SPX TRADING RANGE

Price is just under the simple 50 day moving avg and has recently consolidated above the downtrend line. With the VIX not signalling fear and low summer volumes, the June lows and the July highs still stand. Stocks seem to only move from each new headline, on CHina, Euro, or JPM....or what the fed's next move may be. I don't doubt that stocks could move higher here, the lower range held again on recnt decline, but there isn't a strong conviction of buyers either seen by breadth or volume.

The next larger degree move IMHO will be down, only question in my ind is if a summer rally can unfold to new highs first

PC SALES CONTINUE TO EBB

SAN FRANCISCO (AP) -- Personal computer sales sagged during the spring as shifting technology trends, upcoming product releases and a shaky economy dampened demand for the machines currently on the market.
The second-quarter decline in the U.S. ranged from 6 percent to 11 percent compared with the same time last year, according to separate reports released Wednesday by Gartner Inc. and International Data Corp. Gartner came up with the lower of the two figures in the research firms' quarterly look at shipments of desktop and laptop computers.
http://finance.yahoo.com/news/pc-sales-fall-6-pct-225244033.html

ROUBINI PERFECT STORM VIEDO

http://www.bloomberg.com/video/roubini-2013-perfect-storm-may-surpass-2008-crisis-_n0veqyhR2iioq1q6MySFQ.html

PROFIT WARNINGS

By Caroline Valetkevitch

NEW YORK (Reuters) - Stocks fell for a fourth day on Tuesday as more pessimism from companies compounded worries the sluggish world economy is taking a toll on profit growth.
A sales warning from engine maker Cummins Inc (CMI) came on top of earlier weak forecasts from chipmakers Applied Materials Inc (AMAT) and Advanced Micro Devices (AMD), causing the market to extend losses in afternoon trading.

Remember the asswipe who said "dangerous not to be in stocks" what a major PUTZ MONKEY, stocks "could" rise, but that is still a rather reckless statement to make.

That said, stocks continue their CHOP......keep in mind, betwwen early 2007-2008.....early warnings and a lack of sharp selloff led the lambs to slaughter.

HOW LONG can THE FED WILL SAVE US, MORE QE whatever keep having any effect at all.

D

PURE GENIUS

http://finance.yahoo.com/news/biggest-danger-now-not-being-074252794.html
"Not being invested in equities right now is one of the "most dangerous" things to do, according to Jack Bouroudjian, CEO of Bull and Bear Partners, who believes U.S. companies will beat Wall Street's estimates for second-quarter earnings.

Corporate America is "richer than ever before" and consumers have more disposable cash because of recent lower oil prices, Bouroudjian told CNBC on Tuesday, adding that the extra cash will boost earnings and bode well for stocks in the next few years. "

Mark it down, he's on record......certainly stocks are not over valued? but certainly in bonds you get NO yield..it's fixed

D

"PERFECT STORM SCENARIO"

"Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.
http://finance.yahoo.com/news/roubini-perfect-storm-unfolding-now-104907590.html

WEAK JOBS REPORT

Stocks are weak out the gate and continue so in a certain to be light trading session. blue arrow points to break of downtrend line, now will the decline hold above that break?

We lost over 8 million jobs, got back maybe 4 million. Majority of those seeking employment have been looking for 6 months or more. Many others are under employed, yet we are to believe gov't stats that say avg wages rose .3%?? Prior months weak jobs report was revised down about 10,000.

Are we creating 80,000 jobs? It takes near 200,000 to absorb any unemployed, not just new entrants into workforce pool. NO construction jobs were created, this report could get revised next report.

Blacks suffer more with over 14% unemployed, teens 25%.

SPX READJUST CHART

With breakout from June high, this alternative target may be in play. SPX 1450 target before ultimate plunge. VIX near 16 and falling

D

ISM SHOWS CONTRACTION

SO why would market keep rally going? Hoping for FED more QE3 and beyond...

D

CHINESE FACTORY OUTPUT DECLINES

HONG KONG (MarketWatch) — "Chinese manufacturing activity deteriorated at a faster clip in June than a month earlier, as new-order bookings and employment declined further, according to the final result of a survey by HSBC released Monday.
The final reading of HSBC’s China manufacturing Purchasing Managers’ Index for June dropped to 48.2 from 48.4 in May, indicating that business conditions worsened at Chinese factories"

SO, let me get this straight, the US is going to be that one shining star?

D

LATEST FROM DR MARTIN ARMSTRONG "HOW DO EMPIRES DIE"

GOLD TO STRATOSPHERE

Dr Martin Armstrong:
 http://www.inflateordie.com/files/How%20Do%20Empires%20Die%2006-17-2012.pdf

>>During economic crisis, money is hoarded. People curtail their spending to survive. Grover Cleveland addressed the Congress in a Special Session where he criticized his own party stating: <<
"At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency - is practically defenseless. He relies for work upon the ventures of confident and contented capital. This failing him, his condition is without alleviation, for he can neither prey on the misfortunes of others nor hoard his labour."

"CONSUMER SPENDING STALLS"

http://www.bloomberg.com/news/2012-06-29/u-s-consumer-spending-unchanged-in-may-weakest-in-six-months.html

The data are “consistent with a weakening growth backdrop,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC in New York. “There’s still this propensity for consumers to boost their rate of savings, which is what you’d expect in an environment where they are very skeptical about the outlook for the labor market.”

What most people focus on are the day to day swings, brainless commentary and the nauseating headlines. WHoopie Euro zone has another plan, hey but this is a NEW NEW one for bailing out the banking system, well HOORAY that must fix everything, where's all that money coming from to do the bailing out? SEE GOLD JUMPS

Recent manufacturing data shows trouble ahead, as back orders get eaten into, consumer confidence flags, well it never relly recovered much, UNLIKE ANY OTHER so called recovery. SO it looks like we are headed for another Recession, even though we haven't had much of a recovery.

Heading itno 2014, Defense spending has been SLASHED (so they say) and will result in the loss of about 1 MILLION jobs, over 100,000 of those in manufacturing.

The world markets appear to be in bear markets, so JUST the US will do just fine right, as we are so much better and we keep hearing how great corporate profits are.

DONT KID YOURSELF, BE PREPARED......the bag holding continues as with each little rally hope springs eternal, but for those who want to UNLOAD to YOU the again unsuspecting bag holder who can least afford to see his stock portfolio drop by 50%...again.

THINK about the current 0% rate environment, about the coming changes in tax law and Gov't spending. THE PIPER has yet to be paid, daggonit, and all we get are the same song and dance, same stupid policies, SOS

D

MORNING SET UP

SPX futures up 26 plus, DEal for ANOTHER EURO BANK BAIL OUT inked last night, WEEEE.

Now you know how fair the markets are to the avg Joe and why the rally began "mysteriously" yesterday at 3 PM recovering from triple digit losses.

There is more going on then continued money printing and bailouts....cannot PAPER over the issues for long.

D

PULLING , PUSHING, TUGGING ON A STRING

"Just as Keynes warned would happen, Bernanke has found himself pushing on a string. No matter how much liquidity the Fed pumps into the economy, it doesn't seem to make much difference. With mortgage rates well below 4%, the housing market remains depressed. With borrowing costs at record lows, corporations sit on cash and refuse to invest in plant and equipment. In circumstances such as these, an expansionary monetary policy doesn't necessarily ensure a vigorous recovery. That is why modern Keynesians, of whom Bernanke is one, also favor fiscal stimulus."

http://finance.fortune.cnn.com/2012/06/28/bernanke-trapped/?iid=HP_LN full story

The ADM claims it has saved or created 3 MILLION jobs in 4 years, at a cost of over $2 TRILLION in Govt and FED actions, the cost oer job is around $800,000 !!!

Was it worth it? Of course not, it's a waste of our resources and hasn't help grow the economy much.

EUROPE seems to be hanging by a thread, is this the time to be complacent?

D

ANOTHER FAVORITE CHART LOOKING FOR THE TREND

HEDGING GONE WRONG, FALLING OIL HURTS AIRLINES!!

http://finance.yahoo.com/news/hedges-bust-airlines-hit-crude-194422293.html
"Delta Air Lines, which Tuesday morning announced that busted fuel hedges had resulted in a $155 million second-quarter loss, became the first in what could be a series of major carriers to take pain from an unexpected plunge in crude prices."

BDI IN SOLID DOWNTREND

Lots has been made out of the BDI, many say it doesn't mean anything, because more ships now in fleet, etc. I happen to not agree, the BDI does not reflect a thriving world economy, if it did , rates would be in solid uptrend.

D

SOMETIMES TALK IS ALL THAT IS LEFT

"Not only does Ben Bernanke walk a thin tightrope above Wall Street and Congress, he does so while jawboning the entire audience across the gorge."
http://wallstcheatsheet.com/stocks/how-much-longer-can-the-fed-jawbone-markets.html/?ref=SBMP

Nearly 4 years into recovery, we still have unemployment over 8%, and an economy not producing enough jobs, and economy limping along, not collapsing, but not in any way similar to the historical norms. The recovery will go down as weakest in history on almost all data points.

The FED may still be able to goose the stock market, but each time, they do or say something the effects wear thin in shorter durations, less bang for buck...pulling on a string, law of diminishing returns.

The market may be worried about 2013, when Bush tax cuts fade away, can the Gov't continue to support these policies any longer?

We have that ONE THING that others do not have, the RESERVE CURRENCY, job #1 of the FED is supposed to be protecting the currency, keeping it stable. Instead the printing presses have gone full bore since 2008-2009. The ONLY thing keeping the greenback from an all out tailspin is EUROPE appears worse. That's how they have FED manipulated the bond yields to record lows including operations like TWIST where they become buyers of Treasuries to pin rates lower with false demand, FEAR and still seen as SAFE HAVEN.

But current yields are destroying balance in the economy, killing returns for millions of savers ans seniors, who until the low yields reached near 0%, they did SPEND those returns, now they cannot.

DO we want a $5 tip to become a $425 tip in inflated ass wipe paper? That's what it equals in Jamaican currency now.

Taxes and fees are slated to rise, at the STATE level they already are. We are becoming a class of poor and rich as the middle class get contunally squeezed, this is not the best scenario for our country.

Obama's policies have been a failure, and Bush's previous spending and recklessness lit the fuse.....does it really matter who runs the WHite House at this point?

D

BACK

Been out of the country, in Jamaica man. Went from 100 degrees to 91 degrees, the people are so nice, first time back in 30 years.

On the stock market front, not much has changed, we're in a trading zone but I haven't changed my mind that the larger degree trend is BEAR. More later when I catch up in the week.

D

"BAKED IN EFFICIENCY"

"All governments claim to revere productivity, but in the U.S. and Europe, they are going the wrong way about getting it. Subsidizing the useless (including the ineffable rat holes of the “green energy” sector) while taxing the productive, and keeping interest rates for years on end at levels that penalize the thrifty, cannot be expected to produce higher productivity and is not doing so. While current policies persist, those regions’ economic decline will continue."

http://prudentbear.com/index.php/thebearslairview?art_id=10677

by Martin Hutchinson

HAS MARKET BROKEN OUT OF DOWNTREND?

In the short term, maybe and it's all based on GREEK HOPE.
Could be false breakout if reversed Monday, more Resistance near 1348

D

NEWS A DOSE OF

http://finance.yahoo.com/news/global-recession-warning-signs-everywhere-201200023.html

http://finance.yahoo.com/news/credit-crisis-stock-telling-markets-173254418.html   CS bank has now fallen below levels seen 2009.

And finally, when will news or HOPE of FED OR CB action bring the mkt back?

Wall Street Ends Higher on Possible Central Bank Action News

Reuters
Stocks rose on Thursday after news major central banks are preparing coordinated action if the results of Greek elections this weekend generate turmoil in financial markets.

SPX NEAR 1250 MUST HOLD

EXPERTS WEIGH IN

"NEW YORK (CNNMoney) -- It's been a hot and cold year for stocks so far, but Wall Street experts are optimistic that the market will emerge from its recent funk to end the year with solid gains. "

BACK UP?

From my prior chart of the SP 500 you can see a possible reverse head and shoulders forming with neckline at 1335 area.

D

MARKET SET UP

LOW EXPECTATIONS?

Low Expectations May Offer More Market Opportunity

Breakout
"Right now, the market has easy hurdles to meet," says Jack Ablin, the CIO at Harris Private Bank. "Valuations are certainly expecting the worst and psychology and investors' attitudes are pretty low." More »Low Expectations May Offer More Market Opportunity

A VIX at 23 IMHO does not show investor fear, volume rises with declines and whithers on rallies, who doesn't think we have had distribution going on during the "rallies"?

D

ALCOA WARNS WE ARE "IN" A BEAR MARKET

This time the general stock market is holding up a bit better, but interest rates were not at 0% yet in 2008.

D

OH, WHAT A RELIEF IT ISN'T

EU’s €100 Billion Bailout Not Enough to Buy a Relief Rally

Monday's are great for gap ups, but once in awhile they don't last. Continued money printing, laundering or out of thin air, does nothing to create jobs.

We are coming down from a sugar high, and it doens't feel that great. NEEDED rebalancing from years and years of credit glut excesses, and FED goosing, and imbalances have been fought tooth and claw....making the inevitable, just delayed and perhaps worse.

D

BEAR BOUNCE OR?

We still see expanding volume on the delcines, and whithering volume on the bounces. My analysis and my feet on the street observations say chinese water torture.

D

FETID ARTICLE FOR THE MASSES

http://finance.yahoo.com/news/u-debt-load-falling-fastest-040045522.html

Surely gov't debt is falling at fastest rate......defaults and writedowns probably have nothing to do with it, and further more, I have hard time swalloing this with the way the Federal deficit has been skyrocketing, I think this article is pure BS

D

CLOSE UP OF SPX MARKET ACTION

IF ECONOMY WEAKENS?

Bernanke: Fed Could Act if Economy Weakens

AP
"Chairman Ben Bernanke says the Federal Reserve is prepared to take further steps if the U.S. economy weakens, but he didn't signal any action is imminent."

China just lowered rate by .25% to stimulate......hmmmm stimulate demand? certainly not jobs as there is OVER CAPACITY  in the world economies...

D

TRANSPORTS CONFIRM OVERALL MARKET WEAKNESS

When I had originally set up this chart I labeled it "bearish broadening wedge" for the transports and indeed 'WATCH THE 200" as it now has broken down and the action is below the 200, as it is for the SPX and DOW.

I used here an EXPONENTIAL MA which puts more emphasis on recent action.

D

ANOTHER LEADER FALLS BELOW 200 DAY MOVING AVG

Also the fear index the VIX has broken out above its 200 and 400 DMA. MORE SIGNS HE BEAR IS BACK.

US DOLLAR RALLY STALLING?

On the monthly chart it cetainly has me leaning a $ rally retrace may be near, and I am wondering if with that will come a US stock rally.....FED meets next week....usually they find a way to goose the markets....I mean that seems to be their number one job

D

COUNTER

After 8 years of blogging, and the changes in google analytics I added a counter to track traffic to my site. SO...when I arrived today it was 30....so....not 30 over 8 years.. haa

D

AVALANCHE OF SELLING COMING?

Watch for avalanche of sell orders Monday

"June 1, 2012, 6:11 PM

Monday’s trading will be the first opportunity stock investors in the U.S. will have to act on a major technical violation that occurred at Friday’s close: The breaking of the 200-day moving average."

IMPORTANT SUPPORT VIOLATED

10 YEAR DROPS TO LOWEST YIELD IN 200 YR HISTORY!

OK, "flight to safety?", so why is the stock market still double off the lows? you going to stay in stocks thru another Bear mkt? just saying....

D

US $ BREAKOUT

No doubt turmoil in EURO zone to blame.

D

CONSUMER CONFIDENCE PLUNGES IN MAY

http://finance.yahoo.com/news/consumer-confidence-plunges-may-140420821.html

And this is good for the economy how? And it was already the weakest recovery since they began tabulating this information.

But why worry, the market is up triple digit!!??  SO WHAT, as far as I know it is up because the players figure the weak data insures more FED intervention, you know same QE gambit they got my back kind of thing.....so it emboldens speculation but it sure doesn't do much for investment!

D

NEW HOME SALES RECOVERY?

Never before in history has a chart on housing looked like this. Please consider this chart in reference to fact we have had LOWEST mortgage rates in history over this same period.

The current 0% rates and under 4% 30 year mortgage rates have not fixed the problem, but it has screwed the FIXED INCOME market and those who were depending on that income.

I suspect for these and other obvious reasons the Bear Market that began in 2007 and was interupted in 2009 has not completed and finished its work. FED and Gov't policy has done nothing but ADD to the imbalances and has NOT induced investment that creates jobs, but has only induced SPECULATION which destroys jobs...HP laying off more workers.....

Duratek

DIRECTION OF DURABLE GOODS ORDERS FALLING

DO you see what the peaks and then declining trajectory corresponds with in the stock market?

D

SPX 30M CHART

Greek tragedy? Lows held mid day and let's see if follow thru tommorrow.

D

PHILLY FED WEIGHS IN ON ECONOMY

http://www.briefing.com/Investor/Calendars/Economic/Releases/phil.htm

AAPL TAKES A FACE PLANT

An oversold market that doesn't rally is a market in trouble.

D

A FEW HEADLINES

http://finance.yahoo.com/news/banks-must-raise-566-billion-112603628.html

http://finance.yahoo.com/news/india-q1-gold-consumer-demand-051133765.html

http://finance.yahoo.com/news/foreclosures-plunge-five-low-u-040100918.html

HOW TO COVER UP DEBT WITH A KEYSTROKE

Brought to you by a 12 yr old.

REVIEW OF BULLISH PER CENT CHART

IT HAS BEGUN

"Seniors clamoring to invest in Facebook IPO"

Sure, go ahead and make that ahole Zuckerberg a BILLIONAIR, and what better people to do it than the ultimate bagholders, our seniors.

More than likely a NEW BEAR MKT has begun, I have been warning about the deteriorating environment for stocks (and economy) for weeks and that getting more defensive could be a very good idea.

OIL, and other commodities have been receding, and Bond market is red hot as seen as SAFE HAVEN. The US 10 year yields 1.79% !!!!

Be careful out there.

D

BREAKDOWN FROM CONSOLIDATION

AM SPX CHART

*click to enlarge.

If open goes way of futures, the trading range consolidation will be broken

D

A WAY OUT

Here is the bottom line, the way out of the worst financial crisis since the Great Depression is to print money. With freshly minted money, this would be used to pay off the debts that were incurred with older money (higher value). Anyone getting paid in todays money that was owed in yesterdays money couldn't be too happy about the still wet inked money as payment.

The ECB printed $trillions of Euros and the FED has printed $2.5 Trillion or so, and our Gov't has been running on average $1.2T in deficits the past 3 years (this compares to $400 B for the Bush adm). No wonder why gold toughed near $1,700 an ounce and OIL ran to above $100 a barrel.

Did this fix anything? Maybe the worst was delayed but not sure it ws averted. In for a penny in for a pound, should they continue this policy of printing to solve the crisis?

This shifts the pain directly to the middle class savers who get nothing for their money unless they risk it in the stock market.

A debt crisis is solved by piling on more debt? Can you spend your way to prosperity? I thought you saved and invested your way to sustainable economic expansion.......not speculated in the markets to a new economy. Not HFT (high frequency trading) to a new expansion and prosperity. Not used SUPER computers to front run trades, is the voting mechanism for stocks dead?

D

NO FEAR....YET?

JPM loses at least $2B on bad "bets", so glad there is a big difference between investment houses and banks.
We're still in a trading range, lower level defined is highlighted. VIX below levels that would show rising fear. Bonds for 10 years yield around 1.84%, so if you NEED returns, what you gonna do?

If you haven't gotten more defensive, you might want to think about it. You ignore your portfolio and we do enter another Bear Market, are you OK with seeing maybe 40% of your investment value decline? or more. Talk to your financial advisor and see what they say, does it make sense to you?

D

NICE HEADLINE TO START THE MORNING

JPMORGAN's $2 BILLION LOSS

7:21AM: CEO Jamie Dimon cites 'errors' and 'bad judgment' in trades meant to hedge risk

MAY SPX SWOON

*click to enlarge

There is a VERY good chance stocks have made THE TOP in this cyclical bull mkt that began in 2009, small investor participation was already, or better described as never bought into the recovery theme, so volume in the rally has been light.

Labor participation rates remain at or near historic lows, more than 25% of Americans are upside down in their homes and have no way out except default or to stay. If your home is not worth what you paid, pretty hard to refinance at todays historic low rates. If you can't sell your home, pretty hard to scoop up retirement home values.....still pressure on home valuations in most areas of the country.

The only thing the FED and GOV'T have been able to do is PROP up stock prices, for the last 3 plus years. This has done nothing for savings and investment. This has done nothing for credit and debt, only piled on more......the truth will never be told to the American public...there is NO savior, it sure isn't Romney, it sure isn't Obama.

Are you still 100% invested in stocks? It might be good idea to talk to your financial advisor and discuss what another BEAR MARKET might do to your current portfolio...just saying.

D

Simple game.....buy low, sell high

STOCKS ARE WAY OVERPRICED, and headed for a long fall IMHO. The economy is not as advertised, and if it wasn't for the FED and US GOVT backstop and propping it would not be anywhere close to where it is. We have artificial insemination of the markets.....we have a bastard market.

People, we don't have growth and if you even believe we have 2.2% GDP.....that's pathetic, stocks should NOT be at a premium here.

Simple game.....buy low, sell high

D

4 YEAR CYCLE TOP?

http://blogs.decisionpoint.com/chart_spotlight/2012/03/four-year-cycle-approaching-crest.html Decision point, great site by Carl Swenlin

As I've discussed before, if you only look at stock market performance through the eyes of the Dow Industrial 30, that is a narrow view. AS Bull mkts mature, it is normal for investors to get less risky and move money into the larger cap stocks. SO even as this may take the DOW to new rally highs, it is possible to see a good many companies begin to underperform, a WARNING sign trouble may be brewing.

Case in point, AAPL....after first breaking below $600, after earnings it ramped near $60 a share, why worry? but since then the stock appears to have rolled over.

Are stocks rolling over? I believe so.

D

POLICY THWARTS REAL ECONOMIC RECOVERY

REVENGE OF RISK OFF http://prudentbear.com/index.php/creditbubblebulletinview?art_id=10659‎

"KEYNESIAN policies ensure historic expansion of gov't debt, blunt stimulus that inflates incomes and consumption while doing little to incentivize sound investment and a self sustaining, job creating recovery.....massive govt imposed distortions (and FED 0% rate policy) thwart necessary restrucuring."

and foster stock market speculation vs sound investment....FIX THAT!

EXTEND AND PRETEND

ALmost all the jobs being produced in economy are derived from the pretend numbers the Gov't makes up from its BIRTH DEATH MODEL.

If you factor in inflation it looks as wages and corporate profits are stagnant. I continue to contend we are in the process of putting in A TOP in the bull mkt that began in 2009 which was born out of FED intervention and gaming.

NO important structural changes or improvments have ocurred, all that has been been is ADD to the adjustments that are still needed and delay the inevitable......making it worse for most.

D

WEAK JOBS REPORT

Economy: "The ADP report showed that the private sector added 119,000 jobs in April. That's considerably less than the forecast of 170,000 new jobs, according to a survey of analysts by Briefing.com. It's also a significant decline from the prior month, when the private sector added 201,000 jobs.
Factory orders for the month of March are expected to have dropped by 1.8%."

Slowing world economies could not be seen as a good back drop here in the US. Fewer and fewer stocks are taking part in the rally to new highs, we have an aging BULL MARKET, act accordingly.

D

LEAKS IN THE DAM

WHat you see is APPL soaring, AMZN hyped even though they are projected to lose millions next qtr, but they sure do kill companies like Best Buy. On the surface you see the FED promising we still have your back.

Read The Many Facets of RORO  (risk ON, risk OFF)
 http://prudentbear.com/index.php/creditbubblebulletinview?art_id=10656  When risk comes OFF the market will tank like a MF'er.

people buying 2nd homes, retirement homes? They must be the people that are not the 25% upside down in mortgage and home equity. And you have to be able in some cases to sell your existing home first, not always an easy task/

The $TRILLIONS wiped out in loss of home equity, the first time in history homes lost value YR/YR....may take decades to repair. In the meantime, it is the FED's mission to prop up and goose RISK ON assets. With less than 2% for US 10 yrs, what other game is there?

The US markets are still leaking as MILLIONS are withdrawn from utual funds etc.....the players that are left all chasing MOMO, trends, same thing....all using leverage...that CAN backfire.

There are technical signs, diversions that ALL point to the formation of THE TOP......IMHO the time is NOW to prepare....raise cash and it is my belief we are very far from where the bottom will be, so very close to where the top will be

D

WHERE ARE WE IN THE CYCLE?

Generational LOWS in interest rates. Historical support for the markets and intervention by the FED and world Central banks. Government policies all geared for growth and support of economy including unprecedented 99 weeks of unemployment benefits and other government transfer payments. Some say housing is the most affordable in decades and stocks off great values.

Banks paying near nothing for deposits and Money Market funds, and a 10 year that can't stay above 2% yield, that we could hardily argue doesn't come close to even keeping up with inflation. But then how can a sub 2% yield for 10 years give any competition to stocks that have more than doubled off the lows of 2009?

Can I offer an argument where the focus is on RETURN OF PRINCIPAL, not RETURN ON PRINCIPAL?

Most only see the day to day price of the popular indexes, and maybe follow the VIX for indication if fear is kicking up. But it is important to look underneath the general information to see how the market as a whole is performing from a historical basis.

Here we see a different picture, one of fewer and fewer stocks participating in the march to new rally highs. We have gone from under 10% stocks which were 20% off their own highs when the market made new rally highs in April of 2010, to about 1 in 3 stocks at the recent April 2012 rally highs were already declining at least 20% or more.

IMHO the current BULL MKT is in the last, final stages, and the rallies are bringing less and less stocks with it , to the final high. AT the final high, if we haven't already seen it, a large % of stocks will already have fallen from their own highs by 20% and more.

More active management is suggested to peel off your under performers and maybe begin to build up a nice cash position, only holding your strongest, best performing stocks......if you feel it important to stay invested.

IMHO, most are positioned to try and eek out the remaining leg of the bull and will not see the top coming, will not get out, and will most likely suffer horrendous losses on paper again.

This game is not made for the majority to do well, we all can't win, for every winner a loser is needed. Most of the winners reside on Wall Street, not on Main Street. Now is NOT the time to remain complacent, to ride it out, to ignore the danger signs of an approaching top.

There is a limit to what influence the FED can have, as more and more drastic intervention and propping will bring fewer and fewer real world results. If this intervention and targeting of asset prices was the game all along, good chance the BEAR will awaken and bring values down to earth reflecting the real world economy, that never was given a chance to heal and purge the excesses of the prior period, only sweep them under the rug and BAIL OUT the players responsible for the crisis.

To this day, not ONE PERSON has been brought to justice for the financial crimes/crisis of the century.

Duratek

HOUSING RECOVERY

Isn't this what got us into this mess? Don't we need to see recovery here to see recovery in a REAL ECONOMY? Instead of one propped up by gov't spending and unaturally low interest rates FORCING people into the stock market.

D

RECOVERY WOULD INCLUDE RECOVERY IN YIELDS!

3 years into "recovery" and still 0% FED funds and an under 2% yield on the 10 YR TREASURY!

Transports weaker than SPX, look for 1386-1391 to hold for SPX On upside. 1340-1350 on downside, then 1300.

D

ANOTHER LEADER STAGGERS

By Tiernan Ray

Shares of solid-state drive maker SanDisk (SNDK) are down $2.76, or almost 7%, at $37.71 in late trading after the company reported Q1 revenue and EPS below analysts’ estimates and offered a Q2 and year revenue outlook that also disappointed.

We have had 2 key reversal days in APPL stock as well......yet VIX around 18 level not showing too much fear, if you are bearish that's exactly what you want to see...DENIAL

D

AA: WHAT PASSES FOR GOOD NEWS

http://finance.yahoo.com/news/alcoas-shares-soar-unexpected-1q-145108611.html

NEW YORK (AP) -- Shares of Alcoa Inc. surged more than 8 percent Wednesday after the aluminum manufacturing giant reported an unexpected first-quarter profit as it cut costs and improved productivity.

THE SPARK: Alcoa reported Tuesday after the markets closed that it earned $94 million, or 9 cents a share, in the first quarter. Analysts surveyed by FactSet had predicted a loss of 4 cents per share. Revenue rose to $6 billion from $5.95 billion. Analysts had predicted $5.77 billion.

THE BIG PICTURE: The results marked a turnaround from the $191 million loss that Alcoa reported for the fourth quarter but were 70 percent below net income of $308 million in the year-ago quarter.

The New York company's performance was driven by lower-than-expected costs and stronger demand from many customers, including automobile and aerospace industries. Alcoa and other aluminum makers are still coping with a global oversupply of aluminum and ongoing weak prices.

IS FEAR REIGNITING?

Today was another 90% down volume day. The real question is whether this is just a typical decline or the start of something much larger. Already this BULL MKT has crossed historical bounderies by having a 16% decline and a 19% decline, Bull markets do not normally contain 2 declines of plus 10%.

LONG TERM SENTIMENT IS BULLISH, and the shorts have been battered, so I'm not sure where the liquidty will come from. We are short term oversold, due for bounce. SPX 1340 key area, 1300 even more so.

Job creation slugged to a near halt last months report and was near half what was expected and a multi month low. Europe land is not settled in their own financial crisis....who is next. Their central bank is pouring Euros out their wazoo like the FED has here....they just call is something else, not QE.

Housing is not healed. Be thankful to have a job.

VIX hit 20 plus today. More companies will dissapoint this reporting qtr. GAS prices are killing the little guy shopper.

AAPLE touched $600 BILLION in valuation....was just $500B not that long ago...talk about a stock and tech in general ripe for collapse....they talk you into that they are special....shits a commodity like toliet paper until someone convinces you theirs is softer and won't get stuck in your crack.

Look how fast they run for treasuries driving the yield on 10 yr to below 2%!!!

My mother in law passed away a few days ago....then I will be out of town until mid week, all take care.....

D

RON PAUL KNOWS

"Whether Paul is the next President or not, the audience and most Americans would agree with Dr. Paul's statement that "the job of the President is to take his oath seriously and obey the Constitution."   That's a tall order given all the recent bills signed into law that negate the President's oath and the U.S. Constitution."

FORECLOSURE WAVE II

http://finance.yahoo.com/news/americans-brace-next-foreclosure-wave-210253522.html

GARFIELD HEIGHTS, Ohio (Reuters) - Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.

But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.
"We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010," said Mark Seifert, executive director of Empowering & Strengthening Ohio's People (ESOP), a counseling group with 10 offices in Ohio.
"Last year was an anomaly, and not in a good way," he said.

DO THE DARK CLOUDS APPROACHING REALLY HOLD A SILVER LINING?

"THE CLIFF NOTES" http://www.contraryinvestor.com/mo.htm  A MUST read IMHO, April installment of an always good read is now available and they do a good job presenting the TRUE current environment and economic performance without seasonal adjustments or other misdirection data that skewers the truth...

We are in a deleveraging environment, after building up historic levels of debt and mortgage growth...the Consumer is still in a wind down mode. If you take out "student loan" data instead of a healthy 4% growth to loans you get yr/yr growth of 0%. What does our economic growth look like without gov't transfer payments? Gov't debt has expanded at record pace since 2009 as default gate has unfolded.

The picture going into 2013 is less certain, extended Bush tax cuts are set to expire and long with payroll tax rollbacks, and let's not forget the unemployment benefits many have gotten for up to 2 years, unprecedented. There is talk, and legislation passed that require gov't belt tightening to begin in 2013, cutting back an important stream of spending that will be made up where? Consumers???

Last go round 2003-2007 approx, we had the refi cash out gold rush, which flooded the economy with new credit and spending. In most cases, home owners flush with PAPER GAINS in home valuations, fed off of their most important asset, in many cases turning it into a liability when home valuations came crashing down....try to get cash out now.

Many are STUCK in homes worth a lot less than what they paid and owe, so more likely consumers will keep trying to pay down debt, than go on some aggressive credit expansion mode.

Think about it, we have just came from period of record credit growth, and so we fix that, heal and prepare for the next healthy expansion by piling on MORE CREDIT AND DEBT???

Savers get HOSED, earning next to NOTHING, actually NOTHING if you consider real inflation on their hard earned SAVINGS. SAVERS are REAL PEOPLE TOO, and many have flocked to stocks paying dividends with a meager 15% thank you BUSH tax rate,,,,,DUE to expire end of year. With al this talk (is it just that) of belt tightening, will a dark knight really ride into to rescue the dividend tax rate when so many other areas need addressing? with all the TALK of fiscal belt tightening?

The stock market will begin to sniff things out as much as 9 months ahead of any abrupt change....and with volatility as measured by the VIX near multi year lows, meaning not too many are worried about tomorrow......shouldn't you be?

I am rethinking the chart and my call for new highs before the end of year, though still possible, price can but doesn't have to reach the TOP of the bearish wedge I drew, a close below SPX 1300 and hold would be initial sign IMHO.

Also we keep hearing the HAIR channel and others chirp about "corporations are FLUSH with cash...a cash HORDE!!!".....what is not repeated is that corporations are also more in debt than ever before with the punch bowl of lowest rates in generation, they have borrowed like drunken sailors and in many cases used the money to BUY BACK STOCK, and not for company growth and investment.

Can you really fix an historical credit financial collapse bubble burst....by adding historic more of the same?

D

NEW HIGHS COMING?

http://yelnick.typepad.com/yelnick/2012/03/will-the-stock-market-run-to-new-highs.html

yelnick websute picked up on my chart from a while back, it's nice to have a respected established site use something I posted.

D

SAVERS BE DAMNED, KEEP INFLATING CREDIT BUBBLE

http://prudentbear.com/index.php/creditbubblebulletinview?art_id=10648  Doug Noland
>>Watching it all, I struggle even more with the notion of “financial repression.” “Saver repression” and “bear suppression” make sense to me. Returns for the rationally risk averse investor are being depressed, no doubt about that. Yet it is an altogether different story for the financial speculator: Instead of repression, it’s Financial Liberation. Never has the investment landscape been so stacked against the saver and investor in favor of the speculator community.<<

REG gas now $4 or higher in most parts of the country, and we have not started the rise we usually get into the summer driving season, it seems destined that gas prices will go even higher.

Savers are repressed, even penalized as 0% FED funds rate continues unabated, this policy has managed to inflate RISK ASSETS, stocks to their best quarter since?....1998!!!

SO, did we avert a financial armagedon meltdown in 2009? or did we kick that can down the road, is it possible with even MORE dire circumstances and results?

A $500,000 nest egg of savings in a Bond Money Market, one of the safest places to store money, can only yield about $50 in interest.....$50 for half a million in hard earned savings......is no one asking how the FED policies are killing those at retirement age and those who do not wish to roll the dice with risk assets? WHERE is the balance, where is the incentive to SAVE, increase bank deposits?

And the still near 2% 10 year Bond stays low with continue Federal Reserve intervention now 3 years old.

WHERE in any handbook does it say....you avoid the PIPER if you continue to inflate a credit bubble that has burst with one even more unmanagable in scope? Bernanke, from all accounts I erad, will be seen in history's rear view mirror as one who handled the situation like a skilled surgeon. And will be lauded as one of the best FED Chairman we have ever had....he was just what we needed.

But at 3% 15 yr and 4% 30 year...the housing market has yet to heal, prices yr/yr continue to decline and existing homes for sale continue to sit on the market, hard to sell.

I keep hearing where Consumer Confidence is rising, but it sits so far below normal and any other recovery, no one talking about that. WHAT could stop perspective home buyers from buying a home right now? Fear? of what? keeping or losing a job? don't we have one helluva recovery going on now?

Hiring more people at this point may be OK for AAPL, but the increasing employee costs are starting to take a bite out of profits....spending on durable goods is still subdued compared to any previous recovery.

Amazon is putting the hurt to traditional retailers like Best Buy, who will close a bunch of stores, and needs to rethink how they go to market, Amazon is putting some hurt to traditional powerhouses like Walmart. Isn't it great as a Retailer, you rent the space, fill it with products and employees...so the wonderful COnsumer can come, see, waste your time, SCAN....and then buy from online retailers who have NO expenses for store fronts from where Consumers can touch and feel products to decide if they want?

WHY NOT go and sit on chairs in a store, then go anf find them cheaper online, thanks for nothing. Gd bless the internet.

So we will be left with a society that makes nothing, supported by Gov't payouts......making nothing, but buying everything?

WHO doesn't think that 0% interest rates, and the current policies won't lead to an even more catostrophic collapse?

Haven't we already witnessed since 2000 what such intervention will lead us too? And now even more HISTORIC FED and GOVT games, to put off that day of reckoning, the paying to the piper what he is owed.....already the GAP between the HAVE'S and the NOT'S is ever widening.....I hope in the end, social unrest is not what we get.....like we saw in Europe...

D

TACTICIANS OR HISTORIANS?

 Avg length of bull mkt 39 months. Aapl.skews earnings for naz and spx. Uphill battle to expand profits with rising costs to do biz. Have we already reached peak profits? Many lured into "hot stocks" as more and more breakdown .....trap being set, just not sure if new spx high reachable. For me that's near top of long term channel near 1550 I think.....if Obama elected because of putrid republican candidates and hot stock mkt, Bush cuts will die, divie stocks will lose luster....rates should rise..... My thinking for those who just hold, or have been waiting for the dip, if new new Bull, by all means grab horns and ride. If latter stages of 2009 Bull, think exit strat

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TICK DIVERGENCE SIGNALS WEAKNESS

SInce the "RECOVERY" began in 2009 the GDP has averaged 2-2.5% per qtr. That is the weakest economic recover from any recession on record....and maybe only one where the job participation rate has continued to decline.

Recent durable goods orders were weakest in 20 months. VIX stands near 15...numb to it all.

CHINA is coming down hard....exports are down 10% YR/YR....commodities took a hit today....China has stockpiled all kinds of stuff.......overbuilt manufacturing, gov't trying to stimulate consumer demand.

If there is job growth, employment costs are rising, productivity falling...with a WEAK ASS GDP....am I the only one that thinks earnings may have PEAKED this cycle?

D

CONFIDENCE AT RECESSION LEVELS AS STOCKS NEAR ALL TIME HIGHS

http://finance.yahoo.com/news/us-consumer-confidence-falls-march-142120200.html
NEW YORK (AP) -- Consumers' confidence in the U.S. economy dropped in March amid higher gas prices, says a private research group. The decline comes after confidence rose to the highest level in a year during the previous month.
The Conference Board said Tuesday that its Consumer Confidence Index fell to 70.2, down from a revised 71.6 in February. Economists surveyed by FactSet expected a reading of 70.
Consumer confidence has made a recovery since it fell to an all-time low of 25.3 in February 2009. But the March reading is below the 90 reading that indicates a healthy economy. The index hasn't been near 90 since December 2007.
Economists watch consumer confidence closely because Americans' spending on things from clothing to health care accounts for about 70 percent of the nation's economic activity.

NO BOTTOM YET

And for stock prices maybe no top yet, but it could be closer than most think. We have worldwide Central Bank intervention, still home prices fall BUT gas prices rise along with anything associated with energy use.

D

 

Home Prices Hit a 10-Year Low

CNNMoney.com
The housing market started off the new year with a thud. Home prices dropped for the fifth consecutive month in January, reaching their lowest point since the end of 2002.

NO INFLATION

PROFIT AT GEN MILLS falls

"General Mills has said commodity costs have increased in the 10 percent to 11 percent range in fiscal 2012 due to higher prices for ingredients like grain."

HOUSING RECOVERY

TRANSPORTS DIVERGENCE NON CONFIRM

Worth watching, could be temporary

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DAILY TICK DIVERGENCE

Warning of pending short term top, has been closely related to price for some time.

I feel the speculative fever among AVG investors is perking up, fear index is being buried and many of the players feel momo is easy to find and ride.

Even as a more challenging earnings season approaches.

D

"SURPRISE" JUMP IN YIELDS?

http://finance.yahoo.com/news/surprise-increase-rates-credited-signs-121203848.html  Credit where credit is due it must be from "signs of economic recovery"

"Investors will be closely watching for another rise in interest rates when trading resumes on Monday, after the bond market’s sharpest move in nearly six months caught some traders by surprise last week.

Despite the sudden swing higher, most Wall Street strategists are playing down the danger of a surge in interest rates, which have been historically low because of demand for bonds from both the Federal Reserve and private investors wary of all but the safest assets.

The sell-off last week was caused by increasing signs that the economy might finally be gaining steam, lifting the yield on 10-year Treasury bonds to 2.31 percent on Friday, from 2.04 percent a week earlier. That was the biggest move in bond yields, which move inversely to bond prices, since October, when rates briefly topped 2.4 percent.

“It clearly caught everyone’s attention,” said Jim McDonald, chief investment strategist for Northern Trust in Chicago. “When something moves like this, by definition it’s a surprise.”

More data confirming that the economy is gaining momentum could come later this week. In addition to data expected on Tuesday and Wednesday on housing starts and existing home sales, the Commerce Department will disclose the latest figures for sales of new homes on Friday. And on Thursday, the Conference Board will announce its index of leading economic indicators for February. "

ECRI DATA POINTS TO ANOTHER RECESSION

http://www.financialsense.com/node/7866

EXPLORE RELATIONSHIP BETWEEN FEAR AND PRICE

LOOK at my beautiful 2009 bottom signal. *click to enlarge

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BDI AND OIL DECOUPLED

click to enlarge

THERE IS NO PLAN "B"

The Fed is "turning the faucet, and nothing's coming out," says William Ford, a former president of the Federal Reserve Bank of Atlanta. "I don't see any pluses on the plus side of the ledger ... But they're ignoring the strong negative effect that they're having. They're killing savers. Retirees are earning nothing on their life savings."

Read more: http://www.nwfdailynews.com/articles/hurting-43126-interest-economists.html#ixzz1pPO90fP1

POINT IS, we don't know where that point of no return is...for stocks. WHY would they quit this insane BS now..."in for penny, in for pound"....."in for a ton".....there is no turning back....even if its not working....because they have no other plan.....

30 YEAR BOND BULL NEAR AN END?

Bill Gross:

"..Under this plan, the Fed sold short-term debt and purchased long-term bonds in an effort to keep longer-term interest rates lower. At its meeting earlier this week, the Fed indicated that it didn't plan to extend the operation. "Yields have risen based upon the possibility that the Fed simply stops buying long-term bonds," he said. "If they do that, the question becomes, who is left?"
http://finance.yahoo.com/blogs/daily-ticker/pimco-bill-gross-qe3-inflation-muted-growth-way-115229488.html

BDI UPDATED

There has been a steady decline since its recovery from 2009 bottom.This is only one measure of activity but it doesn't paint a picture of recovery in demand for raw materials

D

CONSUMER CONFIDENCE RECOVERY?

BULL MARKET TARGET

IMHO, we have extensive "broadening top" pattern here and there is good chance we top in the zone I circled as we enter the 4th year of this bull market.

I also do not think we are in a new LONG TERM BULL, a secular move as we have only printed our way out, piled new debt on the old and with 0% rates there is little to compete with stocks.

A falling VIX pattern leaves a big selloff off the table for now. In the past we have ended bull markets with a single digit monthly VIX print, so below 15 is not unusual.

As a trader if you let four fundamental views cloud the market action and FED back drop, you will let opportunities pass you by. However, NOW is not the time to get aggressive long exposure IMHO, even if more upside is coming, because it will be the last 10% to the the top that you don't want to chase.

I think the FED and Central Banks can change market direction, but if all you do is hide the problems, try to PRINT YOUR WAY TO PROSPERITY, that will not unltimately work.

D

SCOTT FREE

http://motherjones.com/politics/2011/11/9-wall-street-execs-who-got-off-scot-free

MORE SUBTLE FED ACTION COMING?

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” Do the Keynesians ever deeply, seriously contemplate perhaps Keynes’ greatest - and certainly most pertinent - monetary insight?
http://prudentbear.com/index.php/creditbubblebulletinview?art_id=10640

REALITY CHECK

http://market-ticker.org/

DANERICS ELLIOTT WAVE COMMENTARY

http://danericselliottwaves.blogspot.com/2012/03/elliott-wave-update-6-march-2012.html

Worth considering what he has to say.....have we been building up to the MOTHER OF ALL BUBBLES? the gov't finance bubble.....thar she will blow as they all do with dire results.

Record amounts of money printing to avoid deflation and the consequences of malinvestments are harmful policies....and still now, they fight the correction tooth and claw, to preserve their supremecy and control

D

CORRECTION TIME

The vix has broken above 20 and a multi month downtrend, this correction more than likely has a bit more to run reaching highlighted minor support area. Today was the furst 90% (down) volume day of the year....this tells me the decline is going to muster some strength...a likely rebound attempt should follow for a few days before the sellers reload

Next potential targets are the rising 50 and flat line 200 below that, all would be normal targets and not upset the bullish apple cart.

But I continue to hear the same chants from my TV, "the avg US investors is under invested in US equities, this decline offers a grat chance to get in".....a few spx points from recent top looks like great entry?

Greece finds its way back into the news......market weakens, US $ strenghtens, OIL falls, gold falls....a pattern here.

Forced to play risk for returns, dividend plays are touted daily......that's alal well and good unless the DIVIDEND tax cut gets the heave ho like it might.

D

IMAGINE GOVERNMENT RUN MORE LIKE A BUSINESS?

http://citydesk.freedomblogging.com/2010/01/14/did-the-city-council-snub-the-broadmoors-ceo/1217/

"The president and CEO of the world-renowned Broadmoor resort said Thursday he’s moving forward with a plan to assemble a group of local executives to help the city deal with its financial problems now that the City Council has formally accepted his offer."

Read more: http://www.gazette.com/articles/broadmoor-92836-ceo-tackle.html#ixzz41xk1wJGb

HELL TO PAY

ECB launched another round $800B now reaching $1.3 TRILLION in it's version of the FED QE. IMHO there is good chance this along with continued rising balance sheets of the FED and continued 0% rate policy, that markets have a back stop, emboldening risk takers. There have been NO 90% volume days in 2012 as yet, after an historic period of oodles of them.

Since 2005 ECB and FED balance sheets have ballooned to over $6 TRILLION! This money has to go somewhere, the somewhere is into risk markets, commodities, $ carry trades, Bond purchases. The current environment errs on the side of the BULLS, but down the road (I know you're sick of hearing it) there will be HELL TO PAY for all this historic intervention which is causing awesome imbalances of its own. Be on the WRONG song of the trade and get buried.....the BEARS have been obliterated....too early and right equals wrong.

Calls for $1,000 AAPL stock with coming intro of APPLE TV and dominance of other products bring back the halcyon days of the tech bubble. YELP! stock with no earnings is instantly valued at $1B. Internet companies with no or little earnings doesn't seem to bother speculators one bit.

CHINKS in the armor would be LOW VOLUME, rates creeping above 2% on the US 10 year and gaining a foothold above that target. My contacts told me comments from Bernanke last week cause mortgage rates to tick up by almost 1/2%.

A flood out of Risk ON trade would flow money to? Stocks and out of ? Bonds where record amounts continued to reside and flow, even after a double in stock market!

OIL surged to $110 and now gas prices are HIGHEST EVER this time of year with Spring and Summer driving season ahead of us. GOLD got pounded $90 in just one trading day....volatility may have evaporated in the stock market but it is appearing in other areas.

My guess is the recent surge of intervention by ECB with $800 B in its LTRO scheme may do same there as what QE did here....why wouldn't it?

Upside surprise here in the US with a revised 3% GDP number shows our economy has recovered to some extent, it appears that jobs ARE being created, maybe not fast enough, maybe transitory, but jobs are being created.

But higher energy costs are hurting Consumers, and do filter down into economy as everything either uses petroleum or is shipped to market.

That worry down the line happens to be a big one, a piercing of the long running BOND BULL and Government Finance gambit, does the INFLATION GENIE get out of thebottle, and how many RISK PLAYERS would be flattened should certian trends they are long or short reverse while they inject record levels of LEVERAGE into system?

D

PROMISES

YELP! makes it's market debut today, offered $12-$14. Pops to $26 and settles at $24.75.

ONLY 13% of the company was offered, so todays price values YELP at near $1 Billion. $97 Million in sales, no profit but lots of promises.

D

PUT THIS IN YOUR PIPE AND SMOKE IT!

33% of Home "owners" are UNDER WATER in their mortgage. 22% of all sales were foreclosures, down from 26% last year....1% is NORMAL! 11 MILLION homes are worth LESS than they owe.

0% FED rate is KILLING savers, retired, fixed in come. 0% rate is hurting the value of the US $, a LOWER US $ DIRECTLY effects the price of OIL, and other commodities.

When Obama was asked why OIL and GAS prices were so high he said the tensions in Middle East and "recovering economy" were to blame.....NO mention of inflationary FED and ECB rate policies...yeah let's just tax the rich.....that means you!

D