Stock Market - March 2011

[sidewinder]

this is as good of an assessment of the middle east of today as I have seen.  At least it gives you some scenarios to consider.

http://www.stratfor.com/weekly/20110307-bahrain-and-battle-between-iran-and-saudi-arabia

[MetalMeister]

SW,

I hold that assessment you made regarding the military.  The Department of Defense is the dog wagging the tail (the U.S. government and all its citizens - IMHO).

I think we know, for sure, that a lot of Federal budget money goes to places other than intended into defense and security, one way or another and none (taxpayers) are the wiser.  And the remainder of the money they need they get from places like CIA drug sales and probably secret companies that play Wall Street and rake billions into the DOD coffers!

That's just my theory...   

[sidewinder]

We will see one big assed gap down this AM on the open.  Let's see what effect this will have on stops and what will get taken out.   Panic is always interesting to watch unfold. 

Based on my observations from the wave 1 in 1932 I get serious support at 1210 on the SPX.  from the 2002 wave 1 on the S&P futs we are going to open at another big support area at 1259.  We shall see.

I've been short for a couple days and just pull off 2/3 of the contracts to lock in profits. 

[onlooker]

It appears that events in Middle East and Japan is a one two combination, which theoretically should result in oil and agriculture stocks going nowhere but up, within a couple of months.

~     ~     ~

For me, I am looking to see if the mightily American powers to-be still have enough financial dominance in the markets to turn around the current slide in  the global markets.   Could be the current slide in the markets are just adjustments, not upcoming market waterfalls.   

[onlooker]

The Japanese stock market is making a miraculous quick recovery!  This should come as no surprise to investors, given all the past reported manipulations (propping up, and suppressing down) done to the markets.

See:

Japan stocks rebound but Europe weak as oil rises
By REUTERS, , Updated: March 16, 2011 7:25 AM

"We wouldn't talk about a recovery in dollar/yen yet," said Lutz Karpowitz, FX strategist at Commerzbank in Frankfurt. "(But) we don't expect a drop under 80.00 yen because we expect the authorities to step into the market under that level."

http://money.ca.msn.com/investing/news/breaking-news/article.aspx?cp-documentid=27723557

[onlooker]

Oil price soars on fears of Libya air-strikes Mar 18 2011

Fierce fighting in Libya has damaged oil operations and cut most of the Opec nation's 1.6 million barrels a day of crude output.

Energy price specialists Cameron Hanover said in a report: "The intensity of fighting and the targeting of oil facilities and installations has been a shock (really?  ) to many observers. This decision by the UN would seem to extend the fighting for a period of time."

http://www.dailyrecord.co.uk/news/business-news/2011/03/18/oil-price-soars-on-fears-of-libya-air-strikes-86908-22997965/

Targeting oil facilities.  Humm?  Isn’t this a “haven’t I seen that before?” military, political, and financial maneuver?

I think it's a safe bet that oil stocks will do well this summer.