THE INTERNATIONAL FORECASTER
(CONT'D) The lack of corporate an insider buying
Thu Feb 5 18:47:43 2004
64.140.158.62

The lack of corporate an insider buying for the past several months leads us to believe that the public and the "Plunge Protection Team" are keeping the market where it is. Without inside support we can not expect the market to go substantially higher and we could be at the end of this bear market rally. Cash takeover volume is going nowhere and stock buybacks are falling. In the first three weeks of January, corporate offerings were larger than usual and corporate insiders were selling heavily as they did in November and December. Cash flow into the market has been heavy recently, which is usually indicative of a top. In fact, January probably was the heaviest January volume ever; 69.5% of investors are bullish, 17.1% neutral and 13.4% bearish. This is equal to the bullishness at the top of the bubble in March 2000. In January, the Volatility Index, VIX, touched its lowest level in seven years, which denotes extreme bullishness and complacency, which is interpreted as a bearish indicator. If these indicators continue, as they are, we can expect a market correction. How deep we don’t know, but the chances of a large fall are very good.

The Republican leadership in the house refuse to launch an ethics inquiry regarding Republican Nick Smith’s accusation that he had been offered extensive campaign support and endorsements for his son Brad who is running to succeed him, as well as threats of retribution against his son if he did not back the Medicare bill.

Surprise, surprise, our President submitted a $2.4 trillion budget, with a forecast $521 billion deficit. That means our previous estimate of over $600 will be right on-line. Growth is not going to fill the gap. Over the past two years, discretionary spending has increased by an average of 12.8% a year. Mr. Bush’s spending plans are the most anti-family, anti-health care and anti-education in modern times.

The G-7 meeting will be about every country lowering interest rates like Canada just did to keep pressure off a falling dollar. Other countries have to depreciate their currencies in order to stem another round of dollar weakness. We see little discussion among the G-7, and rates will get lowered. The cheapening of these currencies will set the stage for another upward move in gold. Buy coins, bullion and shares anywhere in this area. Agnico-Eagle (AEM-NYSE), Crystallex (KRY-ASE), Clifton Mining (CFTN) which just had a technical 40% retracement from its highs, Tumi Resources (TMN) and Fischer-Watt (FWGO).

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Source: Newspaper "Le Temps", Geneva, Jan 28, 2004. Page 2

On Dec. 31, 2003 Alexandre, 30, a Swiss national was transiting from Geneva via Newark to Montreal. Because his passport had expired in August 2003 (which airline agents in Geneva had not discovered) he was singled out by Newark "security", interrogated, fingerprinted, handcuffed, chained and thrown into the Elisabeth high security prison as "illegal immigrant" despite being in transit for Montreal in Newark. He had had the chance to put a phone call to the Swiss consulate before incarceration. On Jan 1, 2004, he was put on a plane back to Geneva. Meanwhile his luggage was waiting for him in Montreal.

Conclusion of the newspaper: in overreacting America, nothing is the same anymore. Stay away!

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Interesting facts that are easy to forget from a subscriber:

Your courage is inspiring. I hope (and presume but do not want any details) that you have taken precautions for your own safety.

While Woodrow Wilson was most certainly a traitor for creating the Federal Reserve, he presided over two other watershed events in 1913 that ensured the stealing of our country from the people. These were, on February 3rd the 16th Amendment giving congress the power to lay and collect taxes on incomes and on the 8th of April the 17th Amendment allowing for direct election of Senators (previously each State Senatorial body would elect two members from that body.)

The PTB knew that it was easier to influence a direct election by the people.

Keep up your great work.

*****

The calling of a Royal Commission of inquiry into the case of Maher Arar
is a very important development in the War on Freedom:
http://www.911review.org/Wiki/Arar,Maher.shtml

*****

THE INTERNATIONAL FORECASTER
FEBRUARY 2004 (#1) Vol. 8 No. 2-1
P. O. Box 510518, Punta Gorda, FL 33951

E-mail Addresses
International_forecaster@yahoo.com  (for correspondence)

IF_distctr@yahoo.com  (for information regarding your subscription or renewals)

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*****

I was a guest on the Stirling Faux Show on the Corus Radio Network in Canada - Sunday, January 25th. To listen to the interview go to www.HoweStreet.com , then scroll down to the interview section.

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• Bank Secrecy Act - AML/PATRIOT Act Q&A Archive — APFN, Thu Feb 5 20:35
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