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NYT’s Frank Rich

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Immigration

Once again the NYT’s Frank Rich has topped the list of editorials on the Arizona immigration laws that is causing outrage across the country. If only Arizona Were The Real Problem Some points

  • The show me your papers law in Arizona is certainly reminiscent of having those who look Jewish in Germany having to show their papers.
  • There has been such outrage over this that Major League baseball is considering pulling its All Star game from Arizona
  • Directly after passing this legislation all Arizona Republican’s also voted that an American President must show his birth certificate. (Bithers – directed at Obama)
  • Where is the virtually all white Tea Party on this?  They hate big intrusive government. Strangely the hypocrites are silent.
  • There are some Republicans like Tom Ridge, Jeb Bush and others fighting back against this.

Combine this with Popeye’s documented comments of the 1,000,000 people now praying for Obama’s death.

Immigration is the next topic that Congress is going to focus on.

Oil Disaster

There have been 22 comments from Friday’s Oil Disaster/Financial Fraud’s post. You can check them all out by clicking on the blue Oil Disaster & Financial Fraud under any (the latest) of the posts and scrolling down on the next screen.

KISS & Stocks (Keep It Simple Stupid)

If you don’t understand a term look in up at Investopedia.com dictionary

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING!

Index Percentage Volume
Dow -1.42% up
NASDQ -2.42% down
S&P 500 -1.66% up
Russell 2000 -2.87% -

Investors411 record – 5 years of beating benchmark S&P 500 and almost all major US indexes

Technicals, Fundamentals & Analysis

See Positions for changes made each weekend

Stocks took it on the chin Friday in increased, above average volume. (Volume on the NASDQ was slightly lower) = Bearish

“Sell in May and stay away” is an old Wall Street saying. Will have to do research into validity, but it been said so many times it does spook investors.

The big swings up one day and down the next is usually the indication of reversal of trend.  Therefore, a least a short term top. = Bearish

Would be very concerned if we had a “follow through” day. The day after a big swing in one direction – in this case down- acts as a confirmation factor.

We have come to some resolution on the Greek debt problem – austerity measures in Greece and loans from IMF & European Union. = Bullish

United & Continental airlines have merged. They call it “merger Monday” = Bullish

Hard to see oil spill in Gulf as negative for markets. Thousands and thousands of working rigs and one thing happens to one rig = Bearish

Here’s a summary of what will influence markets this week from Seeking Alpha Big news for the week is monthly employment numbers on Thursday. Some news on China cooling down.

Fearless Forecast Last Week –  ”Up Week” This was wrong we were down.  All fundamental reasons two weeks ago – Greece, GS, Financial Reform seemed to spook investors this week. Paul R sent an email mentioning the chip stocks took it on the chin Friday (down over -4%) on oversupply issues.

Fearless Forecast This Week – Getting the fundamental issues right but the timing wrong. Honestly, have little idea of how employment numbers are going to go Thursday. Best read of the tea leaves is a rebound early as Senate dithers on financial reform, but jobs number holds the key. Best guess is we are due at least for some sort o dip. – down week.

Significant Indexes

  • McClellan Oscillator fell dramatically  to -32.05 yesterday.  [+60 or above = Overbought = sell. -60 or below = Oversold = buy]. StockCharts has a better version of the McClellan chart ($NYMO)LINK. - This is the third time the MO has fallen to the -33 support level. Breaking down through support would mean there is more downside to come.  However support levels do put up resistance to further falls.
  • US Dollar – fell -0.22% Friday. [Anything over +/- @0.50 is significant.] Mantra - right now The Dollar Rules is very important  Dollar closed at $81.83. The breakout of the trading range lasted one day  and the USD has fallen back from its new high into its old trading range. Rising dollar almost always = falling stocks. The dollar is rising and falling because of the fluctuations in European currencies = Greek debt.

Positions

The  Positions Section = latest buys and sells – (Revised positions last weekend) - These are positions I actually own

Waiting on the MO to reach -60 before any major buy are made.  Looking for a dip to enter GLD again.

Caution – The stocks YOUR Stock list are especially vulnerable to a sharp correction in the market.

Long Term Outlook = CAUTIOUSLY BULLISH

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING

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