Indiana State Treasurer, Mourdock, backed by FreedomWorks, the Tea Party movement, and the Club for Growth beat Senator Lugar who was in office for six terms (36 years). Lugar's campaign spent $6.7 million compared to Mourdock's $2 million and Mourdock beat Lugar 61% to 39%. It looks like the Senate will fall to the Tea Party the way the Democrat controlled House fell in 2010.
Moody’s Investors Service will this month start cutting the credit ratings of more than 100 banks. BNP Paribas SA, France’s largest lender, Deutsche Bank AG, Germany’s largest, and New York-based Morgan Stanley face having their short- and long-term debt downgraded to their lowest-ever levels by February. The cuts, which follow downgrades by Standard & Poor’s and Fitch Ratings last year, would erode profits, trigger margin calls and leave some firms unable to borrow from money- market funds that have strict rules on who they can lend to. Without access to funding from private sources, banks have had to sell assets and reduce lending.
Read just how ignorant and insane socialists really can be when liberals give them cradle to grave control of their lives. People who were deemed to have been the lazy elite, (in other words the educated and the skilled), were brutally murdered. Every vestige of the former free way of life had to be destroyed. Many people tried to conceal their identity or former occupation, but were eventually found out or betrayed. Whole families were executed. Babies were killed by smashing their skulls against trees.
http://www.cambcomm.org.uk/holocaust.html
http://david.shortens.net/tag/north-korean-genocide/
http://www.hawaii.edu/powerkills/SOD.CHAP10.HTM
James Madison in the Federalist Papers, Feb 5, 1788 warned 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." The American Bill of Rights gives Americans the right to have guns, not just to hunt. Jefferson said, “The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government”.
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney earning 49% of the vote and President Obama attracting 44% support. Three percent (3%) would vote for a third party candidate, while another three percent (3%) are undecided.
New Low: 44% Predict U.S. Economy Will Be Stronger In Five Years
Generic Congressional Ballot: Republicans 44%, Democrats 41%
82% Favor Creation of Stand-Alone Social Security Trust Fund
39% Think Most Muslims See U.S. As An Enemy, 35% Disagree
69% Favor Use of Military Overseas Only When U.S. National Security is Threatened
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Greek stock index hits near 20-year low Fascist (nationalist) socialism and Communist (international socialism) grows in France and Greece again as it did in Europe before the last two world wars. Today in Europe stocks fell, sending Europe’s benchmark gauge to the lowest level in four months, while the euro weakened and Spanish default risk climbed to a record as investors awaited resolution to Greece’s political impasse. U.S. stock-index futures and precious metals also declined.
Alexis Tsipras, whose Syriza party placed second in the Greek elections on May 6, said he would try now to form a coalition government of left-wing parties. The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe.
Europeans are selling European stocks and are investing in American stocks.
U.K. retail sales fell the most last month in more than a year as consumer caution on spending curbed demand at stores.
German exports adjusted for seasonal changes, rose for a third month in March.
The country’s top three carmakers and their suppliers have benefited from thriving demand in China. Today’s report suggests Germany may have returned to growth in the first quarter after the economy shrank in the final quarter of 2011.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Manufacturers in the U.S. became less- optimistic about 2012 sales growth than at the end of last year, while service companies grew more upbeat, according to a survey by the Institute for Supply Management.
There are three risks to worry about: the upcoming "fiscal cliff" at year-end 2012 and a worsening of the eurozone debt crisis. “Operation Twist” currently ends in June, Bush-era tax cuts are set to expire, automatic spending cuts are set to be triggered and the aforementioned stimulus programs are winding down. Cuts to stimulus alone, even with an extension of tax cuts, will be a drag on the US economy in the short term. On Europe:
The Federal Reserve may be forced to re-introduce quantitative easing “QE3”, to combat the slowing U.S. economy and relieve the threat of higher USA debt interest after it ends in June. The Obama Regime will have created $6 Trillion new debt in its four years or $1.5 Trillion debt per year. The highest deficit of the George W Bush presidency was $half-a-trillion or one third the Dumboma debt rate and President Bush handled the Bill Clinton Dot Com bubble crash, the 911 attack and two big spending Congresses controlled by the Democrats-socialists.
Monday
Obama’s tax rebate for his voting welfare constituency is so corrupt there are actually thousands of identity thefts even of “dead people” getting income tax money back from Obama. This is money back for Obama supporters who paid no income taxes at all. That cash flow was already baked into the USA economy in the first quarter. Now the world’s real economic crunch is starting. We need to get Obama out of office or we are headed for the “Obama Greatest Depression.”
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 9, 2012
The world owns most of America’s debt and now some are investing in American businesses. This shift from US Treasuries to American Stocks probably is why we are not already at a new stock market low. This has been the entire stock market support since the fall of 2011. Cramer wonders when it will start to kick in, but in reality it is almost over. Once the stock market drops 10%, bond investors will realize they made a bad move into the stock market.
John Gault has been sitting on a pile of cash because he sees no point in working and creating jobs so that the Obama socialists can confiscate their earnings with higher taxes. American taxes have become extortion by socialists that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies. So John Gault takes his money, closes shop and move out of the USA to his safe haven. Dumaboma can’t understand why GE pays no taxes and there are no jobs. It is because the real wealth creators can only avoid extortion by shutting down and staying in cash. Cash is king today because we use credit and there is very little cash in circulation. That is why no one who is smart buys gold any more. Cash is king because socialists ultimately confiscate gold from the rich and the banks when they nationalize everything if they are not thrown out of office or engaged in another world war.
ACORN, Black Panthers, Puerto Rican terrorists…all the friends of the Obama-Holden Administration, are the examples of the petty greed of socialists and their viscous and idle following. They are why John Gault sold and took his cash and moved to a safe hideout. That is how the story ends. The economy collapses when the movers and shakers leave the economy. It would collapse anyway because if you help a socialist you end up with a new Hitler or a new Stalin. They are beginning to get the votes in Greece and France now. It is better to retire long before the national socialists or international socialists take power. At least that was John Gault’s theory.
No Dow Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed having broken below the first neckline and now the second neckline is being tested. Usually the market plunges when the second neckline is also broken. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. For an Obama Great Depression to be declared the market would need to drop another 20% from this current level. That could happen if the Obama Regime is re-elected.
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;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will begin to get even uglier.http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China down –1.7%, Hong Kong down –0.8%, India down –0.4%, Taiwan down -0.9%, Japan down –1.5%.
European markets were down sharply half way through their day in a range of +0.1% to-1.9%
American market futures are down about –0.7% in after hour trading at 8:30 AM EST
Wednesday, May 9, 2012
Tuesday, May 8, 2012
Obama knows that if he releases his grades he will confirm the suspicion that he is even dumber than Joe Biden and Al gore who both had lower grades than George Bush Jr. had.
How embarrassing it is for Obama. Osama thought Joe Biden was so incompetent that Biden was on Osama’s “Keep safe” list.
The reason America is ranked 25 in international education scores is because we are a heterogeneous population with Nigerians, Haitians, Cubans, Mexicans, Indonesians, Chinese, Japanese, and just a minority of the original homogeneous Western Europeans who still have the highest world standards. Take Obama for instance, he would not be ashamed to show his grades in Nigeria or Indonesia because he looked bright by their standards. In fact if we took Obama’s test results (that he refuses to release) out of the American national average, America would probably be a little closer behind Germany, Britain, Italy, and France just like America was thirty-forty years ago when we were not a cross section of the third world.
Who are Obama’s “greedy”? Obama says you are greedy if:
if you go out and work hard and buy your food without food stamps,
if and instead of living in subsidized housing, you buy a home without a liar loan,
if you work hard and study hard and pay off your student loans instead of getting government scholarship for your race, and flaunt your greed by paying off your tuition loans.
If you do not want to turn your paycheck over to the viscous and idle.
Obama's greedy are the minority now in America who pay 90% of the USA income taxes.
By Obama's definition the "greedy" are the people who actually like to work and therefore must not appear to be considered normal Americans to Obama's viscious and idle majority.
The viscous and idle win elections by being bussed to up to forty different poll locations and voting in the name of people who do not exist but can be registered because there is Obama-Holden voter registration fraud. The real greedy people are the lazy Obama-Holden people, the viscous and idle thugs who think money grows on trees and you are their money tree. In the past they did not bother to vote. But in Obama’s new America and in Putin’s old Russia they each vote at least 40 times a day.
http://www.youtube.com/watch?v=TkZrMpv0Pss
http://www.youtube.com/watch?v=wefETlCp644
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
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."
NAVY SEALS TELL DETAILS OF KILLING BIN LADENhttp://www.usnews.com/news/blogs/washington-whispers/2011/09/27/navy-seals-reveal-bin-laden-killing-story
Upset by the official account, US Navy Seals commandos wrote a book to reveal the truth of the raid that killed Osama. The Seals have spoken out because they were angered at the version given by politicians. First of all they captured all the computers allowing America to locate the entire network, and before the CIA could take the network out, Obama warned them that we had the intelligence on them. Secondly Obama portrayed the Seals as cold-blooded murderers on a “kill mission”. Pfarrer insists Osama would have been captured had he surrendered and not reached for his AK46. The helicopter went down because of a control failure as they were leaving, not because of an accident upon arrival as the White House said.
They were also shocked that Obama announced Osama’s death on television the same evening, rendering useless much of the intelligence they had just riked their lives to seize. Osama was killed within 90 seconds of the US Navy Seals landing in his compound, and not after a protracted gun battle, according to the first account by the men who carried out the raid. Pfarrer says isn’t a politician in the world who wouldn’t be tempted to take credit for getting Osama, but it devalued the ‘intel’ and it gave time for every other Al-Qaeda leader to scurry to another bolt hole. The men who did this and their valorous act deserve better. It’s a pretty shabby way to treat these guys.”
The Rasmussen Reports daily Presidential Tracking Poll for Monday shows Mitt Romney earning 47% of the vote and President Obama attracting 45% support. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe. Europeans are selling European stocks and are investing in American stocks. American is now the market of choice because Obama is now seen as the loser in November and the world thinks America still has a chance to stop socialist big-government-union boss corruption.
Putin is the prototype persona for and American “Big Union Boss Man” :like Jimmy Hoffa was. A “Boss Man” is a gangster. Jimmy Hoffa is now living with the fishes wearing concrete boots.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
The Fed said it would continue though June 2012, its swap of $400 billion of short-term debt with long-term debt to lengthen the average maturity of its balance sheet—a move termed "Operation Twist." The Fed also did not adjust its policy of keeping nominal mortgage rates low.
There are three risks to worry about: the upcoming "fiscal cliff" at year-end 2012 and a worsening of the eurozone debt crisis. “Operation Twist” ends in June, Bush-era tax cuts are set to expire, automatic spending cuts are set to be triggered and the aforementioned stimulus programs are winding down. Cuts to stimulus alone, even with an extension of tax cuts, will be a drag on the US economy in the short term. On Europe: If European sovereign debt problems threaten to spread to the US banking sector and affect US economic growth, the Fed may be pushed to respond with some form of additional monetary stimulus.
Yesterday
Consumer Credit Mar $21.4B jumped from $8.7B many low-income people charge more so they can pay their taxes. At the same time everyone on welfare was spending his or her Obama tax rebate. This is so corrupt there are actually thousands of identity thieves even of “dead people” getting money back that pay no taxes. That cash flow was already baked into the USA economy in the first quarter. Now the world’s real economic crunch is starting. We need to get Obama out of office or we are headed for the Obama Depression.
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 8, 2012
The world owns most of America’s debt and now some are investing in American businesses. This shift from US Treasuries to American Stocks probably is why we are not already at a new stock market low. This has been the entire stock market support since the fall of 2011. Cramer wonders when it will start to kick in, but in reality it is almost over. Once the stock market drops 10%, bond investors will realize they made a bad move into the stock market.
We have been predicting this recent rally would be the last of this cycle. Most people were expecting one or two more rallies. John Gault has been sitting on a pile of cash preparing for this time when suddenly the world’s income falls close to zero because taxes have become extortion by governments that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies.
ACORN, Black Panthers, terrorists…all the friends of the Obama-Holden Administration, are the examples of the petty greed of Obama-Holden socialists and their viscous, idle following
No Dow Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will begin to get even uglier.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur. Look at 5 years to see where we were and where the Obama-Holden Administration has taken the world. We once had good presidents that inspired good Americans, not just the greedy viscous and idle.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down –0.1%, Hong Kong down –0.2%, India down -2.2%, Taiwan up 0.1%, Japan up 0.7%.
European markets were down half way through their day, in a range of +0.6% to-1.8% for France and –3.4% for Athens
American market futures are down about –0.6% in after hour trading at 8:30 AM EST
The reason America is ranked 25 in international education scores is because we are a heterogeneous population with Nigerians, Haitians, Cubans, Mexicans, Indonesians, Chinese, Japanese, and just a minority of the original homogeneous Western Europeans who still have the highest world standards. Take Obama for instance, he would not be ashamed to show his grades in Nigeria or Indonesia because he looked bright by their standards. In fact if we took Obama’s test results (that he refuses to release) out of the American national average, America would probably be a little closer behind Germany, Britain, Italy, and France just like America was thirty-forty years ago when we were not a cross section of the third world.
Who are Obama’s “greedy”? Obama says you are greedy if:
if you go out and work hard and buy your food without food stamps,
if and instead of living in subsidized housing, you buy a home without a liar loan,
if you work hard and study hard and pay off your student loans instead of getting government scholarship for your race, and flaunt your greed by paying off your tuition loans.
If you do not want to turn your paycheck over to the viscous and idle.
Obama's greedy are the minority now in America who pay 90% of the USA income taxes.
By Obama's definition the "greedy" are the people who actually like to work and therefore must not appear to be considered normal Americans to Obama's viscious and idle majority.
The viscous and idle win elections by being bussed to up to forty different poll locations and voting in the name of people who do not exist but can be registered because there is Obama-Holden voter registration fraud. The real greedy people are the lazy Obama-Holden people, the viscous and idle thugs who think money grows on trees and you are their money tree. In the past they did not bother to vote. But in Obama’s new America and in Putin’s old Russia they each vote at least 40 times a day.
http://www.youtube.com/watch?v=TkZrMpv0Pss
http://www.youtube.com/watch?v=wefETlCp644
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
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."
NAVY SEALS TELL DETAILS OF KILLING BIN LADENhttp://www.usnews.com/news/blogs/washington-whispers/2011/09/27/navy-seals-reveal-bin-laden-killing-story
Upset by the official account, US Navy Seals commandos wrote a book to reveal the truth of the raid that killed Osama. The Seals have spoken out because they were angered at the version given by politicians. First of all they captured all the computers allowing America to locate the entire network, and before the CIA could take the network out, Obama warned them that we had the intelligence on them. Secondly Obama portrayed the Seals as cold-blooded murderers on a “kill mission”. Pfarrer insists Osama would have been captured had he surrendered and not reached for his AK46. The helicopter went down because of a control failure as they were leaving, not because of an accident upon arrival as the White House said.
They were also shocked that Obama announced Osama’s death on television the same evening, rendering useless much of the intelligence they had just riked their lives to seize. Osama was killed within 90 seconds of the US Navy Seals landing in his compound, and not after a protracted gun battle, according to the first account by the men who carried out the raid. Pfarrer says isn’t a politician in the world who wouldn’t be tempted to take credit for getting Osama, but it devalued the ‘intel’ and it gave time for every other Al-Qaeda leader to scurry to another bolt hole. The men who did this and their valorous act deserve better. It’s a pretty shabby way to treat these guys.”
The Rasmussen Reports daily Presidential Tracking Poll for Monday shows Mitt Romney earning 47% of the vote and President Obama attracting 45% support. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe. Europeans are selling European stocks and are investing in American stocks. American is now the market of choice because Obama is now seen as the loser in November and the world thinks America still has a chance to stop socialist big-government-union boss corruption.
Putin is the prototype persona for and American “Big Union Boss Man” :like Jimmy Hoffa was. A “Boss Man” is a gangster. Jimmy Hoffa is now living with the fishes wearing concrete boots.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
The Fed said it would continue though June 2012, its swap of $400 billion of short-term debt with long-term debt to lengthen the average maturity of its balance sheet—a move termed "Operation Twist." The Fed also did not adjust its policy of keeping nominal mortgage rates low.
There are three risks to worry about: the upcoming "fiscal cliff" at year-end 2012 and a worsening of the eurozone debt crisis. “Operation Twist” ends in June, Bush-era tax cuts are set to expire, automatic spending cuts are set to be triggered and the aforementioned stimulus programs are winding down. Cuts to stimulus alone, even with an extension of tax cuts, will be a drag on the US economy in the short term. On Europe: If European sovereign debt problems threaten to spread to the US banking sector and affect US economic growth, the Fed may be pushed to respond with some form of additional monetary stimulus.
Yesterday
Consumer Credit Mar $21.4B jumped from $8.7B many low-income people charge more so they can pay their taxes. At the same time everyone on welfare was spending his or her Obama tax rebate. This is so corrupt there are actually thousands of identity thieves even of “dead people” getting money back that pay no taxes. That cash flow was already baked into the USA economy in the first quarter. Now the world’s real economic crunch is starting. We need to get Obama out of office or we are headed for the Obama Depression.
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 8, 2012
The world owns most of America’s debt and now some are investing in American businesses. This shift from US Treasuries to American Stocks probably is why we are not already at a new stock market low. This has been the entire stock market support since the fall of 2011. Cramer wonders when it will start to kick in, but in reality it is almost over. Once the stock market drops 10%, bond investors will realize they made a bad move into the stock market.
We have been predicting this recent rally would be the last of this cycle. Most people were expecting one or two more rallies. John Gault has been sitting on a pile of cash preparing for this time when suddenly the world’s income falls close to zero because taxes have become extortion by governments that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies.
ACORN, Black Panthers, terrorists…all the friends of the Obama-Holden Administration, are the examples of the petty greed of Obama-Holden socialists and their viscous, idle following
No Dow Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will begin to get even uglier.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur. Look at 5 years to see where we were and where the Obama-Holden Administration has taken the world. We once had good presidents that inspired good Americans, not just the greedy viscous and idle.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China down –0.1%, Hong Kong down –0.2%, India down -2.2%, Taiwan up 0.1%, Japan up 0.7%.
European markets were down half way through their day, in a range of +0.6% to-1.8% for France and –3.4% for Athens
American market futures are down about –0.6% in after hour trading at 8:30 AM EST
Monday, May 7, 2012
The Obama-Holden Administration’s Great Depression is upon us and John Gault has everyone pulling out on the sidelines with all their cash. Atlas has begun to Shrug.
That is so when income taxes rise there will be no income to report to corrupt socialists but still enough cash for good Americans to live on. If Obama defaults and throws the world into his Great Depression the socialist regimes around the world will fall and there could be chaos. Voter fraud won’t matter any more because there will be no Obama-Holden government to run the fraud. Obama caters to the viscous and idle, the Black Panthers, the ACORN thugs, the Al Quada terrorists that Obama wants to release from prison, FALN, the violent Puerto Rican terrorist group that murdered Wells Fargo employees an bombed other Americans that Eric Holder let loose in 2009.
Who are Obama’s “greedy”? Obama says you are greedy if:
if you go out and work hard and buy your food without food stamps,
if you buy a home without a liar loan and instead of living in subsidized housing, and
if you work hard and study hard and pay off your student loans instead of getting government scholarship for your race not your ability.
Obama thinks it is ok to default and then refuse to release your grades because it shows you are even dumber than Joe Biden and Al gore.
You are defined as one of the people the socialists think are greedy if you will not voluntarily support the viscous and idle who win elections by being bussed to forty different poll locations and voting in the name of people who do not exist but can be registered because there is Obama-Holden voter registration fraud.
The real greedy people are the lazy Obama-Holden people, the viscous and idle thugs who think money grows on trees and you are their money tree. In the past they did not bother to vote. But in Obama’s new America and in Putin’s old Russia they each vote at least 40 times a day.
http://www.youtube.com/watch?v=TkZrMpv0Pss
http://www.youtube.com/watch?v=wefETlCp644
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
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."
What we are seeing in the world today is Atlas is shrugging again. John Gault has spoken and Atlas is getting into assets and cash because when credit collapses the store shelves could be bare as it happened in the USSR, Eastern Europe, China and all Communist countries as recently as 1989-2000. N Korea was the last and they starved about 3 million people.
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe.
Mrs. Merkel's governing coalition suffered at the ballot box yesterday appearing to lose its ruling majority in the state of Schleswig-Holstein. We expect the market will go into free fall and hit a new low lower than in 2011 and possibly back to the Bill Clinton Dot Com collapse that started in 2000 and was topped of with 911.
The Rasmussen Reports daily Presidential Tracking Poll for Sunday shows Mitt Romney earning 47% of the vote and President Obama attracting 46% support. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Stocks tumbled Friday, extending the biggest weekly loss of the year for global equities, after U.S. employers added fewer jobs than forecast and services and manufacturing output in the euro region shrank more than estimated.
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Standard & Poor’s 500 Index fell to its worst week in 2012. Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
The Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Friday
Nonfarm Payrolls Apr 115K down from 120K
Nonfarm Private Payrolls Apr 130K up from 121K
Unemployment Rate Apr 8.1% down from 8.2%
Hourly Earnings Apr 0.0% stagnating 0.2%
Average Workweek Apr 34.5 constant at 34.5
Today
May 7 3:00 PM Consumer Credit Mar
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 7, 2012
We have been predicting this recent rally would be the last of this cycle. Most people were expecting one or two more rallies. John Gault has been sitting on a pile of cash preparing for this time when suddenly the world’s income falls close to zero because taxes have become extortion by governments that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies. This could be a time like when JP Morgan sat on his pile of cash and then bought at the low in 1895 and became the richest man in the world. He was a great philanthropist and his money was put into trusts to help hard working, hard studying people build a better world free of the petty greed of Obama-Holden socialists and their viscous and idle… ACORN, Black Panthers, terrorists…all the friends of the Obama-Holden Administration.
The markets fell back from the upper resistance areas. As expected Friday activity increased and markets declined. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show caution.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is nowhere even near giving hope of a Dow Industrials buy confirmation. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will begin to get even uglier.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur. Look at 5 years to see where we were and where the Obama-Holden Administration has taken the world. We once had good presidents that inspired good Americans, not just the viscous and idle.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China closed, Hong Kong down –2.6%, Ozone India up 0.5%, S Korea –1.6%. Taiwan –2.1%, NewZeland –2.2%, Japan –2.8%.
European markets were down half way through their day, in a range of +0.1% for France to –7.2% for Athens
American market futures are down about –0.43, -0.4% and –0.43 in after hour trading at 8AM EST… clearly being manipulated at this point by all the exchanges.
Who are Obama’s “greedy”? Obama says you are greedy if:
if you go out and work hard and buy your food without food stamps,
if you buy a home without a liar loan and instead of living in subsidized housing, and
if you work hard and study hard and pay off your student loans instead of getting government scholarship for your race not your ability.
Obama thinks it is ok to default and then refuse to release your grades because it shows you are even dumber than Joe Biden and Al gore.
You are defined as one of the people the socialists think are greedy if you will not voluntarily support the viscous and idle who win elections by being bussed to forty different poll locations and voting in the name of people who do not exist but can be registered because there is Obama-Holden voter registration fraud.
The real greedy people are the lazy Obama-Holden people, the viscous and idle thugs who think money grows on trees and you are their money tree. In the past they did not bother to vote. But in Obama’s new America and in Putin’s old Russia they each vote at least 40 times a day.
http://www.youtube.com/watch?v=TkZrMpv0Pss
http://www.youtube.com/watch?v=wefETlCp644
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
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."
What we are seeing in the world today is Atlas is shrugging again. John Gault has spoken and Atlas is getting into assets and cash because when credit collapses the store shelves could be bare as it happened in the USSR, Eastern Europe, China and all Communist countries as recently as 1989-2000. N Korea was the last and they starved about 3 million people.
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe.
Mrs. Merkel's governing coalition suffered at the ballot box yesterday appearing to lose its ruling majority in the state of Schleswig-Holstein. We expect the market will go into free fall and hit a new low lower than in 2011 and possibly back to the Bill Clinton Dot Com collapse that started in 2000 and was topped of with 911.
The Rasmussen Reports daily Presidential Tracking Poll for Sunday shows Mitt Romney earning 47% of the vote and President Obama attracting 46% support. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Stocks tumbled Friday, extending the biggest weekly loss of the year for global equities, after U.S. employers added fewer jobs than forecast and services and manufacturing output in the euro region shrank more than estimated.
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Standard & Poor’s 500 Index fell to its worst week in 2012. Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
The Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Friday
Nonfarm Payrolls Apr 115K down from 120K
Nonfarm Private Payrolls Apr 130K up from 121K
Unemployment Rate Apr 8.1% down from 8.2%
Hourly Earnings Apr 0.0% stagnating 0.2%
Average Workweek Apr 34.5 constant at 34.5
Today
May 7 3:00 PM Consumer Credit Mar
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 7, 2012
We have been predicting this recent rally would be the last of this cycle. Most people were expecting one or two more rallies. John Gault has been sitting on a pile of cash preparing for this time when suddenly the world’s income falls close to zero because taxes have become extortion by governments that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies. This could be a time like when JP Morgan sat on his pile of cash and then bought at the low in 1895 and became the richest man in the world. He was a great philanthropist and his money was put into trusts to help hard working, hard studying people build a better world free of the petty greed of Obama-Holden socialists and their viscous and idle… ACORN, Black Panthers, terrorists…all the friends of the Obama-Holden Administration.
The markets fell back from the upper resistance areas. As expected Friday activity increased and markets declined. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show caution.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is nowhere even near giving hope of a Dow Industrials buy confirmation. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will begin to get even uglier.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur. Look at 5 years to see where we were and where the Obama-Holden Administration has taken the world. We once had good presidents that inspired good Americans, not just the viscous and idle.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China closed, Hong Kong down –2.6%, Ozone India up 0.5%, S Korea –1.6%. Taiwan –2.1%, NewZeland –2.2%, Japan –2.8%.
European markets were down half way through their day, in a range of +0.1% for France to –7.2% for Athens
American market futures are down about –0.43, -0.4% and –0.43 in after hour trading at 8AM EST… clearly being manipulated at this point by all the exchanges.
Friday, May 4, 2012
Pfizer, along with Merck, Amgen Inc., Abbott Laboratories and AstraZeneca Plc are being pulled kicking and scratching into an expanding congressional investigation about the agreement leftist leaning drug dealers reached with the Obama administration to support the overhaul of the U.S. health-care system,
Pfizer, along with Merck, Amgen Inc., Abbott Laboratories and AstraZeneca Plc are being pulled kicking and scratching into an expanding congressional investigation about the agreement leftist leaning drug dealers reached with the Obama administration to support theoverhaul of the U.S. health-care system, according to Bloomberg. The probe began last year, with the House Energy and Commerce Committee seeking documents from an industry trade group. That group is still stonewalling Congress. Congress is now demanding documents and information outlining what the industry agreed to with Barack Obama when socialized medicine was being worked on in Congress.
If they give the owners of the Facebook stock all the current earnings for the next 99 years, new shareholders could get their money back. It is expected that this year will be the third straight year of slowing growth in Facebook revenue. Facebook insiders will soon make a new dump of their stock. The hype surrounding Facebook’s “IPO” has been enormous but questions about the strength of Facebook’s business model and its growth prospects have some analysts concerned about the long-term viability of the stock. The new “IPO” model is a quiet sale to powerful marketing insiders who then pump up the stock behind smoke and mirrors. When the price is right the insiders do another stock dump and call it another “IPO”. The real question is weather Facebook has a real business model or is pumping and dumping the sorry stock… the actual business model. We think Facebook will survive the dumping but it could be a penny stock if they continue to get away with what they are doing to their Facebook “Muppet Investors”.
http://www.bloomberg.com/news/2012-05-04/facebook-at-99-times-profit-exceeds-99-of-s-p-500-index-tech.html
First Solar Inc., the world’s largest maker of thin-film solar panels, fell to a record low after reporting a $401 million restructuring charge yesterday related to firing 30 percent of its workforce.
A president’s Job Approval rating is one of the best indicators for assessing his chances of reelection. Typically, the president’s Job Approval rating on Election Day will be close to the share of the vote he receives. Currently, 49% of voters say they at least somewhat approve of the president's job performance. Forty-nine percent (49%) at least somewhat disapprove.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Stocks tumbled, extending the biggest weekly loss of the year for global equities, after U.S. employers added fewer jobs than forecast and services and manufacturing output in the euro region shrank more than estimated.
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
The MSCI Emerging Markets Index (MXEF) dropped 0.4 percent to 1,019.82 as of 11:58 a.m. in London. The gauge has risen less than 0.1 percent this week, following a run of six straight weekly declines. The BSE India Sensitive Index (SENSEX), or Sensex, sank 1.9 percent, the most in Asia, as the rupee slid as much as 1 percent. The Micex Index tumbled 2.7 percent in Moscow as oil retreated.
See: http://www.bloomberg.com/news/2012-05-04/emerging-stocks-pare-weekly-advance-on-global-economy-concern.html
The main fear now is that the Socialists will win in France this weekend. The euro weakened for a fifth day against the dollar after a European report showed the region’s manufacturing and services industries shrank in April more than economists predicted. The 17-nation currency extended its daily losing streak as France and Greece prepared to lose elections this weekend to socialists, creating fear the worst is yet to come.
The Spain sold 3yr bonds at a yield of 4.04%, up sharply from the 2.62% in the previous sale. Spain also sold five-year bonds, at an average yield of 4.75% up from a yield of 3.57% in the previous sale. These are 30% to 40% increases in the cost of replacing Spanish debt as it matures.
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Standard & Poor’s 500 Index fell to its worst week in 2012. Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
This Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Yesterday
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Friday
Nonfarm Payrolls Apr 115K down from 120K
Nonfarm Private Payrolls Apr 130K up from 121K
Unemployment Rate Apr 8.1% down from 8.2%
Hourly Earnings Apr 0.0% stagnating 0.2%
Average Workweek Apr 34.5 constant at 34.5
Market outlook May 4, 2012
The markets are within striking distance of upper resistance areas. A big move is expected Friday and options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution. It seems everyone thinks the move will be up and that means complacency. It could be Obama leftist euphoria seeing his job rating is recovering a few points this week. It is scary how leftist the investors have become.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is about 3% more to even give hope of a Dow Rail and Industrial buy confirmation. It now needs to rise another 6% to actually give a DOW Industrials + Rails buy signal. This market extremely weak. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming in the Rails too.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The NYSE indicates we are 7.5% below what is required for a buy signal. On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The VIX shows extreme and dangerous complacency. A sharp computer sell-off could end the current rally any day now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 0.5%, Hong Kong down –0.8%, India down –1.9%, S Korea –0.3%. NewZeland –0.8%, Japan closed.
European markets were down half way through their day, in a range of 0.4% to -1.8%
American market futures are down about 0.1% in after hour trading at 7AM EST.
If they give the owners of the Facebook stock all the current earnings for the next 99 years, new shareholders could get their money back. It is expected that this year will be the third straight year of slowing growth in Facebook revenue. Facebook insiders will soon make a new dump of their stock. The hype surrounding Facebook’s “IPO” has been enormous but questions about the strength of Facebook’s business model and its growth prospects have some analysts concerned about the long-term viability of the stock. The new “IPO” model is a quiet sale to powerful marketing insiders who then pump up the stock behind smoke and mirrors. When the price is right the insiders do another stock dump and call it another “IPO”. The real question is weather Facebook has a real business model or is pumping and dumping the sorry stock… the actual business model. We think Facebook will survive the dumping but it could be a penny stock if they continue to get away with what they are doing to their Facebook “Muppet Investors”.
http://www.bloomberg.com/news/2012-05-04/facebook-at-99-times-profit-exceeds-99-of-s-p-500-index-tech.html
First Solar Inc., the world’s largest maker of thin-film solar panels, fell to a record low after reporting a $401 million restructuring charge yesterday related to firing 30 percent of its workforce.
A president’s Job Approval rating is one of the best indicators for assessing his chances of reelection. Typically, the president’s Job Approval rating on Election Day will be close to the share of the vote he receives. Currently, 49% of voters say they at least somewhat approve of the president's job performance. Forty-nine percent (49%) at least somewhat disapprove.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Stocks tumbled, extending the biggest weekly loss of the year for global equities, after U.S. employers added fewer jobs than forecast and services and manufacturing output in the euro region shrank more than estimated.
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
The MSCI Emerging Markets Index (MXEF) dropped 0.4 percent to 1,019.82 as of 11:58 a.m. in London. The gauge has risen less than 0.1 percent this week, following a run of six straight weekly declines. The BSE India Sensitive Index (SENSEX), or Sensex, sank 1.9 percent, the most in Asia, as the rupee slid as much as 1 percent. The Micex Index tumbled 2.7 percent in Moscow as oil retreated.
See: http://www.bloomberg.com/news/2012-05-04/emerging-stocks-pare-weekly-advance-on-global-economy-concern.html
The main fear now is that the Socialists will win in France this weekend. The euro weakened for a fifth day against the dollar after a European report showed the region’s manufacturing and services industries shrank in April more than economists predicted. The 17-nation currency extended its daily losing streak as France and Greece prepared to lose elections this weekend to socialists, creating fear the worst is yet to come.
The Spain sold 3yr bonds at a yield of 4.04%, up sharply from the 2.62% in the previous sale. Spain also sold five-year bonds, at an average yield of 4.75% up from a yield of 3.57% in the previous sale. These are 30% to 40% increases in the cost of replacing Spanish debt as it matures.
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Standard & Poor’s 500 Index fell to its worst week in 2012. Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
This Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Yesterday
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Friday
Nonfarm Payrolls Apr 115K down from 120K
Nonfarm Private Payrolls Apr 130K up from 121K
Unemployment Rate Apr 8.1% down from 8.2%
Hourly Earnings Apr 0.0% stagnating 0.2%
Average Workweek Apr 34.5 constant at 34.5
Market outlook May 4, 2012
The markets are within striking distance of upper resistance areas. A big move is expected Friday and options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution. It seems everyone thinks the move will be up and that means complacency. It could be Obama leftist euphoria seeing his job rating is recovering a few points this week. It is scary how leftist the investors have become.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is about 3% more to even give hope of a Dow Rail and Industrial buy confirmation. It now needs to rise another 6% to actually give a DOW Industrials + Rails buy signal. This market extremely weak. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming in the Rails too.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The NYSE indicates we are 7.5% below what is required for a buy signal. On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The VIX shows extreme and dangerous complacency. A sharp computer sell-off could end the current rally any day now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 0.5%, Hong Kong down –0.8%, India down –1.9%, S Korea –0.3%. NewZeland –0.8%, Japan closed.
European markets were down half way through their day, in a range of 0.4% to -1.8%
American market futures are down about 0.1% in after hour trading at 7AM EST.
Facebook insiders will soon make a new dump of their stock. The hype surrounding Facebook’s “IPO” has been enormous but questions about the strength of Facebook’s business model and its growth prospects have some analysts concerned about the long-term viability of the stock.
Facebook insiders will soon make a new dump of their stock. The hype surrounding Facebook’s “IPO” has been enormous but questions about the strength of Facebook’s business model and its growth prospects have some analysts concerned about the long-term viability of the stock. The new “IPO” model is a quiet sale to powerful marketing insiders who then pump up the stock behind smoke and mirrors. When the price is right the insiders do another stock dump and call it another “IPO”. The real question is weather Facebook has a real business model or is pumping and dumping the sorry stock… the actual business model. We think Facebook will survive the dumping but it could be a penny stock if they continue to get away with what they are doing to their Facebook “Muppet Investors”.
The growth in jobs this past winter is said to be due to the clean-up of the Fall storms, the returned growth to clean-up of the BP oil spill, and the beautiful mild winter which helped bring back much of the South and especially Florida. Many argue that that growth has ended and the FED is ending their manipulation of debt interest rates because they mistakenly think the economy is stronger. If the improved situation is nothing but Obama taking credit again for things he has not done, the FED action would throw America into a recession the way England did last year. Yesterday the employment guru John Challenger said, ”Even at its best, job creation is falling well short of what is needed to make a substantial dent in unemployment.”
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is about 3% more to even give hope of a Dow Rail and Industrial buy confirmation. It now needs to rise another 6% to actually give a DOW Industrials + Rails buy signal. This market extremely weak.
The Rasmussen Reports daily Presidential Tracking Poll for Thursday showed President Obama earning 47% of the vote and Mitt Romney attracting 45%. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided. This has freedom loving Americans worried about the Obama Depression and how the Marxists depend on economic chaos to by executive order take control of governments. That happened in Italy last year when they installed a University Economics socialist professor to stifle the Italian socialists.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
The MSCI Emerging Markets Index (MXEF) dropped 0.4 percent to 1,019.82 as of 11:58 a.m. in London. The gauge has risen less than 0.1 percent this week, following a run of six straight weekly declines. The BSE India Sensitive Index (SENSEX), or Sensex, sank 1.9 percent, the most in Asia, as the rupee slid as much as 1 percent. The Micex Index tumbled 2.7 percent in Moscow as oil retreated.
See: http://www.bloomberg.com/news/2012-05-04/emerging-stocks-pare-weekly-advance-on-global-economy-concern.html
The main fear now is that the Socialists will win in France this weekend. The euro weakened for a fifth day against the dollar after a European report showed the region’s manufacturing and services industries shrank in April more than economists predicted. The 17-nation currency extended its daily losing streak as France and Greece prepared to lose elections this weekend to socialists, creating fear the worst is yet to come.
The Spain sold 3yr bonds at a yield of 4.04%, up sharply from the 2.62% in the previous sale. Spain also sold five-year bonds, at an average yield of 4.75% up from a yield of 3.57% in the previous sale. These are 30% to 40% increases in the cost of replacing Spanish debt as it matures.
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
This Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Yesterday
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Today
May 4 8:30 AM Nonfarm Payrolls Apr
May 4 8:30 AM Nonfarm Private Payrolls Apr
May 4 8:30 AM Unemployment Rate Apr
May 4 8:30 AM Hourly Earnings Apr
May 4 8:30 AM Average Workweek Apr
Market outlook May 4, 2012
The markets are within striking distance of upper resistance areas. A big move is expected Friday and options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution. It seems everyone thinks the move will be up and that means complacency. It could be Obama leftist euphoria seeing his job rating is recovering a few points this week. It is scary how leftist the investors have become.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is about 3% more to even give hope of a Dow Rail and Industrial buy confirmation. It now needs to rise another 6% to actually give a DOW Industrials + Rails buy signal. This market extremely weak. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming in the Rails too.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The NYSE indicates we are 7.5% below what is required for a buy signal. On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The VIX shows extreme and dangerous complacency. A sharp computer sell-off could end the current rally any day now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 0.5%, Hong Kong down –0.8%, India down –1.9%, S Korea –0.3%. NewZeland –0.8%, Japan closed.
European markets were down half way through their day, in a range of 0.4% to -1.8%
American market futures are down about 0.1% in after hour trading at 7AM EST.
Thursday, May 3, 2012
The DOW Rails rose sharply yesterday and needs to still rise about 2% more to even give hope of a Dow Rail and Industrial buy confirmation. It needs to rise another 5% to actually give a DOW buy signal.
World market this week
Edvard Munch's famous painting “The Scream” went for a scary $119,922,500 at a Sotheby's auction. It's a record for a work of art sold at auction.
The Spain sold 3yr bonds at a yield of 4.04%, up sharply from the 2.62% in the previous sale. Spain also sold five-year bonds, at an average yield of 4.75% up from a yield of 3.57% in the previous sale. These are 30% to 40% increases in the cost of replacing Spanish debt as it matures
France’s presidential election descended into an exchange of insults and accusations. The worst is expected in August again when the Europeans are on vacation and there is no one to respond to crisis. Hollande is expected to win in France and nothing he has proposed has ever worked anywhere in the world before, so France is expected to decline economically.
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold again there. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
Yesterday
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Today
May 3 7:30 AM Challenger Job Cuts Apr
May 3 8:30 AM Initial Claims 04/28
May 3 8:30 AM Continuing Claims 04/21
May 3 8:30 AM Productivity-Prel Q1
May 3 8:30 AM Unit Labor Costs Q1
May 3 10:00 AM ISM Services Apr-
This Week
May 4 8:30 AM Nonfarm Payrolls Apr
May 4 8:30 AM Nonfarm Private Payrolls Apr
May 4 8:30 AM Unemployment Rate Apr
May 4 8:30 AM Hourly Earnings Apr
May 4 8:30 AM Average Workweek Apr
Market outlook May 3, 2012
The markets are within striking distance of upper resistance areas. A big move is expected Friday and options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution. It seems everyone thinks the move will be up and that means complacency. It could be Obama leftist euphoria seeing his job rating is recovering a few points this week. It is scary how leftist the investors have become.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
The DOW Rails rose sharply yesterday and needs to still rise about 2% more to even give hope of a Dow Rail and Industrial buy confirmation. It needs to rise another 5% to actually give a DOW buy signal. No confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming in the Rails too.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The NYSE indicates we are 7% below what is required for a buy signal. On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
The VIX shows extreme complacency. A sharp computer sell-off could end the current rally any moment now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. This is a sign that China’s recovery is stalling. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were lower last night. China up 0.1%, Hong Kong down –0.3%, India down –0.9%, Taiwan –0.2%. Japan closed.
European markets were up half way through their day, in a range of -0.4% to +1.3%
American market futures are up about 0.2% in after hour trading at 7AM EST.
Wednesday, May 2, 2012
Shame on Obama! He steals the credit for the Bin Laden hunt from the American warriors who tracked Osama down.
Shame on Obama! He steals the credit for the Bin Laden hunt from the American warriors who tracked Osama down. He did it in a political commercial as he cuts the medical programs of the warriors and lays them off. In contrast President Bush took the credit for the Saddam Hussein hunt to the warriors packed on a USA carrier.
Obama is a selfish uncompassionate baggard and fool, and he embarrasses Americans with his nastiness. His Occupation Wall Street May Day supporters were caught planning to blow up an Ohio bridge and kill Americans. Five people “associated with Occupy Cleveland” were arrested in a FBI sting operation for requesting explosives intending to bomb the Ohio bridge.
http://www.businessweek.com/news/2012-05-01/five-men-arrested-in-fbi-sting-over-plot-to-bomb-bridge-in-ohio
Obama’s construction report yesterday was manipulated again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site to see how he moved -0.3% of this month’s bad news back to last month after he reported last month. Again the big “Obama lie” is the manipulation and then the comparison of apples and oranges, one old figure manipulated to be worse and the new number inconsistent with the old to make it look improving.
http://biz.yahoo.com/c/e.html
Pfizer said its first-quarter profit plunged as expected on generic competition to its blockbuster cholesterol drug Lipitor.
Apple clearly bungled the Java security patch, placing Mac users at risk in the process. This isn’t the first time Apple has failed to patch a known security issue in a timely fashion, and it reveals a major weakness in the company’s security program. Mac OS X, like other operating systems, relies heavily on third-party components since Apple doesn’t necessarily control the code. Apple is reliant on the software’s developers to manage any security vulnerabilities that come up.
The New York Times reported:
The complaints come from Apple consumers … who say that their accounts have been hijacked or that some apps are falsely advertised. And they come from creators of apps, who say they are having to deal with fraudulent purchases that drain their time and resources. It took Apple 75 days to respond to a hole in Open SSL -- the open-source encryption system that is supposed to protect credit card data from getting loose on the Internet -- even though the vulnerability was made public last September.
Apple’s stock price will likely crumble over the next two quarters. Apple had its best quarter last year and this latest great quarter is hype because it comes from analysts not comparing this “product introductory quarter” with the introduction quarter last year. If they did a valid comparison they would see Apple profits peaked last year and their latest product is not doing as well as last year’s new product. The only quarters when apple does well are the ones when a new product is introduced. There is nothing planned the next two quarters. China is also challenging Apple for the use of the name iPad. It seems Apple got the right to use the name from a Taiwan subsidiary and not from the mainland China headquarters. If Apple gave a dividend equal to its total pot of cash it would only be $30/share or 4% and it would all be gone. At current prices any Apple dividend would be too small to matter. Apple has lost its creator for the final time and each time that has happened Apple has plunged 80% or more starting as soon as investors saw the paltry progress they made without Steve Jobs. Steve Jobs can never rescue Apple again!
At the BlackBerry World expo in Orlando, Florida, RIM showed off a sleek touch-screen device that more closely resembled Samsung smartphone than the keypad-equipped BlackBerrys of old. Samsung just overtook Apple as No. 1 Smartphone Maker in the 1st Quarter. Samsung sold more than 7 million more smartphone units than Apple during the first three months of 2012, landing it the top spot in the worldwide market race. Apple is testing stock market lows since it peaked on March 9.
http://business.blogs.cnn.com/2012/04/27/samsung-overtakes-apple-nokia-in-phone-sales/?hpt=hp_mid
Obama claims America failed. Some times he blames his Obama depression on Bush and sometimes he blames it on free enterprise. Obama, is a poor person when it comes to his thinking. He cannot take responsibility for his stupidity. It is always someone else’s fault.
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney and President Obama each earning 46% of the vote each. Four percent (4%) would vote for a third party candidate, while another four percent (4%) are undecided. Sixty-eight percent (68%) see the president as politically liberal, while 60% see Romney as politically conservative.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
Spain slipped deeper into a recession, dimming the outlook for the region’s exporters GDP contracted -0.3% even ignoring the amount hidden by inflation.
Fear is that Italy will soon join Spain in the crisis of European Socialism.
Rupert Murdoch is “not a fit person” to lead a major international company, U.K. lawmakers said, after his U.K. unit misled Parliament about the extent of phone hacking at its News of the World tabloid.
The real growth rate in the USA decline in the last quarter from 2.1% to just 0.7% clearly another Obama no-brainer. The USA cannot rescue the world until Obama socialism is no longer a threat to the world.
Standard & Poor’s cut Spain’s sovereign debt rating two levels to BBB+ last week from A. Italy’s short term borrowing costs jumped 58% (1.772, up from 1.119 percent interest) at the sale of 8.5 billion euros ($11.3 billion) of six-month bills as renewed concern about the spread of the region’s debt crisis forced the Treasury to offer higher rates to attract investors.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
Yesterday
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
Today
May 2 7:00 AM MBA Mortgage Index 04/28
May 2 8:15 AM ADP Employment Change Apr
May 2 10:00 AM Factory Orders Mar - -2.5%
May 2 10:30 AM Crude Inventories 04/28
This Week
May 3 7:30 AM Challenger Job Cuts Apr
May 3 8:30 AM Initial Claims 04/28
May 3 8:30 AM Continuing Claims 04/21
May 3 8:30 AM Productivity-Prel Q1
May 3 8:30 AM Unit Labor Costs Q1
May 3 10:00 AM ISM Services Apr-
May 4 8:30 AM Nonfarm Payrolls Apr
May 4 8:30 AM Nonfarm Private Payrolls Apr
May 4 8:30 AM Unemployment Rate Apr
May 4 8:30 AM Hourly Earnings Apr
May 4 8:30 AM Average Workweek Apr
Market outlook May 2, 2012
A big move is expected Friday on options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
No DOW Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is looking like a head and shoulder sell signal forming in the Rails too. We are a few days away from a complete breakdown of the market.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
A sharp computer sell-off could end the current rally any moment now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. This is a sign that China’s recovery is stalling. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Mainland Chinese markets were higher last night making up for the Asian markets being closed while the rest of the world re-tested but failed to make new highs. China up 1.7%, Hong Kong up 1%, India unchanged, Japan up 0.3%%
European markets were mixed half way through their day, in a range of -1% to +2%
American market futures are down about –0.2% in after hour trading at 7AM EST.
Obama is a selfish uncompassionate baggard and fool, and he embarrasses Americans with his nastiness. His Occupation Wall Street May Day supporters were caught planning to blow up an Ohio bridge and kill Americans. Five people “associated with Occupy Cleveland” were arrested in a FBI sting operation for requesting explosives intending to bomb the Ohio bridge.
http://www.businessweek.com/news/2012-05-01/five-men-arrested-in-fbi-sting-over-plot-to-bomb-bridge-in-ohio
Obama’s construction report yesterday was manipulated again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site to see how he moved -0.3% of this month’s bad news back to last month after he reported last month. Again the big “Obama lie” is the manipulation and then the comparison of apples and oranges, one old figure manipulated to be worse and the new number inconsistent with the old to make it look improving.
http://biz.yahoo.com/c/e.html
Pfizer said its first-quarter profit plunged as expected on generic competition to its blockbuster cholesterol drug Lipitor.
Apple clearly bungled the Java security patch, placing Mac users at risk in the process. This isn’t the first time Apple has failed to patch a known security issue in a timely fashion, and it reveals a major weakness in the company’s security program. Mac OS X, like other operating systems, relies heavily on third-party components since Apple doesn’t necessarily control the code. Apple is reliant on the software’s developers to manage any security vulnerabilities that come up.
The New York Times reported:
The complaints come from Apple consumers … who say that their accounts have been hijacked or that some apps are falsely advertised. And they come from creators of apps, who say they are having to deal with fraudulent purchases that drain their time and resources. It took Apple 75 days to respond to a hole in Open SSL -- the open-source encryption system that is supposed to protect credit card data from getting loose on the Internet -- even though the vulnerability was made public last September.
Apple’s stock price will likely crumble over the next two quarters. Apple had its best quarter last year and this latest great quarter is hype because it comes from analysts not comparing this “product introductory quarter” with the introduction quarter last year. If they did a valid comparison they would see Apple profits peaked last year and their latest product is not doing as well as last year’s new product. The only quarters when apple does well are the ones when a new product is introduced. There is nothing planned the next two quarters. China is also challenging Apple for the use of the name iPad. It seems Apple got the right to use the name from a Taiwan subsidiary and not from the mainland China headquarters. If Apple gave a dividend equal to its total pot of cash it would only be $30/share or 4% and it would all be gone. At current prices any Apple dividend would be too small to matter. Apple has lost its creator for the final time and each time that has happened Apple has plunged 80% or more starting as soon as investors saw the paltry progress they made without Steve Jobs. Steve Jobs can never rescue Apple again!
At the BlackBerry World expo in Orlando, Florida, RIM showed off a sleek touch-screen device that more closely resembled Samsung smartphone than the keypad-equipped BlackBerrys of old. Samsung just overtook Apple as No. 1 Smartphone Maker in the 1st Quarter. Samsung sold more than 7 million more smartphone units than Apple during the first three months of 2012, landing it the top spot in the worldwide market race. Apple is testing stock market lows since it peaked on March 9.
http://business.blogs.cnn.com/2012/04/27/samsung-overtakes-apple-nokia-in-phone-sales/?hpt=hp_mid
Obama claims America failed. Some times he blames his Obama depression on Bush and sometimes he blames it on free enterprise. Obama, is a poor person when it comes to his thinking. He cannot take responsibility for his stupidity. It is always someone else’s fault.
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney and President Obama each earning 46% of the vote each. Four percent (4%) would vote for a third party candidate, while another four percent (4%) are undecided. Sixty-eight percent (68%) see the president as politically liberal, while 60% see Romney as politically conservative.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Euro-region unemployment rose to the highest in almost 15 years and manufacturing contracted for a ninth month running, adding to the fear the Obama Depression has taken hold. Michael Hewson, an analyst at CMC Markets, said the figures are "likely to prompt further calls from EU leaders affected by rising unemployment to call for an easing of austerity, from EU leaders and Berlin is particular." However, he added this will likely be resisted by the people of Germany, "conscious of the fact that the worst of the crisis appears to be staying outside their borders for now."
Spain slipped deeper into a recession, dimming the outlook for the region’s exporters GDP contracted -0.3% even ignoring the amount hidden by inflation.
Fear is that Italy will soon join Spain in the crisis of European Socialism.
Rupert Murdoch is “not a fit person” to lead a major international company, U.K. lawmakers said, after his U.K. unit misled Parliament about the extent of phone hacking at its News of the World tabloid.
The real growth rate in the USA decline in the last quarter from 2.1% to just 0.7% clearly another Obama no-brainer. The USA cannot rescue the world until Obama socialism is no longer a threat to the world.
Standard & Poor’s cut Spain’s sovereign debt rating two levels to BBB+ last week from A. Italy’s short term borrowing costs jumped 58% (1.772, up from 1.119 percent interest) at the sale of 8.5 billion euros ($11.3 billion) of six-month bills as renewed concern about the spread of the region’s debt crisis forced the Treasury to offer higher rates to attract investors.
China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.
http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.
http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;
American Economy
Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
Yesterday
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
Today
May 2 7:00 AM MBA Mortgage Index 04/28
May 2 8:15 AM ADP Employment Change Apr
May 2 10:00 AM Factory Orders Mar - -2.5%
May 2 10:30 AM Crude Inventories 04/28
This Week
May 3 7:30 AM Challenger Job Cuts Apr
May 3 8:30 AM Initial Claims 04/28
May 3 8:30 AM Continuing Claims 04/21
May 3 8:30 AM Productivity-Prel Q1
May 3 8:30 AM Unit Labor Costs Q1
May 3 10:00 AM ISM Services Apr-
May 4 8:30 AM Nonfarm Payrolls Apr
May 4 8:30 AM Nonfarm Private Payrolls Apr
May 4 8:30 AM Unemployment Rate Apr
May 4 8:30 AM Hourly Earnings Apr
May 4 8:30 AM Average Workweek Apr
Market outlook May 2, 2012
A big move is expected Friday on options activity is high. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show some caution.
If the broad market is doing so well why are we still a few percent below the high of a year ago and a lot below 2007? Why is the broad market still lower today than in 2000? Why is the real USA GDP annual rate this latest quarter only 0.7% now down significantly from its 2.1% annual rate the last quarter?
Speculation in HD, IBM, INTC, KFT, MCD, PFE, WMT stocks appears responsible for the distortion seen in the DJI. Apple rose 30% but earnings peaked last year. If it is a good buy, how come Apple had a higher quarter last year when the price was 30% lower? Apple is not a component of the DJI else the DJI would be in real trouble.
No DOW Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is looking like a head and shoulder sell signal forming in the Rails too. We are a few days away from a complete breakdown of the market.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
A sharp computer sell-off could end the current rally any moment now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. This is a sign that China’s recovery is stalling. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Mainland Chinese markets were higher last night making up for the Asian markets being closed while the rest of the world re-tested but failed to make new highs. China up 1.7%, Hong Kong up 1%, India unchanged, Japan up 0.3%%
European markets were mixed half way through their day, in a range of -1% to +2%
American market futures are down about –0.2% in after hour trading at 7AM EST.
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