Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for the last day of the month and quarter, Monday the 30th of September.
It's hard to know where to begin, so let's begin at the beginning. I think we should throw all the Republicans and Democrats out of office - they are absolutely not helping America move forward and get back on its feet again.
What is happening now in Washington is a childish squabble between two completely different ideologies without any grown ups in the room.
I believe that both parties have lost sight of the big picture, and that's making America strong economically. That means creating jobs, putting people back to work and to live within our means. If we can't afford it, we can't afford it - end of story.
These simple concepts seem to be beyond the grasp of the two parties and the last thing on either parties mind. It's all about, whats in it for me, and I want to keep my position of power and job come h@ll or high water.
That narrow minded attitude does not reflect well on America,the economy and the stock market in general. There are no winners in this stupid schoolyard game of mines bigger than yours, as both parties in the eyes of the general public are going to lose big.
Leave a comment below and give us your take on Washington and the current stalemate.
On a brighter note, Apple (NASDAQ:AAPL) just became the number one brand in the world according Interbrand's annual Global Brands report. Apple displaced perennial number one Coca-Cola after a 13 year run on top. We say it's about time, congratulations Apple.
On a personal note, I still have not been able to buy an Apple gold iPhone 5S phone. According to the local Apple Store here and Annapolis, there is a line every morning outside the store waiting for the overnight supply of new iPhones to come in. That is how good and how strong the cult of Apple is, everybody wants a new iPhone. No, let me rephrase that everybody wants a gold iPhone 5 S.
Apple could just on those facts alone move higher when it's finished it's consolidation phase. Maybe by that time I will have a gold iPhone 5s in my hand:-)
I'll be looking at Apple today and how I believe it is consolidating to go higher.
Unlike the gold iPhone 5S, gold has to be disappointing to the bulls with all this financial chaos in Washington. In fact as I am writing this gold is down for the day. We still believe this market is in the beginning phase of consolidating to move higher later this year or early next year. We will of course be waiting for our Trade Triangles to signal that move
FaceBOOK (NASDAQ:FB) along with Netflix (NASDAQ:NFLX) and Tesla (NASDAQ:TSLA) have all had a nice run-up and we will be analyzing those stocks in today's report.
If you would like to leave a comment or ask a question on any of the stocks mentioned in today's report we would love to hear your take on things.
Have a great day.
Carpe diem
Adam Hewison
President, INO.com
Co-Creator, MarketClub
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.
What's being forgotten in the all-too-convenient fixating on Obamacare is that the Tea Party Republicans want a lot more than just the delay in implenting the ACA. What they're basically demanding is that the Obama Administration implement the policy proposals of Mitt Romney, who lost the previous presidential election, which is just nuts beyond belief.
http://talkingpointsmemo.com/dc/gop-s-dangerous-debt-limit-demand-a-christmas-tree-of-conservative-goodies
Luckily we have somebody who has the guts yo tell the truth. Obamacare should go with its creator.
That's right, kick a bunch of rhetorical dust into the air to obscure the issue that Tea Party Republicans have a laundry list of demands that amount to demanding the other party implement a full Tea Party agenda. That anybody thinks this amounts to being reasonable by any stretch of the imagination, only goes to show the degree of damage done to the public discourse by Faux News and reactionary hate-radio.
People, stop the name calling and playing into the divide-and-conquer game. The endless regurgitation of talking points and reiteration of the sandbox politics from Washington, will not help we-the-people come together and unite. As long as the citizenry is split apart, we are weak and cannot be efficaceous in our desire to strengthen our homeland.
Obamacare will destroy our economy, everyone wants to be exempt, but only a few cherry picked people receive this privilege. All people were created equal.
God Bless America!!!
Melba Standley
Tea Party + Right Wing Radio + FOX TV + Pure hate from a small group of whites " who can not digest the reality that a BLACK MAN sitting in THE WHITE HOUSE " is the perfect storm for dysfunction in Washington D.C...
Did you ever see Govt shut down during Reagan and Bush era when Democrats had majority... small group of rightwing nuts are hijacking the country... that is reality in today's Right wing world..
Exactly right Pat you can't tell me if we had a white president we would be here. It is sad in this day we live like this, get over it.You can see it everyday or your blind, I am white but I'm not stupid this world has color and white is just one of them.
I cannot understand how the President can get away with his total lack of leadership. To say he will not negotiate or compromise with the very people he has to negotiate with is nothing short of stupid. Then to ad name calling is no way to bring people into a negotiation. But, the Republicans were stupid in offering to delay the mandate for one year. That would have given the ACA time to sign up people on a test basis and debug the system. I don't understand why Reed and the Senate did not jump on the opportunity that was laid before them. There are going to be so many problems with implementing the ACA that delay of the mandate while going ahead with voluntary signups would have been the same as Beta testing the system. The compromise the Republicans passed was really the best option the Democrats had for an trouble limited start-up of the ACA. My view is that the Democrats, Senate and the President have got to eat the blame for the effects of the shut-down 100%. But as far as dealing with their positions stupidity prevailed in both parties.
I think this is going the way he wants it to go. He is working to destroy AMERICA AS WE KNOW IT.
GOD BLESS AMERICA !!
AMERICA MUST UNITE AS A PEOPLE TO BE HEARD BECAUSE OF THE SLACK GIVE AWAY WELFARE PROGRAMS.
Maybe that corp slug Norquist will get his way........."Government small enough to drown in a bathtub" Meanwhile, small investers (not traders) will continue to be screwed along with those in society that need assistance. I bet we will still fund the checks to the private prisons that are mandated 34000 filled beds a day!http://mobile.bloomberg.com/news/2013-09-24/congress-fuels-private-jails-detaining-34-000-immigrants.html. Of course, invest in it, it works right!?
I can't see any reasons, why Congress won't find an agreement to finance government. Obama and his administration is on track, and arguments of Republicans /tea party are ommiting arguments of benefits to American health system.
Budget plannings are in the range, what is acceptable for America, and FED is still supporting the economy.
Finding a common decision is not out of the world.
At least they will find a solution for their budget. Supporting government with needed funds is duty to all Congress members.
They can fix budget details also later on, but a shutdown of government is not a matter, which supports America. Government need to be capable of acting.
I'll bet the people in Weimar Germany were glad they didn't have a government shutdown. Until the hyperinflation kicked in. There are things worse than a shutdown.
Hyperinflation didn't kicked in by accident. It was a self-made, and planed program, with no mercy on the ppl living in the country. German Government decided that paydown of depts by inducing hyperinflation is the best way to fullfill the demands of the allies, paying reparation to the former war contrahents. That "government condition" was a kind of situation like a war, indeed a condition post WW I and pre-WW II. You can't compare that with the situation now. America has a vison, has a stable political system, and despite political arguments between parties, is able to make desicions. FED can control money system today more easiliy with all the experiences from past and modern methods.
The Weimar government condition was induced by war. In addition, democracy was not on stable feets. Many parties in parliament, each of them with their own opionion, 20 parties, 20 opinions. No one cared much on a stable political system, decison finding was hard or even impossible. And thus no one cared on the money system. Ppl had no trust and lost trust in government and their money.
But in America what have you today: only two parties, two opionions, but not completely different in all. Congress is still able to talk and debate problems and financing. Willing to find desicions, even if they might be unpopular to taxpayers. Obamacare is not working against taxpayers, and their hope is, that it helps reducing the costs in medical system on the long run.
The dollar is still a currency accepted all over the world. Ppl still trust on their government and their money (look at your notes. " In God We Trust"). Having trust in those systems means stability, the $ is still accepted by ppl as means of payment. As long you trust in that, money has a value, and can be a matter to influence as system, used as a matter for financing systems and programs.
Republicans should not work against what was common agreement in society, that Obamacare is a program needed to be implemented to improve health system.
If Republicans do not agree to finance government, despite their general common agreement to Obamacare, they do not trust in their own government. Do they have any reasons, not to trust Obama? He has a different opinion, and he argues in a different way. But he is not working against American people. Do Republicans still trust in their money? I guess they do. The only way why they do oppose against his policy now, is that they do it just to have a different opionion. The work that must be done, will be done, even it is done by Obama, who is in power now (and once again). Agreeing to a budget to finance American government is not an impossible task.
We Put these politicians in office and they should be accountable for their actions. They were put in office to do a job and obviously they are not doing their jobs, they are to busy ruining America and our economy. We have been through enough without having to put up with their pettiness. In my opinion for everyday
our Govt. is shut down , none of them should get paid, or receive any type of benefits. Period. If you or I didn't do our jobs where would we be, well you know the answer to that question. There should be a way "We the People" could take back our country and get rid of them all. They are quick to spend our money on their lavish life styles, planes, vacations, fat retirements, and free student loans for their kids. Time that they go. Tired of all of them. Give the Country back to the people.
If they were all fired, the now existent ratio of fraudulent to honest people would still be enforced by the people who manipulate elections, steal votes, loose votes, and place multiple illegal votes. This can be overcome, but it is very difficult, given the mass-mentality. Failure by design is what we are up against. It's the ultimate, Political and economic equivalent of the "Planned Obsolescence" mentality that pervades virtually all manufacturing. Manufacturing IS our Economic Base. Now it has spread throughout our entire Political and Economic Structure. But THAT was the idea in the first place, that very few saw. This DID NOT "Just happen" as so many people think. Consequently, it cannot be "Just Fixed" as those same people think. I would start looking at this; Unionized Teachers EQUAL Unionized Incompetence." In-COMPETE-nce means just that; there is no competition in the arena of education or awareness. Everything falls to the lowest common denominator, and there is no force to oppose it.
If just one person in every household in America would just go, I mean just go to DC to protest . it would bring the city to a squentting halt. then and then will the American people have a voice.
When is the American people going to say enough is enough and fire all the bums in Washington. The money they are paid with all the perks you would think we could get people to do the job. We should fire them all without their pensions and let them work for a living for a change. Take people that have been trying to get a job for months and give them the job that these bums have completely screwed up. They probably would do a lot better.
It is no use unless Congress' pension plan is revoked first- after SIX years in office each one gets lifetime pension and benefits. This means someone elected to the House at age 25 can retire at age 31!
A POX ON BOTH THEIR HOUSE'S. THE BIGGEST DANGER TO EITHER PARTY IS IF THE SHUT DOWN LAST A WHILE, THE AMERICAN PEOPLE WILL START TO RELISE THAT WE REALLY DON'T NEED THEM FOR MUCH OF ANYTHING.
The problem is as i see it that the all or nothing progressives are not used to the new breed of principled libertarian
Republicans that are more concerned with the citizens then anyone has been for a long time. Neither side has a clue how to address the situation they present. The old status quo of the Dems throwing a temper tantrum and the Reps folding like a cheap suit is not working. The new guard is gaining a following sending the old guard into a tizzy, and seem to be more interested in doing what is good for the country and people and less about their reelection. The old guard sellouts to the banks and conglomerates is panicking as their cash cows are gored. Had the liberal policies the caused corporate America to hord their profits rather than investing it been short term we would have the strongest economy in the world by far but it has been a long term situation that have established its self into the grain of the country, eliminating it will require invasive surgery that many are not ready for nor willing to accept. Doing otherwise will be a sure way to the end of all they hold sacred anyway.
I agree with you Adam, both parties are to blame for the juvenile behavior in Washington and all should be shown the door! Unfortunately, I think too many folks in America "like the lies" coming from our "leaders" to replace the corrupt children in Washington, leaving us in a very unpleasant situation.
Americans, you voted Obama into office - so let him do his job! Honestly, I don't understand why in the world would there be so many parties involved in politics?! Don't they know "too many cooks spoil the broth"?!
Let him do what he wants then right ? Yeah - legalize all mexicans for more DEMOCRACK voters to be
Give 99 weeks welfare
More handouts
more $$$$ down the drain
More " I AM ON A LIFE MISISON TO FIND MYSELF " obama ...
Right.. When George Bush listened to all the "voices", he didn't do the right thing either for America.. Give Obama & his administrators a chance to prove themselves.. Besides, who exactly know what works & what doesn't??
The post associate with my name is not mine! WTF?
I agree Adam. Throw all the Democrats and all the Republicans out of office and the political appointees who were approved by those pol's and get a new start.
I'm with you Adam - they all need to be fired!
Adam, I couldn't agree with you more. Nice post.
Who cares if the government shuts down? I would like a pro-rated credit for all the taxes I pay to keep the government in business, however, if they do shut down. I think that our government workers are concerned that if a shut-down occurs, Americans will realize how little value government adds, and the uselessness of government will become apparent. We really need to stop arguing so viciously about politics- don't you folks have sporting teams to fight about? Be nice- nothing you argue about will change anything- and arguing creates an ugly spirit inside of you.
It shuts down every weekend with no ill effect.
Yes, they are childish because they were never deciplined as children. The government won't let parents decipline their children. Parents don't teach their kids how to sacrifice and if they scream loud enough the parents give in and the kid gets what he wants. This carries into adulthood.
Call it childish, but it's clear, what they want to say: "Who has the power?"
Throwing them out of the office wouldn't help, but cut them their salary, than they might find a way to cooperate again.
The thing in Congress about Obamacare is a little bit disturbing to normal people just looking at this scenery. On the one hand, they all agreed years ago to get Obamacare in function. So that was common agreement for most members in Congress. But the situation now is that a special part of Congress want to torpedo an already made agreement for what reason? Why not put Obamacare in force, and correct it, if it don't work properly during the first or second year. I guess, that this is not a perfectly working system from the beginning on, and it has to be corrected several times to work properly.
Tea Party + Right Wing Radio + FOX TV + Pure hate from a small group of whites " who can not digest the reality that a BLACK MAN sitting in THE WHITE HOUSE " is the perfect storm for dysfunction in Washington D.C...
Amazing; you missed the entire gist of Adam's post. Incredible.
No ... I did not miss the point... that is reality in today's Right wing world.. Did you ever see Govt shut down
during Reagan and Bush era when Democrats had majority... small group of rightwing nuts are hijacking the country... believe me, you will NOT see a republican in OVAL OFFICE for next 20 years...
It's interesting that you mention 20 years. After the 1929 crash, democrats were in office from March 4, 1933 - January 20, 1953.
Wow!
This is nothing new - same situation happend when the Democrack Clinton the cheating what is is ... was in office with Newt.
Why should we just let Odummer do what he wants.
The parks and Rec are on autopilot - non event.
The democracks are a bunch of big babies
Democracks have consistently said any changes to President Barack Obama's signature health care law would be a deal-killer.
They wheel and deal with Russian, Iran - but not with GOP
gimme a break
Gee, how did I know you would wheel the "both sides are equally bad and wrong" dreck out of the hall closet? The Democrats aren't the ones who are threatening to bring government to a screeching halt if their laundry list of demands from the previous election that they lost aren't met.
Please
You guys would jam it down our throat if you had both House and Senate.
Get lost tree hugger.
That name-calling and cliche-regurgitation is the best you can do pretty much says it all about the intellectual caliber of you and the Republican base.
venuspluto67, both you and Rich are missing Adam's point.....BOTH parties are to blame for the mess we are in. Don't let them divide us (thats how THEY win every time). Grow a pair and recognize that neither party is doing what is best for ALL Americans. Adam is correct that our politicians only do what is best for THEM (exempting themselves and their families from ObamaCare is a great example....if the legislation is so GREAT, why have they chosen to not force it upon themselves?).
Actually they (the Dems) are. All the Republicans are now proposing is a one year delay in implementing Obamacare. Since Obamacare is a "train wreck", in the words of a Democratic Senator; it is to the advantage of the Dems to delay its start by one year to repair the track, so to speak.
The Dems are what? Larry. And if Obamacare is a train wreck, which it isn't, because it hasn't even been implemented yet, it's because the Reps have done everything they can to make sure that it doesn't work . Damn their constituents that may need it, or the deficit reducing properties that it may have, they are protecting their JOBS. Because they don't want to get run out of their job by the Tea Party fanatics in their districts. Oh, and by the way Larry, once Obamacare is up and running and people have a chance to see just how good it is, don't forget to keep calling OBAMA CARE!
Have a nice day, I'm going out to hug a few trees.
Don't you read your own postings? I was replying to your comment that "The Democrats aren't the ones who are threatening to bring government to a screeching halt if their laundry list of demands from the previous election that they lost aren't met." The only thing the Dems would not get on their laundry list is a one year postponment of Obamacare. As far as it not being a train wreck; why are Congress, unions, universities, and other liberal special interests being granted and asking for exemptions? Why did Obama postpone parts of it already? I can go on and on.
Okay, for starters, please pay attention to post-headers. I did not write the post to which you were just replying. For another thing, the GOP wants rather more than a one-year delay on implementing Obamacare:
http://talkingpointsmemo.com/dc/gop-s-dangerous-debt-limit-demand-a-christmas-tree-of-conservative-goodies
That is to what I was referring in my original comment. Another thing I don't understand is the Orwellian unreality in which the right is living about Obamacare. What eventually became the hated Obamacare started out as a Heritage-Foundation-approved alternative to "Clintoncare" back in the nineties, which is why I have always in fact been very dubious about it. But I'm even more dubious about the idea of holding the national budget hostage in order to sabotage it.
Yes Larry ....we need to kick THAT can on down the road ?
Can someone explain what "solution" means to all those in con-gress?
The Senate voted Monday afternoon to kill House Republicans’ latest stopgap spending offer, holding firm in their demand that Congress continue to fund Obamacare as part of any government-funding debate.
http://www.washingtontimes.com/news/2013/sep/30/shutdown-showdown-senate-kills-house-spending-bill/
The Senate's decision was foreseeable. But the biggest problem, financing, or at least to adopt a transitional budget is still outstanding.
One might think about what happens, if "goverment" indeed would shut down for some weeks? Indeed, it would be more likely, that the public sector would be affected in some way, but government is essential, and president O. would take seat at his office chair also on Wednesday at his office, I guess.
Some really think, that this would not be the worst thing if it happens, when they look at the oversized (overpaid?) administration. The question is also, if ppl would be able to deal with it, when the public sector is doing their service at a less reduced rate.
IMO "government will not shut down", or at least will not loose its ability, to do their jobs, for some reasons:
1) Essential parts will stay in force, and for a while, the non-essential parts can rest and ppl will will deal with the reduced work force in public sector.
2) A transitional budget is very likely to pass congress, question is, how would that buget look like and when will they find a common agreement for the transitional budget.
3) Essential work in the public sector will be done anyway, because a) ppl probably love their hated jobs, and b) ppl, who feels responsible for their work, will do their job anyway, even if they get less paid or no salary (for a while).
Should we call those, who do their job also with less or no salary (only for a while) "good fellows"? Hard to say, what will be the motivations, if ppl decide to come to a job, but not get paid? I guess, that the biggest motivation for those is, that they have a trustable employer, and that they have a "vision" for the future, that they trust in that, what they work for: their nation, doing service for the ppl of their country.
I guess that work on the "solution" means, that they must look in more detail, what can be done to improve the PPACA. For my understanding most disputed are the exemptions. But to correct the law in these details, it is mandatory to see in practice, how the law affects the health system and health insurances. Congess must now start not to get lost to correct these details, but to support the common agreement, to implement the law.