TUESDAY 3/10/15; China Inflation Data; BKS; US Stocks Collapse; Wholesale Trade; FCEL; PAY

Asian indexes begin on an upbeat note after the positive US rally but the session turns sour with screens turning red across the board. The SPASX200 ekes out a tiny gain. Basic resources stocks are smacked. The Aussie dollar drops to 0.7650 on weak China data. The NIKK loses -0.7%.

The SSEC drops -0.5% and the HSI is down -0.9%. China’s inflation data is a mixed bag perhaps the officials are having trouble maintaining the fudged numbers. China CPI is up +1.4% exceeding the +0.9% expectations but the PPI wholesale prices are down -4.8% missing the -4.3% expectations and under the prior month’s -4.3%. KOSPI loses -0.4%. Asiana Airlines nosedives -6.1%.

European indexes begin the session trading lower. Weak oil prices send oil, gas and energy stocks lower creating a drag on stocks. GS says oil prices will fall to the 40’s in the near term creating negativity in the oil patch. Tullow Oil loses -4%. In addition, Italy is seeking help from the European Commission to remove bad paper from its books and the ongoing Greek bailout drama also creates a negative vibe. Credit Suisse replaces CEO Brady Dugan with Tidjane Thiam. CS pops +8%. C is placing its eggs in the European basket saying euro zone stocks will surge +70% by the end of next year fueled by the ECB QE easy money.

Turmoil in Greece continues. Greece will run out of money this month and needs a bridge loan to stay afloat into late summer under the ECB four-month lifeline. European leaders are telling Greece to stop wasting time over implementing reforms. Europgroup President Jeroen Dijsselbloem says the talk has gone on long enough and Greece must resolve its troubled financial situation. Greek FM Yanis Varoufakis calls the troika (ECB, EU and IMF) a “cabal” and the arguments continue. The troika will not bailout Greece unless 










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 roll back the proposed ammo ban on the M855 bullet used in AR-style rifles, however, the cat is out of the bag. The drama proves that the government, especially the current Administration, cannot be trusted in relation to gun and ammunition rights as provided by the Constitution so smart gun owners will continue to buy and hoard ammunition to the greatest extent possible.

Savvy gun enthusiasts are intelligent to buy at least one box or more of ammo per month to make sure their firearms are never rendered useless. It is only a matter of time before new proposals occur to limit ammunition. Sporting goods stores and other retailers continue to display empty shelves with ammunition remaining in extremely short supply while Federal, state and local authorities are buying guns and ammunition with taxpayer money at an alarming rate militarizing all departments of government.

SPX 2044. Dow 17663. Nasdaq 4860. DAX 11500. CAC 4882. FTSE 6703.

Euro 1.0692. Dollar/yen 121.07. Pound 1.5066. WTIC oil 48.72. Brent oil 56.42. Natty gas 2.73. Gold 1161. Silver 15.615. Copper 2.616.

US Treasury yields are; 2-year 0.68%, 5-year 1.602%, 10-year 2.12%, 30-year  2.71%. German bund 0.226%. Japan 10-year yield 0.467%.