Saudi Arabia Declares Oil War on US Fracking, hits Railroads, Tank-Car Makers, Canada, Russia; Sinks Venezuela

When OPEC announced on Thanksgiving Day that it would maintain oil production at 30 million barrels per day, chaos broke out in the oil market, and the price of oil around the globe spiraled into a terrific plunge. The unity of OPEC, if there ever was such a thing, was in tatters with Saudi oil minister smiling victoriously, and with a steaming Venezuelan oil minister thinking of the turmoil his country is facing [OPEC Refuses to Cut Production, Oil Plunges off the Chart].
The bloodletting in the oil markets on Thursday led to some wobbly stability on Friday, and for a while it seemed oil had found a bottom, but then the US stock market closed early while crude continued trading, and suddenly all heck re-broke loose, and the US benchmark WTI plunged again and broke the $66-a-barrel mark before coming to a rest at $66.06. After a near 10% dive in two days, WTI is now down 37% since June!
This chart shows the Thanksgiving plunge following OPEC’s decision, the deceptive stability Friday, and the afterhours plunge:

This post was published at Wolf Street on December 1, 2014.

Current Position Of The Market

SPX: Long-term trend – Bull Market
Intermediate trend – While everything technical points to an overbought condition which should require an adjustment, the exact timing of that correction is for the market itself to decide and reveal.
Analysis of the short-term trend is done on a daily basis with the help of hourly charts. It is an important adjunct to the analysis of daily and weekly charts which discusses the course of longer market trends.
TECHNICAL INDICATORS WORSENING
Market Overview
Last week, the SPX traded in a very small range. That had the effect of creating even more deceleration than occurred two weeks ago. At that time, the waning uptrend was rescued by the announcement that the Bank of China had cut its lending rate. This caused the index to gap open, and move to a new high, but the rally quickly ran out of steam and prices went essentially sideways for most of the week.
There was another announcement which impacted the market on Thursday! OPEC left its production rate unchanged. While this was clearly a negative for oil stocks, the rest of equities were not sure and the index quickly stabilized near unchanged, but sold off at the close. Since Friday was a short session, the week-end may be required to fully digest the impact of this decision and, by Monday, we will know better how the overall market is taking the news, although the longer-term effects are likely to be negative.
Let’s look over the week’s impact on the technical indicators.
Momentum: The weekly MACD continued to edge up with severe negative divergence. The SRSI is, at best, neutral with a strong negative bias. With its histogram at .46 the daily MACD is very close to making a bearish cross, while the SRSI has (finally) begun to roll over. The hourly MACD is still positive but has started to accelerate its decline.
Breadth: The McClellan Oscillator rolled over after posting strong negative divergence. The Summation Index pushed slightly higher.
Structure: Probably still in primary wave 3. It remains within the confines of its intermediate channel.
Accumulation/distribution. Short-term: A small distribution pattern has formed on the 1X P&F chart. Long-term: No sign of distribution on 3X chart.
XIV: Has played catch-up with SPX in the past few days and may have filled a projection. It sold off sharply on Friday.
Cycles: It may be time to consider the implications of the 7-year cycle topping in this time frame with a low towards the end of 2015.

This post was published at Gold-Eagle on November 30, 2014.

Friday Night Charts…BLACK FRIDAY IN THE ENERGY MARKETS

Tonight I would like to update a few oil charts I posted several weeks ago when oil was breaking out of that multi year five point triangle reversal pattern.
Before we look at the bigger picture I want to show you a short term daily chart that had an interesting day. There are several things I like to look at when I see a stock that looks like it’s breaking out. First, it’s nice to see an increase in volume but sometimes it happens a day or to later. Secondly, it’s always nice to see a gap where you were expecting a breakout. That gives you a little more confidence when your anticipating a breakout and it happens right where it should. The third thing I like to look for is a long bar that covers a lot of ground. It tells us that, in oils case, there were no more bulls left to defend the support zone, so they retreat en mass looking for the next support zone to try and defend. In a bear market all the bulls can do is put up some minor support as the big trend is down and they’ll be overrun again in due time by the bears. You can clearly see this on the short term daily chart for oil below.

This post was published at GoldSeek on 1 December 2014.

“Panic Selling” Saudi Stocks Crash Into Bear Market Following OPEC Decision

It’s not just Shale oil stocks in the US that are hurting. Following the OPEC decision to not cut production and squeeze US producers, Saudi Arabia’s major stock market index has tumbled into a bear market, giving up all the year’s gains. As one analyst noted, “investors are afraid if oil stays where it is, it will negatively impact the government revenues, thus creating potential headwinds on government spending.” Dubai stocks – our long-time favorite bubble index – has also been hammered, down over 7% intraday at its worst…

This post was published at Zero Hedge on 11/30/2014.

10 Signs That Ferguson Could Be The Start Of A Communist Revolution In America

The far left is rising in America, and radical communists are being drawn to Ferguson protests all over the nation like moths to a flame. So could Ferguson be the spark that sets off a communist revolution in America? Certainly I am not saying that everyone involved in the Ferguson protests is a communist. That is not true at all. In fact, communists and other far left groups only make up a minority of the protesters. But they have repeatedly been at the forefront of the violence, and they are taking advantage of the anger and frustration caused by the death of Michael Brown to promote their far left radical ideologies. Sadly, they are finding a receptive audience – especially among young people in our poor and disadvantaged communities. Even though Republicans did very well in the last election, survey after survey has shown that our young adults continue to move to the left. For example, one survey taken a few years ago found that 49 percent of all Americans in the 18 to 29-year-old age range have a positive reaction to the word ‘socialism’. The same forces that fueled Occupy Wall Street are now finding fertile ground in these new protests. So what does all of this mean for the future of our nation? The following are 10 signs that Ferguson could be the start of a communist revolution in America…

This post was published at End Of The American Dream on November 30th, 2014.

Retail Disaster: Holiday Sales Crater by 11%, Online Spend Declines: NRF Blames Shopping Fiasco On “Stronger Economy”

Last year was bad. This year is an outright disaster.
As we reported earlier using ShopperTrak data, the first two days of the holiday shopping season were already showing a -0.5% decline across bricks-and-mortar stores, following a “cash for clunkers”-like jump in early promotions which pulled demand forward with little follow through in the remaining shopping days. However, not even we predicted the shocker just released from the National Retail Federation, the traditionally cheery industry organization, which just reported absolutely abysmal numbers: sales during the four-day Thanksgiving holiday period crashed by a whopping 11% from $57.4 billion to $50.9 billion, confirming what everyone but the Fed knows by now: the US middle class is being obliterated, and that key driver of 70% of US economic growth is in the worst shape it has been since the Lehman collapse, courtesy of 6 years of Fed’s ruinous central planning.
Demonstrating the sad state of America’s “economic dynamo”, shoppers spent an average only $380.95, down 6.4% from $407.02 a year earlier. In fact, as the NRF charts below demonstrate, there was a decline across virtually every tracked spending category (source):

This post was published at Zero Hedge on 11/30/2014.

The Continuing Story of Involuntary Servitude

The word slavery conjures up the most horrific images of evil and injustice in modern mind, on par with just about any other atrocity we can imagine. And rightly so. Nothing interferes with the fundamentally human right to control ones own life more than being forced into involuntary labor, with the possible exceptions of rape and murder. In America, the relative recency of the institution of slavery causes us to cringe all the more at its mention, invoking as it does the vividness of a past of which we remain deeply ashamed.
But the stigma of involuntary servitude, deep and visceral as it is, has not been enough to prevent the practice altogether. Indeed, there are still many areas in our modern, supposedly enlightened society, in which forced labor is not only permitted, but encouraged, and where the mere suggestion of abolition is met with outrage and indignation.
A prime example of this is the existence of anti-discrimination laws, that compel producers to provide service to others against their will. There is a broad societal feeling that anyone who chooses to offer their services to one person, must choose to offer their services to everyone equally, and without exception. Of course, this flies in the face of human freedom. If I possess a skill, I should be free to employ or not employ that skill according to my own preferences.

This post was published at Mises Canada on November 30th, 2014.

Germany’s DW Reports ISIS Supply Lines Originate in NATO’s Turkey

Germany’s international broadcaster Deutsche Welle (DW) published a video report of immense implications – possibly the first national broadcaster in the West to admit that the so-called ‘Islamic State’ (ISIS) is supplied not by ‘black market oil’ or ‘hostage ransoms’ but billions of dollars worth of supplies carried into Syria across NATO member Turkey’s borders via hundreds of trucks a day.
The report titled, ”IS’ supply channels through Turkey,’ confirms what has been reported by geopolitical analysts since at least as early as 2011 – that NATO member Turkey has allowed a torrent in supplies, fighters, and weapons to cross its borders unopposed to resupply ISIS positions inside of Syria.
In one surreal scene from the DW report, anti-Syria terrorists are seen walking across the border and literally shot dead just on the other side by Kurdish fighters.
Local residents and merchants interviewed by Germany’s DW admitted that commerce with Syria benefiting them had ended since the conflict began and that the supplies trucks carry as they stream across the border originates from ‘western Turkey.’ The DW report does not elaborate on what ‘western Turkey’ means, but it most likely refers to Ankara, various ports used by NATO, and of course NATO’s Incirlik Air Base.


This post was published at The Daily Sheeple on November 30th, 2014.

World’s Oldest Computer is More Ancient Than First Thought

The rusty bronze fragments of the Antikythera Mechanism, the world’s oldest computer, are 100 years older than scientists previously thought.
This is according to Argentinian researchers who found that an eclipse prediction calendar – a dial on the back of the mechanism – includes a solar eclipse that happened on May 12, 205 B. C.
Previous radiocarbon dating analysis of the remarkable mechanism had provided a later construction date of around 100 to 150 BC.
The study, by the National University of Quilmes, suggests that the process in which the computer predicts eclipses is Babylonian arithmetic, rather Greek trigonometry.
This ancient device ‘predates other known examples of similar technology by more than 1,000 years,’ according to a report by John Markoff in the New York Times.
The highly complex mechanism, made up of up to 40 bronze cogs and gears, was used in ancient times to track the cycles of the solar system.
It was recovered in 1900 from the Antikythera wreck – a Roman cargo shipwreck off the Greek island of Antikythera.

This post was published at Lew Rockwell on November 29, 2014.

Fukushima Clean-Up Based on Shady Science and Tax Payer Rip-Off

History is indeed little more than the register of crimes, follies, and misfortunes of mankind. – Gibbon
In my article ‘Scandal-Ridden Japan’ (1) I discussed the difficulty of decommissioning the fatally damaged Fukushima nuclear power plant #1 (FNPP#1). To give credit to Tepco (Tokyo Electric Power Company), most of the fuel rods which were an extreme danger at unit 4 have been removed and the rest will be placed in dry cask storage by end of year. But that was easy pickins compared to the entire process of ‘cleaning up’ (with scrub-brush, mop, bucket, soap and water and a little elbow grease) three wrecked nuclear reactors which it is admitted will take at least 40 years.
Rome wasn’t built in a day and took quite awhile to fall.
Or, what we are witnessing is an experiment carried out by Mad Scientists (MDs) to further ‘R&D’ and ‘help make the world a better place.’ Recall the slogan from DuPont corporation: ‘Better Things for Better Living… Through Chemistry.’ DuPont was one of the robber baron corporations of its day and displaced the ecologically-friendly hemp industry in order to turn a profit through dependence on plastics (2).
The oceans are now full of plastic debris which is choking the sea life.
At Fukushima the powers-that-be are using low paid workers as debt-slave/cannon-fodder/lab-rats while pilfering the public purse, and if some worthwhile research comes of it, let alone the actual completion of the task, all the better. Forty years is a nice, round number and those that concocted it will no longer be around to take responsibility for the malfeasance if things turn out differently.

This post was published at The Daily Sheeple on November 30th, 2014.

Neil Sanders: Mind Control / Your thoughts are not your own 11.27.2014

The following video was published by Paul Sandhu on Nov 30, 2014
Neil Sanders: Mind Control is a documented fact. The control of the actions and emotions of an unsuspecting victim has been a reality since at least the 1950’s. Drawing on declassified documents, interviews with the doctors’ involved, scientific papers and mainstream media reports, Your Thoughts Are Not Your Own shows the origins, objectives and architects of mind control.
Neil Sanders holds an MA in Film Studies, studied Psychology and Media Production for his BA Honours and is a qualified hypnotherapist. Neil is considered an expert on the subject of mind control and has been studying the history of this dark art and its application by military and government intelligence agencies across the globe for many years. Neil has appeared on several television shows and made numerous radio appearances in Europe and the USA and is the author of Your Thoughts Are Not Your Own Volumes one and two.

Episode #61 – ‘Ferguson Riot Spectacular’ Patrick Henningsen with guest E.T. Williams

Episode #61 of The Sunday Wire Radio Show resumes this Sunday November 30, 2014presented by host Patrick Henningsen with 3 hours of power-packed talk radio and music…
LISTEN LIVE ON THIS PAGE AT THE FOLLOWING SCHEDULED SHOW TIMES:
SUNDAY – 5pm-7pm GMT | 12pm-3pm EST | 9am-12pm PST This week’s edition of THE SUNDAY WIRE will be broadcasting LIVE, as this week’s host Patrick Henningsen from 21WIRE, covers the week’s top stories from the US, Europe and beyond. In the first hour – Patrick scans through world news before zeroing in on the ‘Ferguson Verdict’ and subsequent riots – what happened and what it means. We’re then joined by special guest, author and cultural commentator, E. T. Williams, aka The Doctor of Common Sense to discuss the Ferguson case, the protests, President Obama and the issue of race in America. In the third hour we are joined by 21WIRE Contributor, Basil Valentine, to talk about the European perspective regarding race, political correctness and identity politics.
Strap yourselves in and lower the blast shield – this is your brave new world…
*WARNING THIS EPISODE CONTAINS EXPLICIT LANGUAGE AND ADULT THEMES*

This post was published at 21st Century Wire on NOVEMBER 30, 2014.

Ferguson Update: Oath Keepers Prevented From Defending Ferguson Businesses

Last night, a number of us monitored police communications in St. Louis by listening to the local police (Ferguson) radio traffic on the Internet at WWW. BROADCASTIFY. COM
It would seem that POTUS, through Valerie Jarret, who is in direct communication with MO. Governor Nixon, the Feds have had their way. The police chatter indicates that the Oath Keepers have been forced to ‘stand down’.

This post was published at The Common Sense Show on 30 Nov, 2014.

‘We Are Entering A New Oil Normal”

Investment Observations
The precipitous decline in the price of oil is perhaps one of the most bearish macro developments this year. We believe we are entering a ‘new oil normal,’ where oil prices stay lower for longer. While we highlighted the risk of a near-term decline in the oil price in our July newsletter, we failed to adjust our portfolio sufficiently to reflect such a scenario. This month we identify the major implications of our revised energy thesis.
The reason oil prices started sliding in June can be explained by record growth in US production, sputtering demand from Europe and China, and an unwind of the Middle East geopolitical risk premium. The world oil market, which consumes 92 million barrels a day, currently has one million barrels more than it needs. US pumped 8.97 million barrels a day by the end of October (the highest since 1985) thanks partly to increases in shale-oil output which accounts for 5 million barrels per day. Libya’s production has recovered from 200,000 barrels a day in April to 900,000 barrels a day, while war hasn’t stopped production in Iraq and output there has risen to an all-time high level of 3.3 million barrels per day. The IMF, meanwhile, has cut its projection for global growth in 2014 for the third time this year to 3.3%. Next year, it still expects growth to pick up again, but only slightly.
Everyone believes that the oil-price decline is temporary. It is assumed that once oil prices plummet, the process is much more likely to be self-stabilizing than destabilizing. As the theory goes, once demand drops, price follows, and leveraged high-cost producers shut production. Eventually, supply falls to match demand and price stabilizes. When demand recovers, so does price, and marginal production returns to meet rising demand. Prices then stabilize at a higher level as supply and demand become more balanced. It has been well-said that: ‘In theory, there is no difference between theory and practice. But, in practice, there is.’ For the classic model to hold true in oil’s case, the market must correctly anticipate the equilibrating role of price in the presence of supply/demand imbalances.
By 2020, we see oil demand realistically rising to no more than 96 million barrels a day. North American oil consumption has been in a structural decline, whereas the European economy is expected to remain lacklustre. Risks to the Chinese economy are tilted to the downside and we find no reason to anticipate a positive growth surprise. This limits the potential for growth in oil demand and leads us to believe global oil prices will struggle to rebound to their previous levels. The International Energy Agency says we could soon hit ‘peak oil demand’, due to cheaper fuel alternatives, environmental concerns, and improving oil efficiency.

This post was published at Zero Hedge on 11/30/2014.

Are Conspiracy Theories Falsifiable? – Dr. Tjeerd Andringa on The Corbett Report

The following video was published by corbettreport on Nov 30, 2014
Dr. Tjeerd Andringa of GeopoliticsAndCognition.com joins us to discuss a question James posed in the last subscriber video: are conspiracy theories falsifiable? We discuss Karl Popper’s famous “falsification” criteria for the demarcation of science and its potential applicability to geopolitical events. Dr. Andringa also details an approach for how to proceed in developing resilient hypotheses in an unstable, chaotic and non-closed system like global geopolitics.

Gov’t Admits Rotavirus Vaccine Can Cause Intussusception, Adds It to Injury Compensation Program

Because the Obama administration quietly announced their plans for 3,400-plus new regulations last week just after Ferguson erupted and just in time for the Thanksgiving holiday, a lot of what’s actually going on in that rather long list was already lost and forgotten pretty much the moment it was released.
One regulation worth mentioning has to do with rotavirus vaccines and a condition called intussusception. Intussusception is a serious condition where part of the intestine slides into an adjacent part of the intestines, and it is the most common abdominal emergency to hit kids under the age of two. Usually the intestines become blocked. This results in the veins becoming compressed, the intestines swelling, and ultimately, obstruction. Reduced blood flow can actually kill the affected intestine, causing it to become gangrenous. Intussusception can cause internal bleeding, and it can even cause the intestine to rupture. Symptoms include cramps and abdominal pain which for infants seems like a colicky reaction, vomiting, and lack of appetite. Failure to catch this condition early or misdiagnosis can lead to death.
Babies under a year old are most susceptible to intussusception.
One of 3,415 new rules (which surely should’ve been in place when rotavirus vaccines first began being administered) officially adds intussusception to the Vaccine Injury Table for rotavirus vaccines under the National Vaccine Injury Compensation Program.
The rule states:

This post was published at The Daily Sheeple on November 30th, 2014.

Dmitry Orlov: Russia’s Patience Is Wearing Thin (complete audio 56:10)

The following video was published by ChrisMartensondotcom on Nov 30, 2014
Having lived in the former USSR before immigrating to the US, Dmitry Orlov has an invaluable perspective on both the US and Russian perspectives, as well as Ukraine.
With the western propaganda flying thick and heavy, it’s more important than ever to cut through the chaff and learn what we can about the most important geopolitical realignment (and renewed tensions) in recent memory.

Black Friday In The Energy Markets

Tonight I would like to update a few oil charts I posted several weeks ago when oil was breaking out of that multi year five point triangle reversal pattern.
Before we look at the bigger picture I want to show you a short term daily chart that had an interesting day. There are several things I like to look at when I see a stock that looks like it’s breaking out. First, it’s nice to see an increase in volume but sometimes it happens a day or to later. Secondly, it’s always nice to see a gap where you were expecting a breakout. That gives you a little more confidence when your anticipating a breakout and it happens right where it should. The third thing I like to look for is a long bar that covers a lot of ground. It tells us that, in oils case, there were no more bulls left to defend the support zone, so they retreat en mass looking for the next support zone to try and defend. In a bear market all the bulls can do is put up some minor support as the big trend is down and they’ll be overrun again in due time by the bears. You can clearly see this on the short term daily chart for oil below.

This post was published at Gold-Eagle on November 30, 2014.