Jesus was A Liberal

The Dalai Lama & Scotty

Christianity in America is often portrayed as conservative  -  flamboyant right wing evangelists, the conservative aura of the Catholic church, and, the often loud and sometimes violent abortion issue. Well, there are 10′s of millions of Americans who spiritually believe in something far less dogmatic. One such leader of these Americans is the Rev . Scotty McLennan

Back in the 60′s during the civil rights movement and later Vietnam we were all influenced by a great Christian leader from Yale - Rev. Sloane Coffin . (for those of you too young to  remember you can read about him here ) Scotty, was one of those who not only took this activist preacher’s message  to heart, he followed in his footsteps.  Scotty became University Chaplain at Tuffs and is now Dean of Religious Life at Stanford.

His latest book entitled Jesus Was a Liberal : Reclaiming Chistianity for All has just been published. - here You can follow Scotty at his own blog here

For my kids who know Scotty & Ellen well – your copy of  Jesus was a Liberal is in the mail. For those of you who think Scotty’s picture vaguely familiar – The Character of Reverend Scot in the comic strip "Doonsbury" is fashioned after him.

Iran Day 12

iranian divide2.jpg 

  • Same recommended sources in past updates continue to provide excellent information. Demonstrations are diminishing and military presence growing. Protestors have switched to strikes and Thursday as a National day of mourning. Foreign media continue to be arrested. Neda has become the symbol of the movement – from major issue in Obama’s press conference (opening remarks here ) to Iranian government saying video was fabricated.
  • Popeye in the comment section brings up the behind the scenes story of the power struggle in Iran over whose going to replace the "Supreme Leader." Steve Clemons blog has another yet similar point of view on the power struggle behind the scenes here and his daily blog offers more analysis here

Obama Debate Rages on

The are you happy with Obama ? debate continues to rage in the comments section. See posts by Abby and Popeye

STOCKS

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

Index Percentage % Volume
Dow -0.19% down
NASDQ -0.07 % down
S&P500 +0.23% down
Russell2000 -0.62 % -

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Technicals & Fundamentals

The volume was again below average. It hard to be sure about making a forecast when our #1 forecasting tool - volume – gives no indication of which way prices will flow. But there has been some ominous changes in the secondary forecasting indictors See below.

The World Bank’s downward revision of expected GDP for the planet is having an effect. (see yesterday’s update)  I can’t remember stocks falling so much directly in front of a Fed meeting. Usually everybody waits till the Fed announcement after 2:15 EST today to make their move.  Sure looks like bears are gathering to mount a charge

Significant forecasting tools/Indexes for stock markets

Note - Repeated statements in brown

Right now, there are two indexes that are significantly influencing stocks in the USA & world. The US dollar in the short term and the BDI in the longer term

$USD – The Dollar fell-1.16% yesterday. Any move over 0.50 is significant. The strong inverse correlation between the dollar and stocks has existed for many moons. The dollar falling a very significant-1.16% and stocks ending up only flat (the Dow should have rose at least 100 points) is a very bearish sign.

BDI The Baltic Dry Index measures the flow of goods (world trade). 24 up days in a row, 6 down day in a row,  a 6 day rally and now the BDI fell Friday and the rate of decline increased Monday and significantly increased Tuesday. Another very bearish sign

If trade is diminishing through out the world then a worldwide recovery is in big trouble.

Reading the Tea Leaves

This market has moved too high to fast and is a technical rebound. As stated two weeks ago we may see a 5 to 10% technical fall or consolidation. This week fearless forecast – Another down to flat week. Look for the areas around 875 and 850 on the benchmark S&P 500 as support levels.  So far because of the lack of heavy volume this looks like an over bought correction and not a total meltdown that tests the old lows.

Our key secondary ($USD & BDI) indicators seem to indicate momentum will pickup on the downside.

This is about as close as I can get to bringing out the old Lost in Space robot who screamed Danger Will Robinson,Danger Danger.

The only missing piece is  H igh Volume confirming a downside move. Therefore, NO warning, but keep an eye on markets.

Yesterday Investors411 recommended buying some downside protection on any minor rally. A 5%+ position in -SDS – An ETF that is ultra short’s the S&P 500

Long Term Outlook = NEUTRAL

See Changes in STRATEGY, POSITIONS, & OVERVIEW sections of blog

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING

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