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.