What’s Up? – Cheney – Truth Serum – Exposing the “Sith” Lord – Darth Cheney; 4 overlooked facts; Col Wilkerson on the “Sith” Lord; Torture; Friday Funnies: Summer doldrums come early to US stock markets; Reading the Tea Leaves

Cheney

Darth Cheney -Truth Serum 

  • More Americans were killed by terrorists under his administration than any other.
  • “American Don’t Torture” was at least as big a lie as Clinton’s “I didn’t have sex with that women.”
  • Cheney /Bush authorized a massive torture system that include torture to find fictitious WMD’s in Iraq.
  • The Cheney/Bush torture program was the (or a) major reason Islamic terrorism has grown. (unjust invasion if Iraq other major cause)

The Abu Ghraib torture photos (early 2004) basally put an end to the massive torture and rendition program. Participants became too fearful of retribution. Therefore, since the beginning of 2004 mainland America has remained safe without a huge torture program. See Steve Clemons/Larry Wilkerson editorial on Cheney for more. 

Col. Wilkerson , Secretary Powell’s chief of staff, is horrified at the damage Limbaugh and the “Sith” Lord(from Star Wars) Cheney is doing to his Republican party. 

Friday Funnies 

In keeping with a new tradition – keeping Friday funny – here’s Darth Cheney, err, Darth Vader video of him conduction the star troopers orchestra

Clone War Vet funny picture

STOCKS

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

Index Percentage % Volume
Dow +0.56% down
NASDQ +1.04% down
S&P500 +1.04% down
Russell2000 +1.88% -

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“Capitalism Could Fail” is the headline story on CNBC this AM by noted bear Marc Faber

6 Insurance Companies got themselves over leveraged and will receive $22 billion in TARP $. WSJ story Insurance companies are a big part of the Shadow Banking system.

Technicals & Fundamentals

Prediction at beginning of weekRight now this looks like natural profit taking after a big run higher. I could develop into a reversal if volume increases. – Unless we have a major move higher we will end the week down.

Volume has dried up to a trickle. Looks like an ocean with no breeze. No breeze means no direction.

XLF - The ETF that tracks financials (mostly shadow banks ) after three down days rose (as predicted – see last two days) +3.34% in below average declining volume. Volume is NOT confirming the price move.

Taking your ownadvise – I did not buy FAS – as I urged short term day and swing traders – boy what a mistake. Would have made @10% and got out. 

With volume NOT confirming the price move – its hard to use XFL today as a short term forecast tool. But longer term bullish trend is still in place.

Market’s Major Mantra – Again If Shadow Banks go up – so will stocks. If Shadow banks go down so will stocks 

WTIC charts “Light Crude Oil”.(see chart) Notice after Oil hit a low @$37 a barrel in Feb. it rose to a range between $48 and $54 for over a month and over a month ago it broke out and two days ago reached a high of almost $60. 

Yesterday oil prices rose +0.76% to $59.42. The major resistance level is @$60 and a move above this would be bullish for stocks and bad for consumers. Summer driving season is around the corner and historically prices rise at this time.

BDI, The Baltic Dry Sea Index, that measures worldwide trade has reached a new high this year. The fact that prices to ship goods worldwide is moving higher is bullish for stocks.

Reading the Tea Leaves – Summer doldrums seem to have started early. The BDI & higher oil prices (secondary forecast tools) are both bullish. The overriding fundamental factor is Shadow Banks – So far they have pretty much got what they want from the Obama administration – Banks privatized gains and Taxpayers socializing losses. 

So after some more consolidation we’ll probably see a move higher. Of course unexpected news can change all this.

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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