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October 26, 2010 Posts

October 26, 2010 Posts

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Published by Albert L. Peia
business, law, finance, economics, current events / topics, stock market, forecasts, links to Albert L. Peia, Albert Peia, Al Peia, RICO, albertpeia.com
business, law, finance, economics, current events / topics, stock market, forecasts, links to Albert L. Peia, Albert Peia, Al Peia, RICO, albertpeia.com

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Published by: Albert L. Peia on Oct 27, 2010
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Business / Economic / Financial[This link to a somewhat more cumulative blog posts pagewill precede currentdays news since most all topics remain current in terms of impact andlonger-term effect and can be searched by topical index term more easily.The same is provided since the blog sitehttp://alpeiablog.blogspot.com has just been censored as to size by google which is typical for google asnsa / cia / gov’t shill as more are becoming aware of. The same is true for microsoft, another co. that’s seen their best days and relies on thegovernment to maintain their monopoly. Up to now the better pagehttp://www.scribd.com/alpeiais provided for ease of formatting and claritythereby while the Washington Post page is the real deal but withoutformattinghttp://www.washingtonpost.com/wp-srv/community/mypost/index.html?plckPersonaPage=PersonaComments&plckUserId=alpeia&newspaperUserId=alpeia]
Art Hogan of Jefferies, while being interviewed by Frank Motek indicated that nextweek will probably be a ‘sell on the news’ week, the absence of that rumor / b***s*** story, viz., the election results, being the precipitating factor [Come on ….Does anybody really believe that election results at this point in declining,defacto bankrupt america’s history mean anything at all (bi-partisan corruption,perpetual war policy, incompetence, etc, in all three branches of government)]. Hewas promptly cut off [they probably used an att line ( corrupt jersey based attnow owned by war criminal bushie bonkers Texas based sbc does thegovernment bidding which impacts on service and privacy)].Slusiewicz, asimmediately follows the table sets forth the same cautionary note, and
inter alia
, Iwould add the following for prospective full moon cycles in addition to thenumbers to help explain the fraudulent wall street lunacy (and yes, they arecriminally insane lunatics on wall street): YEARNEW MOONFIRST QUARTERFULL MOONLAST QUARTER2010 Moon Phases dates2010 Jan 7 10:40Nov 6 04:52Nov 13 16:39Nov 21 17:27Nov 28 20:36Dec 5 17:36Dec 13 13:59Dec 21 08:13 tDec 28 04:18  YearNew MoonFirst QuarterFull MoonLast Quarte2011 Moon Phases dates
2011Jan 04 09:03Jan 12 11:31Jan 19 21:21Jan 26 12:57Feb 3 02:31Feb 11 07:18Feb 18 08:36Feb 24 23:26Mar 4 20:46Mar 12 23:45Mar 19 18:10Mar 26 12:07Apr 3 14:32Apr 11 12:05Apr 18 02:44Apr 25 02:47May 3 06:51May 10 20:33May 17 11:09May 24 18:52Jun 1 21:03Jun 9 02:11Jun 15 20:13Jun 23 11:48Nothing to Cheer AboutSlusiewicz ‘My daughter is a cheerleader at her school.As you know, cheerleaders have to cheer for their teams through good and badtimes no matter what. It seems that investors today are acting as cheerleaders for the Federal Reserve. The current chant goes something like this; “Go Ben – Printmore money – Buy more Bonds! Go Ben Go – Buy more Assets!” It doesn’tmatter that this same Fed that back in the beginning of 2007, when New CenturyFinancial (the first big time subprime lending company) failed, the Fed continuedto talk about ‘excess liquidity.’ When the problems became worse the Fed saidthat the problems would be contained to only subprime loans. When theproblems spread from subprime to prime loans - this same Fed clearlyannounced that the problems would be minor and not extend into the rest of theUS economy. When the economy started into a full blown recession in 2008– Fedofficials were saying it would only be a soft patch in a robust economy until itwas too late. They were behind the curve ball all the way down. The firstQuantitative Easing program, which had the Fed buying mortgage securities in anattempt to keep interest rates low to stimulate the housing market, was onlypartially successful. Because, while interest rates for mortgages stayed low,seniors on fixed incomes suffered and the housing market still remainsvulnerable. So far Fed actions have not been too successful are reviving our economy on a widespread basis – just look at job growth or the lack thereof.Some will argue that without the Fed things would have been much worse. That isdebatable. My contention is that we would have dropped farther and faster, butthe recovery would have also been much quicker without the humongous debtburden we created that will likely last for generations. But that is not the point of discussion in this prose. The real concern is that if investors feel that America ison the road to recovery – what do we need to print another trillion dollars for (QE2)? Could it be that structurally we still have some issues? One would never know it judging from the complacency of investors. The VIX fear index is atextreme low levels. The AAII investors’ sentiment gauge also shows a high levelof bullishness and an extreme low level of bears. The spread from bulls to bearsis one that is normally associated with market tops. This could mean thatinvestors either trust or fear the bearded one who wields a big printing press.Institutions are also very bullish as mutual funds are carrying near record lowlevels of cash today. Also adding to the mutual fund dilemma has been the recordamount of redemptions by individual investors from stock funds over thepreceding several months. From a technical perspective, I see a very extendedrising bearish wedge pattern formed since the August 31st lows on the major 
indices. The market run up over that timeframe also has an eerie similarity to therun up from February to the April highs of this year. I observe a double topformation with the current and April highs and the markets are currentlyintersecting their respective 200 week declining moving averages, addingresistance to the uptrend. We have more volume on the down days than on the updays, signaling distribution. The High Frequency Traders that caused the flashcrash in May still constitute the majority of the volume each trading day – whichto me still demonstrates potential instability. The market set up is very similar tothe April highs, but the only thing missing is a catalyst to get the market movingup or down from here. I am very concerned about the inverse relationshipmarkets have with the US Dollar. Sentiment on the dollar is 100% bearish! The oldadage is to invest opposite of everyone else – especially when everyone is all onone side. You cannot get more bearish on the dollar than what it is today. If thedollar reverses back up and the inverse relationship holds true to form – then thestock market could be in for a reversal. Now the dollar bears are going to see theQE2 that’s coming and state that the dollar is going to continue its slide. It wasn’ttoo long ago that many pundits were saying that the Euro would not only drop topar with the US dollar – but it would cease to exist as a currency. Look what hastranspired since. The only certainty is change. Now is a time for caution! Somemajor events are coming soon. The election on November 2nd and the muchanticipated Fed announcement the next day to name a few. Clearly investors arecheering, hoping, and waiting for the next move by the Fed. November 3rd cannotget here soon enough. Is this going to be one of those buy on rumor and sell onnews events? Can the Fed live up to the expectations built into current marketprices for another round of quantitative easing? Will the Fed’s action reallyspread to the overall economy and create jobs and boost our nation into a self sustaining recovery? I’ll keep my daughter cheering on Ben Bernanke and hisfriends – “Go Bernanke – the economy doesn’t want another spanky” – or something like that. Disclosure: Author maintains positions in GLL, ZSL, TBT,PCH, PCL, EUO and cash’
Flat Finish on Wall Street Midnight Trader Oct 26, 2010 -- 
NYSE down 15.6 (-0.2%) to 7,530.80
DJIA up 5.41 (+0.05%) to 11,169
S&P 500 up 0.02 (flat) to 1,186
Nasdaq up 6.44 (+0.3%) to 2,497GLOBAL SENTIMENT
Hang Seng down 0.11%

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