Friday, February 1, 2013

In Debt We Trust - Documentary

 In Debt We Trust shows how the mall replaced the factory as America’s dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major bank economist calls modern serfdom.
Americans and our government owe trillions in consumer debt and the national debt, a large amount of it to big banks and billions to Communist China. EXPERTS AGREE: A top government official compares the US today to Rome before its fall and warns that the bubble could burst.
A former prosecutor says that many of these loans are worst than mafia loan-sharking practices. An ex-credit card executive explains how advertising campaigns are deliberately deceptive and misleading.
ROBIN HOOD OR ROBBING THE HOOD: A real estate expert reports that tens of billions of dollars, are being transferred from the pockets of the poor into the vaults of big banks which use front groups and subsidiaries to camouflage their association with rip-off loans charging exorbitant interest rates. (Excerpt from

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Hello Stagflation

by Martin Armstrong
Armstrong Economics

The U.S. economy shrank from October through December for the first time since the recession ended.We are looking at the net effect of Obama’s Voodo-Economics. Yes, the US economy was hit by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The decline occurred despite faster growth in consumer spending and business investment. Government still has not figured out that in the real world, people respond in anticipation.
All our indicators have been pointing to STAGFLATION as the COSTS rise but the DEMAND is reduced. Raising taxes as drastic as has taken place with payroll (including Obamacare) has increased the cost of labor in the USA by about 10% at one clip. It would be nice if they made real world economics MANDATORY to get a law degree, for way too many lawyers take up office and they may know how to write laws, but are clueless about how people react economically.
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Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR)

Optimer Pharmaceuticals, Inc., a biopharmaceutical company, focuses on development and commercialization of pharmaceutical products. It offers fidaxomicin tablets, an antibacterial drug for the treatment of adult patients with Clostridium difficile-associated diarrhea (CDAD). The company sells its fidaxomicin products through wholesalers to hospitals, retail, and specialty pharmacies in the United States. It also has fidaxomicin under Phase IIIB clinical trials for the treatment of CDAD prophylaxis and CDAD in oncology patients; and under Phase II clinical trials for the treatment of pediatric CDAD treatment. In addition, the company has Solithromycin product under Phase II clinical trials for the treatment of respiratory tract infections; and OPT-822/821 product under Phase II/III clinical trials for the treatment of breast cancer.
To review Optimer's stock, please take a look at the 1-year chart of OPTR (Optimer Pharmaceuticals, Inc.) below with my added notations:
1-year chart of OPTR (Optimer Pharmaceuticals, Inc.) For the last (3) months OPTR has been stuck within a common pattern known as a rectangle. Rectangle patterns form when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. OPTR's rectangle pattern has formed an $11 resistance (red) and a $9 support (green). A break below $9 would also be a new 52-week low.
The Tale of the Tape: OPTR has formed a rectangle pattern. The possible long positions on OPTR would be either on a pullback to $9, or on a breakout above $11. The ideal short opportunities would be either on a break below $9, or on a rally back up to $11.

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Expect A Massive Silver Short Squeeze

from KingWorldNews:
People (and countries) have to evaluate and be comfortable, themselves, with the condition of the global financial system. We know we were on the cusp of what could have been and probably should have been a systemic global financial meltdown just a few years ago.
Anyone who does the math can make a more compelling case for silver than gold … The amount of claims on silver that exist relative to the known amount of silver above ground, those numbers are even more staggering than they are for gold … It (silver) could easily go up ten times. We’re also bullish on silver. We own silver.
William Kaye continues @

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Fear & Greed Index Showing Signs of Extreme Greed

Interesting new indicator here from CNN Money that attempts to track the level of fear and greed in the market.  They calculate the index using 7 indicators:
Investors are driven by two emotions: fear and greed. Too much fear can sink stocks well below where they should be. When investors get greedy, they can bid up stock prices way too far. So what emotion is driving the market now? CNNMoney’s Fear & Greed index makes it clear.
The current reading of 86 is consistent with a market in which participants are extremely greedy.   I haven’t run much in terms of backtesting this indicator, but it looks like one that’s worth keeping an eye on.
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Richard Russell – Silver Interesting, Massive Short Position / January 30, 2013
With gold on the move and silver surging above $32, the Godfather of newsletter writers, Richard Russell, covered stocks and informed his subscribers that silver looks very interesting to him because of the massive short position.  Here is what Russell had to say: “As of yesterday, the Dow has been up 12 out of 14 sessions.  The market is either close to exhaustion or the short sellers are near panic.  The shorts must be thinking at this point that this market is never going to go down. With that brand of thinking, the shorts must be near panic.”
Richard Russell continues:
“Their reaction — they call their broker and shout, ‘I can’t take it anymore.  Buy my shorts — I don’t care what the price is — I’ve had it, and I want out.  If I ever hear the word “short” again, I’ll shoot somebody!’”
Russell also covered silver: “Silver is beginning to look interesting to me.  About a month ago, I showed charts of silver mining stocks that had exploded.  This suggested to me that something bullish was coming up in silver.  Since 2003 silver has gained 1,012%, and in doing so it has outpaced gold.
At present the overgrown supply of silver is dangerously low.  This sets us up, say silver experts, for a huge squeeze on the silver shorts.  On the Comex there is currently a giant silver position, a position that almost dwarfs the available supply of free silver.
The chart below looks interesting.  Silver reversed a declining trendline and then silver dropped to test its 200-day MA, where it held.

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Newmont Mining Corp (NYSE: NEM)

Newmont Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, New Zealand, and Mexico. As of December 31, 2011, it had proven and probable gold reserves of approximately 98.8 million ounces and an aggregate land position of approximately 31,500 square miles. The company was founded in 1916 and is headquartered in Greenwood Village, Colorado.
Before discussing potential trading opportunities, please take a look at the 1-year chart of NEM (Newmont Mining Corporation) below with my added notations:
1-year chart of NEM (Newmont Mining Corporation) Over the last (9) months NEM has commonly found support at the $43 level (red). The stock has also been trending lower since September even though the overall market has moved to new highs during that period of time. This down trend would seem to imply that NEM is gearing up for a break of support, which the stock appears to have done yesterday.
The Tale of the Tape: NEM may be breaking its level of support at $43 and the stock could be moving lower. A short position could be entered on a more convincing break of $43 with a stop placed above that level. If the stock holds $43 a long trade could be made with a stop below the level of entry.

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