Alaska has plenty of oil, enough to supply the United States for 200 yrs

July, 1980
Author Lindsey Williams who had executive status with the 9 major oil companies on the Trans-Alaska oil pipeline has written a book stating the facts listing names, dates, and places says: http://www.survivalcenter.com/lw.html

As a former Insider I know Alaska has plenty of oil, enough to supply the United States for 200 years. Lindsey Williams say the world is no where near -
running out of oil.... http://www.youtube.com/watch?v=NbakN7SLdbk

Soros, CME exec to testify on energy manipulation ~ Legendary hedge fund manager George Soros and a top executive at the Chicago Mercantile Exchange are slated to testify next week on manipulation in the energy markets, a Senate panel said Friday, as Washington widens its probe of what's driving record-high oil prices.

Gasoline price went down during Iraq-Iran war for 8 years when Iraq attacked Iran. Since US attacked Iraq, Oil goes up, hence, it is like US is doing a favor for Iran... No wonder there is mouse-cheese chase going on with Iran.
http://en.wikipedia.org/wiki/Iran-Iraq_War

• Commodity bubble Testimony of Michael W. Masters before the Committee on Homeland Security and Governmental Affairs Commodity price is manipulated by speculators ( Index Speculator Demand Is Driving Prices Higher ).

Need to develop effective & efficient technology to extract oil.

• Utah borders Colorado and Wyoming holds about 800 billion barrels. That's three times the size of Saudi Arabia's oil reserves.

Paulson Says End to Market Turmoil Will Take `Months'

Reality Check

"Deliver US from evil greed"... ST/IT economic manipulation can blind the reality as we can see that majority of Americans are in huge debt after spending home equity/ARM crisis and after 1999-2000 bubble burst.

Instead of implementing cure policy, we are having sugar-coated medications to very sick economy. The mentality is that financially good for many is bad for big capitalists who are taking wealth away. We need to see fair economic policies.
Mountain of consumers' debt
The Fed comments on inflation

Kudlow - insatiable greed monsters on the Fed Mishkin resignation

The current ARM crisis effect was conspired during Clinton era with bigger bubble which is a prelude of ARM bubble, aka Internet/Tech bubble. Using "Bubble-Crash" is a way to rip US off.

Derivative Bubble - Ticking bubble bomb

Yale’s Shiller: U.S. Housing Slump May Exceed Great Depression

Market COT & Margin

COT shows traders risk adverse which is confirmed by margin account activities.
Margin account activities also show traders risk adverse positions as cash level is higher than margin level which is the first time since Oct 2002 low. Conversely, markets are hyping by supporting at critical supports such as we have see on 5/23/2008 LOD to lure in the cash positions; however, COT low commitment is on going for several weeks as we can see on COT that large speculators are on short-side except DOW.

$BKX below $75 support

http://trend-signals.blogspot.com/2008/05/bkx-arm-crisis.html

Swiss bankers corruption

More than 50 bankers involved ~ The move follows the recent indictment of one of the unit's former senior executives, Bradley Birkenfeld, who US authorities have accused of helping a billionaire client evade taxes. Birkenfeld has pleaded not guilty.

$BKX & Housing/ARM crisis

Repeal of Glass-Steagall Act
the wall street fix: mr. weill goes to washington: the long demise of glass-steagall | PBS
Not much ethics reflected on here. $BKX - Near 75 S. Colluded swindle of naive public fallen into greed deception traps. Many are serving and worshiping "money god". Falling into the deception, many have spent home equity which was the main driver of economic and market rebound from Oct 2002 low. Now, US consumers are with a mountain of personal and national debt.

• The MBA's seasonally adjusted index of rate-sensitive refinancing applications fell 8.9 percent to 2,013.5 last week. The gauge of loan requests for home purchases was little changed at 352.7 compared with 352.5 in the previous week.

• Ross: Housing Issues Scarier Than High Oil Prices "Economists allow for the sort of 'wealth effect,' or 'poverty effect,' that's probably something like 5 percent that gets reflected in consumer spending," Ross said. "If it is, that's $180 billion, or more than 1 percent of our gross domestic product."

~~~ US Debt bubble reality: Choas ~~~American taxpayers are on the hook for a record $US 57.3 TRILLION in federal liabilities to cover the lifetime benefits of everyone eligible for Medicare, Social Security and other government programs. That's $US 500,000 per household. When the liabilities of State and local governments are added to this, the total rises to $US 61.7 TRILLION. That's $US 531,472 per household, more than four times what Americans owe in personal debt and mortgages. This is now front page news on USA Today.

Market price hype in light volume

Markets bounced off from ST supports today with oversold intradays with positive divergences. Also, it is the End-of-month market manipulation to get market prices high as possible to show good portfolio level. However, we had extremely negative economic news today with multi-decaded low consumer sentiment and Shiller's home price index.

Because markets are continuing to hype markets, we are facing multi-decades of bubbles and a mountain of US Debt. Through bubbles and crashes, only a privy, colluded financial group is getting super-rich.

Markets traded in very light volumes showing higher risk even though price actions are marked up with EOM manipulation with big cap stocks.




Markets bounced off from supports in light volumes today with hype:
Investors who spent the past nine months avoiding the skidding US stock market and economy by snapping up multinational companies are now coming back home. Hyping about oil pulling back 2.6% today.

Oil price was low in 2002 and with ARM housing manipulation, economy bounced up, i.e. US consumers emptied their wallets with home equity spending.

Now we have many US consumer skeleton spending power, but it is obvious that markets are hyping up for the election year with deceiving bull market.

SPX & Cycles

http://trend-signals.blogspot.com/2008/05/hyperinflation-dow-us-debt.html

6/6/08 +/- is a pivotal turn date. We have important cycle turn date near 6/6/08 +/- which will show a directional confirmation.

Because it is a pivotal, important turn date, I would not jump into a haste market projection; nevertheless, I think that it is important to determine overall market direction to guide technical signals. Breaking out the recent high is technically bullish which is not justifiable at this time, in my view.

SPX and VIX are showing symmetrical and inverse price actions.
We have important cycle turn date near 6/6/08 +/- which will show a directional confirmation.

We are in receding 8 - 8.6 global cycle which started in Oct 2002 within VLT cycle which is "winter" season of Kondratieff long wave cycle. This is evident after having ARM crisis and still having derivative bubble in addition to US debt.

While traders turned bullish with the recent up-price swing since 3/17/2008 anticipating the normal Presidential election bullish cycle which we have seen in Aug 2008 rallying into EOY, I do not think that we will see the same 2004 scenario in 2008.

Commodity bubble

Commodity bubble Testimony of Michael W. Masters before the Committee on Homeland Security and Governmental Affairs Commodity price is manipulated by speculators ( Index Speculator Demand Is Driving Prices Higher ).



This is my view in agreement with Masters' as I commented during the last few years, i.e. price is manipulated by speculators (Index Speculator Demand Is Driving Prices Higher ).

You have asked the question “Are Institutional Investors contributing to food and energy
price inflation?” And my unequivocal answer is “YES.”

Buffett: Long, Deep US Recession & Europ is not safe: Soros

The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

Europe~~ >"Soros: Europe Is Not Safe


Buffet re: Banks to blame for sub-prime crisis says Buffett
Comment on the recent trip: European tour including Switzerland, Germany, Italy and Spain on the look out for new investments.
~~~

The repeal of the Glass-Steagall

The repeal of the Glass-Steagall act is the source of the ARM crisis and derivative bubble.

Hyperinflation, Dow, & US debt

DOW & US debt with hyperinflation

Previously I commented on the LT cycles and phi dates and turned bearish when markets are showing continued hyperinflation signs in addition to the derivative bubble after ARM crisis/R.E. bear market. In addition, we have geopolitical uncertainty and presidential election uncertainty including conspiracy theories.

As noted before, 2008 is not likely a bullish presidential election cycle as in 2004 after the "Aug 2004" bottom or as in 2006 after"Jul-Jul 2006" low rallying to EOY. Before oil hyperventilating price projections, the Jan-Mar 2008 low was potentially the low for the year, but I do not think that it is the case even if we have normally, in average, the presidential election year bullish cycle.

BKX is testing 2002 low even though TRAN is testing Jul 2007 high. The TRAN retest of the high is the same formation of the 1998-1999 double top formation.

I think that markets will follow BKX formation heading near to SPX 900 and DOW 9000 as I think that we are not ready to launch new bull market. (2b cont'd)

Nevertheless, markets are increasingly becoming volatile with manipulation; therefore, need to remain flexible.

The Oct 2007 reversal is the "Golden Phi" divine number reversal.

DOW 10/9/2007 high 10/10/2007 reversal
SPX 10/9/2007 high 10/11/2007 reversal
QQQQ 10/31/2007 high 11/1/2007 reversal


MI III (rabbit's foot = anti-God)/Kingdom of the Crystall skull
Many traders/investors are now informed of various conspiracy theories. Some of those theories are likely true as I think that the world finance is operated by greed, but also by divine providence. Islam is the fastest growing faith at the same time, oil is going up. (2b cont'd)

Icahn Says Obama Would Be `Terrible' U.S. President

May 22 (Bloomberg) -- Billionaire investor Carl Icahn said Barack Obama would be a ``terrible'' U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.

``I don't normally get involved in politics, but this time I am,'' Icahn told an investors conference in New York last night. ``I don't think Obama really understands economics.''

~~> http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29372714
I would not point out what it is, but I heard one of his points, on video, which I strongly disagree with, #1.

US made China & Russia rich, now ....

China and Russia sign nuclear cooperation deal, condemn US missile defense plan
5/23/2008 9:45 AM ET Friday, China and Russia signed a 1 billion dollar nuclear cooperation deal and issued a joint statement condemning the proposed U.S. missile defense shield along Eastern European border during Russian President Dmitry Medvedev's visit to China.

~~> US made China & Russia rich, now they turn against US.

Paulson defends Oil price

http://www.cnbc.com/id/24781020/
"The long-term strength [of the U.S. economy] is going to be reflected in the value of our currency," he said. "Our policy has got to be a policy that's going to increase confidence in the U.S. economy. Right now we're in a tough patch." ~~> $USD value was going down for years

Greenspan + Paulson era of US debt bubble link

Market Update

SPX corrective wave 1 of 5 of "C" from Oct 2007.
"B" abc (Mar-May) of "ABC" corrective wave.
Markets are dreaming of Aug 2004 or Jun-Jul 2006 bottom and rally to EOY, but this is not 2004 or 2006. Oil hyperventilating over 100+ and now 130 + is squeezing out consumers.

The Oct 2007 reversal is the "Golden Phi" divine number reversal.

DOW 10/9/2007 high 10/10/2007 reversal
SPX 10/9/2007 high 10/11/2007 reversal
QQQQ 10/31/2007 high 11/1/2007 reversal



Market update ~ Consolidation day

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=27084542

Intradays are still O/S at pivotal supports.

Bill Gross on Commodity
After his analysis on high inflation, he is recommending to buy commodity based assets, i.e. another bandwagon rider.

Home Prices Post Record Declines In First Quarter - Retail * US * News * Story - CNBC.com

Home Prices Post Record Declines In First Quarter - Retail * US * News * Story - CNBC.com: "U.S. home prices posted their sharpest first-quarter decline since the government began tracking the data 17 years ago."



The repeal of the Glass-Steagall act in 1999 was a disaster which was the prelude of the ARM crisis which was designed from the repeal.

Inflation and rate has less correlation because of price manipulation than before.

Mega rich can get both ways, i.e. bang up prices and rate with excuses of the former.

It is a matter of how greed mega rich wants to get with price manipulation moving colluded trillions around the world especially in US market since the financial size is bigger.

Energy Watchdog Warns Of Oil-Production Crunch - WSJ.com

Energy Watchdog Warns Of Oil-Production Crunch - WSJ.com

The world's premier energy monitor is preparing a sharp downward revision of its oil-supply forecast, a shift that reflects deepening pessimism over whether oil companies can keep abreast of booming demand.

USD

~ $USD 72.40 S

bowl of wrath after corporate corruptions.

Qs

60m intraday uptrend is still holding up. Qs LOD 48.89 is a D/W support. SPX LOD 1409 is also daily TL support. DOW 12781 ma S. No confirmation of a meaning pull back yet even with oil 129.

IWM retraced 50%. Big caps were holding up markets since 2006.
This is not a new bull market. Market momentum is again weakening after Mar 17 reversal with the double bottom formation. Daily price actions show price/breadth negative divergences. The rising oil price is another nail to bulls after the ARM melt-down.

Big megaphones on weekly: Many have forgotten about the big megaphones which were popular subjects before Oct 2007 top. The big megaphone formation on weekly is still a visible and viable outcome. Again, rising oil price is another nail on bulls.

AAPL iPod smoker 200 LT R

AAPL - the big iPod smoker pig.
200 LT r


disgusting
http://www.ces.purdue.edu/pork/images/forsyth/big_pig.jpg

Oil peek-a-boo

Oil is 53% up in a few months: 85 ~> 129

$TRAN breakout target met

$TRAN traded to 5535, the breakout on 3/19 target met today.

IWM, QQQQ & SPY

Markets formed a bunch of "C&H" and those are not bowls of blessings considering all factors. Paulson, Greenspan, and Bernanke assure us that economy is doing fine, but facts are not. Qs traded near to 7/19/07 R 50.47 before it pulled back.

US debt bubbles

YHOO

SPX LT market comments

Markets traded to targets, SPX 1400 +/- and Qs 48 +/-.

http://trend-signals.blogspot.com/2008/04/qs-spx-dow-nasdaq-met-1st-targets.html

With FOMC meeting during next week, major markets traded to targets area, e.g. Qs 48 +/-. Qs near daily DTL after tagging 47.79 with 48 +/-R, DOW 12891.86 with 13000 R, Nasdaq 2422.93 with daily DTL at 2450 +/-.

Since the double bottom, as noted on 3/17 and 3/18, after testing LT supports, as shown on the weekly charts markets traded to weekly resistances after breaking out of the falling wedges noted since 3/19/08. Falling wedge formation is a bullish pattern. Since the 3/17/08 double bottom at SPX 1256, DOW 11756, Nas 2155, and Qs 41, markets have rallied 11%, 10%, 14%, and 17% respectively from the lows. I noted the double bottom in Jan-Mar 2008 likely to be the low for 2008 with the target of SPX 1650 as commented on 1/25/08.

I expect a pull back after the Fed announcement from the current resistances as we are at ST cycle pivot going into next cycle pivot in Jun. I am anticipating SPX 1330 +/-, Wave 2, will hold closing gaps which we have and that will set up Jun rally going into EOY. This is the "Wave 4" scenario from the Oct 2007 top. During Dec 2007, I explained technical and fundamental readings going into Jan-Mar 2008 double bottom as a meaningful correction from the Oct 2007 top.

While markets have not broken out of the IT down TL above 1400 +/-, I believe that markets will break above it going into EOY to SPX 1600 +/-.

PFE

PFE 20 +/- support, break 21 targets to 22/24.50 +/-

DIA mirror image