Why wasn't the WSJ--or, for that matter, any of the major national media outlets--asking years ago how Americans were going to pay for all the excesses of our government? It always amazed me that Bush cut taxes repeatedly and at a time when the national debt was growing into the $trillions, the wars were costing $trillions, government spending was increasing at an alarming rate (with a lot of that money going into Wall Street), the dollar was eroding at a fast clip, etc., etc., etc. Now someone is actually asking the question, "Who's going to pay for all this?" At the same time, the government's response is to continue printing more money and adding to our debt with the bailouts. Dumb, dumb and dumber! Pardon the rant. Two

OK, Gleno, here's my "fearless prediction" for today. We hit this morning's NDX bottom around 11:15 at 1300. They'll take up the price from there (1316?) and then we'll go down slowly and bottom at around 1298 about an hour before today's close. Two

Well, I think we hit our morning bottom on the NDX at 11:15 (1300). If form follows, they'll be one more lower low later this afternoon. Gets predictable after awhile. Two

Hey, Foot. At the same time that the government "is giving it away to those who don't deserve it," the auto industry is starting to install remotely-controlled shut-off devices on cars owned by deadbeats. Two
========================

Car Payment Or Else: Engine Shut Off Systems
They Know If You've Paid Your Bill
by Gary Hoffman | AOL Autos

With consumer credit ratings plummeting, more American car owners could soon be driving around with an electronic Big Brother on board.


While the devices have mostly been used in the subprime auto loan market, other lenders are looking closely at the technology, manufacturers say. It's no mystery why interest in the gadgets soaring: the creditworthiness of American consumers is declining as they lose jobs in record numbers and find it harder to tap into home equity.

Financially stretched consumers have to figure out what bills they are going to pay -- and what payments they have to postpone. And car dealers and lenders want to make sure it's not loan payments that fall to the bottom of the pile.


According to Schwarz, industry statistics show that 300,000 consumers a month are falling from "A" to "B" credit -- meaning that they have recently been late with a house payment and had other credit problems. Others have fallen lower, becoming candidates for subprime car loans for the first time in their lives.

It's not an especially nice place to be. Buyers usually end up paying more than they would pay for a late model used car or a new car lease if their credit were good. Since the risks are higher, dealers and finance companies feel they have to hedge their bets by boosting interest rates to 27 percent or more.


The devices are usually controlled remotely by the dealer or lender and are linked to the vehicle's powertrain. They usually cut out the power several days after the payment is due. Before the deadline, the driver is treated to a concert of tones and flashing indicators signaling that the deadline is approaching. There are also warnings after the deadline has passed.

http://autos.aol.com/article/car-buying/ca...off/20090415001

Good analysis of this rally on Jesse's Cafe Americana. Two

=================
This rally looks increasingly artificial and is led by buying in the SP futures, which was the trademark intervention established when Robert Rubin was Treasury Secretary.

This does not mean it cannot go higher, as the markets are awash in liquidity with no productive outlets that can compete with the easy returns of the hot money speculation machine.

Goldman Sachs, for example, is taking cheap money from the Fed and from funds guaranteed by the FDIC and turning them into profits by gaming the commodity and equity markets. This is what passes for banking in the US in this time of excess and imbalance.

It does imply that on news this rally could turn lower with some serious momentum.

What is lacking is solid volume underneath this rally. If buying appears from real investors as opposed to speculators then it may continue.

For now this rebound in US equities a slow short squeeze probably led by the momentum traders and by the bankers who met with Obama at the White House.

We'll know more when Obama produces the details of his discussions with them in keeping with the transparency he has promised. Or are the bankers to Obama what the oil companies were to Cheney?

I think Da Boyz want folks to think a low will be posted at expiration time. But my guess is that they'll wait until Monday to post the low. It looks to me as if the NDX low could fall in the range of 1250-1265. That's not to say we won't go back up before that happens. My guess is that we'll see a pretty hefty (25-30 point) rally tomorrow before dropping hard again on Thursday into Friday. Just speculation on my part. But speculation is what it's all about. Two

Fox, as I read my previous post to you, I realized my dates were off. Sorry. I meant that I think the NDX will bottom next Monday, April 20 (or possibly intraday on Tuesday, April 21), before heading up. Eye doctor appointment being arranged as I write (lol). Two

fishbait, Reid is correct. It's "voluntary"...until you get caught not paying(lol). Two

Great analysis as usual, Fox. The pattern I see playing out here for the NDX is three days down (4/13, 4/14 and 4/15), one day up (4/16), and two more days down (4/17 and 4/18). My guess, based on my pattern work, is that we'll bottom 4/18 (or possibly early intraday on 4/19) and start the next stage of this bull run, which could last into the end of June. This pattern, by the way, is very similar to what happened between 4/5 and 4/16 last year. Sometimes, Da Boyz aren't too original and repeat themselves, don't they? Two

My system is short from Thursday's (4/9) close at 1340. Two

I don't know, NM, but my TA and charts told me to be short the NDX for two days...and, despite "total control" by Da Boyz, they were right (lol)? What happened? (Just ribbing you, of course.) Two

jakemem, good info, thanks! Of course, knowing how CNBS works, someone there will probably point out that the U.S. employment market is in better shape...and then we rally. Two

INTC announces tonight. It's down about one percent so far today. My charts don't like it too much. Any thoughts on what the company might do/say? TIA. Two

I understood you, sorry. You're correct about the rising oil price inhibiting growth. It added to the "perfect storm" that hit our--and the world--economy. A fabricated "storm" created by those we are now rewarding with massive cash infusions. Two

Gleno, it wasn't supply/demand that drove up the price of oil, despite what some gurus said at the time. It was speculators who took up the price and then drove it down. I always found it interesting that former Treasury Secretary Paulson, who, before becoming GS CEO, was in charge of the commodities division at his company. It was no accident that suddenly the price of oil started dropping. And it requires little imagination to figure out what company started shorting oil and drove down the price. That company made a killing at both ends, I'm sure. Two

montanamark, GS has made $billions shorting various markets during 2008 and this year. While telling their customers to buy everything from oil and gold to builders and realtors, they were secretly shorting. Talk about duplicity!? Would it surprise anyone that GS was shorting its own stock and profiting handsomely? Or how 'bout shorting AIG, Lehman and others in its own "financial brotherhood"? Could GS have been actively creating the financial mess we find ourselves in today? Why not? Two

Gleno, "tell you why it is....?" GS and BAC stole the money. They represent organized crime at the highest level, and they're aided by the Fed, Treasury, Congress and, of course, the President. Amazing, isn't it? Two

RCKS, I've thought about what you said. We've all gotten used to playing by "their rules." So what would trading be like without the crooks and their manipulation? At least we understand basically what the hell they're doing, right? Two

Gap up from what, RCKS? GS is already up 3.7 percent today. I guess when you have so much bailout money to play with, anything is possible? Two

NM, speaking of GS, if you're interested in the latest controversy involving this crooked institution, go to www.goldmansachs666.com. Story in the Telegraph this morning about GS telling a guy named Morgan to stop printing negative news about the company. We need more like him. Two
=====================
http://www.telegraph.co.uk/finance/newsbys...ggers-site.html

The bank has instructed Wall Street law firm Chadbourne & Parke to pursue blogger Mike Morgan, warning him in a recent cease-and-desist letter that he may face legal action if he does not close down his website.

Florida-based Mr Morgan began a blog entitled "Facts about Goldman Sachs" – the web address for which is goldmansachs666.com – just a few weeks ago.

In that time Mr Morgan, a registered investment adviser, has added a number of posts to the site, including one entitled "Does Goldman Sachs run the world?". However, many of the posts relate to other Wall Street firms and issues.

According to Chadbourne & Parke's letter, dated April 8, the bank is rattled because the site "violates several of Goldman Sachs' intellectual property rights" and also "implies a relationship" with the bank itself.

Unsurprisingly for a man who has conjoined the bank's name with the Number of the Beast – although he jokingly points out that 666 was also the S&P500's bear-market bottom – Mr Morgan is unlikely to go down without a fight.

He claims he has followed all legal requirements to own and operate the website – and that the header of the site clearly states that the content has not been approved by the bank.

Remember the phrase from that famous hamburger TV ad: "Where's the beef?" With all the jobs still leaving this country, and all the companies either cutting back or closing down, the operative question becomes: "Where are the jobs?" They think they can create them the way we did through the Works Progress Administration in the 1930s (you know, the operation that built so many bridges, dams, roads, etc.) Such an operation takes a lot of time and money to set up, and they haven't even really started. All they've done is talk about "the money." The Fed's job turn-around date of 2010 is very optimistic. We'll see rioting and demonstrations in the street when unemployment reaches 15-20 percent. And that may occur in 2010. They don't know what they're doing, Paul, and they're going to learn the hard way. Two

blasher, sent you some charts and explanations. Get back if you have questions. Two

rich, you may be right. Unless the NDX closes at the HOD, my charts suggest there could be a spike up Monday a.m. Then a pullback? Two

POKERSAM, you're correct. The unemployment problems in this economy, and the world, are just getting started. The worst is yet to come. Don't listen to the fools on CNBS. You know most of them are propagandists, liars and hucksters who represent those who would convince the public that this is the "best time ever to buy stocks." The real "lagging indicators" in our society are Congress and our Federal Government in general. Two

Gleno, speaking of small, uninformed traders, I was in the lobby of a large city hotel this week where a "Better Trades: The Road To Financial Freedom" seminar was being held. Hundreds of people packed the auditorium and listened to a glib huckster sell them his "mentor" services. He and his staff were "better" than stockbrokers because they provided "one-on-one" buy-and-sell advice. No mention of cost; that would be provided later, of course. There are very desperate people out there who are searching for any way possible to make money in the market. I felt like shouting over the huckster: "The market is rigged and this guy is a fake." But I didn't want to get arrested (lol). Two

Hey, Foot. You're close to the truth. There's a town out my way called "Farmers Branch" that has been sued successfully by the ACLU (and had to pay $millions) because they tried to enforce laws that restricted illegal aliens from taking local jobs and renting apartments in the town. The town's argument was that the illegals were costing taxpayers a fortune (literally) in emergency room costs and other municipal services, which they got for free. The ACLU argued, successfully, that the town was "racist." The ACLU also told the town it should rely on the Federal government to enforce laws dealing with illegals. What a joke! Two

I agree, blasher, but would extend the late 1970s to include most of that decade...in particular, the period between late 1973 and 1979. Another tough period during my lifetime was the recession of 1958. Unemployment was very high then and the economy was tight like today. Two

Hey, fish. But Dubya's quote made in 2003 far exceeds Reagan's: "The future will be better tomorrow." Two (To which he added, "If we don't succeed, we run the risk of failure.")

Think someone wants to park the NDX right at 1300 at the close? Two

Agree, Beerworld. This is a low-vol staged sell-off. We'll probably go lower but I expect a rebound. Two

What I'm seeing: yes, we've been selling off since 1 Eastern. But my major signals are still on a long signal from 1:35 Eastern yesterday (NDX/QLD/Q). We may see prices drop more, and I suspect we will. But I'm also expecting a reversal up and will add when I see it start. Two

For Gleno...since he's a golfer. Two

====================
One day an Irishman, who had been stranded on a deserted
>
> island for over 10
> years, saw a speck on the horizon. He thought to himself,
> "It's
> certainly
> not a ship."
>
> As the speck got closer
> and closer, he began to rule out
>
> even the possibilities
> of a small boat or a raft.
>
> Suddenly there strode
> from the surf a figure clad in a
>
> black wet suit.
>
>
> Putting aside the scuba
> tanks and mask and zipping down the top of the wet suit
> stood a drop-dead
> gorgeous blonde!
>
> She walked up to the
> stunned Irishman and said to him,
>
> "Tell me, how long
> has it been since you've had a good cigar?"
>
> "Ten years,"
> replied the amazed Irishman.
>
>
> With that, she reached
> over and unzipped a waterproof
>
> pocket on the left
> sleeve of her wet suit and pulled out a fresh package of
> cigars and a lighter.
>
> He took a cigar, slowly
> lit it, and took a long drag.
>
> "Faith and
> begorrah," said the castaway, "that is so good!
> I'd almost
> forgotten how great a smoke can be!"
>
>
> "And how long has
> it been since you've had a drop
>
> of good Bushmill's Irish
> Whiskey?" asked the blonde .
>
> Trembling, the castaway
> replied,=2
> 0"Ten years."
>
> Hearing that, the blonde
> reached over to her right sleeve,
>
> unzipped a pocket there
> and removed a flask and handed it to him. He opened the
> flask and took a
> long drink. " 'Tis nectar of the gods!"
> shouted the Irish
> man. " 'Tis truly fantastic!!!"
>
>
> At this point the
> gorgeous blonde started to slowly unzip
>
> the long front of her
> wet suit, right down the middle. She looked at the
> trembling man and asked,
> "And how long has it been since you played
> around?"
>
>
> With tears in his eyes,
> the Irishman fell to his knees and
>
> sobbed, "Jesus,
> Mary and Joseph! Don't tell me that you've got golf
> clubs in there
> too!"
>
>

Gleno, looks like they're dropping it now to take it up after the Fed minutes? Price has been falling since 1 Eastern, but only on a minor sell signal. There's a NERS sell signal in effect, but my overall signal system tells me it's a fakeout. JMHO. Two

DTS, it's like a Fed annct. day, isn't it? Amazing how we wait with baited breath for the pronouncements of a quasi-governmental agency made up of private banks? An agency that has contributed mightily to the destruction of the American and world economy. An agency directed by a second-rate Princeton economics professor who supposedly is an expert in the "Great Depression." The Fed is nothing more than a tool of the real power behind the grand wealth redistribution. Pardon the rant. Two

Hi, Gleno, it could be? I'm seeing two things happen this morning. The first, and less disturbing, is all the fakeout sell signals I've been getting. The second, and most disturbing, is the repeated "WrestleMania" pop-ups that crowd my screen. May the wrath of Andre The Giant's ghost be put upon Vince McMahon & Company. Two

That's what I figure, Beerworld. But I also think any slide will be stopped tomorrow morning and the "final chapter" in this stage of the March 9 rally will be written. Two

montanamark, they have no qualms about not exposing the truth, do they? Two

NM, they did a lot of praying before deciding on that two-day cup-and-shoulder formation. Inspired, wasn't it? Two

Yes, the talking heads don't do a very good job of eschewing obfuscation, do they? Two

Fox, here's my guess: I don't think QLD will rise above Friday's close (or even Monday's high, which also came near the close). Rather, I think QLD will come close, fail and drop. Today will end positive, however. JMHO. Two