Nov 3, 2008 - Issue #135
Socialism??? To be or not to be???
The United States is, in my judgement, at the most critical political juncture not seen
since the convening of the Continental Convention of 1787 in Philadelphia at the nations
Benjamin Franklin, upon exiting Convention Hall, was asked, "What kind of government have
you given us?" His reply, "We have given you a Republic, if you can hold on to it."
At stake is whether the nation remains a bastion of free enterprise or embraces socialism.
I fear for this country. I pray that my fears are unfounded. The market will, undoubtedly,
reflect the outcome at Wednesday's opening.
Should my worst fears be realized, I predict that, upon realizing the monumental deceit
and lies heaped upon them, the voters will rise up at the first opportunity (2010) and
eject the perpetrators as they did two years into the Clinton administration. By then, how
much damage will have been done?
During the next two weeks, the following Dow components report earnings. Keep a sharp eye
out for possible price swings leading up to 'earnings day' (Subject to revision):
11/4 EXPD (Transportations) (Election Day - US).
11/5 GM. (Expectation: McCain win = strong up move. Obama win = downward continuation).
Dow score card for the week ending 10/31/08.
DJ-30: 9325.01 +946.06 +11.29%. The Real World (arithmetical) DJ-30: 39.04 +3.97 +11.32%.
UP: 29, Down: 1.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 3 (+3) 10%:
+*HD, +*MMM, +*VZ.
Consolidating (Generally Lower Highs/Higher Lows) 27 (+6) 90%:
+*AA, AXP, BA, BAC, +*C, +*CAT, CVX, +*DD, DIS, +*GE, GM, +*HPQ, +*IBM, +*INTC, JNJ,
+*JPM, KFT, KO, MCD, MRK, MSFT, PFE, PG, T, UTX, WMT, XOM.
Declining (Generally Lower Highs/Lower Lows) 0 (-9) 0%:
+/- denotes change of direction.
* denotes change of category.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!