Jump to content



Photo

VRTrader Update


  • Please log in to reply
No replies to this topic

#1 TTHQ Staff

TTHQ Staff

    www.TTHQ.com

  • Admin
  • 8,597 posts

Posted 16 May 2011 - 03:50 PM

Posted Image The VRTrader.com VR Silver Newsletter - Monday 5/16/2011
"Tools for the High Performance Trader"
Copyright ©2011, All rights reserved.
Redistribution in any form is strictly prohibited. LEIBOVIT FILES | by Mark Leibovit Leibovit Files
Monday, May 16, 2011
Markets Being Driven Lower by the Plunge Protection Team

--------------------------------------------
Commentary below from Mark Leibovit, TIMER DIGEST's #1 Intermediate Market Timer for the 10-year period ending in 2007, the #2 Intermediate Market Timer for the 10-year period ending in 2009, AND the #3 Gold Timer for the Ten Year Period ending 12/31/10.
--------------------------------------------
TIMER DIGEST SIGNALS:

Stocks - BULL -

Since the market (all markets) topped on May 2, the followers of 'Sell May and Go Away' are the most envied players in town. Technical and seasonal patterns do not favor the stock market going forward at this time. For traders, however, there will always be opportunities long or short. Looking at the market several months out, my gut feeling is that we can overall go higher, but I would still encourage you to lighten up just in case we experience another mini or 'flash' crash in the interim. Support for the SPX remains ranges from 1300 to 1310 with support at 1295 then 1270. We're entering 'summer' trading season which is historically choppy. Though I still carry the bull flag thinking we're ultimately headed back to or through the 2007 highs (between now and 2014), a lot can happen in the interim. Option Expiration week is ahead and 'normally' we experience a technical bounce coming on the heels of last week's sell-off on 'Weird Wollie Wednesday'

Gold - Bull -

Technical and cyclical patterns are negative. Though there is always the chance of sharp technical bounce, it is clear to me that we've run out of time, especially when you look at the carnage inflicted on Silver by the government's Plunge Protection Team in cahoots with the CME who also decided to target Crude Oil by also raising margin requirements. This is one of those 'outlier' events that unfortunately have become commonplace in today's economic, political and geocosmic world. That said, I am still a 'big picture' bull on Gold (been singing the same song for nearly a decade), but downside risk to 1425 and then 1370. Silver is still negative and though I do not have specific new downside target to report, when they throw the baby out with the bathwater anything is possible to the downside. Frankly, I have awaiting a potential positive technical signal to help confirm another rally phase (let's call it a retest of recent highs in both Gold and Silver) is underway.

Bonds - Bullish -

It's called a 'financial enema' when the 'Street' has brainwashed you to believe that interest rates are going up and bond markets are going down. As you know, the opposite has just occurred and while the 'big picture' for bonds does not appear healthy, for now there be buyers!


--------------------------------------------
Technical Analysts Corner -
Negative Leibovit Volume Reversals are the current prevailing signal in both stocks, precious metals and commodities. With the exception of a possible options expiration week bounce, these markets currently look lower until volume shifts back to the positive side of the ledger.
--------------------------------------------
UPCOMING ECONOMIC RELEASES/MARKET EVENTS
MAY 16 - 20, 2011:
--------------------------------------------
MONDAY, MAY 16:

Empire State Mfg Survey
8:30 AM ET

Treasury International Capital
9:00 AM ET

Housing Market Index
10:00 AM ET

4-Week Bill Announcement
11:00 AM ET

3-Month Bill Auction
11:30 AM ET

6-Month Bill Auction
11:30 AM ET

--------------------------------------------
TUESDAY, MAY 17:

Turnaround Tuesday

ICSC-Goldman Store Sales
7:45 AM ET

Housing Starts
8:30 AM ET

Redbook
8:55 AM ET

Industrial Production
9:15 AM ET

4-Week Bill Auction
11:30 AM ET

--------------------------------------------
WEDNESDAY, MAY 18:

Bank Reserve Settlement

MBA Purchase Applications
7:00 AM ET

EIA Petroleum Status Report
10:30 AM ET

FOMC Minutes
2:00 PM ET

St. Louis Federal Reserve Bank President James Bullard speech to the Money Marketeers in New York.
7:00 PM ET

--------------------------------------------
THURSDAY, MAY 19:

Jobless Claims
8:30 AM ET

Existing Home Sales
10:00 AM ET

Philadelphia Fed Survey
10:00 AM ET

Leading Indicators
10:00 AM ET

EIA Natural Gas Report
10:30 AM ET

3-Month Bill Announcement
11:00 AM ET

6-Month Bill Announcement
11:00 AM ET

2-Yr Note Announcement
11:00 AM ET

5-Yr Note Announcement
11:00 AM ET

7-Yr Note Announcement
11:00 AM ET

10-Yr TIPS Auction
2:00 PM ET

Fed Balance Sheet
4:30 PM ET

Money Supply
4:30 PM ET

--------------------------------------------
FRIDAY, MAY 20:

No economic reports scheduled.

Options Expiration day!

--------------------------------------------
STOCKS - ACTION ALERT -

The market was curse on Friday the 13th by increasing worries about Greece after the European Commission said its economy is doing worse than expected and amid increased talk that Greece might have to restructure its debt. Additionally, disappointing earnings from the Tech sector, a rising Dollar, historic flooding along the Mississippi River that threatens to disrupt oil production, and an insignificant dividend from Citigroup all contributed to the market's decline. The Dow Industrials fell 100.17 or 0.79% to 12595.75, the S&P 500 declined 10.88 or 0.81% to 1337.77, and the NASDAQ lost 34.57 or 1.21% to 2828.47. Breadth was negative. Volume was light, not unusual for a Friday.

All nine market sectors declined on Friday. Financials led the way down (XLF -1.44%) after Citigroup announced it would start paying a meaningless one-cent dividend. XLF posted its worst close of the year.

Technology was another big loser (XLK -1.23%) following weak earnings from CA and Nvidia bad news out of Yahoo.

Materials declined (XLB -1.28%) after gold fell below $1500. XLB closed at its lowest level in nearly two months.

Even Energy stocks fell (XLE -0.49%) despite the rally in crude oil. If the flooding along the Mississippi River disrupts oil production or refining, it won't matter much what the price of oil is because the oil companies won't be able to produce it to sell it.

Small Caps (IWM -1.39%) fell more than Large Caps (SPY -0.77%) as traders avoided risk.

Looking for some positives, Consumer Staples (XLP -0.12%), Healthcare (XLV -0.47%), and Utilities (XLU -0.30%) hit new highs Friday, though they all finished lower. But is this really a positive? These are defensive sectors. In a bull market, we would want to see economically sensitive stocks (XLI -1.21% and XLY -0.76%) or Technology lead the way up. One cannot expect a long-term bull market to be led by defensive names or commodity stocks, which had been leading the market higher up until a couple of weeks ago. "Sell in May and go away" might work again this year. With recent Negative Leibovit Volume Reversals, Platinum subscribers went short on Friday.

What the financial press is not talking about and what you generally hear one of the lone voices out there, me, is that the the culprit here is the Plunge Protecton Team who has made a concerted effort to drive down commodity prices and strengthen the Dollar is which is a BIG NEGATIVE for equity market. It all began by first raising margin requirements on Silver and then moved to doing the same for Crude Oil. You see, folks, the PPT can work in both directions and unlimited power can be used or misused.

Recall, the US Justice Department in recent weeks announced a new 'working group' (the Plunge Protection Team's original name was the 'Working Group on Financial Markets' created by Ronald Reagan in 1988) called the 'Financial Fraud Task Force (FFTF). Unfortunately, all they need to do is look within rather than without, but that won't happen until we kick the bums out which include the non-elected elite in Washington, D.C., so-called 'secret government'. More on this another time.

-------------------------------------------
DOW TRANSPORTS - ACTION ALERT -

Transportation stocks fell even more than the broader market as oil prices rose. The Dow Jones Transportation Average fell 70.33 or 1.29% to 5383.91, its lowest closing level in three weeks. That is not a good sign, as I view the Transports as a 'market leader'.

As one of the weaker indexes right now, Platinum subscribers shorted the Transportation Average's ETF along with another of other broad indexes. (See comments above.)

--------------------------------------------
GOLD and METALS - ACTION ALERT -

Metals moved mostly lower, though silver rose and copper posted a small gain, as the Dollar rallied on Euro-debt concerns. Gold declined 11.70 to 1495.20 even though it traded as high as 1517.80 Friday morning. Silver rose 0.68 to 35.30, though that was down from a high of 36.64. Platinum fell 5 to 1765 and palladium dropped 9 to 706 while copper inched up 0.0130 to 3.9835.

For more in depth coverage of all the week's action, subscribe to the VR Gold Newsletter. http://www.vrgoldletter.com/.

--------------------------------------------
URANIUM - ACTION ALERT

Spot Uranium 56.50. Uranium swung from the June 13, 2007 high of 154.95 down to 40.00 and recently backup to 73.00 until the Japanese earthquake. We then nosedived to 52.00, recovered back to 62.5 and now we're at 58.00. I think I need Dramamine. Nothing has changed regarding the need for nuclear power. The only change is a short-term emotional response. Fossil fuels will only last so long and nuclear power is infinite.

--------------------------------------------
BONDS - ACTION ALERT-

Treasuries rose on Friday as traders looked for safety amid a falling stock market and concerns that Greece may restructure its debt. The long bond future gained 20/32 to 124 14/32.

The Federal Reserve Bank of New York bought $6.94 billion of Treasury debt on Friday as part of a program that is the centerpiece of the Fed's loose monetary policy. Dealers offered the Fed $16.65 billion in notes maturing from 2013 through 2015.

--------------------------------------------
CRUDE OIL - ACTION ALERT -

Oil rallied despite the rising Dollar as traders instead focused on the rising Mississippi River that threatens to disrupt refinery production. Crude oil gained 0.68 to 99.65. Technicals are negative here for the same reason as Gold and Silver turned negative, but Crude managed to hold support in the 94-95 range last week, so a bounce cannot be discounted. Overall trend turned negative with potential now into the mid-80s during the summer months. Crude oil hit a 31-month high of 114.83 on May 2 and hit a new bear market low of 32.70 on January 20, 2008. Recall, I predicted a rally back to $70.00 when Crude Oil was trading in the high 30s. Previous to that I had predicted the decline to $40 when

June gasoline added 1 cent to $3.07 a gallon. It traded as high as $3.14 a gallon earlier.

June heating oil added 3 cents, or 1%, to settle at $2.94 a gallon.

June natural gas rose 5 cents, or 1.2%, to $4.25 per million British thermal units.

--------------------------------------------
US DOLLAR - ACTION ALERT -

The US Dollar Index rallied to a six-week high after good US economic news and growing concerns about Portugal and Greece. The US Dollar Index rose 0.517 to 75.757.

The U.S. Dollar Index ETF (UUP) has posted positive technical signals over the past couple of weeks, so though a big-picture bear, I'm giving the upside the benefit of the doubt. The US Dollar hit a new 14-month high of 88.708 on June 7, 2010 and recently hit a 33-month low of 72.696 on May 4. I believe we're overall headed back to the March 18, 2008 low of 70.698 and will see 66.00 or much lower in the next couple of years. In a sense the U.S. Dollar is terminal, though it is often traded as a temporary hedge or refuge due to any number of economic or geo-political problems.

The U.S. monetary authorities intervened in the foreign exchange markets to prop up the U.S. dollar against the Japanese yen, buying up $1 billion in greenbacks, on March 18, the Federal Reserve Bank of New York said Friday in its quarterly report to the Congress. The action was part of a coordinated G-7 intervention and was carried out in conjunction with officials from Japan, the European Union, Canada and the United Kingdom.


Restructuring Greece's debt is too risky and may have a negative impact on the euro-zone region as a whole without resolving any of the underlying issues, a senior European Central Bank official said Friday. "The notion that one could solve a budget crisis by simple debt reduction is an illusion," Juergen Stark, a member of the ECB Executive Board, said in a speech at an award ceremony in Aachen, Germany. Stark noted that debt restructuring will trigger more uncertainties and lead to slower economic growth, forcing the government to borrow more heavily, according to a translated transcript of the speech. Stark also dismissed concerns that Greece was insolvent and stressed the importance of consistent implementation of structural reform.

The European Commission, International Monetary Fund and Germany are backing a debt extension for Greece while the Europeaan Central Bank and France, both holders of Greek debt, are opposing the move.

The European Commission warned that the Greek economy will likely contract more than previously thought and as Ewald Nowotny, a member of the European Central Bank's governing council, reportedly said Athens hasn't yet met the terms of its rescue package.

Standard & Poor's Ratings Services said Friday that most Portuguese banks will likely need to take "decisive action" to meet new capital requirements.

Euro-zone gross domestic product expanded by a stronger-than-expected 0.8% in the first quarter of 2011 compared to the previous three months and grew by 2.5% compared to the same period last year. Economists had forecast quarterly growth of 0.6% and a 2.2% annual gain, but a stronger figure was anticipated following the release of robust national data, particularly from Germany and France.

The Euro fell 0.91% against the Dollar.

--------------------------------------------
ECONOMIC NEWS:

The prices that American consumers paid for goods and services rose 0.4% in April, with higher gasoline costs accounting for more than half the increase. Economists expected the consumer-price index to increase 0.4% in April. Consumer prices have jumped an unadjusted 3.2% over the past year, the largest 12-month increase since October 2008. As recently as November, the 12-month increase was 1.1%. Surging oil prices accounted for the bulk of the CPI increase, as the energy index jumped 2.2% last month. Energy prices have leaped 19% - and gas has surged 33% - over the past 12 months. Stripping out food and energy, the so-called core rate of consumer-price inflation rose 0.2% - matching forecasts.

The University of Michigan-Thomson Reuters preliminary consumer sentiment index climbed to a reading of 72.4 from a reading of 69.8 in April. Economists expected a 71.0 reading. The gauge hasn't been above 100 since Jan. 2004 and was at 76.1 on the eve of the last recession.

--------------------------------------------
CORPORATE NEWS:

Nvidia said excluding one-time items, it earned 27 cents a share on revenue of $962 million for the first quarter. Analysts had forecast 19 cents a share in earnings on $948 million in revenue. On a net basis, Nvidia made $135.2 million, or 22 cents a share. In the year-ago period, the company earned $137.6 million, or 23 cents a share, on $1 billion in sales. NVDA declined 10.93%.

Nordstrom's earnings were $145 million, or 65 cents a share, on revenue of $2.23 billion, compared with $116 million, or 52 cents a share, on $1.99 billion in sales. Nordstrom said its results included charges of 4 cents a share related to its acquisition of HauteLook, which was completed during the quarter. Analysts expected earnings of 67 cents a share on sales of $2.25 million. Nordstrom also said its board has authorized a stock-buyback plan of up to $750 million worth of the company's common stock. JWN fell 3.13%.

Yahoo said that the transfer of control of an online payment unit of China-based Alibaba Group, in which Yahoo holds a roughly 39% stake, occurred without its knowledge. YHOO dropped 3.61%.

Dillard's said its net income rose to $76.7 million, or $1.31 a share, from $48.8 million, or 68 cents a share, in the year-ago period. The number of shares outstanding decreased to 58.5 million from 72.3 million. The retailer said sales in the recent quarter was $1.47 billion, compared to $1.45 billion a year ago. Analysts were looking for earnings of $56 million, on average, with sales of $1.46 billion. DDS rallied 15.25%.

CA reported fiscal fourth-quarter results that fell short of analysts' forecasts. CA said that for its fourth quarter it earned $188 million, or 37 cents a share, on revenue of $1.13 billion. Excluding one-time items, CA would have earned 48 cents a share, while analysts had forecast the company to earn 50 cents a share. CA also said it plans on selling its Internet security business to venture capital firm Updata Partners. CA lost 8.62%.

Goldman Sachs raised its rating on Dean Foods to buy from neutral. Analyst Judy Hong cited the potential for improving margins and a strengthening balance sheet. DF jumped 9.20%. The stock has now surged 52% since the beginning of the year.

Citigroup reinstated the company's quarterly dividend of a penny a share. The dividend will be paid on June 17 to shareholders of record on May 27. Citi had announced in March that it will restore dividends following a 1-for-10 reverse stock split on May 6. C was down 2.10%.

--------------------------------------------
Canadian TSX, TSX Venture and Canadian Dollar Commentary for our Canadian clients updated for Monday, May 16:

The Canadian market held up much better than the US market, benefiting from a weak Canadian Dollar and rising oil prices. The TSX fell 12.26 or 0.09% to 13377.16, its lowest close since January, but as I warned a break under 13,237.93 will trigger a further decline toward 12,600 and possibly lower later. This is a market you need to be short on a healthy technical rally (should we get one).

Power Corp. of Canada said it earned $216 million attributable to participating shareholders or 47 cents per diluted share for the quarter ended March 31 compared with $165 million or 36 cents per diluted share a year ago. Revenue totaled $7.04 billion, down from $9.01 billion and its shares rose six cents to $28.36.

TMX Group Inc., operator of the Toronto Stock Exchange, reported that profits rose 13% in the first quarter to $64.3 million on stronger trading volumes. The company is in the midst of an attempted merger with the London Stock Exchange Group and its shares ticked 75 cents higher to $41.75.

Labrador Iron Ore Royalty Corp. more than doubled its first-quarter profit to $38.9 million, as its revenue increased 84% over the comparable period of 2010. Its units rose 36 cents to $70.26.

Enerplus Corp. shares gained seven cents to $29.21 reported net profit of $29.5 million in the first quarter, reversing a much bigger loss in the same quarter of 2010. The Calgary-based oil and gas producer, with properties in Western Canada and parts of the United States, said the earnings compared with last year's loss of $184 million.

Energy 321.00 -1.13 (-0.35%)
Financials 195.25 -0.13 (-0.07%)
Health Care 60.09 -0.46 (-0.76%)
Industrials 116.82 -0.18 (-0.15%)
Info Tech 32.80 -0.01 (-0.03%)
Metals & Mining 1,365.43 -1.07 (-0.08%)
Telecom 96.72 -0.02 (-0.02%)
Utilities 225.56 0.56 (0.25%)

Resistance 13,690, 14,089, 14,330, 14,715, 15,000, 15,600. Support is 13,237, 13,139, 13,000, 12,850, 12,600, 12,501, 12,200, 12,055, 11,750, 11,480, 11,380, 11,065, 10,990, 10,800, 10,600, 10,400, 10,384, 9500, 9300, 9140.
--------------------------------------------
CANADIAN TSX Venture:

The Venture fell more sharply on Friday as gold declined and small caps underperformed. The TSX Venture lost 11.77 or 0.57% to finish at 2038.22, its worst close since November. The TSX Venture has already broken under key support at 2053 and it's next stop is the 1700 area.

Resistance: 2127, 2254, 2291, 2400, 2465, 2535, 2575. Support: 2033, 2070, 2208, 1995, 1974, 1902, 1887, 1806, 1788.
--------------------------------------------
THE CANADIAN DOLLAR (using the FXC Exchange Traded Fund):

The Canadian Dollar fell as traders looked for safety, though it did manage a small gain against the Euro. FXC declined 0.73 to 102.62. The Canadian Dollar was down 0.63% against the US Dollar to a six-week low, but rose 0.27% against the Euro.

Resistance is 105.25, 108.00, 110.00, 113.00. Support is 102.37, 101.20, 99.77, 95.96, 93.20, 92.50 91.82, 91.00, 89.75, 87.50 and 85.18.
--------------------------------------------
DAILY VR LIST:

Editor's note: The Daily VR List here is abbreviated with the full list only available to Platinum subscribers by clicking on 'Current VR List' on the Home Page of VRtrader.com. Canadian shares are listed at the top of each section with the title: '...CANADIAN STOCKS...'.

Metastock has announced the release of my Leibovit Volume Reversal 'Add-Ons':

http://tinyurl.com/469bbzh

Whether you're a trader or money manager, the use of my Add-on will be an invaluable and unique complement to your regimen. It is
30 years in the making, so don't miss it!
--------------------------------------------
VOLUME REVERSALS FOR FRIDAY, MAY 13, 2011:
--------------------------------------------
POSITIVE VRs:
--------------------------------------------

.. CANADIAN STOCKS ... Canadian Stocks

AER.UN GROUPE-AEROPLAN, INC.
CDH CORRIDOR RESOURCES IN
CS.UN CAPSTONE MINING CO
ESI.UN ENSIGN ENERGY SERVICES
FEL.UN FAIRBORNE ENERGY LTS
HBM.UN HUDBAY MINERALS INC
HR.UN H&R REAL ESTATE INVES
IVN.UN IVANHOE MINES
LMA LA MANCHA RESOURCES I
MRU.A METRO INC CLASS A SUB CL A
SAS ST ANDREW GOLDFIELDS
SLF.UN SUNLIFE FINANCIAL SERTVICES
TCM.UN THOMPSON CREEK METALS CO
TH THERATECHNOLOGIES INC
XSP ISHARES CDN S&P 500 H

--------------------------------------------
U.S. STOCKS:
--------------------------------------------

AEROSPACE/DEFENSE Aerospace/Defense Major Dive

BA Boeing Co

AEROSPACE/DEFENSE Aerospace/Defense Products & S

DCO Ducommun Inc

AUTOMOTIVE Auto Manufacturers - Major

SORL SORL Auto Parts Inc
TSLA Tesla Motors Inc

AUTOMOTIVE Auto Parts

WMCO Williams Controls Inc

BANKING Foreign Regional Banks

CIB Bancolombia Sa
FBP.B First BanCorp-Preferred

BANKING Money Center Banks

HBA.H HSBC USA Inc-Preferred
WFC Wells Fargo & Co New

BANKING Regional - Mid-Atlantic Banks

BNCN BNC Bancorp NC
CFFI C&F Financial Corp

BANKING Regional - Midwest Banks

FFNM First Federal of Northern Mich
IFC Irwin Financial Corp

BANKING Regional - Northeast Banks

HUVL Hudson Valley Hldgs Corp
NBN Northeast Bancorp

BANKING Regional - Pacific Banks

DNBF Dnb Finl Corp
FIBK First Interstate Bancsystems

BANKING Regional - Southwest Banks

EFSC Enterprise Financial Services
WTBA West Bancorporation Inc

BANKING Savings & Loans

BOFI BofI Holding Inc
CAFI Camco Financial Corp

CHEMICALS Chemicals - Major Diversified

TPCG TPC Group Inc

CHEMICALS Specialty Chemicals

FUL H.b. Fuller Co
GFRE Gulf Resources Inc

CHEMICALS Synthetics

AWC Alumina Limited
CE Celanese

COMPUTER HARDWARE Computer Based Systems

TLVT Telvent Git Sa Ord

COMPUTER HARDWARE Computer Peripherals

IN Intermec Inc
WAVX Wave Systems Corp Cl A

COMPUTER HARDWARE Data Storage Devices

HILL Dot Hill Systems Corp
IMN Imation Corp

COMPUTER HARDWARE Networking & Communication Dev

DGII Digi International Inc
EZCH Lanoptics Ltd

COMPUTER SOFTWARE & SERVICES Application Software

ATEA Astea International Inc
FFIV F5 Networks Inc

COMPUTER SOFTWARE & SERVICES Business Software & Services

DTLK Datalink Corporation
IHS IHS Inc

COMPUTER SOFTWARE & SERVICES Information Technology Service

CIS Camelot Information Systems In
CTGX Computer Task Group Inc

COMPUTER SOFTWARE & SERVICES Security Software & Services

IL Intralinks Holdings` Inc.

COMPUTER SOFTWARE & SERVICES Technical & System Software

CDNS Cadence Design Systems
PNS Pinnacle Data Sys Inc

CONGLOMERATES Conglomerates

CR Crane Co
HSC Harsco Corp

CONSUMER DURABLES Business Equipment

KNL Knoll Inc
NTE Nam Tai Electronics Inc

CONSUMER DURABLES Electronic Equipment

SRSL Srs Labs Inc

CONSUMER DURABLES Home Furnishings & Fixtures

HOFT Hooker Furniture

CONSUMER DURABLES Sporting Goods

NLS Nautilus Group Inc (the)

CONSUMER DURABLES Toys & Games

RUS Russ Berrie & Co Inc

CONSUMER NON-DURABLES Cleaning Products

DAR Darling International
ECL Ecolab Inc

CONSUMER NON-DURABLES Office Supplies

ATX A.T. Cross Co

CONSUMER NON-DURABLES Personal Products

CAW Cca Industries Inc

CONSUMER NON-DURABLES Rubber & Plastics

AEPI Aep Industries Inc
SHLM A.Schulman Inc

CONSUMER NON-DURABLES Textile - Apparel Clothing

APP Endeavor Acquisition Corp
OXM Oxford Industries Inc

DIVERSIFIED SERVICES Business/Management Services

ABM Abm Industries Inc
ATHN Athenahealth

DIVERSIFIED SERVICES Education & Training Services

ATAI Ata Inc.

DIVERSIFIED SERVICES Personal Services

CPY Cpi Corp
WOOF Vca Antech

DIVERSIFIED SERVICES Rental & Leasing Services

R Ryder Systems Inc

DIVERSIFIED SERVICES Research Services

ICLR Icon Plc Ads
REFR Research Frontiers Inc

DIVERSIFIED SERVICES Security & Protection Services

MOC Command Security Corp

DIVERSIFIED SERVICES Staffing & Outsourcing Service

HHGP Hudson Highland Grp Inc W/i
SFN Spherion Corporation

DRUGS Biotechnology

ABIO Arca Biopharma Incorporated
CDXS Codexis Inc

DRUGS Diagnostic Substances

AKRX Akorn Inc
THLD Threshold Pharmaceuticals

DRUGS Drug Delivery

ELN Elan Corp Plc
FLML Flamel Technologies Sa

DRUGS Drug Manufacturers - Major

ACRX AcelRx Pharmaceuticals` Inc
ZGNX Zogenix Inc.

DRUGS Drug Manufacturers - Other

AMLN Amylin Pharmaceuticals
CRME Cardiome Pharma Corp

DRUGS Drug Related Products

PRGO Perrigo Co

DRUGS Drugs - Generic

CPRX Catalyst Pharmaceuticals

ELECTRONICS Diversified Electronics

BELFB Bel Fuse Inc Cl B
SIMO Silicon Motion Technology Corp

ELECTRONICS Printed Circuit Boards

DDIC Ddi Corp
IEC Iec Electronics Corp

ELECTRONICS Scientific & Technical Instrum

A Agilent Technologies Inc
AFFX Affymetrix Inc

ELECTRONICS Semiconductor - Broad Line

ADI Analog Devices Inc
TXN Texas Instruments Inc

ELECTRONICS Semiconductor - Integrated Cir

OVTI Omnivision Technologies
RFMD Rf Micro Devices Inc

ELECTRONICS Semiconductor - Specialized

ALTR Altera Corp
CRUS Cirrus Logic Inc

ELECTRONICS Semiconductor Equipment & Mate

MKSI Mks Instruments Inc
TSRA Tessera Technologies Inc

ENERGY Independent Oil & Gas

CXPO Crimson Exploratrion Inc
EPM Evolution Petroleum Corp

ENERGY Oil & Gas Drilling & Explorati

ATLS Atlas America Inc
ATW Atwood Oceanics Inc

ENERGY Oil & Gas Equipment & Services

CAM Cooper Cameron Corp
EXXI Energy XXI (Bermuda) Limited

ENERGY Oil & Gas Pipelines

APL Atlas Pipeline Prtnrs Lp
EEP Enbridge Energy Partners Lp

ENERGY Oil & Gas Refining & Marketing

ASH Ashland Inc
CHKM Chesapeake Midstream Partners`

FINANCIAL SERVICES Asset Management

TROW T. Rowe Price Associates

FINANCIAL SERVICES Closed End Fund - Debt

AGZ iShares Barclays Agency Bond
BAF Blackrock Fl Ins Muni Inc Trus

FINANCIAL SERVICES Closed End Fund - Equity

ADE ELEMENTS Linked to the Austral
AXEN iShares MSCI ACWI US Energy In

FINANCIAL SERVICES Closed End Fund - Foreign

CHIQ Global X China Consumer ETF
DGF Delaware Inv Glbl Div & Inc Fd

FINANCIAL SERVICES Credit Services

AXP American Express Co
CPSS Consumer Portfolio Svcs

FINANCIAL SERVICES Diversified Investments

COBK Colonial Bankshares Inc
GJO Synthetic Fixed-Income Securit

FOOD & BEVERAGE Beverages - Wineries & Distill

STZ Constellation Brands Inc

FOOD & BEVERAGE Food - Major Diversified

YUII Yuhe International Inc

HEALTH SERVICES Health Care Plans

AET Aetna Inc New
CVH Coventry Health Care Inc

HEALTH SERVICES Hospitals

AMSG Amsurg Corp Common
HCA Hca Inc

HEALTH SERVICES Long-Term Care Facilities

ADK AdCare Health Systems Inc
GBR Cabeltel Intl Corp

HEALTH SERVICES Medical Appliances & Equipment

APT Alpha Pro Tech Ltd
BSDM BSD Medical Corp

HEALTH SERVICES Medical Instruments & Supplies

ABMD Abiomed Inc
ATRI Atrion Corporation

HEALTH SERVICES Medical Laboratories & Researc

ARRY Array Biopharma Inc
ASTM Aastrom Biosciences Inc

HEALTH SERVICES Specialized Health Services

HWAY Healthways Inc

INSURANCE Accident & Health Insurance

AIZ Assurant Inc
RE Everest Re Group Ltd.

INSURANCE Insurance Brokers

BRO Brown & Brown
EHTH Ehealth Inc

INSURANCE Life Insurance

AGO Assured Guaranty Ltd
EPAX Ambassadors Group Inc

INSURANCE Property & Casualty Insurance

CNA Cna Financial Corp
FRF Fortegra Financial Corporation

INSURANCE Surety & Title Insurance

ORI Old Republic Internat
TRH Transatlantic Hldgs

INTERNET Internet Information Providers

AOL AOL Incorporated
EXPE Expedia Inc

INTERNET Internet Software & Services

ABTL Autobytel Inc
BVSN Broadvision Inc

LEISURE Gaming Activities

PNK Pinnacle Entertainment

LEISURE Resorts & Casinos

MGM MGM MIRAGE Inc
MPEL Melco PBL Entertainment Ltd

LEISURE Restaurants

FRN Friendly Ice Cream Corp
GTIM Good Times Restaurant

MANUFACTURING Diversified Machinery

IR Ingersoll-rand Ltd Cl A
ITW Illinois Tool Works Inc

MANUFACTURING Industrial Electrical Equipmen

FELE Franklin Electric Co Inc
GB Greatbatch Inc

MANUFACTURING Industrial Equipment & Compone

CIR Circor International Inc
MAS Masco Corp

MANUFACTURING Machine Tools & Accessories

RBC Regal-Beloit Corp
TKR Timken Co

MANUFACTURING Metal Fabrication

MATW Matthews Internat Cp Cla
MINI Mobile Mini Inc

MANUFACTURING Pollution & Treatment Controls

DCI Donaldson Co Inc

MATERIALS & CONSTRUCTION Cement

JHX James Hardie Industries Nv

MATERIALS & CONSTRUCTION General Building Materials

MCC Mestek Inc

MATERIALS & CONSTRUCTION General Contractors

USHS U.S. Home Systems Inc

MATERIALS & CONSTRUCTION Residential Construction

AVTR Avatar Holdings Inc
MHO M/i Homes Inc

MATERIALS & CONSTRUCTION Waste Management

ENV Cet Services Inc
TRIT Tri-Tech Holdings Inc

MEDIA Broadcasting - Radio

BBGI Beasley Broadcast Grp A
EMMS Emmis Communication Cl A

MEDIA Broadcasting - TV

NXST Nexstar Broadcasting Group

MEDIA Publishing - Periodicals/News

LEE Lee Enterprises Inc
PSO Pearson Plc Ads

METALS & MINING Aluminum

ACH Aluminum Corp China

METALS & MINING Copper

PD Phelps Dodge Corp

METALS & MINING Gold

NSU Nevsun Resources Ltd
RIC Richmont Mines Inc

METALS & MINING Industrial Metals & Minerals

USEG U.S. Energy Corp Wyo

METALS & MINING Steel & Iron

FRD Friedman Industries Inc
NX Quanex Corp

REAL ESTATE Mortgage Investment

DRL Doral Financial Corp
HTS Hatteras Financial Corp

REAL ESTATE Property Management/Developmen

BXG Bluegreen Corp
MAYS J.W. Mays Inc

REAL ESTATE REIT - Diversified/Industrial

AMB.M AMB Property Corp Preferred
ARH.A Arch Capital Group-Preferred

REAL ESTATE REIT - Hotel/Motel

HT Hersha Hospitality Trust

REAL ESTATE REIT - Office

ARE Alexandria Real Est Eqts
LSE Capital Lease Fundings Inc

REAL ESTATE REIT - Residential

AVB Avalonbay Communities
EQR Equity Residential

REAL ESTATE REIT - Retail

AKR Acadia Realty Trust
HIW.B Highwoods Properties Inc-Prefe

RETAIL Auto Parts Stores

PRTS U.S. Auto Parts Network

RETAIL Department Stores

DDS Dillard's Inc
SKS Saks Holdings Inc

RETAIL Electronics Stores

BBY Best Buy Co Inc
RSH Radioshack Corp

RETAIL Home Furnishing Stores

WSM Williams Sonoma Inc

SPECIALTY RETAIL Apparel Stores

CHS Chico's Fas Inc

SPECIALTY RETAIL Auto Dealerships

ABG Asbury Automotive
PAG Penske Automotive

SPECIALTY RETAIL Jewelry Stores

TIF Tiffany & Co

SPECIALTY RETAIL Music & Video Stores

TWMC Trans World Entertain Cp

SPECIALTY RETAIL Specialty Retail

BAMM Books-A-Million Inc

TELECOMMUNICATIONS Communication Equipment

AVNW Harris Stratex Network
CALX Calix Inc

TELECOMMUNICATIONS Diversified Communication Serv

CNTF China Techfaith Wireless Commu
RNET RigNet Inc

TELECOMMUNICATIONS Telecom Services - Domestic

HTCO Hickory Tech Corp

TOBACCO Cigarettes

PM Philip Morris International

TOBACCO Tobacco Products

UST Ust Inc

TRANSPORTATION Air Delivery & Freight Service

UPS United Parcel Service B

TRANSPORTATION Air Services

AAWW Atlas Air Worldwide Holdings I
PAC Grupo Aeroportuario Pac S.A.B

TRANSPORTATION Regional Airlines

LFL Lan Chile Sa
SKYW Skywest Inc

TRANSPORTATION Shipping

DSX Diana Shipping Inc
PRGN Paragon Shipping Inc

TRANSPORTATION Trucking

FWRD Forward Air Corporation
YRCW YRC Worldwide Inc

UTILITIES Diversified Utilities

ED.C Consolidated Edison Inc-Prefer
MDU Mdu Resources Group Inc

UTILITIES Electric Utilities

ALP.O Alabama Power Company
BCON Beacon Power Corp

UTILITIES Gas Utilities

NJR New Jersey Resources Cp

UTILITIES Water Utilities

YORW York Water Corp

WHOLESALE Electronics Wholesale

ITRN Ituran Location and Control Lt
TESS Tessco Technologies Inc

WHOLESALE Industrial Equipment Wholesale

AIT Applied Industrial Tech
MSM Msc Industrial Direct A

WHOLESALE Wholesale

CAS A.M. Castle & Company
CEDC Central European Dist


--------------------------------------------
NEGATIVE VRs
--------------------------------------------

.. CANADIAN STOCKS ... Canadian Stocks

**** NONE ****

--------------------------------------------
U.S. STOCKS:
--------------------------------------------

AEROSPACE/DEFENSE Aerospace/Defense Major Dive

GD General Dynamics Corp

AEROSPACE/DEFENSE Aerospace/Defense Products & S

ATK Alliant Techsystems Inc
ITA iShares DJ US Aerospace & Def

AUTOMOTIVE Trucks & Other Vehicles

NNN.C Navistar International Corp-Pr

BANKING Regional - Mid-Atlantic Banks

FWV First West Va Bancorp
SVBI Severn Bancorp Inc

BANKING Regional - Midwest Banks

TFSL TFS Financial Corp

BANKING Regional - Northeast Banks

CITZ Cfs Bancorp Inc
ESBK Elmira Savings Bank FSB

BANKING Regional - Pacific Banks

SIVB SVB Financial Group
WCBO West Coast Bancorp Ore

BANKING Regional - Southeast Banks

EVBS Easternnklin Bank N.a.
OZRK Bank Of The Ozarks Inc

BANKING Savings & Loans

CBNK Chicopee Bancorp Inc
CSBK Clifton Savings Bacorp

COMPUTER HARDWARE Data Storage Devices

DRAM Dataram Corp

COMPUTER HARDWARE Networking & Communication Dev

BBOX Black Box Corp
INPH Interphase Corp

COMPUTER SOFTWARE & SERVICES Application Software

AMAP Autonavi Holdings Limited
CA Computer Assoc Intl Inc

COMPUTER SOFTWARE & SERVICES Business Software & Services

DOX Amdocs Ltd

COMPUTER SOFTWARE & SERVICES Information & Delivery Service

DST Dst Systems Inc

COMPUTER SOFTWARE & SERVICES Information Technology Service

MNDO Mind C T I Ltd

COMPUTER SOFTWARE & SERVICES Security Software & Services

VDSI Vasco Data Security Intl

COMPUTER SOFTWARE & SERVICES Technical & System Software

PMTC Parametric Technology Cp
SPNS Sapiens Intl Corp Nv

CONSUMER DURABLES Electronic Equipment

PHG Koninklijke Philips Elec

CONSUMER DURABLES Housewares & Accessories

LANC Lancaster Colony Corp

CONSUMER DURABLES Photographic Equipment & Suppl

BTN Ballantyne Of Omaha Inc

CONSUMER NON-DURABLES Packaging & Containers

BMS Bemis Co Inc

CONSUMER NON-DURABLES Paper & Paper Products

RKT Rock-Tenn Co Cl A
SSCC Smurfit-Stone Container

CONSUMER NON-DURABLES Personal Products

FHCO Female Health Company
SUMR Summer Infant Incorporated

CONSUMER NON-DURABLES Rubber & Plastics

JAH Jarden Corp
SEH Spartech Corp

DIVERSIFIED SERVICES Business/Management Services

CGX Consolidated Graphics
DIET Ediets.com Inc

DIVERSIFIED SERVICES Consumer Services

MNRO Monro Muffler Brake Inc

DIVERSIFIED SERVICES Personal Services

PPD Pre-Paid Legal Svcs Inc

DIVERSIFIED SERVICES Staffing & Outsourcing Service

CCRN Cross Country Healthcare

DRUGS Biotechnology

BTX Biotime Inc

DRUGS Diagnostic Substances

IDXX Idexx Laboratories Inc

DRUGS Drug Manufacturers - Major

OMER Omeros Corporation

DRUGS Drug Manufacturers - Other

BIOD Biodel Inc
CEPH Cephalon Inc

DRUGS Drug Related Products

TBV Tiens Biotech Group USA Inc

ELECTRONICS Diversified Electronics

BELFA Bel Fuse Inc Cl A
WSCI Wsi Industries Inc

ELECTRONICS Scientific & Technical Instrum

FLDM Fluidigm Corporation
MOCO Mocon Inc

ELECTRONICS Semiconductor - Integrated Cir

PMCS Pmc-sierra Inc

ELECTRONICS Semiconductor - Memory Chips

ISSI Integrated Silicon Sol
NETL Netlogic Microsystems Inc

ELECTRONICS Semiconductor - Specialized

NVDA Nvidia Corporation
TRID Trident Microsystems Inc

ENERGY Independent Oil & Gas

PTF Petrofund Energy Trust
SNP China Petro & Chem Ads

ENERGY Oil & Gas Equipment & Services

DVR Cal Dive Intl Inc
GGS Global Geophysical Services

ENERGY Oil & Gas Pipelines

TZG Bear Stearns Dep Inc 7.125%

FINANCIAL SERVICES Closed End Fund - Debt

ADRA BLDRS Asia 50 ADR Index Fund E
AFB Alliance National Muni Inc Fun

FINANCIAL SERVICES Closed End Fund - Equity

AGA DB Agriculture Double Short ET
AWP Alpine Global Premier Properti

FINANCIAL SERVICES Closed End Fund - Foreign

SNF Spain Fund Inc
TKF Turkish Invest Fd

FINANCIAL SERVICES Credit Services

ADS Alliance Data
CACC Credit Acceptance Corp

FINANCIAL SERVICES Diversified Investments

AUTC Autochina Intl Ltd Ord Shs
DFR Deerfield Triarc Capital Corp

FINANCIAL SERVICES Investment Brokerage - Nationa

CLMS Calamos Asset Management

FOOD & BEVERAGE Dairy Products

SYUT Synutra International

FOOD & BEVERAGE Meat Products

PZA Insured National Muni Bond

FOOD & BEVERAGE Processed & Packaged Goods

OFI Overhill Farms Inc
RAH Ralcorp Holdings Inc

HEALTH SERVICES Home Health Care

FVE Five Star Quality Care Inc

HEALTH SERVICES Hospitals

CCM Concord Med Srv Hldg Ltd

HEALTH SERVICES Long-Term Care Facilities

ALC Assisted Living Concepts Inc.

HEALTH SERVICES Medical Appliances & Equipment

CNMD Conmed Corp
DYNT Dynatronics Corp

HEALTH SERVICES Medical Instruments & Supplies

AIS Antares Pharma Inc
SDIX Strategic Diagnostics

HEALTH SERVICES Specialized Health Services

CONM Conmed Healthcare Management I

INSURANCE Accident & Health Insurance

GTS Triple-S Management Corporatio

INSURANCE Life Insurance

GNW Genworth Financial

INSURANCE Property & Casualty Insurance

BWINA Baldwin & Lyons Inc Cl A
DGICB Donegal Group Inc Class B

INTERNET Internet Information Providers

BITA Bitauto Holdings Limited
INSP Infospace Incorporated

INTERNET Internet Software & Services

SQI SCiQuest` Inc
ZIXI Zix Corporation

LEISURE Gaming Activities

BYI Bally Technologies Inc
MNTG Mtr Gaming Group Inc

LEISURE Restaurants

BAGL Einstein Noah Restaurant Group
NATH Nathan's Famous Inc

LEISURE Sporting Activities

TRK Speedway Motorsports Inc

MANUFACTURING Diversified Machinery

WUHN Wuhan General Group Inc

MANUFACTURING Farm & Construction Machinery

ASTE Astec Industries

MANUFACTURING Industrial Electrical Equipmen

AETI American Electric Technology I

MANUFACTURING Metal Fabrication

GEG Gbl Power Inc

MANUFACTURING Small Tools & Accessories

CVR Chicago Rivet & Machine

MANUFACTURING Textile Manufacturing

HWG Hallwood Group Inc

MATERIALS & CONSTRUCTION General Building Materials

AAON Aaon Inc

MATERIALS & CONSTRUCTION General Contractors

IESC Integrated Electrical Services

MATERIALS & CONSTRUCTION Waste Management

GPRC Guanwei Recycling Corp

MEDIA Advertising Services

VCLK Valueclick Inc

MEDIA CATV Systems

TWC Time Warner Cable Inc

MEDIA Marketing Services

INUV Kowabunga Inc

MEDIA Movie Production

DWA Dreamworks Animation Skg

MEDIA Publishing - Periodicals/News

ENL Reed Elsevier Nv
SPRO Smartpros Ltd

METALS & MINING Industrial Metals & Minerals

RTI Rti Internat Metal Inc

REAL ESTATE Mortgage Investment

CMO.A Capstead Mortgage Corp-Preferr
CMO.B Capstead Mortgage Corp-Preferr

REAL ESTATE Property Management/Developmen

STRS Stratus Properties Inc

REAL ESTATE REIT - Diversified/Industrial

ABR Arbor Realty Trust Inc
DRE.J Duke Realty Corp-Preferred

REAL ESTATE REIT - Healthcare Facilities

HCP.E HCP Inc-Preferred
UHT Universal Health Realty Inc Tr

REAL ESTATE REIT - Hotel/Motel

SPPRO Supertel Hospitality Inc

REAL ESTATE REIT - Office

MPG Maguire Properties Inc
OFC.H Corporate Office Properties Tr

REAL ESTATE REIT - Residential

ARC Affordable Residential Comm
BRE.D BRE Properties Inc-Preferred

REAL ESTATE REIT - Retail

KIM.F Kimco Realty Corp-Preferred

RETAIL Department Stores

MAY May Department Stores Co

RETAIL Drug Stores

PETS Petmed Express Inc

RETAIL Grocery Stores

TFM The Fresh Market` Inc.

RETAIL Home Improvement Stores

HD Home Depot Inc

SPECIALTY RETAIL Apparel Stores

BODY Body Central Corp.
EXPR Express` Inc.

SPECIALTY RETAIL Jewelry Stores

DGSE Dgse Companies Inc

SPECIALTY RETAIL Specialty Retail

OSTK Overstock.com Inc

SPECIALTY RETAIL Sporting Goods Stores

WINA Winmark Corp

TELECOMMUNICATIONS Communication Equipment

ADTN Adtran Inc
ENWV Endwave Corporation

TELECOMMUNICATIONS Diversified Communication Serv

PCTI Pc-Tel Incorporated
RRST RRsat Glo Comm Network Ltd Ord

TELECOMMUNICATIONS Wireless Communications

GRRF China Grentech Corp Limited AD
TKC Turkcell Iletisim Hzmt As New

TRANSPORTATION Regional Airlines

LUV Southwest Airlines Co

TRANSPORTATION Shipping

GASS StealthGas Inc

TRANSPORTATION Trucking

XPO Express-1 Expedited Solutions

UTILITIES Diversified Utilities

CMS.B Consumers Energy Co-Preferred
ED.A Consolidated Edison Inc-Prefer

UTILITIES Electric Utilities

ELP Companhia Paranaense De
FE Firstenergy Corp

UTILITIES Foreign Utilities

CPL Cpfl Energia Sa
SBS Companhia De Saneamento B

UTILITIES Gas Utilities

EGAS Gas Natural Inc
RGCO Rgc Resources Inc

WHOLESALE Auto Parts Wholesale

CALI China Auto Logistics Inc

WHOLESALE Drugs Wholesale

NUS Nu Skin Enterprises

WHOLESALE Wholesale

MUSA Metals Usa Inc

--------------------------------------------
Do you want to find trades both short-term and intermediate term using my proprietary Leibovit Volume Reversal?

Introducing the Mark Leibovit
Volume Reversal Toolkit
Metastock Add-On

Get it FREE for 30 Days

http://tinyurl.com/3lurf2x

http://www.equis.com...y/?3PC-ADD-VRIS

http://www.metastock...al-toolkit.aspx

Whether you're a trader or money manager, the use of my plug-in will be an invaluable and unique complement to your regimen.
It is 30 years in the making, so don't miss it!
--------------------------------------------
My book, 'The Trader's Book of Volume'(published by McGraw-Hill) is now available.

Here is the link to Traders Press:

http://www.invest-store.com/vrtrader/

Here is the link to Amazon.com:

http://tinyurl.com/3wms9q2

In conjunction with Trader's Library, come visit the VR BOOKSTORE where you can find Bestsellers, Just Out New Releases, Videos and Bargain Buys covering the gamut of investing in the stock market! Come shop today!

--------------------------------------------

Mark Leibovit may be seen or heard on the following programs:

Ira Epstein TV - http://iraepstein.li...-interview.html. Interviews usually occur on Tuesday or Wednesday. Here is the April 27 link:

http://www.iraepstei...-interview.html

Nightly Business Report (PBS Television) semi-annual interviews Next appearance tentatively scheduled approximately October, 2011. Check NBR.com for details. Here is the April 21 interview:

http://tinyurl.com/3hdhdvc

BNN (Business News Network) - Check out my April 28 BNN interview:

http://watch.bnn.ca/#clip457978

--------------------------------------------
Looking to visit beautiful Sedona, Arizona?

Check out:

http://www.vrbo.com/111801

You can tell your friends you stayed at Mark Leibovit's ranch estate!

Location: Sedona, Canyon Country & Northeast, Arizona, USA (100 miles to Phoenix - 2 1/2 hours to Sky Harbor Airport)
Accommodations: House, 4 Bedrooms + Detached Unit, 4 Baths (Sleeps 10-12)

--------------------------------------------
PLEASE NOTE: E-Mails should only be sent to
mark.vrtrader@gmail.com or vrcustomerservice@gmail.com and NOT to my old email address mark@vrsurvey.com. If you do, those emails may not be seen.
--------------------------------------------
Breaking from Moneynews.com

Investors Shifting to Cash From Commodities

Global investors have tempered their optimism about the U.S. and world economies and plan to put more of their money in cash and less in commodities over the next six months, a Bloomberg survey found.

Almost 1 in 3 of those questioned say they will hold more cash, while 30 percent intend to reduce investments in commodities, according to a quarterly Bloomberg Global Poll of 1,263 investors, analysts and traders who are Bloomberg subscribers. Both results were the highest since the survey began asking the question last June.

A plurality -- 40 percent -- expects oil prices to fall in the next six months, the first time respondents felt that way since the inception of this poll in July 2009.

The "big stimulus game is over," said Bill O'Connor, a poll participant and founder of Sagg Main Capital hedge fund in New York, in explaining why he's moving money into cash as the Federal Reserve winds up its bond-buying program and U.S. lawmakers look to cut the budget.

Fewer than 4 in 10 of those surveyed described the U.S. and global economies as improving, down from about 50 percent who felt that way back in January. U.S. economic growth slowed to 1.8 percent in the first quarter of this year, down from 3.1 percent in the final three months of 2010. Home prices fell in more than three-quarters of U.S. cities in the first quarter of 2011, according to the National Association of Realtors.

The poll, conducted May 9-10, also found that investors' ardor for stocks is cooling. Two in 5 intend to increase their exposure to equity markets over the next six months, down from almost 3 in 5 in the last poll in January. U.S. investors in particular have become less keen on stocks: Just 37 percent say they are increasing their exposure, down from 57 percent in the previous poll.

The survey was taken after a turbulent week in the markets that saw commodity prices suffer their biggest decline in more than two years. The Standard & Poor's GSCI Total Return Index of 24 commodities dropped 11 percent last week, led by a 27 percent collapse in silver prices. The gauge fell 3.9 percent yesterday and another 0.9 percent by 9:29 a.m. in London today. Crude oil fell below $100 a barrel in New York trading yesterday.

More than half of those surveyed expect silver prices to fall further in the next six months. Sixteen percent identified commodities as one of the markets that will suffer the worst returns over the next year, more than double the proportion that said that in January.

Commodities have "become a bubble, with a lot of non- specialist investors," said Ken Welby, a salesman at KNG Securities LLP in London and a poll participant. "Demand cannot cope with the price rises that we have seen."

While the attractiveness of the U.S. is ebbing, it still comes out on top when survey participants are asked to name the best countries to invest in. Thirty-one percent cited the U.S. as among the markets that will offer the best returns over the next year, down from 37 percent in January.

U.S. investors are more enthusiastic about their country than those in either Europe or Asia. Almost 2 in 5 Americans picked the U.S. as a top market. Only one-third of Asians and less than a quarter of Europeans felt that way.

Brazil and China trailed the U.S. in the poll, with 1 in 4 investors citing those countries as good places to put money. Fifteen percent singled out Japan, almost double the amount that did so in January, before the country suffered a devastating earthquake and tsunami that left 24,837 dead or missing as of May 7 and cratered its stock market.

"We have confidence that the Japanese are addressing the issues, and that earnings will not disappoint the market," Welby said. "I see it as a relative-value trade."

More than 2 in 5 investors see Japan's Nikkei 225 Stock Average rising over the next six months. That compares with about 1 in 4 who said that back in January.

The Nikkei average yesterday rose 45.50, or 0.5 percent, to 9,864.26. That's down from 10,254.43 on March 11, the day of the earthquake. The gauge dropped 1.5 percent today.

Investors have turned less optimistic about other stock markets. Less than half see the Standard & Poor's 500 Index rising during the next six months; in January, almost two-thirds forecast an advance. About one-quarter in the latest poll say they expect the stock gauge to fall. The S&P 500 fell 1.1 percent to 1,342.08 yesterday in New York.

"U.S. stocks will have a 5 to 8 percent decline in the coming months," said Joe Larizza, a director at Vining Sparks IBG in Memphis, Tennessee, and a poll participant. "I see energy and food prices causing a drag on the economy."

Global investors still consider equities to be among the most lucrative places for their money, with more than 1 in 3 forecasting that stocks will provide superior returns over the next year.

Asian investors are the most confident in their regional economy, with 42 percent saying it is improving, compared with 31 percent of U.S. poll respondents and 26 percent of Europeans who feel that way about their areas.

Half of global investors forecast that the MSCI Asia Pacific Index will rise over the next six months, down from 58 percent in January. The index fell 1.6 percent to 136.23 today.

The European Union was seen by the most respondents as one of the markets offering the worst returns over the next year, with 38 percent singling it out, little changed from January. The turmoil-racked Middle East ranked second worst, with about 1 in 4 investors describing it that way, up from less than 1 in 10 in the previous poll.

About 1 in 3 investors see the Euro Stoxx 50 Index, a measure of shares in nations using the common currency, and the FTSE 100 Index rising in the next six months. That compares with more than 40 percent who forecast advances in January.

The Euro Stoxx 50 Index fell 1.3 percent to 2,903.39 today. The U.K.'s FTSE 100 Index dropped 1 percent to 5,916.64.

More than half of those surveyed forecast that the dollar will strengthen against the euro over the next three months. The euro was little changed at $1.4202 today.

The quarterly Bloomberg Global Poll of investors, traders and analysts was conducted by Selzer & Co., a Des Moines, Iowa-based firm. It has a margin of error of plus or minus 2.8 percentage points.

--------------------------------------------

Treasury to tap pensions to help fund government

The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.

Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling - a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government's bills.

Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won't have an impact on retirees because the Treasury is legally required to reimburse the program.

The maneuver buys Geithner only a few months of time. If Congress does not vote to raise the debt limit by Aug. 2, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services including the mailing of Social Security checks.

Many congressional Republicans, however, have been skeptical that breaching the Aug. 2 deadline would be as catastrophic as Geithner suggests. What's more, Republican leaders are insisting that Congress cut spending by as much as the Obama administration wants to raise the debt limit, without any new taxes. Obama is proposing spending cuts and tax increases to rein in the debt.

"Everything should be on the table, except raising taxes," House Speaker John Boehner (R-Ohio) said on CBS's "Face the Nation." "Because raising taxes will hurt our economy and hurt our ability to create jobs in our country."

The Obama administration warns that it is dangerous to link the debt limit to other proposals. But Boehner is demanding that Congress use the debt vote as a way to bring down government spending.

"I'm ready to cut the deal today," Boehner said. "We don't have to wait until the 11th hour. But I am not going to walk away from this moment. We have a moment, a window of opportunity to act, because if we don't act, the markets are going to act for us."

Geithner's plan to tap federal retiree programs as a temporary means to avoid a government default comes as the Obama administration has shown growing interest in altering those programs to curb the debt in the long run.

Administration officials have expressed interest in raising the amount that federal employees contribute to their pensions, sources told The Washington Post.

The Republicans have suggested that the civilian workforce contribute more to its retirement in the future, effectively trimming 5 percent from salaries. The administration has not been willing to go that far in talks being led by Vice President Biden.

Treasury secretaries have tapped special programs to avoid default six times since 1985. The most protracted delay in raising the debt limit came in 1995 after congressional Republicans swept to power during the Clinton administration.

But today, the government needs far more money to cover its obligations than in the past, making the special measures less effective than they used to be. The government needs about $125 billion more a month than it takes in each month.

In a letter released last week to Sen. Michael Bennet (D-Colo.), Geithner wrote that a default would risk a "double-dip" recession.

"Default would not only increase borrowing costs for the federal government, but also for families, businesses and local governments - reducing investment and job creation throughout the economy," Geithner wrote.

But several prominent congressional Republicans have dismissed the Obama administration's assertion that the country would face dire consequences if Congress does not vote to raise the federal limit on government borrowing by August. Many of the skeptics are affiliated with the tea party.

In the Senate, freshman Sen. Pat Toomey (R-Pa.) has said the Obama administration has been exaggerating the effects of hitting the default mark. He says breaching the limit would cause only a partial government shutdown.

Other freshman Republicans have said that Geithner could raise money to avoid defaulting by selling investments in private companies. The Republican Study Committee, which represents more than 150 lawmakers, sent a letter to Geithner last week pressing for more details about the Aug. 2 deadline.



Steve Forbes: Gold Standard to Return in Five Years

The United States will likely go back on the gold standard within five years in order to correct fiscal and monetary imbalances, says former GOP presidential candidate and Forbes Magazine Publisher Steve Forbes.

The gold standard, under which the dollar is pegged to gold instead of other currencies as it is today, was abandoned by President Richard Nixon in 1971.

"What seems astonishing today could become conventional wisdom in a short period of time," says Forbes, according to Human Events, a conservative media website.

A return to the gold standard would stabilize the dollar by discouraging hefty fiscal spending as well as preventing the Federal Reserve from printing excess money.

"People know that something is wrong with the dollar," Forbes says, adding "you cannot trash your money without repercussions."

The dollar would not only be stronger today if the gold standard were in place, it would be less volatile.

Currency volatility has helped open the doors for speculators to invest in commodities as a hedge against swinging currency values, which has helped stoke inflationary concerns.

Under a gold standard, it is "much harder" for governments to borrow excessively like they are doing today, Forbes says.

The housing bubble, partly the product of loose monetary policy, would never have been so severe under a gold standard.

"When it comes to exchange rates and monetary policy, people often don't grasp" what is at stake for the economy, Forbes says.

By restoring the gold standard, the country would move away from "less responsible policies" and toward a stronger dollar and a stronger America, Forbes adds.

"If the dollar was as good as gold, other countries would want to buy it."

Talk of returning the country to the gold standard has risen in recent months.

Sean Fieler and Jeffrey Bell, respectively the chairman and policy director of the American Principles Project, say resurrecting the gold standard can tame the Federal Reserve's money-printing campaign.

"Members of Congress seeking to restrict the Fed's power need to consider what oppositional force is truly capable of hemming it in," the two write in recent The Wall Street Journal editorial.

"One answer is a revived gold standard, which would once again obligate the Fed to redeem dollars for gold at a fixed rate."

With the dollar weakening and with the Fed in no hurry to change its policies, gold has been soaring.

Precious metals often do when paper currencies soften.