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The Impending Undeclared Default Of 5 Major US Banks

A reader sent this in.  Thank you, Maureen

Listen to Jim Sinclair on this site http://www.jsmineset.com/.

BALTIC DRY INDEX Collapsing

http://www.bloomberg.com/quote/BDIY:IND

Joe Granville: Dow to drop 4000 points

http://www.washingtonpost.com/business/granville-says-djia-to-fall-4000-points-by-years-end/2012/01/23/gIQAJIvnLQ_video.html

Solar storms and market activity chart

Source: http://www.wallstreetwatchman.com

RADIATION STORM IN PROGRESS

http://spaceweather.com/

RADIATION STORM IN PROGRESS: Solar protons accelerated by this morning's M9-class solar flare are streaming past Earth. On the NOAA scale of radiation storms, this one ranks S3, which means it could, e.g., cause isolated reboots of computers onboard Earth-orbiting satellites and interfere with polar radio communications. An example of satellite effects: The "snow" in this SOHO coronagraph movie is caused by protons hitting the observatory's onboard camera.

ALMOST-X FLARE AND CME (UPDATED): This morning, Jan. 23rd around 0359 UT, big sunspot 1402 erupted, producing a long-duration M9-class solar flare. The explosion's M9-ranking puts it on the threshold of being an X-flare, the most powerful kind. 

 

Mercury in Sagittarius (Heliocentric)

Mercury left the sign of Sagittarius today.  We expect big moves in Gold and Silver when Mercury moves through this sign.  Gold went higher, but it was Silver that had the big move.

Why High Techs Are Ripe For A Correction

High-tech stocks have been enjoying a great party, lately. The Nasdaq composite has been up 2.8 percent for the week and 7 percent for the year. Popular stocks have fared even better for the year: Apple (AAPL) is up close to 12 percent; Salesforce.com (CRM) up 10 percent; Microsoft (MSFT) up 9 percent; Oracle (ORCL) 15 percent, Xilinx (XLNX) 18 percent, and Netflix (NFLX) 45 percent!

We do hate to spoil this party, but we do believe that high-tech stocks are ripe for a correction for the following reasons:  Read....

 

DJI / Sun Square Jupiter

Nightly Update -- $INDU, $SPX, $OEX, $VIX, GLD,SLV, UUP, FXE, OIL, TLT

Things look to be deteriorating, and I expect it to continue through Friday. 

Prices went higher, but the buying volume was not there. 

Good news out of Europe means the other shoe will fall in a day or two. 

I am expecting the markets to pull-back to their 20-day MA, or maybe their 50-day MA.

 

As Mercury moved into Sagittarius, Gold and Silver both moved higher: GLD up 3% and SLV was up 7%.