The WSJ said today that TARP was not a success. The banks used Obama’s 2010 Jobs Bill money to pay back the TARP money. The success of the Obama TARP payback was just another Obama staged illusion. The jobs bills turned out to be Obama bank liquidity and bailout bills, and slush funds for Obama corruption and vote buying. Obama hasn’t a clue. Government is nothing but a wealth redistribution agent. It only transfers jobs and wealth from taxpayers to the politicians favored programs. Job creation can only work when small businesses know that the idiots in Washington have taken their hands out of their pockets and have stopped their regulation profit killing frenzy.
Romney now looks like the Republican candidate. Among other things Wall Street Week credits him with cleaning up the Boston harbor. While in 2003 he supported emission caps for decrepit filthy coal fired plants, in 2005 he made it clear that he did not support a climate change agreement based on “leftist environmental theology.” Over 31000 scientists have joined Edward Teller in signing a petition denying man-made global warming. See
http://en.wikipedia.org/wiki/Edward_Teller
and
http://www.oism.org/pproject/pproject.htm#41
As Greece struggles to avoid a catastrophic default, government “worker pretender unions” in Athens shut down all transportation, tourism, local police security, and commerce and put Greece on the Brink. Powerful Greek unions have exercised their unique state and federal socialist unionization rights and have closed the whole country down. American cruises and tourists once again find themselves stranded in a lawless barbaric stone-age country. In Germany and France there are “pretenders to the crown”. In Greece there are “government pretenders to work.” Obama supporters are now taking to the streets venting hatred of the American financial system that ideally rewards only people with a work ethic so the country does not become like Greece.
Greek unionized socialist parasites don their black masks again to stone people and set fires again to protest the possibility they might have to actually work for a living. The sooner the EU ejects Greece, the sooner world market stability will return. Can you imagine how bad it would be today if the if the zombie fundamentalist who now run the Turkish theocracy had been allowed membership in the EU? They would have used their freedom of movement to invade and occupy Europe with their unemployable zombie population by now. In their backward countries they do not have 15% unemployment they only have 15% employed with meaningful jobs. Terrorism is a product of their backward and suicidal belief system. The Middle East has become an Israeli island in a land of the “living dead.”
World markets
We were right yesterday. Obama/MSNBC/Pravda said yesterday that the sky is falling so that meant it was time to buy equities again because those leftists are full of something, and that something isn’t smarts.
Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter quickly before it goes back up!
American Economy
Last week summary
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
The week so far
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
Factory Orders for Aug were down -0.2% after being up 2.4% in July. Not good.
Yesterday
MBA Mortgage Index 10/01 -4.3% after being up +9.3% last month. Not good
Challenger Job Cuts Sept is an indicator of the weakness of the labor market. now 211.5% up from 47.0% last month. Not good
ADP Employment Change Sep 91K the same as last month. Not bad
ISM Services strength Sep was 53.0 down slightly from 53.3 last month. Not good
Crude Inventories 10/01fell sharply -4.679M from 1.915M last week indicating prices will rise again. Not good
This week
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Market Outlook October 6 2011
StreetSmartPost seems to have called this a bear market already. http://www.streetsmartpost.com/
Our indicators indicate that almost all the cash that flowed out the past two weeks came back in after Bernanke’s last speech. The neckline resistance withheld that latest onslaught and the market advanced on strong volume again yesterday. Pressure has shifted for short sellers to cover their short positions. We expect we will see weaker shorted stock pop-ups to highs and then fall back. That is why it is wise to get out when a stock pops because that quick high could take months to be hit again and you can get back later or into a better opportunity.
We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The Obama leftist corruption and squandering is done to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.” Obama is going to a $25000/plate diner put on by the president of Solyndra, the Solar Panel company that Obama gave $535million of our taxes to and then it declared bankruptcy.
We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. and See: http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Congress needs to fight Obama and stop the high deficit spending that amounts now to leftist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up sharply last night. China closed, Hong Kong up 5.7%, India closed, Taiwan up 2%, and Japan up 1.7%.
European markets are up again today in a range 1% to 2% half way through their day.
American market futures are up 0.4% to 0.7% at 8AM EST. US market futures rarely have any predictive accuracy.
Thursday, October 6, 2011
Wednesday, October 5, 2011
Greek unionized socialist parasites don their black masks again to stone people and set fires to protest the possibility they might have to work.
Greek unionized socialist parasites don their black masks again to stone people and set fires again to protest the possibility they might have to actually work for a living. The sooner the EU ejects Greece, the sooner world market stability will return. Can you imagine how bad it would be today if the if the zombie fundamentalist who now run the Turkish theocracy had been allowed membership in the EU? They would have used their freedom of movement to invade and occupy Europe with their unemployable zombie population by now. In their backward countries they do not have 15% unemployment they only have 15% employed with meaningful jobs. Terrorism is a product of their backward and suicidal belief system. The Middle East has become an Israeli island in a land of the “living dead.”
Federal Reserve Chairman Ben S. Bernanke said the central bank will take further steps to sustain the recovery that’s “close to faltering” and warned Congress against deficit cutting at this point in time. Europe’s sovereign-debt crisis poses risks to growth already weak from housing and joblessness, the Fed chief said. “We need to make sure that the recovery continues and doesn’t drop back and that the unemployment rate continues to fall downward.” The Fed will give more information about its pledge to keep interest rates low at least through mid-2013, reduce the rate paid on banks’ reserve deposits or buy more securities. The central bank has kept that rate near zero since 2008 and purchased $2.3 trillion of housing and government debt.
.
“A second important objective is to avoid fiscal actions that could impede the ongoing economic recovery,” Bernanke said. “Putting in place a credible plan for reducing future deficits over the longer term does not preclude attending to the implications of fiscal choices for the recovery in the near term,” he said, without being more specific. Bernanke said the central bank has no immediate plans but the Fed doesn’t take “anything off the table.”
The economy expanded at a 1.3 percent annual pace in the second quarter after a 0.4 percent rate in the first three months of the year, according to the Commerce Department.
The American Mass media is a Nazi-commi-socialist-effite snob propaganda machine that would make Joseph Goebbels and Josef Mengele proud that their life’s work to perfect elite government physical and psychological control is alive and stronger than ever. Americans are beginning to realize that the elections of 2012 may be the last hope of saving America and therefore the rest of the world from totalitarianism, terror, and mass genocide of the same people who always get slaughtered. The ones who always get slaughtered are the very ones who want big government the most… the stupid, lazy, unemployable, and the mentally or physically ill. Big government always wants to perfect the human race with rules and regulations so the smart people (to survive) realize they must submit like sheep to avoid the slaughter. And then the government begins the elimination of all the people who make the cost on socialized medicine and welfare so high. They are the sick, stupid and unemployable. Over and over again since ancient Greece people simply disappeared. Peoples under many dictatorships, not just Stalin and Hitler were taken to public institutions and never heard from again. The stupid leftists are not dumb. The stupid people are the leftists who think they are smart and have an angle and can profit from totalitarianism. They are people like MSNBC propagandists who think big government is the solution until they discover that the next Hitler or Stalin makes their extermination the government’s official permanent solution. The people clamoring today for big government to take control of their lives may discover that they could get their wish. If so they will be hated by everyone who wants to save America’s human liberties, human compassion, and free enterprise. The ones who want faceless government welfare to replace individual compassion and charity will discover that faceless government has put them first in line for the ovens built for the next holocaust. They will be despised because they betrayed humanity by first siding with totalitarianism against liberty and no one will dare try to rescue them except a few freedom loving compassionate people working secretly and risking their lives to save one or two of the people all dictators just love to hate. History has shown that the leftist ethnic groups with the most leadership in early socialist revolutions in Russia and Europe were hated by the people they betrayed who suffered as a result. The early leftists were later slaughtered by the socialists both in Europe and Russia. The lazy and ignorant tend to vote for leftists and for welfare societies. When the ignorant leftists get the cradle to grave welfare government they craved for, they suddenly discover the time between their cradle and their grave becomes very short.
Leftists don’t like those income tax deductions for charity organizations. They don’t want to pay taxes and often get caught when they cheat. They say that the government should do the charity, and they point out that taxes under communism do not exist because it is all the government’s money and communists give you only what you need. In reality they feel no compassion for the needy and tend to be the most stingy and penny grubbing people you ever meet often living beyond their means, continually scamming the system with law suits, defaults, and fraud. And when the Nazi and Stalinists take over they look for the plum jobs as commissars where they can skim money and privileges. They pretend they care for the needy and in the end they become despised within the socialist viscous mediocracy. The people can only liberate themselves after the socialist viscous mediocracy turns on itself and destroys the liberals who profited from totalitarianism. That took 50 years for Russia with America free. If America becomes a socialist state it could take hundreds of years to end the totalitarianism next time.
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
We were right yesterday. Obama/MSNBC/Pravda said yesterday that the sky is falling so that meant it was time to buy equities again because those leftists are full of something, and that something isn’t smarts.
Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter!
Silver and gold have lost their luster. Europe is only starting to realize that deflation is the world problem not inflation. Gold and silver are headed down to pre-rally levels.
Germany muddles on as the leader of Europe muddling.
Leftist George Soros lost a fortune yesterday shorting equities hoping for a disaster so the markets would plunge. Instead there was a tremendous inflow of investment capital and George took a bath. George Soros is reducing his contributions to the Obama campaign. He is buying banks now and is trying to get Warren Buffett interested as well. We expect another world wide bull market now that the lows of last year held. A bull market could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. Yes, George Soros has destabilized European markets so much that banks are now so low they are bargains. I mean American banks that have little EU sovereign debt.
American Economy
Last week summary
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
The week so far
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
Yesterday
Factory Orders for Aug were down -0.2% after being up 2.4% in July.
This week
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing industry is now improving.
Market Outlook October 5 2011
Our indicators indicate that almost all the cash that flowed out the past two weeks came back in after Bernanke’s speech. The neckline resistance withheld that latest onslaught.
Today was a tumultuous day for all the world markets. The Standard & Poor’s 500 Index fell 1.8 percent before the Bernanke speech and then rose ending up 2.25% for the day after Bernanke spoke and Europe. That was a 4% swing at the end of the day.
We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The good news is there is still time and the economy still can recover in spite of leftist corruption and squandering to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.” Obama is going to a $25000/plate diner put on by the president of Solyndra, the Solar Panel company that Obama gave $535million of our taxes to and then it declared bankruptcy.
The trading range of equities tested the resistance levels of 2010 and they held yet again. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. and See: http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade that seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China closed Hong Kong closed, India down –0.5%, Taiwan down -0.8%, and Japan down –0.9%.
European markets are up today in a range 0.9% to 3.7% half way through their day.
.
American market futures are mixed –0.4% to +0.1% at 7:30AM EST. US market futures rarely have any predictive accuracy.
Federal Reserve Chairman Ben S. Bernanke said the central bank will take further steps to sustain the recovery that’s “close to faltering” and warned Congress against deficit cutting at this point in time. Europe’s sovereign-debt crisis poses risks to growth already weak from housing and joblessness, the Fed chief said. “We need to make sure that the recovery continues and doesn’t drop back and that the unemployment rate continues to fall downward.” The Fed will give more information about its pledge to keep interest rates low at least through mid-2013, reduce the rate paid on banks’ reserve deposits or buy more securities. The central bank has kept that rate near zero since 2008 and purchased $2.3 trillion of housing and government debt.
.
“A second important objective is to avoid fiscal actions that could impede the ongoing economic recovery,” Bernanke said. “Putting in place a credible plan for reducing future deficits over the longer term does not preclude attending to the implications of fiscal choices for the recovery in the near term,” he said, without being more specific. Bernanke said the central bank has no immediate plans but the Fed doesn’t take “anything off the table.”
The economy expanded at a 1.3 percent annual pace in the second quarter after a 0.4 percent rate in the first three months of the year, according to the Commerce Department.
The American Mass media is a Nazi-commi-socialist-effite snob propaganda machine that would make Joseph Goebbels and Josef Mengele proud that their life’s work to perfect elite government physical and psychological control is alive and stronger than ever. Americans are beginning to realize that the elections of 2012 may be the last hope of saving America and therefore the rest of the world from totalitarianism, terror, and mass genocide of the same people who always get slaughtered. The ones who always get slaughtered are the very ones who want big government the most… the stupid, lazy, unemployable, and the mentally or physically ill. Big government always wants to perfect the human race with rules and regulations so the smart people (to survive) realize they must submit like sheep to avoid the slaughter. And then the government begins the elimination of all the people who make the cost on socialized medicine and welfare so high. They are the sick, stupid and unemployable. Over and over again since ancient Greece people simply disappeared. Peoples under many dictatorships, not just Stalin and Hitler were taken to public institutions and never heard from again. The stupid leftists are not dumb. The stupid people are the leftists who think they are smart and have an angle and can profit from totalitarianism. They are people like MSNBC propagandists who think big government is the solution until they discover that the next Hitler or Stalin makes their extermination the government’s official permanent solution. The people clamoring today for big government to take control of their lives may discover that they could get their wish. If so they will be hated by everyone who wants to save America’s human liberties, human compassion, and free enterprise. The ones who want faceless government welfare to replace individual compassion and charity will discover that faceless government has put them first in line for the ovens built for the next holocaust. They will be despised because they betrayed humanity by first siding with totalitarianism against liberty and no one will dare try to rescue them except a few freedom loving compassionate people working secretly and risking their lives to save one or two of the people all dictators just love to hate. History has shown that the leftist ethnic groups with the most leadership in early socialist revolutions in Russia and Europe were hated by the people they betrayed who suffered as a result. The early leftists were later slaughtered by the socialists both in Europe and Russia. The lazy and ignorant tend to vote for leftists and for welfare societies. When the ignorant leftists get the cradle to grave welfare government they craved for, they suddenly discover the time between their cradle and their grave becomes very short.
Leftists don’t like those income tax deductions for charity organizations. They don’t want to pay taxes and often get caught when they cheat. They say that the government should do the charity, and they point out that taxes under communism do not exist because it is all the government’s money and communists give you only what you need. In reality they feel no compassion for the needy and tend to be the most stingy and penny grubbing people you ever meet often living beyond their means, continually scamming the system with law suits, defaults, and fraud. And when the Nazi and Stalinists take over they look for the plum jobs as commissars where they can skim money and privileges. They pretend they care for the needy and in the end they become despised within the socialist viscous mediocracy. The people can only liberate themselves after the socialist viscous mediocracy turns on itself and destroys the liberals who profited from totalitarianism. That took 50 years for Russia with America free. If America becomes a socialist state it could take hundreds of years to end the totalitarianism next time.
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
We were right yesterday. Obama/MSNBC/Pravda said yesterday that the sky is falling so that meant it was time to buy equities again because those leftists are full of something, and that something isn’t smarts.
Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter!
Silver and gold have lost their luster. Europe is only starting to realize that deflation is the world problem not inflation. Gold and silver are headed down to pre-rally levels.
Germany muddles on as the leader of Europe muddling.
Leftist George Soros lost a fortune yesterday shorting equities hoping for a disaster so the markets would plunge. Instead there was a tremendous inflow of investment capital and George took a bath. George Soros is reducing his contributions to the Obama campaign. He is buying banks now and is trying to get Warren Buffett interested as well. We expect another world wide bull market now that the lows of last year held. A bull market could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. Yes, George Soros has destabilized European markets so much that banks are now so low they are bargains. I mean American banks that have little EU sovereign debt.
American Economy
Last week summary
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
The week so far
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
Yesterday
Factory Orders for Aug were down -0.2% after being up 2.4% in July.
This week
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing industry is now improving.
Market Outlook October 5 2011
Our indicators indicate that almost all the cash that flowed out the past two weeks came back in after Bernanke’s speech. The neckline resistance withheld that latest onslaught.
Today was a tumultuous day for all the world markets. The Standard & Poor’s 500 Index fell 1.8 percent before the Bernanke speech and then rose ending up 2.25% for the day after Bernanke spoke and Europe. That was a 4% swing at the end of the day.
We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The good news is there is still time and the economy still can recover in spite of leftist corruption and squandering to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.” Obama is going to a $25000/plate diner put on by the president of Solyndra, the Solar Panel company that Obama gave $535million of our taxes to and then it declared bankruptcy.
The trading range of equities tested the resistance levels of 2010 and they held yet again. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. and See: http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade that seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China closed Hong Kong closed, India down –0.5%, Taiwan down -0.8%, and Japan down –0.9%.
European markets are up today in a range 0.9% to 3.7% half way through their day.
.
American market futures are mixed –0.4% to +0.1% at 7:30AM EST. US market futures rarely have any predictive accuracy.
Tuesday, October 4, 2011
Americans are beginning to realize that the elections of 2012 may be the last hope of saving America
The American Mass media is a Nazi-commi-socialist-effite snob propaganda machine that would make Joseph Goebbels and Josef Mengele proud that their life’s work to perfect elite government physical and psychological control is alive and stronger than ever. True Americans are beginning to realize that the elections of 2012 may be the last hope of saving America and therefore the rest of the world from totalitarianism, terror, and mass genocide of the same people who always get slaughtered… the ones who want big government the most… the stupid, lazy, unemployable, and the mentally or physically ill… by definition. Big government wants to perfect the human race so the smart people (to survive) realize they are forced to submit like sheep to avoid the slaughter. And then the government begins the elimination of all the people who make the cost on socialized medicine and welfare so high. They are the sick, stupid and unemployable… over and over again since ancient Greece to the disappearing peoples under many dictatorships, not just Hitler. The stupid people are not dumb. The stupid people are the people who think they are smart and have an angle and can profit from totalitarianism. They are people like MSNBC propagandists who think big government is the solution until they discover that the next Hitler or Stalin makes their extermination the official government permanent solution. The people clamoring today for big government to take control of their lives may discover that they could get their wish. They will be hated by everyone who wants to save America’s human liberties, human compassion, and free enterprise. The ones who want faceless government welfare to replace individual compassion and charity will discover that faceless government has put them first in line for the ovens built for the next holocaust. They will be despised because they betrayed humanity by siding with totalitarianism against liberty and no one will dare try to rescue them except a few freedom loving compassionate people working secretly and risking their lives to save one or two of the people all dictators just love to hate.
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
Emerging markets appear to have bottomed out and even the bears are now putting their toes in the cold water. But that is true of most world markets. Obama/MSNBC/Pravda say today that the sky is falling today for sure so that must mean it is time to buy equities again because those leftists are full of something, and that something ain’t smarts.
Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter!
Germany muddles on as the leader of Europe muddling.
We expect another world wide bull market now if the lows of last year continue to hold. It is very rare that a bull market ends with no second shoulder on the head and shoulders bear market signal. A bull market could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. But that realization could be delayed until the warm weather when the union dead beats come out to throw rocks again. Actually Greece may not get any EU funding until the end of October so that may create another rock throwing Greek cave-man uprising this month.
American Economy
Last week summary
The housing market in America turned favorable in September.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Case-Shiller 20-city Index Jul sales improved 0.41% relative to last year.
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Initial Claims 09/24 declined to 391K from 423K last week, very good
GDP - Third Estimate Q2 1.3% raised from previous estimate of 1.0%
Pending Home Sales Aug 88.6 is 7.7 percent above August 2010 when it stood at only 82.3. The data reflects contracts not closings.
Friday
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
This week
Oct 4 10:00 AM Factory Orders Aug
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing crisis has hit bottom and the housing industry is now improving.
Market Outlook October 4 2011
Today could be a tumultuous day for all the world markets. It is not just economics. It is the growing groups of people who think authoritarian welfare states are something good. It is happening on every continent. They are leftists who are continually trying to shackle free enterprise and human liberties. They want to tell us what we can eat, what we should drive, what should be built, and worst of all they think they know just what you are worth and say they have the right to your money because they say it is their government’s money. Unless they are all thrown out of power very soon (2012) we are on a road to totalitarianism and a holocaust of… you got it, the leftists are always paranoid and first to turn on themselves to rid themselves of corruption and purify their group. Then they go after the weak and slow to learn, the unemployable… the institutionalized and welfare recipients.
We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The good news is there is still time and the economy still can recover in spite of leftist corruption and squandering to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.”
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. It is not a head-and-shoulders sell signal until or if this recent neckline is broken perhaps in three to six months. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down 0.26%, Hong Kong down –3.4%, India down -1.8%, Taiwan up 0.5%, and Japan down -1.1%.
European markets are down today in a range –1.9% to –3.5% half way through their day.
.
American market futures are down –0.5% to –0.7% at 7:30AM EST. US market futures rarely have any predictive accuracy.
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
Emerging markets appear to have bottomed out and even the bears are now putting their toes in the cold water. But that is true of most world markets. Obama/MSNBC/Pravda say today that the sky is falling today for sure so that must mean it is time to buy equities again because those leftists are full of something, and that something ain’t smarts.
Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter!
Germany muddles on as the leader of Europe muddling.
We expect another world wide bull market now if the lows of last year continue to hold. It is very rare that a bull market ends with no second shoulder on the head and shoulders bear market signal. A bull market could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. But that realization could be delayed until the warm weather when the union dead beats come out to throw rocks again. Actually Greece may not get any EU funding until the end of October so that may create another rock throwing Greek cave-man uprising this month.
American Economy
Last week summary
The housing market in America turned favorable in September.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Case-Shiller 20-city Index Jul sales improved 0.41% relative to last year.
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Initial Claims 09/24 declined to 391K from 423K last week, very good
GDP - Third Estimate Q2 1.3% raised from previous estimate of 1.0%
Pending Home Sales Aug 88.6 is 7.7 percent above August 2010 when it stood at only 82.3. The data reflects contracts not closings.
Friday
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
This week
Oct 4 10:00 AM Factory Orders Aug
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing crisis has hit bottom and the housing industry is now improving.
Market Outlook October 4 2011
Today could be a tumultuous day for all the world markets. It is not just economics. It is the growing groups of people who think authoritarian welfare states are something good. It is happening on every continent. They are leftists who are continually trying to shackle free enterprise and human liberties. They want to tell us what we can eat, what we should drive, what should be built, and worst of all they think they know just what you are worth and say they have the right to your money because they say it is their government’s money. Unless they are all thrown out of power very soon (2012) we are on a road to totalitarianism and a holocaust of… you got it, the leftists are always paranoid and first to turn on themselves to rid themselves of corruption and purify their group. Then they go after the weak and slow to learn, the unemployable… the institutionalized and welfare recipients.
We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The good news is there is still time and the economy still can recover in spite of leftist corruption and squandering to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.”
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. It is not a head-and-shoulders sell signal until or if this recent neckline is broken perhaps in three to six months. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down 0.26%, Hong Kong down –3.4%, India down -1.8%, Taiwan up 0.5%, and Japan down -1.1%.
European markets are down today in a range –1.9% to –3.5% half way through their day.
.
American market futures are down –0.5% to –0.7% at 7:30AM EST. US market futures rarely have any predictive accuracy.
Monday, October 3, 2011
If Obama is not allowed to further cripple the US economy with corruption, we believe America will not have a double dip recession.
If Obama is not allowed to further cripple the US economy with Solyndra and other types of corruption, we believe America will not have a double dip recession. Obama is finally getting out of the way of international trade after three years of job killing union socialism resistance.
French Senate elected a Socialist as speaker for the first time since the 1960’s. Of course for a time back then the French and the Italians also had their Communist party controlling many of the southern regions of their countries. Stupidity has such a short memory. The stupid leftists even gave America the Obama job killer. And Obama chose GE’s French socialist, Jeffrey Immelt to be his Czar of job exports.
House Speaker John Boehner (R-Ohio), House Republican Leader Eric Cantor (R-Va.), Senate Minority Leader Mitch McConnell (R-Ky.) and his deputy, Sen. Jon Kyl (R-Ariz.)sent the letter to the Fed on September 19, the day before its latest policy meeting. The letter pleaded that Fed members”resist further extraordinary intervention in the U.S. economy." They specifically objected to further use of an earlier Fed policy known as "quantitative easing," also designed to lower interest rates with securities purchases. They said, “Such steps may erode the already-weakened U.S. dollar or promote more borrowing by overleveraged consumers,” they wrote. “To date, we have seen no evidence that further monetary stimulus will create jobs or provide a sustainable path towards economic recovery.”
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
Oil plunged 17% in 3Q, the worst quarter since '08
Germany muddles on as the leader of Europe muddling.
We expect another world wide bull market now that could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. But that realization could be delayed until the warm weather when the union dead beats come out to throw rocks again. Actually Greece may not get any EU funding until the end of October so that may create another rock throwing Greek cave-man uprising this month.
American Economy
Last week summary
The housing market in America turned favorable in September.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Case-Shiller 20-city Index Jul sales improved 0.41% relative to last year.
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Initial Claims 09/24 declined to 391K from 423K last week, very good
GDP - Third Estimate Q2 1.3% raised from previous estimate of 1.0%
Pending Home Sales Aug 88.6 is 7.7 percent above August 2010 when it stood at only 82.3. The data reflects contracts not closings.
Friday
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
This week
Oct 4 10:00 AM Factory Orders Aug
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing crisis has hit bottom and the housing industry is now improving.
Market Outlook October 3 2011
Warren Buffett said Berkshire has shunned buybacks for four decades. That has ended and Buffett said that it would repurchase shares for as much as 110 percent of their book value because the stock is undervalued. Stock buybacks put a floor under the stock market by making shares scarce as corporations take them back.
The good news in the USA is that housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. It is not a head-and-shoulders sell signal until or if this recent neckline is broken perhaps in three to six months. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down last night. China closed, Hong Kong down –4.4%, India down -1.8%, Taiwan down –2.9%, and Japan down -1.8%.
European markets are down today in a range –1.0% to –2.5% half way through their day.
.
American market futures are down –0.2% to –0.6% at 7:30AM EST. US market futures rarely have any predictive accuracy.
French Senate elected a Socialist as speaker for the first time since the 1960’s. Of course for a time back then the French and the Italians also had their Communist party controlling many of the southern regions of their countries. Stupidity has such a short memory. The stupid leftists even gave America the Obama job killer. And Obama chose GE’s French socialist, Jeffrey Immelt to be his Czar of job exports.
House Speaker John Boehner (R-Ohio), House Republican Leader Eric Cantor (R-Va.), Senate Minority Leader Mitch McConnell (R-Ky.) and his deputy, Sen. Jon Kyl (R-Ariz.)sent the letter to the Fed on September 19, the day before its latest policy meeting. The letter pleaded that Fed members”resist further extraordinary intervention in the U.S. economy." They specifically objected to further use of an earlier Fed policy known as "quantitative easing," also designed to lower interest rates with securities purchases. They said, “Such steps may erode the already-weakened U.S. dollar or promote more borrowing by overleveraged consumers,” they wrote. “To date, we have seen no evidence that further monetary stimulus will create jobs or provide a sustainable path towards economic recovery.”
The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw
http://www.youtube.com/watch?v=L3S09QPlsg8
http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844
World markets
Oil plunged 17% in 3Q, the worst quarter since '08
Germany muddles on as the leader of Europe muddling.
We expect another world wide bull market now that could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. But that realization could be delayed until the warm weather when the union dead beats come out to throw rocks again. Actually Greece may not get any EU funding until the end of October so that may create another rock throwing Greek cave-man uprising this month.
American Economy
Last week summary
The housing market in America turned favorable in September.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Case-Shiller 20-city Index Jul sales improved 0.41% relative to last year.
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Initial Claims 09/24 declined to 391K from 423K last week, very good
GDP - Third Estimate Q2 1.3% raised from previous estimate of 1.0%
Pending Home Sales Aug 88.6 is 7.7 percent above August 2010 when it stood at only 82.3. The data reflects contracts not closings.
Friday
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround
Gold is down 20% in September and the US dollar is again the best horse in the glue factory.
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements.
This week
Oct 4 10:00 AM Factory Orders Aug
Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01
Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24
Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug
Evidence continues to mount that the American housing crisis has hit bottom and the housing industry is now improving.
Market Outlook October 3 2011
Warren Buffett said Berkshire has shunned buybacks for four decades. That has ended and Buffett said that it would repurchase shares for as much as 110 percent of their book value because the stock is undervalued. Stock buybacks put a floor under the stock market by making shares scarce as corporations take them back.
The good news in the USA is that housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. It is not a head-and-shoulders sell signal until or if this recent neckline is broken perhaps in three to six months. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down last night. China closed, Hong Kong down –4.4%, India down -1.8%, Taiwan down –2.9%, and Japan down -1.8%.
European markets are down today in a range –1.0% to –2.5% half way through their day.
.
American market futures are down –0.2% to –0.6% at 7:30AM EST. US market futures rarely have any predictive accuracy.
Thursday, September 29, 2011
When does the Koran say one should beat one’s wife? Whenever she needs it.
When does the Koran say one should beat one’s wife? Whenever she needs it.
http://www.youtube.com/watch?v=0nUI3TUdFCk&noredirect=1
MSNBC/Pravda seems to have recently purged all commentators who profess either
a belief in the American free enterprise economic system based on the ”Founding Fathers” human liberties, or
who annoy the Obama regime by pointing out the communist-socialist scheme to redistribute international wealth based on a financial liability conjured up from a fraudulent legal scheme based on unscientific “human caused global warming” leftist paranormal feelings.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression.
Obama is a fraud. Obama is employing Federal Agents now as an abuse of federal power. Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world. It is clear he hates the English and many of the continental countries because Obama was taught they were imperialists who stole the resources of the primitive and backward peoples of the world. Obama actions cannot possibly be as stupid as they appear… so we must conclude they are deliberate. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Phony and incompetent Obama administration climatologists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
World markets
Germany made a mistake today and listened to the Obama administration and Germany will help bail out Greece yet again. This is an example of making the error of thinking each war is like the last war. The last war was a private sector disaster requiring several institutions to fail and a temporary surge in bank liquidity to heal it. All the dislocations were cause by the corruption of the private sector derivatives market by the Senate Banking Committee Liar Loan mandate to redistribute wealth to people with no means of making loan payments. That US disaster has festered four years and is just beginning to thaw. That was the past war that needed the temporary TARP loans that are being paid back.
But the EU problem is not with private sector liar loan backed mortgages the socialists Obama, Dodd, and Frank saddled the US Housing Market. The EU problem is a sovereign debt problem and the ejection of Greece from the EU is the only way to eliminate that contagion. The communist unions of Greece have corrupted Greece and they cannot be stopped except by allowing them to collapse into their own corruption. That would then be a lesson to Ireland, Portugal, Spain, and Italy to throw out their communists. Portugal’s government recently fell to the communists.
China http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
Yesterday
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Durable Orders Aug were down -0.1% while they were up 4.1% last month. Not good!
Durable Ordes ex Transportation Aug down -0.8% while they were up 0.8% last month. Not good!
Crude Inventories 09/24 increased 1.915M after dropping sharply -7.336M last month. Prices are dropping.
This week
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 29 2011
The commodities were under intense selling pressure. Copper dropped 5.6%. Gold dropped 2.1%, to $1,618 a troy ounce 20% down from the $2000/oz some predicted early last week. Industrial metals suffered the worst. Energy markets fell, too, after weakening energy demand and the dollar picked up strength in late trading. Oil inventories burgeoned to 1.9 million barrels, and gasoline stocks rose to 791,000 barrels putting downward pressure on gasoline prices.
We expect another world wide bull market now that could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. We expect violent communist demonstrations to spread from Greece to Italy and Portugal next when EU liquidity is exhausted and Germany attempts to get Greece to act responsible again. Again Germany will be ignored as irrelevant and the primary enabler of communist-socialist welfare addiction. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over (with apparent recoveries in between) and the dominoes of the EU will begin to weaken and fall. There will continue to cause large swings in share prices every year, perhaps more than once a year. The contagion of communist-socialist welfare could bring about the fall of the EU with Germany either leaving or collapsing into a communist-national-socialist state.
The good news in the USA is that housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. Remember, America has not capitulated to socialism so America can still get back on the right track but needs to listen to the human rational mind more than the animal heart and certainly much more than to the deranged socialist brain. Human reason is what distinguishes us from the rest of the animal kingdom, the National Socialists (one good example, NAZI) and the International Socialists (another good example, Khmer Rouge).
http://www.youtube.com/watch?v=FxiKkEukWHw
http://www.rottentomatoes.com/m/s21_the_khmer_rouge_killing_machine/
http://www.youtube.com/watch?v=EXxr7N-eseo
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up last night. China down –1.1%, Hong Kong closed, India up 1.5%, Taiwan up 0.5%, and Japan up 1%.
European markets are up today in a range 0% to 1.2% half way through their day.
.
American market futures are up about 0.5% at 8:30AM EST. US market futures rarely have any predictive accuracy.
http://www.youtube.com/watch?v=0nUI3TUdFCk&noredirect=1
MSNBC/Pravda seems to have recently purged all commentators who profess either
a belief in the American free enterprise economic system based on the ”Founding Fathers” human liberties, or
who annoy the Obama regime by pointing out the communist-socialist scheme to redistribute international wealth based on a financial liability conjured up from a fraudulent legal scheme based on unscientific “human caused global warming” leftist paranormal feelings.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression.
Obama is a fraud. Obama is employing Federal Agents now as an abuse of federal power. Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world. It is clear he hates the English and many of the continental countries because Obama was taught they were imperialists who stole the resources of the primitive and backward peoples of the world. Obama actions cannot possibly be as stupid as they appear… so we must conclude they are deliberate. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Phony and incompetent Obama administration climatologists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
World markets
Germany made a mistake today and listened to the Obama administration and Germany will help bail out Greece yet again. This is an example of making the error of thinking each war is like the last war. The last war was a private sector disaster requiring several institutions to fail and a temporary surge in bank liquidity to heal it. All the dislocations were cause by the corruption of the private sector derivatives market by the Senate Banking Committee Liar Loan mandate to redistribute wealth to people with no means of making loan payments. That US disaster has festered four years and is just beginning to thaw. That was the past war that needed the temporary TARP loans that are being paid back.
But the EU problem is not with private sector liar loan backed mortgages the socialists Obama, Dodd, and Frank saddled the US Housing Market. The EU problem is a sovereign debt problem and the ejection of Greece from the EU is the only way to eliminate that contagion. The communist unions of Greece have corrupted Greece and they cannot be stopped except by allowing them to collapse into their own corruption. That would then be a lesson to Ireland, Portugal, Spain, and Italy to throw out their communists. Portugal’s government recently fell to the communists.
China http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
Yesterday
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Durable Orders Aug were down -0.1% while they were up 4.1% last month. Not good!
Durable Ordes ex Transportation Aug down -0.8% while they were up 0.8% last month. Not good!
Crude Inventories 09/24 increased 1.915M after dropping sharply -7.336M last month. Prices are dropping.
This week
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 29 2011
The commodities were under intense selling pressure. Copper dropped 5.6%. Gold dropped 2.1%, to $1,618 a troy ounce 20% down from the $2000/oz some predicted early last week. Industrial metals suffered the worst. Energy markets fell, too, after weakening energy demand and the dollar picked up strength in late trading. Oil inventories burgeoned to 1.9 million barrels, and gasoline stocks rose to 791,000 barrels putting downward pressure on gasoline prices.
We expect another world wide bull market now that could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. We expect violent communist demonstrations to spread from Greece to Italy and Portugal next when EU liquidity is exhausted and Germany attempts to get Greece to act responsible again. Again Germany will be ignored as irrelevant and the primary enabler of communist-socialist welfare addiction. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over (with apparent recoveries in between) and the dominoes of the EU will begin to weaken and fall. There will continue to cause large swings in share prices every year, perhaps more than once a year. The contagion of communist-socialist welfare could bring about the fall of the EU with Germany either leaving or collapsing into a communist-national-socialist state.
The good news in the USA is that housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. Remember, America has not capitulated to socialism so America can still get back on the right track but needs to listen to the human rational mind more than the animal heart and certainly much more than to the deranged socialist brain. Human reason is what distinguishes us from the rest of the animal kingdom, the National Socialists (one good example, NAZI) and the International Socialists (another good example, Khmer Rouge).
http://www.youtube.com/watch?v=FxiKkEukWHw
http://www.rottentomatoes.com/m/s21_the_khmer_rouge_killing_machine/
http://www.youtube.com/watch?v=EXxr7N-eseo
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up last night. China down –1.1%, Hong Kong closed, India up 1.5%, Taiwan up 0.5%, and Japan up 1%.
European markets are up today in a range 0% to 1.2% half way through their day.
.
American market futures are up about 0.5% at 8:30AM EST. US market futures rarely have any predictive accuracy.
Wednesday, September 28, 2011
Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world.
Obama is a fraud. Obama is employing Federal Agents now as an abuse of federal power. Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world. It is clear he hates the English and many of the continental countries because Obama was taught they were imperialists who stole the resources of the primitive and backward peoples of the world. Obama actions cannot possibly be as stupid as they appear… so we must conclude they are deliberate.
States pay for Obama’s full year unemployment payment extension. States pay by putting that extension cost exclusively by the back of businesses. That means the more a business employs the more it must pay. Obama loves that kind of tax because the Federal Government is reimbursed by what he considers to be the greedy evil businesses. But it also shows Obama is too stupid to figure out how to create jobs.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression. Yes, stupid Obama said we were in a depression during his campaign. Nobody in the western world ever was stupid enough to use the “D” word since FDR’s Great Depression. That is because fear undermines confidence. We need a president that people can trust not one who people fear because of his abuse of power. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Kaiser said that health insurance premiums have soared because we are beginning to see Obama’s changes in preventative care benefits and many companies were now enrolling young adults into corporate health plans because of the law. Goldman Sacks, said the increase was due to the high rate of increase in family coverage, due to a new Obama provision allowing people up to the age of 26 to join their parents’ plan, creating additional costs instead of using the less expensive coverage Universities supply. In the past young people either got a job and were covered or they went to college and got coverage. But Obamamerd is destroying jobs and making inexpensive programs into Cadillac programs for the growing anti-work, be- happy Obama voting block. Liberals find it refreshing to see others on lines waiting for welfare checks because that is how Liberals think they help the world. To Obama that is what good government is all about, corruption, kickbacks, welfare dependency, and kicking back in a chair with his feet up on the desk Abraham Lincoln used to write the Gettysburg Address. MMM mmm mmm, that’s Obamamerd.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control. Obama would love to see the “Great Imperialists” all destroyed. Obama is becoming a greater enemy of western civilization than all the maniacs of the Jihads. That is why Israel fears for their existences now, just as Europe and America should. Obama appointees are now attempting to de-stabilize Europe by publicly chiding Europe for not bailing out Greece. Well in the USA we have several states also in very bad fiscal situation and the American people would kick Obama and the Democrats out on their asses if they knew that Obama secretly funneled federal funds into failing states controlled by inept Democrat under the guise of Obama’s jobs creation programs. That money goes into state make-work programs that increase taxes and debt delaying the free market recovery.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The damage is already done so it is time for the EU to kick the communist union run Greece out of the EU. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that communist gangster unions run Greece. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP. A 2-trillion-euro rescue fund would likely let Greece founder later next year.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Yesterday
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
This week
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 28 2011
In two days the stock markets have risen all the way to the bottom where they started their tumble last week. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. There will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again even if MSNBC/Jim Cramer/Pravda can’t do the math.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. The neckline is more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -1%, Hong Kong down -0.7%, India down –0.5%, Taiwan up 0.8%, and Japan up 0.1%.
European markets are mixed in a range –0.5% to 0.5% half way through their day. This excludes outliers.
.
American market futures are up about 0.3% at 8:30AM EST.
States pay for Obama’s full year unemployment payment extension. States pay by putting that extension cost exclusively by the back of businesses. That means the more a business employs the more it must pay. Obama loves that kind of tax because the Federal Government is reimbursed by what he considers to be the greedy evil businesses. But it also shows Obama is too stupid to figure out how to create jobs.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression. Yes, stupid Obama said we were in a depression during his campaign. Nobody in the western world ever was stupid enough to use the “D” word since FDR’s Great Depression. That is because fear undermines confidence. We need a president that people can trust not one who people fear because of his abuse of power. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Kaiser said that health insurance premiums have soared because we are beginning to see Obama’s changes in preventative care benefits and many companies were now enrolling young adults into corporate health plans because of the law. Goldman Sacks, said the increase was due to the high rate of increase in family coverage, due to a new Obama provision allowing people up to the age of 26 to join their parents’ plan, creating additional costs instead of using the less expensive coverage Universities supply. In the past young people either got a job and were covered or they went to college and got coverage. But Obamamerd is destroying jobs and making inexpensive programs into Cadillac programs for the growing anti-work, be- happy Obama voting block. Liberals find it refreshing to see others on lines waiting for welfare checks because that is how Liberals think they help the world. To Obama that is what good government is all about, corruption, kickbacks, welfare dependency, and kicking back in a chair with his feet up on the desk Abraham Lincoln used to write the Gettysburg Address. MMM mmm mmm, that’s Obamamerd.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control. Obama would love to see the “Great Imperialists” all destroyed. Obama is becoming a greater enemy of western civilization than all the maniacs of the Jihads. That is why Israel fears for their existences now, just as Europe and America should. Obama appointees are now attempting to de-stabilize Europe by publicly chiding Europe for not bailing out Greece. Well in the USA we have several states also in very bad fiscal situation and the American people would kick Obama and the Democrats out on their asses if they knew that Obama secretly funneled federal funds into failing states controlled by inept Democrat under the guise of Obama’s jobs creation programs. That money goes into state make-work programs that increase taxes and debt delaying the free market recovery.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The damage is already done so it is time for the EU to kick the communist union run Greece out of the EU. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that communist gangster unions run Greece. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP. A 2-trillion-euro rescue fund would likely let Greece founder later next year.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Yesterday
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
This week
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 28 2011
In two days the stock markets have risen all the way to the bottom where they started their tumble last week. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. There will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again even if MSNBC/Jim Cramer/Pravda can’t do the math.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. The neckline is more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -1%, Hong Kong down -0.7%, India down –0.5%, Taiwan up 0.8%, and Japan up 0.1%.
European markets are mixed in a range –0.5% to 0.5% half way through their day. This excludes outliers.
.
American market futures are up about 0.3% at 8:30AM EST.
Tuesday, September 27, 2011
What service did Senator Pelosi and the California Democratic Party provide for Solyndra?
What service did Senator Pelosi and the California Democratic Party provide for Solyndra? Solyndra stole $535 million dollars of taxpayer money which it spent on one of Obama’s green job creation projects which was in the red from the start and just laid off over 1000 workers.
Financial firms have announced more than 120,000 job cuts this year. Bank of America Corp., the biggest U.S. lender by assets, said Sept. 12 it also will eliminate another 30,000 jobs after being attacked directly and repeatedly by Obama and the Democratic Party for revealing that the largest American bank was coerced by the Obama Administration into bailing out Merrill Lynch and Countrywide (the biggest corrupt Dodd-Frank liar loan mortgage dealer in the world). After CEO Ken Lewis squealed and told how Paulson and Geithner had coerced him, Obama twisted the facts and claimed that if Ken Lewis was coerced then he had failed to disclose the risks of that coercion to the shareholders. Obama and his Party then forced out Ken Lewis because he took the coercion public. To force CEO Ken Lewis out, every Democrat State Treasurer in the USA corruptly voted their state pension fund BAC stock in a coordinated illegal national political party use of public funds to fire Ken Lewis. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
http://www.youtube.com/watch?v=hdiFOWzh16I
Phony and incompetent self proclaimed climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that Greece has about 12 million people with about $300 billion in debt, and as economist Nouriel Roubini says its problem is a “chronic lack of competitiveness.” Anywhere from 70% to 80% of Greece’s private-sector companies are owned by the Greek government, state-owned enterprises staffed with political cronies exacting their own payback from getting officials elected. Unions run dozens of companies too. All of this means any bailout of Greece will founder sooner or later. A 2-trillion-euro rescue fund would likely let Greece founder later. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Yesterday
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
This week
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 27 2011
Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. The will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up significantly last night. China up 0.9%, Hong Kong up 4.2%, India up 3%, Seoul up 5%, and Japan up 2.8%.
European markets are up significantly in a range 3% to 4% half way through their day.
.
American market futures are up about 1.7% at 8AM EST.
Financial firms have announced more than 120,000 job cuts this year. Bank of America Corp., the biggest U.S. lender by assets, said Sept. 12 it also will eliminate another 30,000 jobs after being attacked directly and repeatedly by Obama and the Democratic Party for revealing that the largest American bank was coerced by the Obama Administration into bailing out Merrill Lynch and Countrywide (the biggest corrupt Dodd-Frank liar loan mortgage dealer in the world). After CEO Ken Lewis squealed and told how Paulson and Geithner had coerced him, Obama twisted the facts and claimed that if Ken Lewis was coerced then he had failed to disclose the risks of that coercion to the shareholders. Obama and his Party then forced out Ken Lewis because he took the coercion public. To force CEO Ken Lewis out, every Democrat State Treasurer in the USA corruptly voted their state pension fund BAC stock in a coordinated illegal national political party use of public funds to fire Ken Lewis. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
http://www.youtube.com/watch?v=hdiFOWzh16I
Phony and incompetent self proclaimed climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that Greece has about 12 million people with about $300 billion in debt, and as economist Nouriel Roubini says its problem is a “chronic lack of competitiveness.” Anywhere from 70% to 80% of Greece’s private-sector companies are owned by the Greek government, state-owned enterprises staffed with political cronies exacting their own payback from getting officials elected. Unions run dozens of companies too. All of this means any bailout of Greece will founder sooner or later. A 2-trillion-euro rescue fund would likely let Greece founder later. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Yesterday
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
This week
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 27 2011
Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. The will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up significantly last night. China up 0.9%, Hong Kong up 4.2%, India up 3%, Seoul up 5%, and Japan up 2.8%.
European markets are up significantly in a range 3% to 4% half way through their day.
.
American market futures are up about 1.7% at 8AM EST.
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