My Home About Me

The US dollar is hitting new lows, foreign currencies are soaring (FXE,FXC,FXB,FXA,FXF), oil prices are over $90/bbl, commodity prices are hitting new highs, but this morning we are told that inflation is under control. How sad it is when our citizens can only get the truth at the end of every month when their checking accounts are bordering on overdrawn. Consumer confidence keeps declining because the CPI data continues to lie about real inflation. Here are the numbers; Consumer Confidence Consumer Price Index Jobless Claims- last week Consumer Sentiment We could go on and on, but why bore you with the obvious. This morning the Fed Funds Futures are signaling a 88% chance that the FOMC will lower the the Fed Funds Rate .25 basis points to 4.50%. The December odds are at 40% for another .25 basis point cut to 4.25%. As rates come down, inflation continues to soar! On the stock front, Google (GOOG) stock jumped to over $700/ share this morning. I find it amusing that not a single Google insider has any interest in hanging on to their shares for the long term. Every time they get a chance to sell stock they were GIVEN, not bought, they sell. Insider Selling on GOOGLE. If you were wondering how people become billionaires, keeping buying Google while the insiders are selling. Its simple math, you turn your money over to them when you buy the stock. Yes, I know, but the stock is skyrocketing! So did AOL and Amazon in 1999. If you want to know where the recent new life in the Nasdaq has come from, look no farther than Google (GOOG), Apple (AAPL), and Research In Motion (RIMM). The Nasdaq 100 is up over 400 points since the beginning of the year, and 230 points of those points can be attributed to the three stocks above. One day, without warning, the plug will be pulled. When the initial downturn comes, bargain hunters will view the decline as a buying opportunity. Then the second, third, and fourth wave of selling will drive share prices into the ground. It happened in 1999-2000, and it will happen again.

Emini's Nas 100   emini's S&P 500   VIX   $SOX   Semiconductor Index   Oil Service HOLDR (OIH)   Gold ETF (GLD)   ETFs (exchange traded funds)   Deron Wagner   Morpheus Trading   S&P 500   Nasdaq Composite   Dow Jones Industrial Average   Support/resistance levels   stock market technical outlook   emini's   Emini S&P 500   ES   Nasdaq 100   Head and Shoulders Top