Today's Video Update: Don't Worry About The Price Of Gas, This Agency Has It Under Control

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 3rd of April.

Don't Worry About The Price Of Gas, This Agency Has It Under Control
Back on 8/4/1977, the Department of Energy was instituted TO LESSEN OUR DEPENDENCE ON FOREIGN OIL.
34 years ago, 30% of our oil consumption was foreign imports. Today, 70% of our oil consumption is foreign imports. Pretty efficient, huh???

And now it's 2013, 36 years later, and the budget for this "NECESSARY" department is at $24.2 BILLION A YEAR. It has 16,000 federal employees and approximately 100,000 contract employees and look at the job they have done! (This is where you slap your forehead and say, "WHAT WERE THEY THINKING?")

Ah yes, good old Federal bureaucracy.

Now we have turned over the banking system, healthcare, and the auto industry to the same government. Does that make sense to anyone besides the government?

Watch Today's Video Update Here

Check Out What I Said About Tesla Before Yesterday's Big Announcement
Yesterday, I had the good fortune to be invited to CNBC studios in Washington DC to discuss Tesla and the automobile industry. I have been very excited about all the new technology that is going into 2013 cars, electric cars in particular. I was being interviewed by Maria Bartiromo just 20 minutes before Elon Musk, the president of Tesla, was scheduled to make his big announcement. I think you might be surprised at what I predicted Elon would say.

3 Stocks On The Move:

North Korea Is Out Of Control
While I was waiting at CNBC studios yesterday, I ran into a professor from George Washington University, who was there talking about North Korea. The whole gist of his very informative conversation was that the Kim Jong Un is out-of-control from his mentor in China. Here's a 29-year-old in charge of a country with nuclear bombs out to prove himself - how crazy is that! Now that presents a pretty scary scenario for both Washington and China. What do you think?

Ron Is Gone
In my opinion, Ron Johnson will be out of a job at JC Penney in the next 6 months. Johnson took over the reins of JC Penney on November 1st, 2011. Since then, the retailer has been struggling and posted a $1 billion operating loss for the year. Ron had promised the board a $1 billion profit. Shares have dropped 44% and they're off 26% this year, not good for shareholders and a poor reflection on the board. There will be no second act for Ron and it could all have to do with The Peter Principle. The Peter Principal is a proposition that states that the members of an organization where promotion is based on achievement, success, and merit, will eventually be promoted beyond their level of ability (think Ron Johnson). Ron moved to JC Penney from Apple, and to transition from high tech to low tech is very difficult in today's economy, as they require two different mindsets. We will be looking at JC Penney (JCP) today with our Trade Triangle technology.

Ben Bernanke's 401K Program
You know, it would be great to be in Ben Bernanke's office to see when he decides to liquidate his 401K retirement program. I know that's never going to happen, but that will be the biggest signal, in my mind, that the market has topped out. We can only wish.

Watch Today's Video Update Here

Potential Chaos Ahead
May 19th – Debt ceiling suspension expire
Europe - slow evaporation - economic risk
North Korea - unknown risk evaluation
The FED - finally throws in the towel
Have a great trading day,

Adam Hewison
Co-Creator, MarketClub

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Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.

One thought on “Today's Video Update: Don't Worry About The Price Of Gas, This Agency Has It Under Control

  1. Not to worry, with the Keystone pipeline option scuttled, refined Canadian Petroleum products may soon be purchased from the Far East with Bennybucks. Government control of banking, healthcare and auto production will soon complete the socialists dreamstate and displace us working stiffs engaged in private enterprise. Wow!

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