Afternoon Delight 12/15/11 - Indefinite Internment

The markets are a huge issue right now, but there is a far more important development we need to focus on. As for the markets, the EU summit and the FOMC meeting both came and went without any form of resolution to the crisis in the EU nor with more easing from the Fed. That leaves a gaping hole in the markets defenses for the bears to exploit. STB has been looking for a move to 1040 to come in order for the central planners to have the support (fear/desperation) to be able to deliver more stimulus.

I was very pleased to see Citi Near Term Stock Forecast: 9300 In The DJIA; 985 In The S&P; Sees Chart Analogs To Pre-World War Periods | ZeroHedge confirming a lot of what I have been calling for over the past 6 months. More recently I have been allowing the central planners to halt the current slide because of opex Friday and Christmas on the way, but after the 24th "all bets are off". My 1218 backtest call halted the upward movement this morning nicely. Was that it for the upside here? More than likely I think so, but we still have to get thru next week and 1200 round level support below.

After hours the RIMM disappointment and this announcement - Fitch Downgrades 8 Global Banks Including BNP, SocGen, BofA, Deutsche, And Morgan Stanley have not budged the futures. I guess big tech and banks no longer matter to the markets.

Today Is Constitution Day

September 17 is Constitution Day. On this day in 1787, the Constitution was signed by the delegates to the Constitutional Convention. Celebrate by reading your Constitution today. You need to understand the constitution and the RIGHTS it gives you as a citizen. These rights are slowly being stripped away piece by piece. The Constitution and your rights need to be protected now more than ever.

You can read it here

This is a great link to learn more interesting things about your constitution.

Independence Day - Stuff You Should (or should not) Know

At this time I will refrain from totally bashing our government (I had initially planned on a larger scathing post ripping to shreds what they are doing to destroy our great country) out of respect for our founding fathers, fellow citizens, vets and the many others that made this country great. The post will eventually come as the thrashing our individual independence is taking is truly sad. Let's keep this upbeat and enjoy this holiday, for sadly it may be written out of our history books one day.

History Channel - The History of July 4th

HC - 4th of July did you know trivia? " In 2007, $4.7 million was the dollar value of U.S. imports of American flags. The vast majority of this amount ($4.3 million) was for U.S. flags made in China." WTF? We can't even make out own flag cheaper than they can. New law? All US flags MUST be manufactured in the US of A. That will create maybe 1,00 jobs. HA! I'm already doing better than the O.

HC - Text of the Declaration of Independence Read it! "When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the Powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation."

Fact Monster - History of July 4 Celebrations

"The Declaration of Independence is a justification of the American Revolution, citing grievances against King George III. It is also a landmark philosophical statement, drawing on the writings of philosophers John Locke and Jean Jacques Rousseau. It affirms that since all people are creatures of God, or nature, they have certain natural rights, or liberties, that cannot be violated."

Fact Monster - American Revolution "American Revolution, 1775–83, struggle by which the Thirteen Colonies on the Atlantic seaboard of North America won independence from Great Britain and became the United States. It is also called the American War of Independence."

Does this sound like something we may have to do against our OWN government someday? I surely hope not, but am not leaving out the possibility. There are some groups that are seriously discussing cessation from the USA. Yes, the topic is ACTUALLY BEING DISCUSSED. We have come that far.

Be safe, enjoy your 4th, teach a kid about the Constitution and the great history and sacrifices behind this historic day. If the kids don't learn the truth from you, will they learn the truth?

Happy 4th,

Shanky