WHAT’S UP? Thanks to all of you who wrote in comments and set the agenda for both SmackDown and Torture; The endemic of tortureaccountability, your comments, definition, & its cost in American lives; Shadow Banks and the Stress test;  Flu Pandemic hits stocks; Major changes at GM;  Market – Technicals & Fundamentals.

TORTURE

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Definition of Torture

  • The Spanish Inquisition waterboarded and we called it TORTURE (Frank Rich - Link)
  • The Japanese waterboarded (WW 2) We executed those responsible and called it TORTURE (see ewanapt’s comments)
  • The vicious dictator Pol Pot(Cambodia) waterboarded and we called it TORTURE
  • The scum in North Korea waterboarded and we called it TORTURE
  • The Cheney Bush administration waterboarded and we call it ”ENHANCED INTERROGATION TECHNIQUES.’

comm_on_acc.jpg

Commission on Accountability

The endemic and acceptance of torture has dramatically altered the moral character of our nation.

Torture authorized  by the Cheney/Bush administration was not used in one singlular Jack Bauer (TV show 24) moment but instead spread throughout the world.  Authorized torture approved by the government elites – from the 84 ghost prisoners to Gitmo to Abu Ghraib to Afghanistan – flourished throughout the world. See, Andy Worthington’sTen Terrible Truths About Torture

One of the greatest outrages of our time has been the change in America’s character to accept torture. Character and moral values used to be what separated us from Chairman Mao and al Quaeda.

Please join me and others  calling for an independent non partisan commission to examine and publicly report on their findings. See-

Commission on Accountability.org 


  

Dick Cheney

The Overlooked Cost in American Lives

Our use of  Torture killed  a whole lot of Americans “The reason why foreign fighters joined al-Qa’ida in Iraq was overwhelmingly because of abuses at Guantanamo and Abu Ghraib and not Islamic ideology,” says Major Matthew Alexander, who personally conducted 300 interrogations of prisoners in Iraq.”  

Torture and the “unjust” occupation/war in Iraq was the #1 recruiting tool for Islamic terrorists. who have and will kill thousands of Americans. See  ”Torture? It probably killed more Americans than 9/11″ -LINK

STOCKS


Index Percentage % Volume
Dow +1.50% up
NASDQ +2.55% up
S&P500 +1.68% up
Russell2000 +2.60% -

 

Technicals & Fundamentals

Mantra -Forget all about the major indexes - What happens to the shadow banks (financials) absolutely dominates stock  trading.

We are in the second 1/2 of earnings season.

Possible Flu pandemic negatively impacting markets throughout world.

Major changes coming out of GM. They are dropping major lines of cars and more.(breaking)

XLF - The ETF that tracks financials (mostly shadow banks) rose +2.24% Friday in increased volume.  Financials have lead this rally and if they  collapse so will almost all other sectors (see Positions section of blog on XLF) 

The XFL is consolidating between @ 9.4 & 11.3. XFL closed at 10.94. We are moving close to strong resistance level at @ 11.3.  This is the resistance level all Wall Street is watching.

BDI -Baltic Dry (Sea) Index has rebounded. (see BDI chart on side of blog) Translation – world trade is doing better.

Reading the Tea leaves – Stocks are in a tug of war-but the trend looks up. Here’s a CNBC article that agrees with this outlook. Technically we are consolidating, but there has been more upside days in big volume than downside days in big volume. Fundamentally the big event is the May 4th “Stress Test” announcement. Here some more info on the Stress Test.

Fearless Forecast.-  It’s hard to see the FLX break out above the 11.3 resistance level before the “Stress Test” on the shadow banks becomes public. But, at the rate the current administration is caving into the big banks a breakout seems likely after 5/4

 

Long Term Outlook = CAUTIOUSLY BEARISH

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

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING! 

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