Let us not forget that Senators Dodd and Barney Frank created the real estate crisis by calling it “racist redlining” and discrimination against Obama’s race if lenders asked mortgage applicants if they had a source of legal income and if they could afford to make the mortgage payments on the house they wanted Uncle Sam to buy for them. Barnie will now join Dodd and not run again for Senate.
Let us not forget that before the “Dodd Frank phony mortgages” brought on the collapse of the American economy, Senator Obama became the first American politician in the history of America to be so stupid and malicious as to declare that the USA was in a depression and Senator Dodd quickly created a run on the first California Bank since the Great Depression by revealing secret Senate Banking Committee information about the bank’s lack of liquidity.
We will soon be rid of Senators Dodd and Barney Frank who along with Senator Obama created the current world crisis. We can only hope that Obama will step down soon and give America a chance to get back on track.
“Screw the taxpayers to buy the corrupt politicians,” is Obama’s campaign contribution slogan. This racket is going on in every single State that allows collective state employee bargaining with leftist arbitration of disagreements. No wonder Obama wants card check like they invented in the USSR. Only in the USSR the corrupt workers party carried red flags not union cards and the honest workers were sent to Siberia. Communism is still the goal of the banana republic tag team of Hugo Chavez and Obama. Now the State of Wisconsin is free to put the insurance contract out for bids and behold, they have saved so much money it has turned deficits into surpluses. As a result, none of the teachers had to be laid off, everyone got a raise, etc., etc., and the taxpayers of Wisconsin don't have to pay more taxes to fund the corrupt socialist push to take away American liberties such as our right to keep the fruits of our labor.
Machinists asked the National Labor Relations Board to drop a complaint against the Boeing Co. (BA) after union members approved a new contract that increases production in Seattle and averts the risk of a third straight strike. Obama is now destroying America’s ability to compete in all the aerospace markets. The EU, China, and Russia are doing well under Obama’s aerospace dictatorship.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone who owns US Treasuries with a 50% haircut. The USA needs to throw out the socialist Democrats who believe in spending beyond our means on giving welfare instead of an education in American work ethics.
World markets
The price of gold and the Euro fell the most in two weeks versus the dollar as Moody’s Investors Service said it will review the ratings of European Union nations after last week’s summit failed to produce an meaningful steps to end the EU debt crisis.
India’s industrial output shrank for the first time in 28 months, pushing stocks and the rupee lower on concern faltering growth will force the central bank to suspend its fight against India’s highest inflation of the BRIC nations.
Production at factories, utilities and mines fell 5.1 percent from a year earlier in October.
China’s economy, the second largest after the USA, is cooling as their exports weaken and the Communist government cracks down on property speculation, banking irregularities and political corruption. Growth in bulk shipments in November was down and still at less than 20% of levels during their economic boom. Customs data released on Dec. 10 showed that when seasonal distortions are removed the Chinese trade surplus shrank from a year earlier.
Bundesbank President Jens Weidmann told the Frankfurter Allgemeine Sonntagszeitung that governments must resolve the debt crisis, rather than the Frankfurt-based ECB. Germany’s top central banker added that the new accord on budget rules represents some progress. “The mandate for redistributing taxpayer money among member states clearly does not lie in monetary policy,” Weidmann said in an interview published yesterday that, “Financing of sovereign debt through central banks is and remains forbidden by treaty.” In the USA it is done through higher Federal taxation of the rich states followed by Federal investment in military bases, NASA, and national defense industries in the poor south and rich Texas.
Brazil cut their 2012 economic forecast for the benchmark interest rate for the second straight week on expectations of slower growth in the wake of the EU’s worsening debt crisis.
World markets are failing to break out some on the second and third times at resistance levels.
http://finance.yahoo.com/intlindices?e=asia
China testing recent lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany testing resistance level: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart2:symbol=^gdaxi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on
The Swiss testing resistance level. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets triple bounce but still testing resistance level.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system.
Last week
The good
Initial Claims 12/03 381K down from 402K
Continuing Claims 11/26 3583K down from 3740K as unemployment checks expire after two years. I never believed most of the USSR’s economic reports either. Obama’s socialist union supporters still refuse to allow unemployed Americans to take community service jobs that allow them to earn a minimum wage. The socialist unions say it destroys the welfare state voting block to put them back in the work force the way Gingrich and Clinton did under 1995 welfare reform. Remember the Obama administration’s communist slogan, “Every crisis is an opportunity to advance the welfare state.”
Mich Sentiment Dec 67.7 up from 64.1 last month
The bad
Wholesale Inventories Oct rose 1.6% after declining -0.1% … very bad!
Trade Balance Oct -$43.5B slightly worse than last months-$43.1B
Today
Dec 12 2:00 PM Treasury Budget Nov
This Week
Dec 13 8:30 AM Retail Sales Nov
Dec 13 8:30 AM Retail Sales ex-auto Nov
Dec 13 10:00 AM Business Inventories Oct
Dec 13 2:15 PM FOMC Rate Decision Dec
Dec 14 7:00 AM MBA Mortgage Index 12/10
Dec 14 8:30 AM Export Prices ex-ag. Nov
Dec 14 8:30 AM Import Prices ex-oil Nov
Dec 14 10:30 AM Crude Inventories 12/10
Dec 15 8:30 AM Initial Claims 12/10
Dec 15 8:30 AM Continuing Claims 12/03
Dec 15 8:30 AM PPI Nov
Dec 15 8:30 AM Core PPI Nov
Dec 15 8:30 AM Empire Manufacturing Dec
Dec 15 8:30 AM Current Account Balance Q3
Dec 15 9:00 AM Net Long-Term TIC Flows Oct
Dec 15 9:15 AM Industrial Production Nov
Dec 15 9:15 AM Capacity Utilization Nov
Dec 15 10:00 AM Philadelphia Fed Dec
Dec 16 8:30 AM CPI Nov
Dec 16 8:30 AM Core CPI Nov
Market outlook December 12, 2011
Stocks still fail to break out of recent highs. Where is the breakout and short squeeze? The US and the world economy may not slip back into a recession in spite of Obama incompetence, but that is starting to look less likely. Shareholders may want to get out before January if a rally does not break current resistance levels.
Real estate has possibly turned the corner but will not take off until Americans are confident that Obama and his leftist supporters will be thrown out of office or even later if he is re-elected.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama has to manipulate the government statistics just like all USSR did to pretend things are better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. If the rally occurs, then in a moth or two that will be the time to get back into cash. Complacency has not set in at all yet. There is still just not much short seller fear at this point. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
We are still at less than 20% of the bulk trade level that existed before Obama declared the USA was in a depression in one of his campaign speeches. Obama and Dodd caused the fear that triggered the bank run. Insert into explorer and look at the 5yr trend at the bottom of the page.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were mixed last night. China down -1%, Hong Kong down –0.1%, India down –2.1%, S. Korea up 1.3% and Japan up 1.4%.
European markets are down today in a range –1.7% to +0.2% half way through their day.
American market futures are down about -0.7% at 7:00 AM EST. It is an unreliable predictor.
Monday, December 12, 2011
Friday, December 9, 2011
“Screw the taxpayers to buy the corrupt politicians,” is Obama’s campaign contribution slogan.
Heard on the street
Democrats and Liberals are keeping really quiet about this and Obama stayed away from Wisconsin on his latest Campaign Tour even though he was right next door. Wisconsin and New Jersey are the last places he wants to talk about! Remember the violent and disgusting leftist defections in the Wisconsin capitol over Gov. Scott Walker doing away with collective bargaining for Teachers unions? The results are in. Many school districts went from up to $400,000 deficits to up to $1,500,000 surpluses as a result. They are even hiring new teachers, not firing like the leftists said would happen. The insurance company that provided all the so-called "benefits" to the teachers was an insurance company owned and operated by the teacher's union that siphoned off the taxpayers money to pay the premiums (not the teachers). The insurance company inflated annual costs and became the most expensive insurance company in the state. Then the company donated the millions of embezzled taxpayer dollars to their favorite socialist-democrat politicians who, when they got elected and guaranteed the union's highway robbery theft. In other words, the insurance company was a corrupted "pass through" of Wisconsin taxpayer money directly to the leftist democrat politicians. This is corruption in its worst form… the kind Obama loves the most. “Screw the taxpayers to buy the corrupt politicians,” is Obama’s campaign contribution slogan. This racket is going on in every single State that allows collective state employee bargaining with leftist arbitration of disagreements. No wonder Obama wants card check like they invented in the USSR. Only in the USSR the corrupt workers party carried red flags not union cards and the honest workers were sent to Siberia. Communism is still the goal of the banana republic tag team of Hugo Chavez and Obama. Now the State of Wisconsin is free to put the insurance contract out for bids and behold, they have saved so much money it has turned deficits into surpluses. As a result, none of the teachers had to be laid off, everyone got a raise, etc., etc., and the taxpayers of Wisconsin don't have to pay more taxes to fund the corrupt socialist push to take away American liberties such as our right to keep the fruits of our labor.
Machinists asked the National Labor Relations Board to drop a complaint against the Boeing Co. (BA) after union members approved a new contract that increases production in Seattle and averts the risk of a third straight strike. Obama is now destroying America’s ability to compete in all the aerospace markets. The EU, China, and Russia are doing well under Obama’s aerospace dictatorship.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone who owns US Treasuries with a 50% haircut. The USA needs to throw out the socialist Democrats who believe in spending beyond our means on giving welfare instead of an education in American work ethics.
World markets
China’s central bank plans to set up $300 billion in funds to invest overseas.
At the ECB meeting in Frankfurt European, EU leaders pledged that the national central banks will channel 200 billion euros ($268 billion) through the International Monetary Fund to fight the debt crisis. Of course the USA funds most of the IMF money and the EU now controls the International Monetary Fund.
Singapore faces a collapse in housing prices as Asian chaos grows.
Japan’s trade balance fades as lower manufacturing costs and junk from China undermines Japan’s sales. It is reminiscent of the 1950’s when Japanese junk undermined the American and European economies. Junk is very costly because it usually causes damage to other dependent products and is a waste of time and energy.
Brazil’s November inflation increased to a 6.2% annual rate.
China’s recession risk increased significantly.
Batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system.
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy underclass that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education due to incompetent leftist teachers in all levels of American education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! At least that is true in New England.
This Week
So far
The bad
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Dec 7 10:30 AM Crude Inventories 12/03 1.336M down from 3.932M means higher fuel prices and fossil fuel stock recovery.
Dec 7 3:00 PM Consumer Credit Oct $7.6B up slightly from $7.4B reported last month is mostly due to student debt.
The good
MBA Mortgage Index 12/03 12.8% a tremendous improvement from -11.7% last month.
Yesterday
Initial Claims 12/03 381K down from 402K
Continuing Claims 11/26 3583K down from 3740K as unemployment checks expire after two years. Obama’s socialist union supporters still refuse to allow unemployed Americans to take community service jobs that allow them to earn a minimum wage. The socialist unions say it destroys the welfare state voting block to put them back in the work force the way Gingrich and Clinton did under 1995 welfare reform. Democrats’ campaign to win back control of the U.S. House, assailed Republicans’ for not extending the payroll tax break and three years of unemployment checks saying it will backfire politically and help Democrats by growing the welfare voting block. Remember the Obama administration’s communist slogan, “Every crisis is an opportunity to advance the welfare state.”
Wholesale Inventories Oct rose 1.6% after declining -0.1% … very bad!
Today
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
Market outlook December 9, 2011
Stocks still hover near recent highs. The US and the world economy may not slip back into a recession in spite of Obama incompetence. Real estate has possibly turned the corner but will not take off until Americans are confident that Obama and his leftist supporters will be thrown out of office.
The short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama has to manipulate the government statistics just like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were down last night. China down -0.6%, Hong Kong down –2.7%, India down –1.7%, and Japan down –1.5%.
European markets are mixed today in a range –1.8% to +2% half way through their day. Only Greece and Belgium are down.
American market futures are up about 0.8% at 7:30 AM EST. They are an unreliable predictor.
Democrats and Liberals are keeping really quiet about this and Obama stayed away from Wisconsin on his latest Campaign Tour even though he was right next door. Wisconsin and New Jersey are the last places he wants to talk about! Remember the violent and disgusting leftist defections in the Wisconsin capitol over Gov. Scott Walker doing away with collective bargaining for Teachers unions? The results are in. Many school districts went from up to $400,000 deficits to up to $1,500,000 surpluses as a result. They are even hiring new teachers, not firing like the leftists said would happen. The insurance company that provided all the so-called "benefits" to the teachers was an insurance company owned and operated by the teacher's union that siphoned off the taxpayers money to pay the premiums (not the teachers). The insurance company inflated annual costs and became the most expensive insurance company in the state. Then the company donated the millions of embezzled taxpayer dollars to their favorite socialist-democrat politicians who, when they got elected and guaranteed the union's highway robbery theft. In other words, the insurance company was a corrupted "pass through" of Wisconsin taxpayer money directly to the leftist democrat politicians. This is corruption in its worst form… the kind Obama loves the most. “Screw the taxpayers to buy the corrupt politicians,” is Obama’s campaign contribution slogan. This racket is going on in every single State that allows collective state employee bargaining with leftist arbitration of disagreements. No wonder Obama wants card check like they invented in the USSR. Only in the USSR the corrupt workers party carried red flags not union cards and the honest workers were sent to Siberia. Communism is still the goal of the banana republic tag team of Hugo Chavez and Obama. Now the State of Wisconsin is free to put the insurance contract out for bids and behold, they have saved so much money it has turned deficits into surpluses. As a result, none of the teachers had to be laid off, everyone got a raise, etc., etc., and the taxpayers of Wisconsin don't have to pay more taxes to fund the corrupt socialist push to take away American liberties such as our right to keep the fruits of our labor.
Machinists asked the National Labor Relations Board to drop a complaint against the Boeing Co. (BA) after union members approved a new contract that increases production in Seattle and averts the risk of a third straight strike. Obama is now destroying America’s ability to compete in all the aerospace markets. The EU, China, and Russia are doing well under Obama’s aerospace dictatorship.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone who owns US Treasuries with a 50% haircut. The USA needs to throw out the socialist Democrats who believe in spending beyond our means on giving welfare instead of an education in American work ethics.
World markets
China’s central bank plans to set up $300 billion in funds to invest overseas.
At the ECB meeting in Frankfurt European, EU leaders pledged that the national central banks will channel 200 billion euros ($268 billion) through the International Monetary Fund to fight the debt crisis. Of course the USA funds most of the IMF money and the EU now controls the International Monetary Fund.
Singapore faces a collapse in housing prices as Asian chaos grows.
Japan’s trade balance fades as lower manufacturing costs and junk from China undermines Japan’s sales. It is reminiscent of the 1950’s when Japanese junk undermined the American and European economies. Junk is very costly because it usually causes damage to other dependent products and is a waste of time and energy.
Brazil’s November inflation increased to a 6.2% annual rate.
China’s recession risk increased significantly.
Batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system.
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy underclass that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education due to incompetent leftist teachers in all levels of American education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! At least that is true in New England.
This Week
So far
The bad
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Dec 7 10:30 AM Crude Inventories 12/03 1.336M down from 3.932M means higher fuel prices and fossil fuel stock recovery.
Dec 7 3:00 PM Consumer Credit Oct $7.6B up slightly from $7.4B reported last month is mostly due to student debt.
The good
MBA Mortgage Index 12/03 12.8% a tremendous improvement from -11.7% last month.
Yesterday
Initial Claims 12/03 381K down from 402K
Continuing Claims 11/26 3583K down from 3740K as unemployment checks expire after two years. Obama’s socialist union supporters still refuse to allow unemployed Americans to take community service jobs that allow them to earn a minimum wage. The socialist unions say it destroys the welfare state voting block to put them back in the work force the way Gingrich and Clinton did under 1995 welfare reform. Democrats’ campaign to win back control of the U.S. House, assailed Republicans’ for not extending the payroll tax break and three years of unemployment checks saying it will backfire politically and help Democrats by growing the welfare voting block. Remember the Obama administration’s communist slogan, “Every crisis is an opportunity to advance the welfare state.”
Wholesale Inventories Oct rose 1.6% after declining -0.1% … very bad!
Today
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
Market outlook December 9, 2011
Stocks still hover near recent highs. The US and the world economy may not slip back into a recession in spite of Obama incompetence. Real estate has possibly turned the corner but will not take off until Americans are confident that Obama and his leftist supporters will be thrown out of office.
The short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama has to manipulate the government statistics just like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were down last night. China down -0.6%, Hong Kong down –2.7%, India down –1.7%, and Japan down –1.5%.
European markets are mixed today in a range –1.8% to +2% half way through their day. Only Greece and Belgium are down.
American market futures are up about 0.8% at 7:30 AM EST. They are an unreliable predictor.
Thursday, December 8, 2011
Obama is the king of fraud, waste, and abuse of power.
According to a report by the Institute on Taxation and Economic Policy, GE’s president, Obama’s advisor Jeffrey Immelt, not only exported the highest percentage of jobs, GE runs the Indian firm “Infotech” which was set up to take away American Engineering Jobs, and GE has paid little or no income taxes. Obama’s only corporate advisor is Jeffrey Immelt. All of Obama’s other advisors are leftist lunatics.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone who owns US Treasuries with a 50% haircut. The USA needs to throw out the socialists who believe in spending beyond our means and on giving welfare instead of an education in American work ethics.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
ECB meeting in Frankfurt is believed likely to be ready to stimulate European economies by cutting the benchmark interest rate by a quarter percentage point to 1 percent. This is bullish for the EU.
Singapore faces a collapse in housing prices as Asian chaos grows.
Japan’s trade balance fades as lower manufacturing costs and junk from China undermines Japan’s sales. It is reminiscent of the 1950’s when Japanese junk undermined the American and European economies. Junk is very costly because it usually causes damage to other dependent products and is a waste of money, time and energy.
Brazil’s November inflation increased to a 6.2% annual rate.
Greek Prime Minister Lucas Papademos received parliamentary approval for a financial plan that aims to nearly halve next year’s deficit shortfall and possibly allow Greece to remain a member of the EU. The pressure on debtors has declined significantly.
China’s recession risk increased significantly.
Geithner risks USA economy and our children’s future to bail out Europe with US taxpayer dollars. China will benefit from doing nothing to help other countries as they dump inferior products on the world. Chinese computer batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system.
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! .
This Week
So far
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Yesterday
MBA Mortgage Index 12/03 12.8% a tremendous improvement from -11.7% last month.
Crude Inventories 12/03 1.336M down from 3.932M means higher fuel prices and fossil fuel stock recovery.
Consumer Credit Oct $7.6B up slightly from $7.4B reported last month is mostly due to student debt.
Today
Dec 8 8:30 AM Initial Claims 12/03
Dec 8 8:30 AM Continuing Claims 11/26
Dec 8 10:00 AM Wholesale Inventories Oct
Coming
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama thinks he will not get re-elected if unemployment is greater than 9%
Market outlook December 8, 2011
Stocks still hover near recent highs. The US and the world economy may not slip back into a recession in spite of Obama incompetence. Real estate has possibly turned the corner but will not take off until Americans are confident that Obama and his leftist supporters will be thrown out of office.
Market vector is predicting the same type of short term rally we have been talking about: Select stock index data, then stock index daily, then the market index you want. Things could improve if Obama is persuaded not to run for office, as Lyndon Johnson was when he faced guns & butter stagnation. America has always been decisive in the past. The American Revolution and the World Wars were over in 4 years of American involvement. Americans hate wars but love a good victory over tyranny. Five or more years of war are the American definition of incompetence in leadership. That goes for Republicans as well as Democrats.
http://marketvector.com/data/index.htm
The short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally. Obama is an economic bummer for the USA and it will continue that way because he is such a socialist to the very core. Since the collapse of the USSR communist empire and China’s venture into capitalism only morons still believe in the socialist “welfare state.”
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama is a moron and has to manipulate the government statistics just like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were down last night. China down -0.3%, Hong Kong down –0.7%, India down 0%, and Japan down -0.7%.
European markets are mixed today in a range –0.5% to 1% half way through their day.
American market futures are flat about -0.2% at 7:00 AM EST. They are an unreliable predictor.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone who owns US Treasuries with a 50% haircut. The USA needs to throw out the socialists who believe in spending beyond our means and on giving welfare instead of an education in American work ethics.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
ECB meeting in Frankfurt is believed likely to be ready to stimulate European economies by cutting the benchmark interest rate by a quarter percentage point to 1 percent. This is bullish for the EU.
Singapore faces a collapse in housing prices as Asian chaos grows.
Japan’s trade balance fades as lower manufacturing costs and junk from China undermines Japan’s sales. It is reminiscent of the 1950’s when Japanese junk undermined the American and European economies. Junk is very costly because it usually causes damage to other dependent products and is a waste of money, time and energy.
Brazil’s November inflation increased to a 6.2% annual rate.
Greek Prime Minister Lucas Papademos received parliamentary approval for a financial plan that aims to nearly halve next year’s deficit shortfall and possibly allow Greece to remain a member of the EU. The pressure on debtors has declined significantly.
China’s recession risk increased significantly.
Geithner risks USA economy and our children’s future to bail out Europe with US taxpayer dollars. China will benefit from doing nothing to help other countries as they dump inferior products on the world. Chinese computer batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system.
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! .
This Week
So far
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Yesterday
MBA Mortgage Index 12/03 12.8% a tremendous improvement from -11.7% last month.
Crude Inventories 12/03 1.336M down from 3.932M means higher fuel prices and fossil fuel stock recovery.
Consumer Credit Oct $7.6B up slightly from $7.4B reported last month is mostly due to student debt.
Today
Dec 8 8:30 AM Initial Claims 12/03
Dec 8 8:30 AM Continuing Claims 11/26
Dec 8 10:00 AM Wholesale Inventories Oct
Coming
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama thinks he will not get re-elected if unemployment is greater than 9%
Market outlook December 8, 2011
Stocks still hover near recent highs. The US and the world economy may not slip back into a recession in spite of Obama incompetence. Real estate has possibly turned the corner but will not take off until Americans are confident that Obama and his leftist supporters will be thrown out of office.
Market vector is predicting the same type of short term rally we have been talking about: Select stock index data, then stock index daily, then the market index you want. Things could improve if Obama is persuaded not to run for office, as Lyndon Johnson was when he faced guns & butter stagnation. America has always been decisive in the past. The American Revolution and the World Wars were over in 4 years of American involvement. Americans hate wars but love a good victory over tyranny. Five or more years of war are the American definition of incompetence in leadership. That goes for Republicans as well as Democrats.
http://marketvector.com/data/index.htm
The short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally. Obama is an economic bummer for the USA and it will continue that way because he is such a socialist to the very core. Since the collapse of the USSR communist empire and China’s venture into capitalism only morons still believe in the socialist “welfare state.”
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama is a moron and has to manipulate the government statistics just like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were down last night. China down -0.3%, Hong Kong down –0.7%, India down 0%, and Japan down -0.7%.
European markets are mixed today in a range –0.5% to 1% half way through their day.
American market futures are flat about -0.2% at 7:00 AM EST. They are an unreliable predictor.
Wednesday, December 7, 2011
Obama's advisor Jeffrey Immelt, not only exported the highest percentage of jobs, GE runs “Infotech” which was set up to take away American Engineering Jobs
According to a report by the Institute on Taxation and Economic Policy, GE’s president, Jeffrey Immelt, not only exported the highest percentage of jobs, GE runs the Indian firm “Infotech” which was set up to take away American Engineering Jobs, and GE has paid no income taxes. Obama’s only corporate advisor is Jeffrey Immelt. All of Obama’s other advisors are leftist lunatics.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone with a 50% haircut who owns US Treasuries. The USA needs to throw out the socialist Democrats who believe in spending beyond our means on giving welfare instead of an education in American work ethics.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Greek Prime Minister Lucas Papademos received parliamentary approval for a financial plan that aims to nearly halve next year’s deficit shortfall and possibly allow Greece to remain a member of the EU. The pressure on debtors has declined significantly.
China’s recession risk increased significantly.
Geithner risks USA economy and our children’s future to bail out Europe with US taxpayer dollars. China will benefit from doing nothing to help other countries as they dump inferior products on the world. Chinese computer batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy underclass that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education due to incompetent leftist teachers in all levels of American education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! At least that is true in New England.
Last week
The good
Consumer Confidence Nov 56.0 up sharply from 39.8
FHFA Housing Price Index Sep +0.9% great improvement from -0.1%
Construction Spending Oct 0.8% improved from 0.2%
ISM Index Nov 52.7 good inc in manufacturing from 50.8
Pending Home Sales Oct 10.4% -great improvement from -4.60%
Chicago PMI Nov 62.6 manufacturing pick up from 58.4
Crude Inventories 11/26 3.932M inventory good for lower prices -6.219M
The Bad
Auto Sales Dec too bad for Obama to admit 4.27M
Truck Sales Dec too bad for Obama to admit A 5.84M
Hourly Earnings Nov -0.1% down from 0.2%
ADP Employment Change Nov 206K fewer got jobs down from 110K
Initial Claims 11/26 402K more loosing jobs from 393K
Continuing Claims 11/19 3740K more unemployed from 3691K
Productivity-Rev. Q3 2.3% down from 3.1%
New Home Sales Oct 307K down from 313K
Challenger Job Cuts Nov -12.8% unchanged 12.6%
The indifferent
Average Workweek Nov 34.3 no change from 34.3
Nonfarm Payrolls Nov 120K a few more jobs created 80K amid massive layoffs
Nonfarm Private Payrolls Nov 140K private jobs created 104K
MBA Mortgage Index 11/26 winter slowdown from -1.2%
Unit Labor Costs Q3 -2.5% unchanged -2.4%
Case-Shiller 20-city Index Sep -3.6% down less than -3.80%
This Week
So far
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Today
Dec 7 7:00 AM MBA Mortgage Index 12/03
Dec 7 10:30 AM Crude Inventories 12/03
Dec 7 3:00 PM Consumer Credit Oct
Coming
Dec 8 8:30 AM Initial Claims 12/03
Dec 8 8:30 AM Continuing Claims 11/26
Dec 8 10:00 AM Wholesale Inventories Oct
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama thinks he will not get re-elected if unemployment is greater than 9%
Market outlook December 7, 2011
Stocks still hover near recent highs. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Real estate has bottomed out but will not take off until 2013 provided Obama and his leftist supporters are all thrown out of office.
Market vector is predicting the same type of short term rally we have been talking about: Select stock index data, then stock index daily, then the market index you want.
http://marketvector.com/data/index.htm
There was tremendous cash flow into the market the last two weeks. The coming short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally. But Obama is an economic bummer for the USA and will continue that way because he is an socialist to the very core.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Today Obama had one of his idiot-economists arguing against three businessmen on Squawk Box trying to claim that the bounce in 2009 was due to Obama not the bounce that every comes with every recession. Obama knows how to create corruption with his green spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is not too clever when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama manipulates the government statistics just like communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were up last night. China up 0.3%, Hong Kong up 1.6%, India up 0.4%, and Japan up 1.7%.
European markets are up today in a range 0% to 1.8% half way through their day.
American market futures are up about 0.4% at 8:00 AM EST. They are an unreliable predictor.
Obama does not realize that what the EU is going through is what Obama is setting the USA up to go through in about 7 years and that is to default on debt and hurt everyone with a 50% haircut who owns US Treasuries. The USA needs to throw out the socialist Democrats who believe in spending beyond our means on giving welfare instead of an education in American work ethics.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Greek Prime Minister Lucas Papademos received parliamentary approval for a financial plan that aims to nearly halve next year’s deficit shortfall and possibly allow Greece to remain a member of the EU. The pressure on debtors has declined significantly.
China’s recession risk increased significantly.
Geithner risks USA economy and our children’s future to bail out Europe with US taxpayer dollars. China will benefit from doing nothing to help other countries as they dump inferior products on the world. Chinese computer batteries are said to sell for half the price of American batteries but last 10% the US battery life.
German industrial production rose for the first time in three months as the debt crisis threatens to tip Germany’s large economy into recession.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Holiday consumer spending is up about 5% in the USA and all income bands predict they will purchase much more in 2012 (10 to 40% more). Yet most Americans think Obama is doing a terrible job because he does nothing that helps the American pie grow. Instead American education is run by union leftists who are trying to educate people to pay them higher teacher salaries when the teachers should instead be teaching students how to think intelligently and get off their duffs and make something of themselves. Today’s teachers inspire laziness and incompetence and give students the sense that there is no value in the American values that made America great. Today’s public schools and public employees need an education in the American work ethic so they know how to teach the lazy underclass that work is useful and grows the pie even if they have to start with minimum wage because they got a terrible education due to incompetent leftist teachers in all levels of American education. The lazy and incompetent American government workers need a haircut not a full pension when they have worked only 10 years. They often get state pensions after just 10 years and then want to retire! At least that is true in New England.
Last week
The good
Consumer Confidence Nov 56.0 up sharply from 39.8
FHFA Housing Price Index Sep +0.9% great improvement from -0.1%
Construction Spending Oct 0.8% improved from 0.2%
ISM Index Nov 52.7 good inc in manufacturing from 50.8
Pending Home Sales Oct 10.4% -great improvement from -4.60%
Chicago PMI Nov 62.6 manufacturing pick up from 58.4
Crude Inventories 11/26 3.932M inventory good for lower prices -6.219M
The Bad
Auto Sales Dec too bad for Obama to admit 4.27M
Truck Sales Dec too bad for Obama to admit A 5.84M
Hourly Earnings Nov -0.1% down from 0.2%
ADP Employment Change Nov 206K fewer got jobs down from 110K
Initial Claims 11/26 402K more loosing jobs from 393K
Continuing Claims 11/19 3740K more unemployed from 3691K
Productivity-Rev. Q3 2.3% down from 3.1%
New Home Sales Oct 307K down from 313K
Challenger Job Cuts Nov -12.8% unchanged 12.6%
The indifferent
Average Workweek Nov 34.3 no change from 34.3
Nonfarm Payrolls Nov 120K a few more jobs created 80K amid massive layoffs
Nonfarm Private Payrolls Nov 140K private jobs created 104K
MBA Mortgage Index 11/26 winter slowdown from -1.2%
Unit Labor Costs Q3 -2.5% unchanged -2.4%
Case-Shiller 20-city Index Sep -3.6% down less than -3.80%
This Week
So far
Factory Orders in Oct, -0.4%, down significantly from last month’s +0.3%
ISM Service Sector Nov, 52.0 down from 52.9 last month
Today
Dec 7 7:00 AM MBA Mortgage Index 12/03
Dec 7 10:30 AM Crude Inventories 12/03
Dec 7 3:00 PM Consumer Credit Oct
Coming
Dec 8 8:30 AM Initial Claims 12/03
Dec 8 8:30 AM Continuing Claims 11/26
Dec 8 10:00 AM Wholesale Inventories Oct
Dec 9 8:30 AM Trade Balance Oct
Dec 9 9:55 AM Mich Sentiment Dec
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama thinks he will not get re-elected if unemployment is greater than 9%
Market outlook December 7, 2011
Stocks still hover near recent highs. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Real estate has bottomed out but will not take off until 2013 provided Obama and his leftist supporters are all thrown out of office.
Market vector is predicting the same type of short term rally we have been talking about: Select stock index data, then stock index daily, then the market index you want.
http://marketvector.com/data/index.htm
There was tremendous cash flow into the market the last two weeks. The coming short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales. The sales gains will be reported in January and will probably result in the peak of this intermediate trend rally. But Obama is an economic bummer for the USA and will continue that way because he is an socialist to the very core.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Today Obama had one of his idiot-economists arguing against three businessmen on Squawk Box trying to claim that the bounce in 2009 was due to Obama not the bounce that every comes with every recession. Obama knows how to create corruption with his green spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is not too clever when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama manipulates the government statistics just like communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were up last night. China up 0.3%, Hong Kong up 1.6%, India up 0.4%, and Japan up 1.7%.
European markets are up today in a range 0% to 1.8% half way through their day.
American market futures are up about 0.4% at 8:00 AM EST. They are an unreliable predictor.
Friday, December 2, 2011
Obama should abandon his re-election effort in favor of Hilary Clinton
Obama does not realize that what the EU is going through is what Obama is setting the USA up to do and that is to default on debt and hurt everyone with a 50% haircut who owns US Treasuries in about 7 years. The USA needs to throw out the socialist Democrats who believe in spending beyond our means.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Fitch Ratings downgraded Portugal’s government credit rating to junk bond status
European Banking Authority may ask German lenders to boost their capital level by more than $16 billion as the regulator reviews their ability to withstand losses from the sovereign-debt crisis.
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are said to be swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Last week
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
GDP - Second Estimate Q3 2.0% dropped from 2.5%
GDP Deflator - Second Estimate Q3 2.5% unchanged from 2.5%
That means inflation adjusted GDP dropped from 0% to –0.5%
MBA Mortgage Index 11/19 -1.2% much improved from previous -10.0%
Initial Claims 11/19 393K up slightly from 388K
Continuing Claims 11/12 3691K up significantly from 3608K
Personal Income Oct 0.4% up from 0.1%
Personal Spending Oct 0.1% down sharply from 0.6%
PCE Prices - Core Oct 0.1% up slightly from 0.0%
Durable Orders Oct -0.7% down slightly from -0.6%
Durable Orders -ex Transportation Oct 0.7% down sharply from 1.8%
Michigan Sentiment - Final Nov 64.1 down slightly from 64.2
Crude Inventories 11/19 -6.219M down sharply from -1.056M
This week
The good
Consumer Confidence Nov 56.0 up sharply from 39.8
FHFA Housing Price Index Sep +0.9% great improvement from -0.1%
Construction Spending Oct 0.8% improved from 0.2%
ISM Index Nov 52.7 good inc in manufacturing from 50.8
Pending Home Sales Oct 10.4% -great improvement from -4.60%
Chicago PMI Nov 62.6 manufacturing pick up from 58.4
Crude Inventories 11/26 3.932M inventory good for lower prices -6.219M
The Bad
Auto Sales Dec too bad for Obama to admit 4.27M
Truck Sales Dec too bad for Obama to admit A 5.84M
Hourly Earnings Nov -0.1% down from 0.2%
ADP Employment Change Nov 206K fewer got jobs down from 110K
Initial Claims 11/26 402K more loosing jobs from 393K
Continuing Claims 11/19 3740K more unemployed from 3691K
Productivity-Rev. Q3 2.3% down from 3.1%
New Home Sales Oct 307K down from 313K
Challenger Job Cuts Nov -12.8% unchanged 12.6%
The indifferent
Average Workweek Nov 34.3 no change from 34.3
Nonfarm Payrolls Nov 120K a few more jobs created 80K amid massive layoffs
Nonfarm Private Payrolls Nov 140K private jobs created 104K
MBA Mortgage Index 11/26 winter slowdown from -1.2%
Unit Labor Costs Q3 -2.5% unchanged -2.4%
Case-Shiller 20-city Index Sep -3.6% down less than -3.80%
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama said he should not get re-elected if unemployment is greater than 9%
Market outlook December 2, 2011
Stocks hover near recent highs. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
There was tremendous cash flow into the market this week. The coming short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Today Obama had one of his idiot-economists arguing against three businessmen on Squawk Box trying to claim that the bounce in 2009 was due to Obama not the bounce that every recession has. Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron and has to manipulate the government statistics like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were up last night. China down –1.1%, Hong Kong up 0.2%, India up 2.2%, and Japan up 0.5%.
European markets are up today in a range 0.6% to 1.7% half way through their day.
American market futures are up about 1% at 8:00 AM EST. They are an unreliable predictor.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Fitch Ratings downgraded Portugal’s government credit rating to junk bond status
European Banking Authority may ask German lenders to boost their capital level by more than $16 billion as the regulator reviews their ability to withstand losses from the sovereign-debt crisis.
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are said to be swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Last week
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
GDP - Second Estimate Q3 2.0% dropped from 2.5%
GDP Deflator - Second Estimate Q3 2.5% unchanged from 2.5%
That means inflation adjusted GDP dropped from 0% to –0.5%
MBA Mortgage Index 11/19 -1.2% much improved from previous -10.0%
Initial Claims 11/19 393K up slightly from 388K
Continuing Claims 11/12 3691K up significantly from 3608K
Personal Income Oct 0.4% up from 0.1%
Personal Spending Oct 0.1% down sharply from 0.6%
PCE Prices - Core Oct 0.1% up slightly from 0.0%
Durable Orders Oct -0.7% down slightly from -0.6%
Durable Orders -ex Transportation Oct 0.7% down sharply from 1.8%
Michigan Sentiment - Final Nov 64.1 down slightly from 64.2
Crude Inventories 11/19 -6.219M down sharply from -1.056M
This week
The good
Consumer Confidence Nov 56.0 up sharply from 39.8
FHFA Housing Price Index Sep +0.9% great improvement from -0.1%
Construction Spending Oct 0.8% improved from 0.2%
ISM Index Nov 52.7 good inc in manufacturing from 50.8
Pending Home Sales Oct 10.4% -great improvement from -4.60%
Chicago PMI Nov 62.6 manufacturing pick up from 58.4
Crude Inventories 11/26 3.932M inventory good for lower prices -6.219M
The Bad
Auto Sales Dec too bad for Obama to admit 4.27M
Truck Sales Dec too bad for Obama to admit A 5.84M
Hourly Earnings Nov -0.1% down from 0.2%
ADP Employment Change Nov 206K fewer got jobs down from 110K
Initial Claims 11/26 402K more loosing jobs from 393K
Continuing Claims 11/19 3740K more unemployed from 3691K
Productivity-Rev. Q3 2.3% down from 3.1%
New Home Sales Oct 307K down from 313K
Challenger Job Cuts Nov -12.8% unchanged 12.6%
The indifferent
Average Workweek Nov 34.3 no change from 34.3
Nonfarm Payrolls Nov 120K a few more jobs created 80K amid massive layoffs
Nonfarm Private Payrolls Nov 140K private jobs created 104K
MBA Mortgage Index 11/26 winter slowdown from -1.2%
Unit Labor Costs Q3 -2.5% unchanged -2.4%
Case-Shiller 20-city Index Sep -3.6% down less than -3.80%
The Obama lies
Unemployment Rate Nov 8.6% Obama communist style lies say unemployment down from 9.0%. That is because Obama said he should not get re-elected if unemployment is greater than 9%
Market outlook December 2, 2011
Stocks hover near recent highs. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
There was tremendous cash flow into the market this week. The coming short squeeze will probably come within 60 days and it is good to take profits in stocks with good runs and buy into stocks and sectors/indexes that are low and that will benefit from a good year end run-up in sales.
The housing market has stabilized but is still near the bottom. Many are predicting a real estate come back next year.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Today Obama had one of his idiot-economists arguing against three businessmen on Squawk Box trying to claim that the bounce in 2009 was due to Obama not the bounce that every recession has. Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron and has to manipulate the government statistics like all communists do to pretend things are getting better.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical upside resistance level now and it needs a breakout so the advance resumes and triggers a short squeeze that could rum stocks up close to previous highs of this year. That will be the time to get back into cash. Complacency has not set in at all yet. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced once over 60% of the total recent decline and predict we could possibly have as much as 95% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were up last night. China down –1.1%, Hong Kong up 0.2%, India up 2.2%, and Japan up 0.5%.
European markets are up today in a range 0.6% to 1.7% half way through their day.
American market futures are up about 1% at 8:00 AM EST. They are an unreliable predictor.
Thursday, November 24, 2011
both said Obama should abandon his re-election effort in favor of Hilary Clinton
Obama does not realize that what the EU is going through is what Obama is setting the USA up to do and that is to default on debt and hurt everyone with a 50% haircut who owns US Treasuries in about 7 years. The USA needs to throw out the socialist Democrats who believe in spending beyond our means.
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Fitch Ratings downgraded Portugal’s government credit rating to junk bond status
European Banking Authority may ask German lenders to boost their capital level by more than $16 billion as the regulator reviews their ability to withstand losses from the sovereign-debt crisis.
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are said to be swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
This Week
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
GDP - Second Estimate Q3 2.0% dropped from 2.5%
GDP Deflator - Second Estimate Q3 2.5% unchanged from 2.5%
That means inflation adjusted GDP dropped from 0% to –0.5%
MBA Mortgage Index 11/19 -1.2% much improved from previous -10.0%
Initial Claims 11/19 393K up slightly from 388K
Continuing Claims 11/12 3691K up significantly from 3608K
Personal Income Oct 0.4% up from 0.1%
Personal Spending Oct 0.1% down sharply from 0.6%
PCE Prices - Core Oct 0.1% up slightly from 0.0%
Durable Orders Oct -0.7% down slightly from -0.6%
Durable Orders -ex Transportation Oct 0.7% down sharply from 1.8%
Michigan Sentiment - Final Nov 64.1 down slightly from 64.2
Crude Inventories 11/19 -6.219M down sharply from -1.056M
Market outlook November 25, 2011
Stocks hover above recent lows. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
The recent bear attack on the US markets yesterday was weak on low volume and we are well above this years low. The bounce was weak also.
The housing market has stabilized but is still near the bottom.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical downside resistance level now and it needs to bounce before the advance resumes. Complacency has not set in. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced over 60% of the total recent decline recently and predict we could possibly have as much as 90% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Patrick Caddell, who was a pollster to former President Jimmy Carter, and Douglas Schoen, who worked for Bill Clinton, both said Obama should abandon his re-election effort in favor of Hilary Clinton, in an opinion piece in the Nov. 21 edition of the Wall Street Journal. They both said that Hillary Clinton is “the only leader capable of uniting the country.”
World markets
Fitch Ratings downgraded Portugal’s government credit rating to junk bond status
European Banking Authority may ask German lenders to boost their capital level by more than $16 billion as the regulator reviews their ability to withstand losses from the sovereign-debt crisis.
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are said to be swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
This Week
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
GDP - Second Estimate Q3 2.0% dropped from 2.5%
GDP Deflator - Second Estimate Q3 2.5% unchanged from 2.5%
That means inflation adjusted GDP dropped from 0% to –0.5%
MBA Mortgage Index 11/19 -1.2% much improved from previous -10.0%
Initial Claims 11/19 393K up slightly from 388K
Continuing Claims 11/12 3691K up significantly from 3608K
Personal Income Oct 0.4% up from 0.1%
Personal Spending Oct 0.1% down sharply from 0.6%
PCE Prices - Core Oct 0.1% up slightly from 0.0%
Durable Orders Oct -0.7% down slightly from -0.6%
Durable Orders -ex Transportation Oct 0.7% down sharply from 1.8%
Michigan Sentiment - Final Nov 64.1 down slightly from 64.2
Crude Inventories 11/19 -6.219M down sharply from -1.056M
Market outlook November 25, 2011
Stocks hover above recent lows. The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
The recent bear attack on the US markets yesterday was weak on low volume and we are well above this years low. The bounce was weak also.
The housing market has stabilized but is still near the bottom.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical downside resistance level now and it needs to bounce before the advance resumes. Complacency has not set in. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced over 60% of the total recent decline recently and predict we could possibly have as much as 90% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Tuesday, November 22, 2011
"Hank" Greenberg just sued the U.S. and the Federal Reserve Bank of New York
"Hank" Greenberg, the former chief executive of American International Group Inc, just sued the U.S. and the Federal Reserve Bank of New York on behalf of Starr International Co. and other AIG shareholders. The lawsuits accused the Treasury Department and New York Fed of wrongly taking control of the insurer and using it as a vehicle to funnel tens of billions of dollars to AIG's trading partners, which included large U.S. and European banks. That means the Democrat Obama Administration used US taxpayer money to illegally bail out EU banks.
MF Global shortfall of organized crime payoffs could top $1.2 Billion in missing cash from customer accounts at MF Global's brokerage unit, more than double the previous estimate for the democrat fraud..
U.S. District Judge Christopher C. Conner said Hussein Obama's plan to require individual Americans to obtain health insurance or pay a penalty (a key pillar of his health-care legislation), is unconstitutional. The 53-page opinion said that the federal government did not give it the authority to compel individual citizens to purchase products against their will. The lawsuit was filed by a married couple against Health and Human Services Secretary Kathleen Sebelius, asking that the law be overturned. The couple said they dropped their health-care coverage because of the expense was more than their monthly mortgage payments.
There was a big difference between the FDR administration, the Truman administration and the Obama administration. They each said they faced a do-nothing Congresses but FDR and Truman were not corrupt. The Obama morons think the EU problem is like the USA problem and can be fixed by spending EU taxpayer earnings on new debt. The Obama morons do not realize Europe is ten years ahead of Obama in their debt run-up and Obama is doing the same stupid debt run-up the EU and Japan did that got them into their messes. Europe is going through what the USA will go through if Obama continues to flush the wealth of America down his toilet bowl. The current American problem consists of Obama deficits plus the overhang of defaulted mortgages from when Dodd and Frank introduced corruption through Fanny and Freddie.
Former Olympus Corp. President Michael C. Woodford disclosed that hundreds of millions of dollars in forged advisory fees were paid by the Japanese company Gyrus Group Plc in 2008. Woodward was fired when he discovered the crimes. Olympus, then denied there was any wrongdoing involving $687 million in advisory fees paid on the $2,000 million (34%) acquisition but now admits it put inflated fees on the books to hide company losses and deceive investors. Olympus last week admitted that three executives colluded to hide losses from investors. Japanese officials are investigating whether Olympus worked with organized crime to hide billions of dollars of losses, the New York Times reported. At least $4.2 billion remains unaccounted for, according to the report. That sounds like the same socialist MOB the former Democrat Governor of NJ (Jon Corzine) hung around with when he
stole $700 million dollars from MF Global. It’s the mob. Socialists say they are smarter than anyone else and “What is mine is mine and what is yours is mine to parcel out to you if you shut up and do what you are told.
Cloud storage is the greatest threat of loss to free world technology. America should be requiring that corporate technology be kept on closed systems with notification to corporate security when employees attempt to put corporate secrets on USB drives. Communist and socialist hackers will be able to steal data and then corrupt the cloud files
William Shternfeld, who pleaded guilty to conspiring to cheat investors with a fake hedge fund, was sentenced today to five years and three months in prison. West End Financial Founder Landberg Pleads Guilty to U.S. Securities Fraud.
World markets
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Last Week
Empire Manufacturing Nov 0.61 up significantly from -8.48 very good
Business Inventories Sep 0.0% dropped from 0.5% very good
Net long-term TIC Flows Sep $68.6B up from $57.9B good foreign investment in US
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Yesterday
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
Today
Nov 22 8:30 AM GDP - Second Estimate Q3
Nov 22 8:30 AM GDP Deflator - Second Estimate Q3
Nov 22 2:00 PM FOMC Minutes Nov. 2
This Week
Nov 23 7:00 AM MBA Mortgage Index 11/19
Nov 23 8:30 AM Initial Claims 11/19
Nov 23 8:30 AM Continuing Claims 11/12
Nov 23 8:30 AM Personal Income Oct
Nov 23 8:30 AM Personal Spending Oct
Nov 23 8:30 AM PCE Prices - Core Oct
Nov 23 8:30 AM Durable Orders Oct
Nov 23 8:30 AM Durable Orders -ex Transportation Oct
Nov 23 9:55 AM Michigan Sentiment
Nov 23 10:30 AM Crude Inventories 11/19
Market outlook November 221, 2011
The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
What we expect a rally today. The bear attack on the US markets yesterday was weak on low volume and we are well above this years low. The bounce was weak also.
The housing market has stabilized but is still near the bottom.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical downside resistance level now and it needs to bounce before the advance resumes. Complacency has not set in. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced over 60% of the total recent decline recently and predict we could possibly have as much as 90% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were stable last night. China down –0.1%, Hong Kong up 0.1%, India up 0.8%, and Japan down -0.6%.
European markets are up today in a range 0.3% to 0.8% half way through their day.
American market futures are up about 0.4% at 8:00 AM EST. They are an unreliable predictor.
MF Global shortfall of organized crime payoffs could top $1.2 Billion in missing cash from customer accounts at MF Global's brokerage unit, more than double the previous estimate for the democrat fraud..
U.S. District Judge Christopher C. Conner said Hussein Obama's plan to require individual Americans to obtain health insurance or pay a penalty (a key pillar of his health-care legislation), is unconstitutional. The 53-page opinion said that the federal government did not give it the authority to compel individual citizens to purchase products against their will. The lawsuit was filed by a married couple against Health and Human Services Secretary Kathleen Sebelius, asking that the law be overturned. The couple said they dropped their health-care coverage because of the expense was more than their monthly mortgage payments.
There was a big difference between the FDR administration, the Truman administration and the Obama administration. They each said they faced a do-nothing Congresses but FDR and Truman were not corrupt. The Obama morons think the EU problem is like the USA problem and can be fixed by spending EU taxpayer earnings on new debt. The Obama morons do not realize Europe is ten years ahead of Obama in their debt run-up and Obama is doing the same stupid debt run-up the EU and Japan did that got them into their messes. Europe is going through what the USA will go through if Obama continues to flush the wealth of America down his toilet bowl. The current American problem consists of Obama deficits plus the overhang of defaulted mortgages from when Dodd and Frank introduced corruption through Fanny and Freddie.
Former Olympus Corp. President Michael C. Woodford disclosed that hundreds of millions of dollars in forged advisory fees were paid by the Japanese company Gyrus Group Plc in 2008. Woodward was fired when he discovered the crimes. Olympus, then denied there was any wrongdoing involving $687 million in advisory fees paid on the $2,000 million (34%) acquisition but now admits it put inflated fees on the books to hide company losses and deceive investors. Olympus last week admitted that three executives colluded to hide losses from investors. Japanese officials are investigating whether Olympus worked with organized crime to hide billions of dollars of losses, the New York Times reported. At least $4.2 billion remains unaccounted for, according to the report. That sounds like the same socialist MOB the former Democrat Governor of NJ (Jon Corzine) hung around with when he
stole $700 million dollars from MF Global. It’s the mob. Socialists say they are smarter than anyone else and “What is mine is mine and what is yours is mine to parcel out to you if you shut up and do what you are told.
Cloud storage is the greatest threat of loss to free world technology. America should be requiring that corporate technology be kept on closed systems with notification to corporate security when employees attempt to put corporate secrets on USB drives. Communist and socialist hackers will be able to steal data and then corrupt the cloud files
William Shternfeld, who pleaded guilty to conspiring to cheat investors with a fake hedge fund, was sentenced today to five years and three months in prison. West End Financial Founder Landberg Pleads Guilty to U.S. Securities Fraud.
World markets
India’s rupee fell to a record 14.6 percent the worst- performing among Asia-Pacific’s 10 most-traded currencies and will also spur inflation and increase gasoline subsidy costs in a nation that imports 80 percent of its fuel.
European banks are swapping worthless assets at full value to keep the illusion that they have the real cash not the accumulated losses. The USA banks did the same thing before the implosion by swapping worthless defaulting mortgage based derivative paper. By trading worthless paper that way, they do not have to recognize the true loss.
China double bounced. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany bounced: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart1:symbol=^gdaxi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss bounced. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets double bounce.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
Last Week
Empire Manufacturing Nov 0.61 up significantly from -8.48 very good
Business Inventories Sep 0.0% dropped from 0.5% very good
Net long-term TIC Flows Sep $68.6B up from $57.9B good foreign investment in US
Industrial Production Oct 0.7% up from 0.2% very positive
Capacity Utilization Oct 77.8% up 77.4% good sign
Initial Claims 11/12 388K dropped from 390K very good
Continuing Claims 11/05 3608K dropped from 3615K good
Building Permits Oct 653K up from 594K seasonal correction expected drop number but instead it went up. Very good
Leading Indicators Oct were up 0.9 from 0.2 last month very good, starting Christmas before Halloween seems to be working.
Yesterday
Existing Home Sales Oct was 4.97 M up from 4.91M, very good
Today
Nov 22 8:30 AM GDP - Second Estimate Q3
Nov 22 8:30 AM GDP Deflator - Second Estimate Q3
Nov 22 2:00 PM FOMC Minutes Nov. 2
This Week
Nov 23 7:00 AM MBA Mortgage Index 11/19
Nov 23 8:30 AM Initial Claims 11/19
Nov 23 8:30 AM Continuing Claims 11/12
Nov 23 8:30 AM Personal Income Oct
Nov 23 8:30 AM Personal Spending Oct
Nov 23 8:30 AM PCE Prices - Core Oct
Nov 23 8:30 AM Durable Orders Oct
Nov 23 8:30 AM Durable Orders -ex Transportation Oct
Nov 23 9:55 AM Michigan Sentiment
Nov 23 10:30 AM Crude Inventories 11/19
Market outlook November 221, 2011
The US and the world economy will not likely slip back into a recession until early next year under current trends in Obama incompetence. Obama cannot apparently destroy America without outside assistance. Market vector is predicting the same type of rally we have been talking about: Select stock index data, then stock index daily, then the index you want.
http://marketvector.com/data/index.htm
What we expect a rally today. The bear attack on the US markets yesterday was weak on low volume and we are well above this years low. The bounce was weak also.
The housing market has stabilized but is still near the bottom.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
Obama knows how to create corruption with his spending and is pushing for an obscene $1Billion Presidential campaign fund, but he is too dumb when it comes to creating new jobs such as building the oil pipeline from Canada that would create heavy industry jobs and cut American production costs making the USA more competitive. When it comes to jobs, Obama is a moron.
http://www.martincapital.com/index.php?page=graph&view=unemployment
We are at the critical downside resistance level now and it needs to bounce before the advance resumes. Complacency has not set in. We are now climbing the well-known bull market wall of fear. There is still just not much short seller fear at this point. We have not had the shorts squeezed out of the market yet. Look how low the VIX has to go before the market top is hit! A level as low as 20 would indicate complacency and the end of the bull market.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We advanced over 60% of the total recent decline recently and predict we could possibly have as much as 90% recovery. Market Vector agrees with us. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. View 6 mos. See: http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart1:symbol=^nya;range=6m;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Demand from Asia should be sufficient for increased volumes even if the Euro crisis leads to a collapse in European sales, per Bremerhaven BLG analysis: Insert into explorer.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were stable last night. China down –0.1%, Hong Kong up 0.1%, India up 0.8%, and Japan down -0.6%.
European markets are up today in a range 0.3% to 0.8% half way through their day.
American market futures are up about 0.4% at 8:00 AM EST. They are an unreliable predictor.
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