The World Enquirer Wall Street Commentary

The market continues to be bullish. For now, the indicators are bullish. Each decline has shown evidence of exchange insider accumulation. The banks are continuing to go higher.

prior entry: FEB 1

The market has stabilized and is breaking out to the upside. The bank stocks are continuing to get stronger which is a very positive sign. Investors should be holding or buying since exchange insiders are continuing to accumulate.

prior entry: JAN 29

Weekend Report: The market has stabilized as can be seen on the VIX index. There should be less volatility over the near future. Stay long on the market. Quarterly earnings have been good. However, the market may go sideways for a while. The banks continue to look good as can be seen from Bank of America. The major problem continues to be the European debt problem. However, much of that has already been discounted. If Netflix drops back down below 100, it will be a buy, because the charts are indicating a move to the 150 level. Any correction in the market is a good sign for buying for the longer term.

New Year Entry: There is hope for the market. The averages have not actually broken above major resistance levels. However, the chart pattern that has developed over the past two months seems to be bulllish with an inclined triangular pattern and a flat line top at present levels. Although there is nothing great about economic policy, there is not much more damage being done. The Administration has at least stopped the damage mostly because Congress is no longer passing the dumb ideas of the far left. The banks are still in trouble, but the big banks have the power to eventually come out of it given time. This is the time to stay bullish despite the radical moves of the market. The VIX index has declined which is a positive. The overnight index futures on the major averages remain a problem, but you should understand that these are being used by brokerage houses to make money on buying and selling stock.

prior entry: DEC 25

MERRY CHRISTMAS

Closing Report: PAY ATTENTION: Once again I have demonstrated how the market is legally crooked. Last week, the market went down into options expiration. Now that brokerage house loaded up on stock from unwinding of options and people selling into the decline, the market is suddenly going higher as if a miracle has occurred. People have got to be totally naive not to see any of this. This is all part of the establishment control from government right down to the dealers.

prior entry: DEC 16

Midday Report: Evidence that the market is legally crooked can easily be seen by observing IBM and Apple. Even with the strong rally on the Nasdaq this morning, IBM was actually down and Apple was not very much ahead. At this time, I notice that IBM is about 5 points down and Apple is trading at the 380 level again. This is all because of options expiration today. Apple is continually being gyrated to the 380 level. Okay, I am sure that the brokerage houses will say that the unwinding of option positions will cause this to happen. However, the point is that many investors who have taken long positions or are on margin may not know this and they are losing heavily or are forced to sell while the brokerage dealers who do know the system are making money from it. That is what I call being legally crooked. How come the system is always geared in favor of exchange insiders???? So who cares about all those people that lost huge amounts of money on Apple thinking that it would have to go up after the good news by UBS about two weeks ago. I suspect that UBS put out that news of higher guidance on Apple's earnings so that people would buy as dealers at UBS shorted. I suspect that the same is occurring with IBM and many other stocks.

prior entry: DEC 15

Midday Report: It seems like we should always be aware of options expiration which is this Friday. The market was taken down in order to take many of these call options to zero. The market remains bullish and nothing has really changed. The problem is that exchange insiders are crooked and they are devious and they work with the system. Many things can happen as options expiration nears. As bullish as Apple may be, here is what occurred as an example. Earlier this week, Apple was up only about two dollars in the face of a good rally. Some force was acting to keep Apple down and not go much over 394. Apple plunged down to the 380 level. Why? Someone is making money on this. All those call options went to zero. Now it is being held at the 380 so that the 380 options will all expire worthless. Even with the rally this morning, Apple went no where. Some force is keeping it down as brokerage dealers accumulate stock. This is why I say that the market is legally crooked. Many investors are having to sell at these low levels, because they do not understand what is going on here. Apple stock is being force down. First of all, options expiration is crooked and should not occur every month. It should happen only once every three months. This options system is used by brokerage houses to screw the American investor. Always beware of expiration every third Friday of the month.

prior entry: DEC 12

Midday Report: Despsite the decline this morning, the low of this morning is quite even with the low of two sessions ago. This may be the right time to buy or hold. Dealers are picking up a lot of stock today based on the static from Europe. The indicators are getting more oversold now while the MACD line remains positive, and the charts do not show a break to the downside against the 50 day average line. We wait for the close.

prior entry: DEC 11

Sunday Report: It should be noted that the 50 day average line has crossed above the 100 day line on the major averages which is bullish. The bears are now less likely to short over the coming days which will open more ground to the upside. This is also options expiration week, and it does seem as if much of the unwinding has occurred over the past few days. The situation looks bullish, but we wait to see if this begins early in the week. More volume is needed along with any amount of good news. Plenty of money is still in limbo by the major funds. We wait for a resolution. The S&P is free to hit the 1350 level.

prior entry: DEC 10

Saturday Report: The averages have not quite broken out, but they are very close to that point. December is looking good at this time. Any talk of any solution to the European situation will be positive for the market although any solution may not really be all that good to cure the problem. Remember that the MACD line is now on positive ground and the averages have come off overbought levels.

prior entry: DEC 9

Midday Report: Thursday's close was important. Big block selling occurred either for reasons of option unwinding or fear. The point is that dealers picked up all that stock at the lows of the day. You can see the results of that today. Next week will be exciting. The market seems to want to break to the upside. The VIX has declined which is bullish. The stochastics indicator has declined a bit showing the correction, and the MACD is running upward which means there is underlying strength. As a result, something has to give here soon. The banks are still going strong. We wait for some action next week.

prior entry: DEC 8

Midday Report: The market may be stronger than what investors may realize. You should note that the MACD line has turned positive on the major averages. The present correction is normal and should be bought. This correction is merely causing investors to sell and/or short and that is what brokerage dealers desire. Yesterday was a good example of what dealers are doing. Apple was being sold all day long. At the close it rallied, but someone sold in a big way just minutes before the close. Brokerage dealers already knew that some fund was selling and bought up the whole mess into the close. Why were these dealers buying as idiots were selling? You saw this morning the reason. The brokerage houses already knew that UBS was going to declare increased sales for the iphone into January with an increase in the estimated earnings. As a result, Apple was up first thing this morning. UBS is a brokerage dealer and they already knew since the news was coming from them. Can you now see why this is all legally crooked? The people that sold yesterday will simply take their lumps as usual and shut up. That is the name of the game. The situation in Europe is just a diversion to keep investors occupied with pure crap instead of focusing on what is going on here. It is too bad that no one at CNBC talks about this. Today, CNBC is spending all their time talking about Corzine. Where did the money go is the question. So where is the FBI in all of this?

prior entry: DEC 6

Midday Report: The market averages actually look positive despite the overbought conditions of the indicators. It is probable that exchange dealers are using this stop to adjust stock inventories and try to get people to sell on the dips. The banks are looking better.

prior entry: DEC 1

Midday Report: The market looks good for now. It is good that the market went down a little this morning. It means that broker-dealers had a chance to adjust their accounts. The market is still heavily shorted and all of these shorts really should be taken out. Although the Dow showed a little weakness this morning, you should have noted that the Nasdaq did not show very much weakness. The rally power remains with the Nasdaq at this time. We watch to see how the last hour of trading goes since that is the most important time of the trading day.

prior entry: NOV 30

Midday Report: There will always be people that will dispute my contention that the market is legally crooked. Yesterday, the S&P downgraded some major banks. As a result, people sold out of Bank of America, Citi, and WellsFargo. So what happens today? There comes an announcement that liquidity will be given to the banks. This is great for those that bought from yesterday's sellers. Those that either sold or sold short yesterday are screwed. Hey, but who cares. The establishment can easily dismiss any complaints by simply stating that investors take their chances when they invest. I got suspicious when I heard of the downgrade on Tuesday. Now, don't you think that maybe brokerage houses were prepared with knowledge in advance, but allowed thier own clients to sell their stock at the lows?

prior entry: NOV 29

Midday Report: Instead of lowering taxes on business, Obama is thinking of another lame-brain solution. He wants to help to bail out the Euro. It might just happen. The Euro is heavily shorted, and the European problems are being portrayed in the media as a very serious situation that could crash our economy. As a result, it is causing the American investor to do the wrong thing in our own markets. It is causing investors to either sell or short at these levels. As a result, certain inside forces could be buying. We will know before very long. While the market may look very weak, we do not know what George Soros may be doing with the Euro. Keep in mind that Soros has deep roots with the Euro against our Dollar.

prior entry: NOV 23

Closing Report: The financials are now heavily shorted. This is not the time to either short or sell. Market makers are most likely covering shorts against investor shorting. The Bank of America seems to be forming a near term double bottom at just above 5. Since Friday will be a quiet day, we wait for Monday. The super committee is now news gone by and is no longer a factor. The Euro is now getting to be a burned out affair that is discounted. U.S. corporations are doing just fine. Furthermore, our banks are doing much better than foreign banks. Some of the foreign banks are making deposits into our own banks as a safety measure. We wait for a rally.

prior entry: NOV 17

Closing Report: Near term support was broken with the next support at S&P 1205. The VIX index being so high still indicates that there will be fast movements up and down based on the media slant concerning Italy and Greece and the Euro. Along with the European problem, we have a Super Committee which never should have been formed in the first place. For those of you that believe that the U.S. should be globalized, as given by George Soros, well, we can now see what happens when our lives become dependent on the European socialist system. Italy and Greece are doomed. Spain and Portugal are going under. Soon, France might be downgraded. Why would you want to be partnered with these people????

prior entry: NOV 16

Midday Report: The averages continue to hold at support despite the overnight futures and being down early in the morning. The Dow is holding at the 12000 level and the S&P is holding at 1250. The major banks are also holding well at current levels. Short term chart patterns continue bullish on the major averages. Although Italy and Greece have major problems, you should keep in mind that the other socialist nations will support the socialist agenda despite the stupidity of their systems.

prior entry: NOV 15

Midday Report: The Dow came right down to the 12000 as the S&P dropped to 1250 which is support. The pattern on the Dow is bullish. The patterns on the S&P and Nasdaq are pennant side formations and a break either up or down will mark the next trend. The banks are holding and remain a resonable buy. Keep in mind that the VIX is still showing high volatility which accounts for the big up and down days.

Sunday Report: The chart patterns are looking more bullish. The banks have all been beaten to a pulp. I notice that the chart for Bank of America has just begun what seems to be a reverse head and shoulders at the 6 level. If it can hold at the 6 level, it will ring in a longer term buy on BAC. If you look at the charts of all the major banks going back some ten years, it should become easy to see that BAC has the most potential since it is the most volatile of the bank stocks. BAC is now at 6, but it has been as high as the 50 level over the past 10 years. That is why Warren Buffet is leaning with BAC. BAC is secure and has gone to undervalued levels. The major banks are not going under.The past few weeks has been a sham considering Greece and Italy. The market has been manipulated with exchange insiders screwing with the overnight futures. Each day the news would vary concerning Europe. The big brokerage houses and the media got together and just rolled over investors. In the end, you will see that somehow a miracle will occur. As usual, the average investor will not even realize what actually occurred.

prior entry: NOV 2

Closing Report: Okay, the market has held above the breakout point. It is starting to look much better now, and we could be developing a new sideways channel well above those lows from two months ago. The European problem is becoming old news now. Capitalism is great, because it can take care of itself quite well and recover. Socialism, on the other hand, will always require government control and such is the problem in Europe. The U.S. should separate from the ideals of other nations. We may be going slowly on the road to recovery with no thanks to government. The government is most likely actually slowing down the recovery. For now, the charts are looking good, but wise choices still must be made. The banks are still weak, but the banking stocks are undervalued. It is also a good sign that analysts are downgrading the banks, because as we all should know by now, most of the analysts are employed by those who have their own motivations.

Closing Report: I stated some time ago that there would be riots in the streets. We are seeing it in Greece. We are seeing the start of it in the U.S. It is all driven by marxists who now see the chance to take advantage of the weakness in the striken. It is when the economy is bad that these vultures come out of the woodwork to use like pawns those who have been striken with misfortune. The amazing thing about our own situation is that President Obama is instigating the trouble through his far-left backers. Instead of blaming himself, he is blaming the new Congress. This is developing like a science-fiction movie. What happened to Apple today, and what happened to all those people that bought the stock yesterday based on brokerage analysts that the target was $500? Who made money on today's drop? Still, the analysts keep pumping the prices. Meawhile, Harry Reid said today that we need to spend money on creating government jobs because private sectors jobs are doing okay. Can you believe the insanity of this guy. He is just as bad as Pelosi. They should both be married to each other. They say these stupid things and get away with it. We are all in trouble.

prior entry: OCT 17

Closing Report: IBM reported today at the close.....not on Tuesday. Now we see why they rallied it. As IBM went higher, exchange insiders were selling. IBM reported good earnings but came up slightly short on signings. There is always a reason to be given. Of course, selling in the afterhours at $10 down is foolish. Nevertheless, the action in IBM is not good. We wait.

Midday Report: On Friday, the averages closed at the very highs of the day, and this is a bearish signal. This is because broker/dealers are selling and shorting into the buy at the close orders from investors. Whenever the market either closes at the highs or the lows, care must be taken for it could mean a reversal on the following open. The banks are weak again. I have said it over and over again that the market can only go much higher from the trading range if the financials are going with it. We now wait for IBM to post the quarterly today. Time is running out once again for a breakout to occur. By the way, the European mess will take longer to solve. Obama is going to the G20 to do nothing but get us into more trouble. The World Bank will want us to bail them out.

prior entry: OCT 13

Midday Report: On Wednesday, most of the major averages hit the very top of the trading range on light volume. Even as the Dow was going over 200 points for the day, it became clear that volume was failing. The stochastics indicator was at the very top of the scale. Meanwhile, Alcoa was already failing. This left us with JP Morgan reporting this morning and the news was not all that good. Meanwhile, I keep woondering why IBM is being pushed to the highs before it reports next week. This morning, the banks are weak again despite the big rally of recent days. If you look at the JPM chart, it should become clear that the chart is clearly bearish with a gap down. The Nasdaq is being helped by Apple and Amazon. I agree that Apple will be a great company for years to come, but I would never buy it here. For now Apple is holding in sympathy for the greatest CEO of our time, but this will wear out because Apple is not really the same any longer. The problems continue in Europe and here. There is no bullish direction as yet. There is no plan of action. Europe will merely try to extract a bailout from the U.S., and we will agree to it. That is what you get when we tie ourselves to the world economy. It will drag us down. It is meant to bring us down to the level of secondary nations.

prior entry: OCT 7

Midday Report: The VIX index remains very high which means that there can be big moves either up or down but with a downward bias. The recent rally has been good, but I continue to see people being dragged into a bad market while the big brokerage dealers continue to make money with devious intentions. The upper resistence line is now very close but people are being convinced that the quarterly reports will all be very good. Meanwhile, Europe is still in trouble. However, the recent rally was started on the idea that things looked better for Europe according to the media. Nothing has really changed in Europe, and nothing has really changed in the U.S. Obama continues with the idea of spending our way out of this trouble while Congress refuses to go along. Let's face it! Obama is no Bill Clinton. Obama is arrogant. Spending money on construction jobs and hiring new and more liberalized teachers is not the solution. Just how many people that are now out of work are construction workers? I could not work coonstruction no matter what...... Something is wrong with Obama's way of thinking. We are facing disaster. Luckily we still have some smart people in business that went through colleges other than Harvard. We really did lose a good role model this week. Steve Jobs came from the old school. These were people that believed that if you truly enjoyed your work the money would come, and he did it without government handouts and intervention. The next item is Bank of America. I am truly disappointed at this group. The stupidity goes on. These banks spend so much money on getting accounts and then they destroy it all with dumb decisions that will lose accounts. It is almost as if the government and the banking industry are operating on the same level. Actually, they are.

prior entry: OCT 4

Midday Report: The major averages have all broken down as predicted. The rally attempt this morning was doomed to failure. This market does not look very good at all and the probability is that we will see a leg down. There is some support on the S&P at 1020-1050. The Nasdaq has support at 2100. While stocks look very cheap, they may become even cheaper. If all goes well, we may see a bottom by mid-October. We wait.

prior entry: OCT 3

Closing Report: The NYA has broken through support by a wide margin. The S&P closed below 1100 which is right at support. Tuesday will be a bid day. Indicators such as the MACD are very negative. I could see that brokerage dealers had unloaded stock on the last rally based on the flimsy news that maybe Europe was okay. Today the news was not so good. As you can see, the powerful people behind the news are right in line with the big brokerage houses and both of these groups are screwing the American investor.

prior entry: SEP 29

Midday Report: I will say this again. The stock market system is just as corrupt as those in charge of the government. The Attorney General is just as corrupt as the big Wall Street brokerage houses. Who do you think is responsible for taking the futures up during the night??? The big brokerages like Goldman Sachs force the futures up so that they can get investors to buy in the morning. The attorney general has to be totally naive not to see this and you have to be even more naive not to realize this. For that reason, the market will not make a good bottom if the futures are taken up after a negative close on the prior day. It is all crooked. Okay, so they took out the specialists and they replaced the old gangsters with the new gang. Why does Goldman Sachs love the Obama Adminstration? It is because there is a link between the two. Goldman Sachs takes the wealth from investors and then supports the liberal dictatorship with the money. Meanwhile, continue to look at that NYA chart and you should see the weakness in the full market. The Dow and S&P charts are used to manipulate investors. Hardly anyone mentions the NYA on CNBC. By the way, CNBC is a travesty that is worth watching but not believing. CNBC is tied in heavily with Goldman Sachs in advertising and GE is tied in with

Obama. They are all corrupt.

Look at how that NYA chart is veering downward over the last few sessions. It is showing weakness with a down channel while the S&P chart is still showing the average within a sideways channel pattern.

prior entry; SEP 28

Midday Report: I am still concerned about the market when looking at the NYA chart which is composed of all the stocks. Check it out. The chart pattern is different from the Dow or S&P, and this is unusual. The pattern on the NYA is that of a downtrend channel and it indicates more weakness than what shows up on the S&P.

prior entry: SEP 27

Closing Report: Now we can see why the VIX is so high. It is back and forth within a range, but eventually it will break out of the range. On this Tuesday the rally looked very strong and people jumped at the highs as brokers sold to them. This market still does not look very good. The banks were up strongly but by the close their gains were not good. The news media at CNBC continues to say that our market is influenced by Europe. I say that we are being influenced by Europe only because the media is saying so.....not because it is true.

prior entry: SEP 21

Closing Report: I stated in my last commentary that we were at the top of the trading range. Once again the timing was perfect for the brokerage dealers. I am telling you that it was all planned this way. the averages were at the top just as Bernanke gave his speech and just as Moody's announced that it had downgraded Bank of America, WellsFargo and Citibank. Meanwhile, investors were jumping in right up to the crash of the day. Coincidence???? If you are naive enough to believe that... It was all planned out. Nothing has really changed from decades ago. The legal crooks that have SEC licences are still there and only the faces have changed. This thing with the banks is not good. This market will not see a major advance if the banks are in trouble. I saw analysts with targets on Apple at over 500. Meanwhile, we witnessed the Netflix debacle of the past few days. We have a president that believes the answer is to get money from the rich so that he can splurge on more government jobs which boils down to overhead expense. When will this end????

Sunday Report: The market averages have now gone to the top of the trading range. We watch to see if they break to the upside. The evidence shows that we are on dangerous ground again. The VIX remains high and the economic reports continue negative. President Obama is not coming through to negotiate with Congress and this will delay all help. The banks were up for a day or so but remained bland last Friday even as the averages rallied. The average lines are leaning downward as the 50 day goes below the 200 and as the 100 day average lines are now crossing below the 200 as well. I remain bearish unless a miracle occurs in Washington. I have seen no classic bottom as yet.

prior entry: SEP 10

Saturday Report: We now watch to see if whether or not the S&P closes below 1100. Either way the chart pattern is not very good. There is disagreement on Obama's plan since it still persists with more spending. The tax cuts are helpful, but it calls for a tax increase on the high income group. This will amount to a wash. I found it amusing to lookk at Biden's face as the president gave his speech. There was not even a smile. It was as if the vice-president was saying to himself, "What the hell am I doing here?" We have problems in Europe and we now have problems coming from Egypt. We dumped Mubarak which was a mistake by Obama and his liberal crap philosophies. Because of Obama's lack of support, the situation with Israel is getting worse. This should remind you of Jimmy Carter when he dumped our relationship with Iran. I will continue to suggest that you employ bear stock funds as an insurance policy such as BGZ and TZA, or others as a precaution.

prior entry: SEP 2

Closing Report: As you can see, nothing has changed from my prior opinion. Of course, we will have rallies, but we are not going into a bull market yet. It just keeps sliding downward. I am looking for Netflix to hit the 195 level. I believe Apple is still too expensive. I believe the bank stocks will be taken lower. So what is left? Will Obama create a miracle on Thursday??? He is no Reagan. Obama still wants to spend more. Okay, so he may suggest lowering payroll taxes. Even this will not be enough. The next S&P support level that is major will be 1140. That area must hold or else we will experience a very bad month. We wait.

prior entry: AUG 26

Midday Report: Nothing has really changed. The Fed said nothing new today except that things were not as good as expected and that it would keep trying. That's it! Meanwhile, Obama is working on some plan that will be revealed after Labor Day. How can the market advance in the meantime..... It is a fact that the leadership stocks are still in distribution. In other words, the major stocks have been in a selling mode over the past few weeks and it remains the same until now. Whenever this occurs, the market will not advance for real. All we are seeing are big up and down days with the market going sideways on the chart. This is not the time to buy unless a revelation should occur by President Obama. Forget the Fed.

prior entry: AUG 17

Midday Report: Although the market may seem to be oversold, the chart indicators and patterns are showing otherwise. President Obama stated that he would come up with a plan after Labor Day. This means that the market will now wander until that time. If his plan does not measure up, then the market will get weaker again. The downside targets are at the July lows of 2010 which are as follows: Dow 9700 with some support at 10000, S&P 1020 and Nasdaq 2100. When a president does a plan, he should give the plan immediately. Instead, Obama merely stated that he would come up with a plan by after Labor Day. This means that he presently has nothing definite. He was merely trying to buy some time. What will his far left team of advisors come up with over the next two weeks? Meanwhile, some of the stronger stocks have been faltering such as IBM, NFLX and GOOG.

prior entry: AUG 16

Midday Report: The indicators are not favorable for this market. Stand aside and wait for positive signs. We are going into two very bad months. The charts of the major averages have broken down into one major leg down. There may be another leg down since some of the major stocks are still lacking including the banks. If a true bottom had occurred, we would not be getting these big up and down days.

prior entry: AUG 9

Closing Report: We have a good rally off the oversold condition, but I do believe that Obama got Bernanke to make the statement concerning the idea that the Fed would keep interest rates very low until 2013. Note that the year was 2013. This struck me since the election will be in 2012. This means that the Fed will keep rates down despite any natural tendency for rates to rise in the open market. This means that it has become a communist style control by the government over market forces.

Saturday Report: Okay.....this was all to be expected. That is why the averages have been going lower below support lines. The futures will be taken down on Sunday afternoon. However, brokers will use the lower futures to panic investors into selling. Selling on Monday morning may be a mistake. The market is oversold and already discounted for much of the negative. However, the longer term remains very negative. If the American people cannot see the stupidity of the liberal mentality, then we deserve the results. It is unfortunate that so many of the innocent have to pay for the Marxists that are in power in this country. Let us hope for a rally or a decent advance next week. The alternative would not be a good option for all of us. Keep in mind that the real results of the S&P downgrade will come into play later on.

prior entry: AUG 4

Midday Report: The averages have dropped right down to another major support. This time the Dow, S&P and Nasdaq have all gone to support at the same time. The Dow to 11500. The S&P to 1220. The Nasdaq to 2600. The market should rally from here even if only on a temporary basis. We will watch to see if it comes back strong by the close. Then we will watch the overnight futures to see if this market is being supported by exchange insiders.

prior entry: AUG 3

Midday Report: S&P 1250 is a major support level. The market is oversold and should rally over the near term. The market went down this morning in order to clean out all those investors that had close stops just under S&P 1250.

Sunday Report: Sell the market on "The Deal Rally." It may take one day or several days, but get ready to sell on any rally at this point. Nothing has really changed in the physical character of the economy. The economy is going down so long as we have a socialist-marxist president and a Senate that will back up those socialist beliefs. Corporate upper management has been selling for a reason. Major CEO's have been warning of the impending danger and yet no one listens. I have often spoke of the enemy within. Well, the enemy is actually our own leader. That is as much within as you can get.

prior entry: JUL 26

Midday Report: So far, the market has held fairly well which means that it is waiting for the Washington problem to be settled. On the news of a settlement, the market should rally. If that rally occurs, it should be fairly strong, and it may become the right time to sell or assume a short position on options. For now, we will simply say that it should be watched with caution. The bank stocks are still not doing well which is a big negative. Many of the tech stocks are also not doing well. It continues to be the big stocks like Apple, IBM, etc. that are going to new highs. Note: Copytele became a buy again at the 22 to 24 cent level.

prior entry: JUL 13

Closing Report: Today's rally was initiated with overnight futures. You should know by now that such a process is usually a scam by brokerage firms to get people to buy. This rally is not good. It was then backed up by Bernanke's dumb speech. I wonder who pressured him to say that the economy was improving.....

prior entry: JUL 11

Midday Report: Obama's speech did nothing except to confirm the problems. I feel sure that some sort of compromise will be reached to keep the payments rolling out. However, that issue is already outdated. The next issue will be corporate earnings which will be hitting very soon with Alcoa today. I believe that the earnings will be in line, but I fear that there will be many "howevers" that will take this market lower over the coming two months. We still need a miracle to save this from occurring. We wait.

prior entry: JUL 8

Midday Report: The employment news is bad again and will continue. At this point, we have a negative situation on two fronts. Obama has hired a bunch of idiots as economic advisors, and the Republilcans want him to continue this way right into the elections. By September or October, it is possible that the market might realize this scenario and rally. For now, this market is no good. The banks are weak. Ford has not rallied with the recent market rally. All these things are not normal. Today, JP Morgan did a downgrade on Google. This is not good. I have already warned you about top corporate managers selling over recent weeks. I cannot understand that there are so-called intelligent people actually buying Apple at these high prices. It is like no one has learned anything from past history. So today, we saw the last launching of our shuttle. On the news, it talked of all the rocket scientists that have been terminated from NASA. This is a national disaster. We have spent money on foreign nations, cash for clunkers, etc., and now we are discading our best intelligence while continuing the idiots on the advisory payroll in the White House. You stupid Americans voted for this, and now you are screwed. Why don't you complete the disaster, and vote for Obama again.......

prior entry: JUL 7

Midday Report: Nothing has changed. Do not be fooled into thinking that the present advance is really good. If you look at any chart with average lines and stochastics and other indicators, you will see that this market is not as strong as it was when the yearly highs were last attained.

prior entry: JUN 20

Closing Report: It is not good when the Nasdaq hits a support level and cannot rally but just a few points. For the past few months, corporate insiders of the biggest firms have been selling. This sort of action is widespread. Now, it is becoming quite evident according to the charts that the major corporations are being dumped. In other words, there is more selling than buying. We have a president that does not know what to do, and we now have a Congress that prefers to let the president hang himself with all the rope possible. This can only mean that unless a miracle occurs soon this market is going to decline much more. I say this with justification. The banks have continued to slide which was the first warning signal. Now, it is the techs that are sliding. I now believe that Apple could very well decline to the 240 level. Look at the decline in RIMM! The next support on the Nasdaq is right around 2400 if 2600 is broken on a closing basis.

prior entry: JUN 16

ClosingReport: The Nasdaq did hit support at 2600. We can expect some sort of rally very soon. If a good rally does develop, then it could be a selling opportunity. This market has all summer and into September to fall even more. The economic front is real bad and getting worse.

prior entry: JUN 15

Closing Report: There is major support at S&P 1250 and Nasdaq 2600. The market should hold here or it is in danger of crashing. The market is very oversold and shorting has increased.

prior entry: JUN 1

Closing Report: The major averages came down to support at the 100 day average lines. If the averages close much lower on Thursday, then we will have a problem and be on alert for a major decline. Wednesday's decline could represent accumulation by brokerage insiders. So far, downside support has not been broken.

prior entry: MAY 28

Saturday Report: We are now coming off a secondary bottom from the 100 day average line on the S&P and Nasdaq. The next critical level to watch is S&P 1335 which means that a close above that level will mark an upside breakout. On the Nasdaq the critical level is about 2830. My comments on COPY will be on the stockholder's forum. I continue to be positive on JDSU. The banks should improve later in the year. Ford also continues to be a favorite pick for the future without high risk.

prior entry: MAY 26

Midday Report: (11:30 ET) There are times when the market will go contrary to all logic. This could be one of those times, at least for the coming few weeks. You would think that the market should be crashing, because of the horrible looking situation in the world and in politics. Nothing seems to be working well. Yet, the market is not crashing. The charts of the S&P and Nasdaq actually look positive along with price movement. This may not be the right time to short. However, the averages really should hold at this point and not break much lower. We shall watch. The Nasdaq has filled the April gap at 2750 and held. The S&P has also filled the April gap at 1310 and held. These two averages have gone to support at the 100 day average line and held. Those are the numbers. It looks positive.

prior entry: MAY 25

Closing Report: Although the market has been on dangerous ground, it has not yet broken below any major support level. The Dow and S&P have merely gone to the 100 day average line which is normal during a correction. This market may yet go up one more time. We have now gone into the second round of accumulation by brokerage houses. NOTE: COPY is doing just fine and should stay a hold. While the bank stocks remain weak, the techs are doing good including IBM and Apple. The market is now very oversold.

prior entry: MAY 25

Closing Report: The charts of the Dow, S&P and Nasdaq are looking good since that bottom on Tuesday. If all goes well without any negative surprises, this market should go higher for a while. Brokerage houses did accumulate a huge amount of stock, and these guys intend to make a profit.

prior entry: MAY 18

Midday Report: (1:30 ET) As expected, the market is bouncing off that Tuesday bottom where investors made the usual mistake of selling at the lows. Over the years, I have said this over and over again. I just find it amazing how investors and mutual fund managers never seem to learn the trick. However, I will admit that it only takes a small minority of ignorant people to sell into a bottom as brokerage houses accumulate. We now wait to see if this bounce can carry to allow broker/dealers to make some money.

prior entry: MAY 17

Closing Report: Tuesday may have been a good day to buy. The Nasdaq went right down to the 100 day average line. The market went down as investors sold out to brokerage houses and this was a positive for the market. Furthermore, the banks were strong. If it was indeed a good bottom, we should see a strong recovery into Wednesday. Wall Street brokerage houses decided to clean up stock all day long until the close.

prior entry: MAY 16

Midday Report: (1:30 ET) The Nasdaq has just broken down and the next support is now at 2780. This is important because the 2780 level represents a filling of a chart gap that occurred last month. That level also represents where the lower channel trendline would be positioned. We should watch to see if a bottom will occur on Tuesday morning. The 50 day and 100 day average lines are also getting very close and are now just under 2780. JDSU could become a buy again at around the 20 level for a short term trade. We wait.

prior entry: MAY 14

Saturday Report: The NYSE is just a little out of line with the Nasdaq. The Nasdaq has now hit a 10 year high while the S&P is still trying to hit the 2008 high. That is why the Nasdaq has been hit hard in recent declines while the S&P has held. This could mean that the major averages will eventually come into line but the S&P will have to go a little higher. The 2008 high for the Dow is 13100 and for the S&P it is about 1420. Before we see a major decline, it is very possible that insiders want the S&P to hold into the month of May. However, this market is getting into an area where we could see a significant decline over several months. Unless we crash through some major average lines soon, I would expect still another advance. I would buy for short term gains only and sell if we hit the 2008 highs or along the way. NOTE: The down target for the S&P is 1240 and the down target for the Nasdaq is about 2500.

Midday Report: (1:30 ET) The charts are actually showing evidence that the market may rally again and break to the upside. This has developed over the last few days. It may be too soon to carry short positons or sell here. While the Nasdaq did hit the 07 highs, the Dow and S&P did not. Meanwhile, the Nasdaq has gone into a small correction and this could very well mean that the Nasdaq may go to new highs while the S&P makes its final move to the 07 highs at least. Check out the 5 year chart on these averages to see what is going on.

prior entry: APR 28

Midday Report: (1:30 ET) I have noticed that the Nasdaq has now matched the 2007 high while the Dow and S&P are still below. This means that the Nasdaq will start to come under pressure. It may also serve as a warning that a major top may be forming. If you check the charts of the major averages, you should also note that the averages have gone well above the 50 day average line. The averages always seem go gyrate back to that line and this can be verified by looking at past history. Meanwhile, the economic problems are not being addressed by President Obama. If oil prices go much higher, the stock market will not be able to hold at present levels or higher. Furthermore, the bank stocks have not rallied which represents another big problem. Something is going wrong here and caution is advised unless some miracle should occur soon.

prior entry: APR 27

Closing Report: The market averages have bounced off support and have broken to the upside above prior resistance. For now, things look good. JDSU turned out to be a good buy at the 18 level and may now have some resistance at the 22 level. The bank stocks are still not doing well. Citi will have that reverse split early in May which I do consider to be negative.

prior entry: APR 18

Midday Report: (12:00 ET) The S&P has hit major support. this does not mean that it will be a standing bottom. However, it does mean that the market can now bounce off this. If it does, we will then observe the strength of any bounce. I noticed that JDSU is at a major support and could bottom at this time at the 18 level. If a bounce is going to occur, it would have to happen by Tuesday.

prior entry: APR 14

Thursday Report: (2:00 ET) The market averages have not yet hit support according to the numbers of my prior commentary. IBM will be a major quarterly report. I suspect that the market will hold or bounce off the first level of support. However, I am coming to believe that the market is getting weaker since I see no strength in the banks. It may be safer to be mostly in cash. A bounce off the first level of support may well be temporary. We will have to watch the strength of that bounce. It is very probable that brokerages are unloading stock on the public and the mutual funds. The marekt has done a good job of going this far in the face of disaster in the government. The problem now is that there is no policy in the Obama Administration. Whatever solutions that are now being proposed are all totally negative against the economy. While the Fed has not recognized the reality of inflation, oil and food prices continue to climb. Have you noticed that beer bottles are going from 12 ounces to 11.5 ounces on some brands. Okay, that is just one example of how business is reacting to the problems. There are times like these when observations begin to reveal the real problems, because the media and politiicians are trying to cover up. Caution is advised.

prior entry: APR 12

Closing Report: What can the market do at this point? The first line of support for the Dow is around 12200 and the major support is now at about 12000. SPX support is at 1300 to 1320. The Nasdaq support is at 2700. Any close below those major support lines and we have problems. So far, the present correction looks normal. Buying can be done at support or at least not sell at this time. Alcoa is not a factor considering that IBM is much more important. Ford still continues to be one of my favorites since Ford sales are heading upward. This means that downside is limited and near term upside is back to the 19 level.

prior entry: APR 7

Closing Report: The Dow did break slightly above the recent prior high, but the S&P and Nasdaq averages are still below the breakout point. The market seems to be going sideways waiting for the quarterlies next week. Alcoa will report on Monday and that may set the pace. Will the averages double top or break out next week? It may be a good idea to merely hold without new buying. It all depends on the S&P closing above that recent high. NOTE: For those of you holding COPY or looking to trade, I did give a buy at 14 cents which is where I picked it up. That comment was on the new forum.

prior entry: APR 1

Friday Report: Those of you that are on the new forum for COPY got my buy signal at 14 cents. I stated outright that there was a low coming at either 12 cents or close to it.