One last note on the election!

We will get back to our regularly scheduled program tomorrow.

Nothing changed. This President came out and took no blame, made no changes and couldn’t care less about the will of the people. He told us there will be vetoes and executive action. This is in contrast to this:

Consider this nasty and biased question from a reporter to President Bush after losing the mid-terms.

“Thank you, Mr. President. With all due respect, Nancy Pelosi has called you incompetent, a liar, the emperor with no clothes and, as recently as yesterday, dangerous. How will you work with someone who has such little respect for your leadership and who is third in line to the presidency?”

This is how President Bush replied. “I’ve been around politics a long time. I understand when campaigns end and I know when governing begins. And I’m going to work with people of both parties. You know, look, people say unfortunate things at times. But if you hold grudges in this line of work, you’re never going to get anything done. And my intention is to get some things done, and soon—we’re start visiting with her Friday with the idea of coming together.”

What a difference!

We repeat…the Dems lost because of this!

President Obama is the face of the Democrat party. He is the head honcho, top dog, big cheese. Every word out of his mouth, every step he takes, every mistake he makes, every success he has, every truth he tells, every lie he tells, every thing this man does is watched, followed, applauded or put down depending on how you see things.

There is only one problem. There is not much to applaud and a heck of a lot to put down. So if the Dems lose, look no further!

1) $18 TRILLION OF DEBT: Of course, we cannot blame the Prez for all of this debt but we are approaching $7 trillion of new debt since he became the Prez. This from a man who came in saying he would do everything to cut it in half. In fact, this was his first lie as he immediately added a 100% debt-laden $800 billion of stimulus.

2) TRANSPARENCY: That’s a funny one.

3) The IRS: A couple hundred visits by the IRS to the White House at the same time they are targeting opponents. The Prez himself said he would get to the bottom of it and then later said it was much ado about nothing. This comes under the heading…don’t piss on me and tell me it’s raining.

4) RED LINES: When the head honcho, top dog, big cheese threatens a country who is murdering their own people and then walks it back, all murderous dictators around the globe become emboldened.

5) FOREIGN POLICY…WHAT FOREIGN POLICY!: He talks harsher about Israel than Iran! He watches Isis grow and not until beheadings does he react. Again…Syria…Russia…shall I go on?

6) SGT. SCHULTZ: “I know nothing!” I know nothing about bad websites. I know nothing about losing insurance. I know nothing about higher premiums. I know nothing about what happened with Ebola. I know nothing about the IRS. I know nothing about Benghazi…which leads into:

7) II IS EVERYONE ELSE’S FAULT WHEN IT’S BAD BUT ALL BECA– USE OF ME WHEN IT’S GOOD!: Bad economic quarter…leftover from Bush. Good economic quarter…look what our policies have done. Something happens, it is Bush or the bad Republican’s fault.

8) HORRIBLE NEGOTIATOR: 5 Gitmo terrorists for 1 soldier who may or may not have been a deserter. And speaking of that, where is the report on Bergdahl? Aren’t we the superpower?

9) FAKE UNEMPLOYMENT NUMBERS: I could take the unemployment rate down to 2% today…just take millions out of the work force…just like the millions who have supposedly left the work force since becoming Prez. 2 words…PARTICIPATION RATE!

10) EMPLOYMENT AND LIVING STANDARDS FOR MINORITIES ARE JUST PLAIN BAD: The numbers are staggering. Food stamps, welfare payments…on and on. Too much talk of these payments and hardly any talk on how to get off welfare.

11) LIES IN PLAIN SIGHT: They are numerous but just look at Benghazi and Susan Rice. A plain lie in plain sight! Comes under the heading…they think we are stupid!

12) WHO IS THIS MAN? Who is this man that would go play golf and take pictures laughing, fist bumping and having a great time…minutes after announcing a beheading? The media called it bad optics. We wonder if this is just who he is.

13)IMMIGRATION! Don’t even know where to start!

14,15,16…) HIGHER TAXES…MORE MANDATES…MORE REGULATIONS…EXECUTIVE ORDERS…DECISIONS PURELY FOR POLITICAL SAKE…PICKING AND CHOOSING WINNERS AND LOSERS…PUTTING DOWN OF OTHERS…REFUSAL TO BRING OTHERS TOGETHER…

Many are now calling this the worst administration in ages…and not just from the right. This even coming after the mess Bush made out of his administration with Iraq and other things. I am actually hard-pressed to name successes. I know the Prez mentions the economy but an economy that is built on rigged interest rates doesn’t do it for me. And those low rates make the gap between rich and poor even wider. I am of the belief all politicians are lucky they have us. They are not the economy. We are the economy. Our hard work…our toil…our risk dollars…our knowledge…our expertise…our everything. Without us, government has nothing. I believe this Prez believes the opposite. He believes without Government, we would have nothing. Unfortunate!

NOW THAT THE REPUBLICANS WON THE SENATE…A WORD TO THE WISE! YOU WORK FOR US! WE DO NOT WORK FOR YOU! IF YOU AB– USE THIS RELATIONSHIP LIKE THE DEMS JUST DID, YOU WILL BE OUT ON YOUR ARSE IN THE NEXT ELECTION!

The Funny Papers…I mean the NY Times…all of a sudden does not want mid-term elections!

I gather this would not have been written if the Dems were winning elections!

SOURCE: http://www.nytimes.com/2014/11/03/opinion/cancel-the-midterms.html?_r=3

The only thing that matters today!

GO VOTE! GO VOTE! GO VOTE! GO VOTE! GO VOTE!

If the Dems lose the Senate look no further than Barack Obama!

President Obama is the face of the Democrat party. He is the head honcho, top dog, big cheese. Every word out of his mouth, every step he takes, every mistake he makes, every success he has, every truth he tells, every lie he tells, every thing this man does is watched, followed, applauded or put down depending on how you see things.

There is only one problem. There is not much to applaud and a heck of a lot to put down. So if the Dems lose, look no further!

1) $18 TRILLION OF DEBT: Of course, we cannot blame the Prez for all of this debt but we are approaching $7 trillion of new debt since he became the Prez. This from a man who came in saying he would do everything to cut it in half. In fact, this was his first lie as he immediately added a 100% debt-laden $800 billion of stimulus.

2) TRANSPARENCY: That’s a funny one.

3) The IRS: A couple hundred visits by the IRS to the White House at the same time they are targeting opponents. The Prez himself said he would get to the bottom of it and then later said it was much ado about nothing. This comes under the heading…don’t piss on me and tell me it’s raining.

4) RED LINES: When the head honcho, top dog, big cheese threatens a country who is murdering their own people and then walks it back, all murderous dictators around the globe become emboldened.

5) FOREIGN POLICY…WHAT FOREIGN POLICY!: He talks harsher about Israel than Iran! He watches Isis grow and not until beheadings does he react. Again…Syria…Russia…shall I go on?

6) SGT. SCHULTZ: “I know nothing!” I know nothing about bad websites. I know nothing about losing insurance. I know nothing about higher premiums. I know nothing about what happened with Ebola. I know nothing about the IRS. I know nothing about Benghazi…which leads into:

7) II IS EVERYONE ELSE’S FAULT WHEN IT’S BAD BUT ALL BECA– USE OF ME WHEN IT’S GOOD!: Bad economic quarter…leftover from Bush. Good economic quarter…look what our policies have done. Something happens, it is Bush or the bad Republican’s fault.

8) HORRIBLE NEGOTIATOR: 5 Gitmo terrorists for 1 soldier who may or may not have been a deserter. And speaking of that, where is the report on Bergdahl? Aren’t we the superpower?

9) FAKE UNEMPLOYMENT NUMBERS: I could take the unemployment rate down to 2% today…just take millions out of the work force…just like the millions who have supposedly left the work force since becoming Prez. 2 words…PARTICIPATION RATE!

10) EMPLOYMENT AND LIVING STANDARDS FOR MINORITIES ARE JUST PLAIN BAD: The numbers are staggering. Food stamps, welfare payments…on and on. Too much talk of these payments and hardly any talk on how to get off welfare.

11) LIES IN PLAIN SIGHT: They are numerous but just look at Benghazi and Susan Rice. A plain lie in plain sight! Comes under the heading…they think we are stupid!

12) WHO IS THIS MAN? Who is this man that would go play golf and take pictures laughing, fist bumping and having a great time…minutes after announcing a beheading? The media called it bad optics. We wonder if this is just who he is.

13)IMMIGRATION! Don’t even know where to start!

14,15,16…) HIGHER TAXES…MORE MANDATES…MORE REGULATIONS…EXECUTIVE ORDERS…DECISIONS PURELY FOR POLITICAL SAKE…PICKING AND CHOOSING WINNERS AND LOSERS…PUTTING DOWN OF OTHERS…REFUSAL TO BRING OTHERS TOGETHER…

Many are now calling this the worst administration in ages…and not just from the right. This even coming after the mess Bush made out of his administration with Iraq and other things. I am actually hard-pressed to name successes. I know the Prez mentions the economy but an economy that is built on rigged interest rates doesn’t do it for me. And those low rates make the gap between rich and poor even wider. I am of the belief all politicians are lucky they have us. They are not the economy. We are the economy. Our hard work…our toil…our risk dollars…our knowledge…our expertise…our everything. Without us, government has nothing. I believe this Prez believes the opposite. He believes without Government, we would have nothing. Unfortunate!

BOJ takes over for FED!

There is a reason we have issued a disclaimer both here and on our radio show as the markets were heading lower. The disclaimer simply stated that if QE was indeed reinstated, all bets were off on the downside. Conveniently, as the Fed wound down its QE program (FOR NOW), the BOJ ramps it up. How about that? Nothing to see hear. Ladies and gentlemen, you get to decide if this was a coordinated effort as markets were crumbling. You get to decide if all this was leaked in advance which turned imploding markets into a bullish romp. Of course, there is never ever any chicanery going on between government and Wall Street. You obviously know what we think.

That said, markets have loved QE…and we know any weakness will result in Yellen going back to QE also. So markets are still listening and listening well.

Technically, this V-shaped move is what we call an outlier event. But as technicians, we deal with what is in front of us. We thought the big reversal was a near-term low and would lead to upside testing but no way we believed all the way into new highs. With markets more stretched and overbought to the upside than they were stretched and oversold to the downside, one would expect some backing and filling…eventually. We thought that would occur around 50 day moving averages but that lasted one day.

We will know a lot more this week on how the market takes in the V-shape. Not jumping the gun.

Lastly, make your vote count by going out and vote.

More QE and not by accident! Government run markets get even bigger!

We had so many other things to say today but as we woke up, futures are flying. The first thing we thought was another announcement of printing of money. And away we go. Japan, who we believe has been printing and easy for about 700 years…announces an additional monster amount of printing. This was no accident. This was a coordinated effort to get the gravy train continuing as our Fed could not go back on their word of stopping QE…so someone else picked up the slack. Money printing is a worldwide, coordinated effort. They refuse to let the markets trade on their own. The corporation called “Government Run Markets” just expanded. We will give this company the stock symbol GRM.

Major indices are amazingly gapping up to or just above old highs. We have now seen the mother of all V-Shaped moves. We have told you that no matter what the markets look like, if they surprise and expand the money printing, all bets on the downside would be off.

Now that everyone is frothed up, just a last little word to the wise. The recent nauseating drop ended with a big gap to the downside and a gargantuan reversal to the upside.

Weekend report is up next.

$18 Trillion of debt and Bloomberg/Business week says this…

I would love to comment on this lunacy but I don’t need to say much. Just repeat after me, $18 trillion of debt…$18 trillion of debt…

SOURCE: http://www.zerohedge.com/news/2014-10-30/businessweek-wants-you-become-keynesian-debt-slave

Random thoughts

The Fed will start another round of money printing on any real weakness in the markets. Count on it!

Every 10 cent drop in gas prices is $10 billion back into the economy. There is no bad news in this story. Biggest beneficiarys are airlines and truckers.

Much talk about this v-shaped move in the market failing. Not so sure. Easy money works. Still finding many more stocks and groups in the negative column than in the positive column…even with this recent move up.

Gold and silver sink deeper into the abyss. The gold bugs never give up though. Rule #1…never fight the trend and for the better part of 3 years, these areas have been bearish.

This administration remains a jumbled mess. Blasting the head of Israel while currying favor with Iran…different rules for different people on Ebola…a refusal to do what’s logical to protect the folks…a clear disregard on transparency and the treatment of any one who has a differing opinion…and that’s just this week.

Speaking of this administration, they are now looking to lower the standards on getting mortgages with some mortgages with just about no money down. Yup…that’s worked well before. Insanity continues to rule the day in Washington.

In case you forgot, an election will be held next week. My bet is the Republicons take the Senate over the Democraps. Nothing will change though as this Prez will enact whatever he wants. Never knew a prez could have so much power without the house and senate.

Watching my Knicks down 33 points to the Bulls as I write this. Just another crappy year coming up. Chicago is stacked and if they stay healthy, they win the east over the Cavs and lose to the Spurs in the finals. The Spurs are that good.