FRIDAY 11/21/14; ECB Promises More Stimulus; PBOC Cuts Interest Rates; Central Bankers Create Global Market Melt-Up; OpEx; SPX, INDU, TRAN and AAPL All-Time Highs; COMPQ New 14-1/2 Year High

Japan PM Abe paves the way for the snap elections by dissolving parliament’s lower house. Abe expects the election to provide a continuing mandate for Abenomics. The dollar/yen remains under 118. NIKK +0.3%. SPASX200 loses -0.2%. SSEC is up +1.4% the big winner in the Asian session although the interest for Chinese stocks has dropped off after the Stock Connect euphoria earlier in the week. HSI +0.4%. KOSPI +0.4%.

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The FBI sends 100 agents to Ferguson, Missouri, ground zero of the race riots. The National guard is on standby. The grand jury decision is likely to be released on the weekend or very soon and authorities are expecting violence. The decision on whether or not to indict the police officer that shot the teenager may be released early Sunday morning since that would create the least amount of turmoil. Many people are liquored-up on Saturday night and not in a riot mood come early Sunday morning. If the news is released early Sunday, authorities can use the day time Sunday to keep folks calm. Two men are arrested in a bomb plot in Ferguson.

President Obama announces plans to extend the US combat role in Afghanistan longer than expected. The president no doubt learned from his mistake in Iraq where he pulled all troops out creating a vacuum that created the ongoing ISIS problem. The president has conducted a war in Libya as well as current Operation Inherent Resolve in Iraq and Syria and now plans to extend the military operation in Afghanistan. President Bush created the Middle East mess going into Iraq under the guise of WMD (weapons of mass destruction) that turned out to not exist. President Obama exacerbates the problem by removing troops to fast. The Middle East is in chaos.

The IRS scandal flares up after 30K missing emails are recovered from Lois Lerner’s account. It is unknown as yet if the emails are damaging to the Lerner or the Whitehouse or if the documents are heavily redacted. Lerner refuses to talk invoking her Fifth Amendment rights. She is at the center of the controversy where conservative, Tea Party and other groups and individuals, that had different views than President Obama, were targeted, audited and harassed by the IRS before the 2012 presidential election. The nefarious behavior at the IRS rigged the election in the president’s favor and investigations are continuing to determine if Lerner was directed by the president or Whitehouse staff.