Friday, September 26, 2014

FRIDAY 9/26/14; BBRY; GDP;Consumer Sentiment; NKE Leads Stock Market Relief Rally

Asia markets follow the US market weakness with the major indexes down across the board. Australia is hit the worst with the SPASX200 down -1.3%. Miners are beaten and iron ore prices print



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.8% to 17.65. Copper dumps -1.7% this week so the doctor drags the broad indexes lower. The CRB recovers +0.3% this week with a dead cat bounce after the drubbing from 315 to 277, -12%, over the last 3-1/2 months. GTX prints negative on the week.

Coal stocks are burned and buried this week. President Obama set out to destroy the coal industry and has succeeded. KOL is down -5% this week. ACI collapses -21%. BTU -9%. WLT -30%. The coal industry economically supports rural areas in states such as Pennsylvania, Ohio and Kentucky but these families are now scrambling to find a way to make ends meet as they watch the rich become filthy rich off the Fed’s monetary policies.

The Chicago airports remain closed with well over 1500 flights cancelled today and the downtime expected to continue for several days. The FAA radar facility was set on fire deliberately by a worker that was told he was being transferred. Bitcoin officials meet with US Special Ops to address concerns over money-laundering and the movement of illegal goods using the virtual currency platform.

A worker at Vaughn foods in Moore, Oklahoma, USA, that recently converted to Islam beheads a female co-worker while shouting Islamic prayers. Luckily, the COO at the facility had a gun and shot the nutcase before he could behead a second woman. Domestic terrorism is increasing in America. The Islamic community needs to speak up and condemn the sick act but instead there is silence. An uneasiness increases in America due to the recent threat of terrorism targeting the New York City and other major city subway systems as well as Muslims unwilling to denounce the actions of violent Islamic radicals such as ISIS.

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