods the world with cash but no hope for recovery and no change in investment opportunities. Still no fixed interest investments with any underlying value.
U.S. stocks fell last week, sending the Standard & Poor’s 500 Index toward its worst week since June, as US business activity unexpectedly contracted in September And Asia contracted for the third month. However Obama has had the stock market on steroids flushing banks with money without housing or other investment vehicles to absorb the cash. Therefore it is totally wasted.
The market could plunge any time as the world discounts the possible re-election of Obama and the USA multi-trillion dollar cliff that Obama insisted be pushed to after the election.
The DJT again fell away from the DOW and for the first time on Tuesday the media has begun to pick up on this failure to confirm the economy. Falling transportation and the collapse in bulk trade is warning the world is now in a deep depression and all of the recovery is nothing but Obama and socialist inflation that is not truthfully reported by the socialists. We may have just passed the high for the year.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
There still has been no stock market buy signal and the run-up seems to be over. The NYSE did have a 3mo-cycle breakout but not a major 1yr-cycle breakout.
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. There still is no DOW Buy Signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=3m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
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 rise of the stock market was the effects of the Ponzi QE3 scheme. In Japan it led to their 22-year recession and a market that eventually declined for the last 22 years.
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 VIX down in high risk La-La Land. 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 lose.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=
Well the Baltic Dry Index blip up just stopped. China may not have hit bottom yet. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets followed were down last night with China; markets closed this week. India up 0.3%, Taiwan down -0.5%, Japan down -0.8%
European markets up half way through their day in a range of 0.1% to 1.5%.
American market futures are up about 0.5% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
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