Wall Street Weather Forecast For Week Of March 30, 2009
Summary Of Last Week’s Influences:
Fridays are ruled by Venus (banking and finance). Last Friday 15 of the nation’s TARPed bank chief executives were summoned to meet with President Obama at the White House to get their support for the Administration’s new public-private toxic assets plan.
Humans cannot survive without water; water is cleansing. The water element represents feelings and the ability to empathize with other people’s circumstances and situations. Whether or not the Administration was trying to send a subtle message, the bankers were offered nothing more than a glass of water at the meeting.
Since Venus in fast-acting Aries turned retrograde* March 6, many of the banks who received TARP money began announcing they would pay back the government as soon as next month. After the meeting, the CEOs began backtracking from their earlier estimates. Other CEOs such as JPMorgan’s (JPM) Jamie Dimon and Bank of America (BAC) CEO Ken Lewis also admitted that March has not been as profitable for the banks as January and February; one of the drivers behind the recent spike in financial stocks.
Venus retrograde in Aries is bringing back many of the financial issues and plans that were started or attempted six months ago when Mercury was retrograde in Venus-ruled Libra, the zodiacal sign opposite Aries. Pluto rules debt and what is toxic and kept hidden. Capricorn represents government. Last week with the Sun and Venus in take charge Aries challenging Pluto in Capricorn, Treasury Secretary Timothy Geithner announced a plan to offer generous government incentives for hedge funds and private investors to buy toxic assets from banks. The government would take on most of the financial risk, in essence moving the shadow banking system from Wall St. to Washington.
And now Treasury Secretary Geithner and Fed Chairman Bernanke want “powers” to take over any institution they deem too much of a systemic risk to fail. Because they didn’t have these “powers,” they claimed they weren’t able to negotiate collateral payments with AIG’s counterparties, nor were they able to save Lehman Brothers from bankruptcy.
Bernanke said at a hearing on AIG last week: “We simply weren’t prepared for a crisis of this magnitude.” So why should we:
1. Give additional “powers” to the very people like Bernanke who not only enabled the crisis by carrying on Greenspan’s monetary policy, but his and Geithner’s mega fumbles in engineering the response to the crisis since Bear Stearns collapsed?
2. With a remark like that and Bernanke’s track record we’re supposed to take his word that he’ll shrink the money supply fast enough when inflation picks up speed? Sure.
The negative side of Pluto in Capricorn until 2024 is the government uses a crisis as a power grab.
Summary Of This Week’s Influences:
Last week was another positive week for the major indices. More volatility begins to set in this week as Pluto’s energies are even more pronounced as it is stationary and will turn retrograde at the end of the week. When Pluto turned retrograde on April 2 last year, Bernanke told the Joint Economic Committee that “A recession is possible.” ;-)
Secrets, especially relating to financial matters, get revealed. Expect even more Pluto themes in the news such as bankruptcy, debt, insurance, taxes, wills/legacies, death/rebirth, spying, black holes and nuclear issues.
North Korea is preparing to launch a rocket carrying a satellite as early as April 4, the day Pluto turns retrograde! Japan has ordered the deployment of missile interceptors to shoot down the rocket which they suspect is a long-range missile. (North Korea will continue to be prominent in the news through the spring and also July-September.)
Venus is gearing up this week to exactly challenge Pluto Friday morning. This reflects the conflicting financial agenda between the US and UK versus other member nations of the G20 which begins in London Wednesday evening. The US and UK want member nations to pump more stimulus spending into their economies to revive global growth, while other countries want to focus the summit on regulatory reform. Hopefully wiser viewpoints, such as German chancellor Angela Merkel’s will prevail. In an interview with the FT, Merkel said: “This crisis did not come about because we issued too little money but because we created economic growth with too much money, and it was not sustainable growth. If we want to learn from that, the answer is not to repeat the mistakes of the past.” Merkel seems to have grasped the message of Saturn in Virgo opposing Uranus in Pisces (2008-2010).
The Administration will announce its plans for General Motors (GM) and Chrysler on Monday. It’s just been announced that GM CEO Rick Wagoner will resign at the request of the Administration.
Monday, March 30, 2009
Negative trend bias.
Tuesday, March 31, 2009
Negative sentiment gives way to improving conditions in the final two hours.
Wednesday, April 1, 2009
Choppy/mixed to positive trend bias.
Thursday, April 2, 2009
Choppy/mixed to moderately positive bias. Weakens and closes moderately down.
The First Quarter Moon in Cancer occurs at 10:34 AM EST. The world news is dominated by fast moving events in the US and the UK.
Friday, April 3, 2009
The Venus/Pluto alignment exact today could reflect revisions to the previous employment reports and/or the numbers released today will be end up being revised next month. Venus/Pluto covers up all the unemployed workers who are not counted because they are not eligible for benefits. In short, we're not getting the real picture.
The Venus/Pluto alignment last occurred on February 5/6 when both planets were direct. With Mars opposing Saturn now, caution rather than the bullishness of their last alignment could set in as the market fears more harsh actions by governmental authorities in the financial system.
*Planets do not really move backwards, but appear to from Earth’s vantage point.
Posted 3/29/2009 07:47:00 PM