CLINTON PLAYS TO HIGH SCHOOL GYM: TWO-THIRDS EMPTY
Monday, October 25, 2010
news you can use femacamp info base is on the ball update 10/25/2010
CLINTON PLAYS TO HIGH SCHOOL GYM: TWO-THIRDS EMPTY
The Good News/Bad News About This Market
After a week of modest gains with volatile swings in both directions, Friday closed with stocks mixed, light volume, and questions over the future profits of two blue-chip heavyweights — American Express Company (NYSE: AXP) and Verizon Communications Inc. (NYSE: VZ). Over 100 of the S&P 500 companies reported earnings, including 12 of the Dow 30.
American Express fell 3.1% on weak demand for new loans, while Verizon fell 1.3% on disappointment over slow growth in the wireless area. But both exceeded earnings estimates, which illustrates investors’ focus on future expectations.
Amazon.com, Inc. (NASDAQ: AMZN) beat earnings estimates and rose 2.5%, and Schlumberger Limited (NYSE: SLB) jumped 5.4% as it too beat estimates. But Exelon Corporation (NYSE: EXC) fell 3.5% after an increase in Q3 earnings of 12% and falling operating margins due to higher costs.
Overhanging the market is the G-20 meeting in South Korea. The finance ministers and central bankers of key nations are meeting to reach agreement on “managing exchange rates and cool what has been called a ‘currency war’” (Wall Street Journal).
Treasury prices fell Friday, as investors sold bonds in preparation of a $109 billion new debt supply this week. The 10-year Treasury note fell 8/32 to push the yield to 2.563%. The bond market fell on Thursday following a comment by Federal Reserve Bank of St. Louis President James Bullard who he sees “small increments” of Treasury-bond purchases when the Fed meets in early November.
The U.S. dollar rose, which offset some of the losses earlier in the week. The greenback closed on Friday at $1.3929 versus $1.3925 on Thursday.
At Friday’s close, the Dow Jones Industrial Average was off 14 points to 11,133, the S&P 500 rose 3 points to 1,183, and the Nasdaq gained 20 points at 2,479. The NYSE traded only 772 million shares with advancers ahead of decliners by 1.5-to-1. On the Nasdaq, advancers were ahead by 1.75-to-1 on volume of 445 million shares. For the week, the Dow gained 0.6%, the S&P 500 rose 0.6%, and the Nasdaq was up 0.4%.
On Friday, crude oil for December delivery rose $1.13 to $81.69 a barrel, and the Energy Select Sector SPDR (NYSE: XLE) gained 39 cents, closing at $59.30. December gold fell 50 cents to $1,325.10 an ounce with traders “saying that most of the currency-related jitters surrounding the potential for further U.S. monetary easing have been priced into the market” (Wall Street Journal). The PHLX Gold/Silver Sector Index (NASDAQ: XAU) closed at 196.82, up 0.34 points.
Last week, the Dow added 70 points, the S&P 500 was up 7 points, and the Nasdaq gained 11 points — not a spectacular week for the bulls, but enough to keep them plodding ahead.
To summarize the last couple of weeks: The S&P 500 spiked through its 200-day moving average and the double-top at 1,130, and in a little over a month ran to the major resistance at the bottom of April’s trading diamond at 1,185. It also popped over the January trading peak at 1,150 and the flash crash rebound at 1,173.
This is an impressive performance, so what is there not to like?
Well, first there were very modest stock gains despite 88% of companies that reported last week topping EPS estimates and 62% had better-than-expected revenues. And, to put it in the words of MarketWatch’s Michael Ashbaugh, there could be some looming trouble ahead from a “second 9-to-1 downdraft within the next several sessions (piling on Tuesday’s 9-to-1 sell-off). I would add that Friday’s puny volume numbers and stalling prices in the midst of some glowing earnings reports makes me more than just a little uncomfortable. We would not want to see more solid earnings reports or better economic numbers with accompanying declines in stock prices — that scenario could turn into a ‘good news/bad market reaction’ that often precedes a pullback.”
Until the April high is resolved, I’ll remain a very cautious bull.
For one of the stocks you should be bullish on, see my Trade of the Day.
Earnings to be reported after the close include: Aaron’s, Advent Software, Amgen, Arch Capital, Atheros Communications, BancorpSouth, Basic Energy Services, BE Aerospace, Cabot Oil & Gas, Chemed, Covenant Transport, Crane, Developers Diversified Realty, Digital River, East West Bancorp, Edwards Lifesciences, Energy XXI, Ferro, Harris, Heartland Financial, Hexcel, Insituform Technologies, Integrated Device, Kilroy Realty, Masco, Matrixx Initiatives, MIPS Technologies, Nara Bancorp, National Instruments, Olin, Owens & Minor, Plum Creek, PLX Technology, Reinsurance Group of America, Rent-A-Center, SL Green Realty, Synovus, Texas Instruments, Ultra Clean Holdings, Veeco Instruments, Vertex Pharmaceuticals, Volterra Semiconductor, W.R. Berkley, Zix Corp. and Zoran.
Economic report due: existing home sales (the consensus expects 4.3 million).
American Express fell 3.1% on weak demand for new loans, while Verizon fell 1.3% on disappointment over slow growth in the wireless area. But both exceeded earnings estimates, which illustrates investors’ focus on future expectations.
Amazon.com, Inc. (NASDAQ: AMZN) beat earnings estimates and rose 2.5%, and Schlumberger Limited (NYSE: SLB) jumped 5.4% as it too beat estimates. But Exelon Corporation (NYSE: EXC) fell 3.5% after an increase in Q3 earnings of 12% and falling operating margins due to higher costs.
Overhanging the market is the G-20 meeting in South Korea. The finance ministers and central bankers of key nations are meeting to reach agreement on “managing exchange rates and cool what has been called a ‘currency war’” (Wall Street Journal).
Treasury prices fell Friday, as investors sold bonds in preparation of a $109 billion new debt supply this week. The 10-year Treasury note fell 8/32 to push the yield to 2.563%. The bond market fell on Thursday following a comment by Federal Reserve Bank of St. Louis President James Bullard who he sees “small increments” of Treasury-bond purchases when the Fed meets in early November.
The U.S. dollar rose, which offset some of the losses earlier in the week. The greenback closed on Friday at $1.3929 versus $1.3925 on Thursday.
At Friday’s close, the Dow Jones Industrial Average was off 14 points to 11,133, the S&P 500 rose 3 points to 1,183, and the Nasdaq gained 20 points at 2,479. The NYSE traded only 772 million shares with advancers ahead of decliners by 1.5-to-1. On the Nasdaq, advancers were ahead by 1.75-to-1 on volume of 445 million shares. For the week, the Dow gained 0.6%, the S&P 500 rose 0.6%, and the Nasdaq was up 0.4%.
On Friday, crude oil for December delivery rose $1.13 to $81.69 a barrel, and the Energy Select Sector SPDR (NYSE: XLE) gained 39 cents, closing at $59.30. December gold fell 50 cents to $1,325.10 an ounce with traders “saying that most of the currency-related jitters surrounding the potential for further U.S. monetary easing have been priced into the market” (Wall Street Journal). The PHLX Gold/Silver Sector Index (NASDAQ: XAU) closed at 196.82, up 0.34 points.
What the Markets Are Saying
There is really very little to be said of the market’s action last week other than the fact that the volatility or “sound and fury” of early in the week was apparently “signifying nothing,” to borrow a line from Shakespeare. But Friday may have provided a clue as to the future direction of the market with volume at one of the lowest days of the entire year.Last week, the Dow added 70 points, the S&P 500 was up 7 points, and the Nasdaq gained 11 points — not a spectacular week for the bulls, but enough to keep them plodding ahead.
To summarize the last couple of weeks: The S&P 500 spiked through its 200-day moving average and the double-top at 1,130, and in a little over a month ran to the major resistance at the bottom of April’s trading diamond at 1,185. It also popped over the January trading peak at 1,150 and the flash crash rebound at 1,173.
This is an impressive performance, so what is there not to like?
Well, first there were very modest stock gains despite 88% of companies that reported last week topping EPS estimates and 62% had better-than-expected revenues. And, to put it in the words of MarketWatch’s Michael Ashbaugh, there could be some looming trouble ahead from a “second 9-to-1 downdraft within the next several sessions (piling on Tuesday’s 9-to-1 sell-off). I would add that Friday’s puny volume numbers and stalling prices in the midst of some glowing earnings reports makes me more than just a little uncomfortable. We would not want to see more solid earnings reports or better economic numbers with accompanying declines in stock prices — that scenario could turn into a ‘good news/bad market reaction’ that often precedes a pullback.”
Until the April high is resolved, I’ll remain a very cautious bull.
For one of the stocks you should be bullish on, see my Trade of the Day.
Today’s Trading Landscape
Earnings to be reported before the opening include: Bank of Hawaii, Boardwalk Pipeline, Boyd Gaming, Ceragon, Changyou.com, DSP Group, Kaiser Aluminum, KVH Industries, Lorillard, M/I Homes, NuStar Energy, NV Energy, RadioShack, Roper Industries, Sohu.com and Tuesday Morning.Earnings to be reported after the close include: Aaron’s, Advent Software, Amgen, Arch Capital, Atheros Communications, BancorpSouth, Basic Energy Services, BE Aerospace, Cabot Oil & Gas, Chemed, Covenant Transport, Crane, Developers Diversified Realty, Digital River, East West Bancorp, Edwards Lifesciences, Energy XXI, Ferro, Harris, Heartland Financial, Hexcel, Insituform Technologies, Integrated Device, Kilroy Realty, Masco, Matrixx Initiatives, MIPS Technologies, Nara Bancorp, National Instruments, Olin, Owens & Minor, Plum Creek, PLX Technology, Reinsurance Group of America, Rent-A-Center, SL Green Realty, Synovus, Texas Instruments, Ultra Clean Holdings, Veeco Instruments, Vertex Pharmaceuticals, Volterra Semiconductor, W.R. Berkley, Zix Corp. and Zoran.
Economic report due: existing home sales (the consensus expects 4.3 million).
Sunday, October 24, 2010
Dollar slips after G-20 disappoints
The dollar index /quotes/comstock/11j!i:dxy0 (DXY 76.96, -0.51, -0.66%) , a measure of the U.S. unit against a basket of six major global currencies, was at 76.951, down from 77.469 in late North American trading on Friday.
The G-20’s joint communiqué Saturday said that a global economic recovery is underway but uneven, and warned of the need to move toward more “market-determined” currency exchange rates. See full story on G-20 meeting.
“The communiqué ... is likely to help sustain the trend of recent months for dollar weakness against currencies with strong external positions,” said Dariusz Kowalczyk, Hong Kong-based senior economist and strategist at Credit Agricole, in a note to clients Monday.
Indeed, many Japanese companies are said to be preparing for further dollar downside.
Daily newspaper Yomiuri Shimbun reported Monday that Toyota Motor Corp. (JP:7203 2,926, +26.00, +0.90%) /quotes/comstock/13*!tm/quotes/nls/tm (TM 71.70, +0.08, +0.11%) revised its forecast for the dollar for this fiscal year to ¥80 from ¥90, and will take about a ¥150 billion hit to its earnings.
Japanese electronics giant Toshiba Corp. (JP:6502 409.00, +1.00, +0.25%) /quotes/comstock/11i!tosbf (TOSBF 5.07, +0.04, +0.80%) will build management systems that can withstand the dollar trading at ¥70, Toshiba President Norio Sasaki reportedly said at a forum in Tokyo Monday.
Against the Japanese yen, the dollar /quotes/comstock/21o!x:susdjpy (USDYEN 81.0000, -0.4400, -0.5403%) was buying ¥80.87 by midday Monday in Asia, down from ¥81.43 late Friday. See real-time currency quotes and tools.
While the strong yen has taken a toll on Japanese companies and the overall economy, exports are holding up better than some of the more pessimistic expectations had predicted. Data released Monday by the Ministry of Finance showed the country’s trade surplus rose 54.0% to 797.0 billion yen ($9.8 billion) in September from a year earlier, beating expectations, as exports rose more than economists had forecast.
Economists polled by Dow Jones Newswires had foreseen a ¥712.0 billion surplus. Exports were up 14.4% to ¥5.843 trillion, more than the median forecast for a 7.9% rise predicted by economists in a Dow Jones Newswires poll. Still, the pace of the increase slowed from August’s 15.5% rise.
The euro /quotes/comstock/21o!x:seurusd (EURUSD 1.4028, +0.0074, +0.5303%) bought $1.4037 Monday, up from $1.3934 late Friday, and the British pound /quotes/comstock/21o!x:sgbpusd (GBPUSD 1.5760, +0.0094, +0.6000%) rose to $1.5749 from $1.5675.
Later Monday, data are expected to show U.S. existing-home sales rose 6.3% to 4.39 million in September, after rising 7.7% in the prior month.
The G-20’s joint communiqué Saturday said that a global economic recovery is underway but uneven, and warned of the need to move toward more “market-determined” currency exchange rates. See full story on G-20 meeting.
“The communiqué ... is likely to help sustain the trend of recent months for dollar weakness against currencies with strong external positions,” said Dariusz Kowalczyk, Hong Kong-based senior economist and strategist at Credit Agricole, in a note to clients Monday.
U.S. Week Ahead: Blue chips, midterms
Earnings from top companies such as Microsoft, DuPont, Exxon and Merck will be in the spotlight next week, helping close out October on the way toward the upcoming midterm elections. Rex Crum reports.Daily newspaper Yomiuri Shimbun reported Monday that Toyota Motor Corp. (JP:7203 2,926, +26.00, +0.90%) /quotes/comstock/13*!tm/quotes/nls/tm (TM 71.70, +0.08, +0.11%) revised its forecast for the dollar for this fiscal year to ¥80 from ¥90, and will take about a ¥150 billion hit to its earnings.
Japanese electronics giant Toshiba Corp. (JP:6502 409.00, +1.00, +0.25%) /quotes/comstock/11i!tosbf (TOSBF 5.07, +0.04, +0.80%) will build management systems that can withstand the dollar trading at ¥70, Toshiba President Norio Sasaki reportedly said at a forum in Tokyo Monday.
Against the Japanese yen, the dollar /quotes/comstock/21o!x:susdjpy (USDYEN 81.0000, -0.4400, -0.5403%) was buying ¥80.87 by midday Monday in Asia, down from ¥81.43 late Friday. See real-time currency quotes and tools.
While the strong yen has taken a toll on Japanese companies and the overall economy, exports are holding up better than some of the more pessimistic expectations had predicted. Data released Monday by the Ministry of Finance showed the country’s trade surplus rose 54.0% to 797.0 billion yen ($9.8 billion) in September from a year earlier, beating expectations, as exports rose more than economists had forecast.
Economists polled by Dow Jones Newswires had foreseen a ¥712.0 billion surplus. Exports were up 14.4% to ¥5.843 trillion, more than the median forecast for a 7.9% rise predicted by economists in a Dow Jones Newswires poll. Still, the pace of the increase slowed from August’s 15.5% rise.
The euro /quotes/comstock/21o!x:seurusd (EURUSD 1.4028, +0.0074, +0.5303%) bought $1.4037 Monday, up from $1.3934 late Friday, and the British pound /quotes/comstock/21o!x:sgbpusd (GBPUSD 1.5760, +0.0094, +0.6000%) rose to $1.5749 from $1.5675.
Later Monday, data are expected to show U.S. existing-home sales rose 6.3% to 4.39 million in September, after rising 7.7% in the prior month.
Advertisement PALIN TO GOP: 'TIME TO DIG DEEP'... OBAMA TO DEMS: 'IT'S UP TO YOU'... THE FINAL DRIVE Feds shut 7 banks in FL, GA, IL, KS; 138 bank failures this year... CA boarder killed by shark; 'The waves turned red'... Beaches closed... FACEBOOK 'accidentally outing gay users'... MYSPACE, apps share user IDs with advertisers... VIRGIN SPACESHIP TO PASS NEW MILESTONE; RUNWAY COMPLETE... HORROR: Headless animals dumped on Miami street... EU to Italy: Clean up Naples trash or face fines... Residents complain of stench... Up to third of adults 'could have diabetes by 2050'... Blago trial delayed until April, after Chicago mayoral election... Hollywood Fundraiser For Rahm Emanuel... Powerful Anti-Rahm Alliance Emerges In Chicago... Israel vanquishes Iran -- on the chess board... SPOOKED: Cities ban teenage trick-or-treating ... UK teacher banned for life 'for being useless'... Advertisement AP WORLD AP NATIONAL AP WASHINGTON AP BUSINESS AP ENTERTAINMENT AP ON THE HOUR AP HEADLINES AP BREAKING AP/REUTERS PHOTO WIRE AP AUDIO SEARCH Date Range: Any word(s) in article: Date Range: Any word(s) in article: ANANOVA BLOOMBERG BUSINESS WIRE DEUTSCHE PRESSE-AGENTUR DOW JONES EFE INDO-ASIAN NEWS SERVICE INTERFAX ISLAMIC REPUBLIC WIRE ITAR-TASS KYODO MCCLATCHY [DC] PRAVDA PRESS ASSOCIATION PRESS TRUST INDIA PR NEWSWIRE [SHOWBIZ] PR WIRE SCRIPPS HOWARD US INFO WIRE WENN SHOWBIZ XINHUA YONHAP WORLD FRONT PAGES LOCAL NEWS BY ZIPCODE TV RATINGS MOVIE BOXOFFICE RESULTS ABCNEWS ACCESS HOLLYWOOD AD AGE DEADLINE BBC BBC AUDIO BILD BLAZE BILLBOARD BOSTON GLOBE BOSTON HERALD BREITBART BROADCASTING & CABLE CBS NEWS C-SPAN CHICAGO SUN-TIMES CHICAGO TRIB CHRISTIAN SCIENCE CNBC CNN CNN POLITICAL TICKER DAILY BEAST DAILY CALLER DAILY KOS DAILY SWARM DAILY VARIETY DER SPIEGEL E! ECONOMIST EDITOR & PUBLISHER EMIRATES TODAY ENT WEEKLY FINANCIAL TIMES FORBES FOXNEWS FOXNEWS NATION FREE REPUBLIC GAWKER HOT AIR HELLO! HILL H'WOOD REPORTER HUFFINGTON POST HUMAN EVENTS IAFRICA INTERNATIONAL HERALD TRIB INFOWARS INVEST BUS DAILY JERUSALEM POST LA DAILY NEWS LA TIMES LUCIANNE.COM MEDIA WEEK MSNBC NATION NATIONAL ENQUIRER NATIONAL REVIEW NEW REPUBLIC NEW YORK NY DAILY NEWS NY OBSERVER NY POST NY TIMES NEW YORKER NEWSBUSTERS NEWSBYTES NEWSMAX NEWSWEEK N. KOREAN NEWS PEOPLE PHILLY INQUIRER PHILLY DAILY NEWS POLITICO RADAR REAL CLEAR POLITICS REASON RED STATE ROLL CALL ROLLING STONE SALON SAN FRAN CHRON SEATTLE TIMES SKY NEWS SLATE SMOKING GUN SPLASH STAR SYDNEY MORNING HERALD TALKING POINTS MEMO TIME MAG TMZ [U.K.] DAILY MAIL [U.K.] DAILY MIRROR DAILY RECORD [U.K.] EVENING STANDARD [U.K.] EXPRESS [U.K.] GUARDIAN [U.K.] INDEPENDENT [U.K.] NEWS OF THE WORLD [U.K.] SUN [U.K.] TELEGRAPH US NEWS USA TODAY VANITY FAIR VILLAGE VOICE WASH EXAMINER WASH POST WASH TIMES WEEKLY STANDARD WORLDNETDAILY WOWOWOW X17 BIDEN: GOP spending $200 billion on campaign ads... VIDEO... Democrats Back Third Parties to Siphon Votes... Union Stagehand 'Fired' for Wearing 'Bush' Shirt, Hat... VIDEO... Obama T-shirt serves as voting 'dress code' reminder ... CT: Voters wearing WWE garb may be barred from polls... Palin makes surprise campaign stop in AZ... PELOSI CHALLENGED IN SAN FRAN... Republican candidate: Violent overthrow of govt 'on table'... 'Our nation founded on violence'... Extremely Graphic Abortion Ad Airs in DC... Russia's top drug official says CA legalizing pot would be 'catastrophic'... Murdoch Son Rises as Shareholders Study CEO Succession... AUDIO: Upset with dinner, boy, 10, dials 911... Rangers down Yankees to reach first World Series... Court takes children away from woman who taunted dying girl... POLICE: Drug Lab Found At Georgetown University... TWITTER BREAKING NEWS FEED... ABCNEWS NOTE MIKE ALLEN PLAYBOOK MSNBC FIRST READ WASH POST RUNDOWN... MATT DRUDGE 3 AM GIRLS CINDY ADAMS MARC AMBINDER JONATHAN ALTER BAZ BAMIGBOYE DAVE BARRY MICHAEL BARONE STEPHEN BATTAGLIO BIZARRE [SUN] GLORIA BORGER BRENT BOZELL DAVID BRODER DAVID BROOKS PAT BUCHANAN HOWIE CARR MONA CHAREN ELEANOR CLIFT RICHARD COHEN JOE CONASON DAVID CORN ANN COULTER JIM CRAMER CRAIG CRAWFORD STANLEY CROUCH LOU DOBBS DE BORCHGRAVE MAUREEN DOWD ROGER EBERT LARRY ELDER SUSAN ESTRICH JOSEPH FARAH SUZANNE FIELDS HOWARD FINEMAN NIKKI FINKE FIRST DRAFT [REUTERS] FISHBOWL, DC FISHBOWL, NYC ROGER FRIEDMAN JOHN FUND LEAH GARCHIK GATECRASHER BILL GERTZ GEORGIE GEYER JIM GLASSMAN JONAH GOLDBERG ELLEN GOODMAN MARTIN GROVE MARK HALPERIN CARL HIAASEN NAT HENTOFF PEREZ HILTON CHRISTOPHER HITCHENS HUGH HEWITT INSIDE BELTWAY INSIDE THE RING AL KAMEN MICKEY KAUS KEITH J. KELLY MICHAEL KINSLEY JOE KLEIN HARRY KNOWLES KRAUTHAMMER NICHOLAS KRISTOF PAUL KRUGMAN LARRY KUDLOW HOWIE KURTZ JOHN LEO DAVID LIMBAUGH RUSH LIMBAUGH HAL LINDSEY RICH LOWRY MICHELLE MALKIN DICK MORRIS PEGGY NOONAN OFF THE RECORD MARVIN OLASKY BILL O'REILLY PAGE SIX CAMILLE PAGLIA ANDREA PEYSER JIM PINKERTON BILL PRESS WES PRUDEN ANNA QUINDLEN FRANK RICH REX REED RICHARD REEVES RELIABLE SOURCE RICHARD ROEPER RUSH/MOLLOY SCHLAFLY TOM SHALES LIZ SMITH MICHAEL SNEED THOMAS SOWELL MARK STEYN ANDREW SULLIVAN CAL THOMAS TV COLUMN TV NEWSER TV PROGRAMMING INSIDER VEGAS CONFIDENTIAL JEFFREY WELLS WASHINGTON WHISPERS GEORGE WILL WALTER WILLIAMS JAMES WOLCOTT MORT ZUCKERMAN BILL ZWECKER REPORT: First lady 'likely' to meet 'commercial sex workers' in India! Presidential entourage books all 570 rooms in 5-star Taj Mahal Hotel... Teleprompter to debut at India's Parliament when Obama speaks... GREATEST DATA LEAK IN MILITARY HISTORY... WIKILEAKS DUMP: NYT... GUARDIAN... DER SPIEGEL... TELEGRAPH: Obama faces tough questions on Iran... Documents show chemical weapons were found in Iraq... Body scanners unveiled at JFK; Big Sis doesn't volunteer... WASHPOST: Black Panthers case taps deep racial divisions at Justice... UPDATE: Cholera kills 150 in Haiti... HE'S BACK: Bush speaks in Chicago, plugs new book... Will the book leak before election day? UPDATE: Fugitive Randy Quaid, wife claim refugee status in Canada... Oprah, Streep, Bullock to star in film by 'SEX AND CITY' director... Taiwanese bride bemoans lack of men, marries herself...
Saturday, October 23, 2010
Barack and Michelle's Mumbai darshan plans
US President Barack Obama and First Lady Michelle will be extremely busy in Mumbai, upon landing on November 6 for a two day India visit. As the world’s most powerful man and his wife zip around the city visiting the 26/11 memorial on Marine Drive, the National Centre for Performing Arts (NCPA), Mani Bhawan and other locations in south Mumbai, the security obviously will be water-tight .
Adding to the Obamas’ busy schedule is Michelle’s likely visit to Kamathipura, where she will meet commercial sex workers on the invitation of an NGO. The highprofile visit is likely to inconvenience the citizens, as there could be a complete clampdown on traffic on some main roads of south Mumbai and sanitisation of buildings flanking them.
The Obamas will stay at the Taj Mahal Hotel, and his itinerary practically means Marine Drive will be shut for vehicular traffic on the day of the President’s visit, while buildings flanking it will be sanitised with security personnel manning them until Obama has left the place. Same would be the case with Obama’s visit to Mani Bhawan and Michelle going to Kamathipura.
An officer with the security establishment said, “Several other arterial roads in south Mumbai will also see restricted traffic movement, with tight security all around. The Obamas are not expected to schedule any engagements in the night due to security reasons.”
Since Obama is expected to arrive in the afternoon on November 6, and will travel by road to the Taj Mahal Hotel, the entire stretch from airport to the hotel will be under heavy security. The officer said, “There will be no vehicular movement on Western Express Highway at that time. Traffic on roads leading up to the highway will also be stopped. All buildings flanking the entire stretch will be sanitised. However, there is no threat from the snipers as the President will travel in a bullet-proof car with 4.5-inch thick sheets, which are impenetrable for any gun.”
Obama’s personal security staff itself will be huge, and it has already started making its own arrangements in Mumbai. “A team of secret service agents has already arrived, and has surveyed the areas of his stay and the roads and places on his itinerary,” the officer said.
To ensure fool-proof security, the President’s team has booked the entire the Taj Mahal Hotel, including 570 rooms, all banquets and restaurants. Since his security contingent and staff will comprise a huge number, 125 rooms at Taj President have also been booked, apart from 80 to 90 rooms each in Grand Hyatt and The Oberoi hotels. The NCPA, where the President is expected to meet representatives from the business community, has also been entirely booked.
The officer said, “Obama’s contingent is huge. There are two jumbo jets coming along with Air Force One, which will be flanked by security jets. There will be 30 to 40 secret service agents, who will arrive before him. The President’s convoy has 45 cars, including the Lincoln Continental in which the President travels.”
Since Obama will stay in a hotel that is on sea front, elaborate coastal security arrangements have been made by the US Navy in consonance with the Indian Navy and the Coast Guard. “There will be US naval ships, along with Indian vessels , patrolling the sea till about 330-km from the shore. This is to negate the possibility of a missile being fired from a distance,” the officer said.
The President will be accompanied by his chefs, not because he would not like to savour Indian cuisine, but to ensure his food is not spiked.
US President Barack Obama and First Lady Michelle Obama are scheduled to land in Mumbai on November 6.
Adding to the Obamas’ busy schedule is Michelle’s likely visit to Kamathipura, where she will meet commercial sex workers on the invitation of an NGO. The highprofile visit is likely to inconvenience the citizens, as there could be a complete clampdown on traffic on some main roads of south Mumbai and sanitisation of buildings flanking them.
The Obamas will stay at the Taj Mahal Hotel, and his itinerary practically means Marine Drive will be shut for vehicular traffic on the day of the President’s visit, while buildings flanking it will be sanitised with security personnel manning them until Obama has left the place. Same would be the case with Obama’s visit to Mani Bhawan and Michelle going to Kamathipura.
An officer with the security establishment said, “Several other arterial roads in south Mumbai will also see restricted traffic movement, with tight security all around. The Obamas are not expected to schedule any engagements in the night due to security reasons.”
Since Obama is expected to arrive in the afternoon on November 6, and will travel by road to the Taj Mahal Hotel, the entire stretch from airport to the hotel will be under heavy security. The officer said, “There will be no vehicular movement on Western Express Highway at that time. Traffic on roads leading up to the highway will also be stopped. All buildings flanking the entire stretch will be sanitised. However, there is no threat from the snipers as the President will travel in a bullet-proof car with 4.5-inch thick sheets, which are impenetrable for any gun.”
Obama’s personal security staff itself will be huge, and it has already started making its own arrangements in Mumbai. “A team of secret service agents has already arrived, and has surveyed the areas of his stay and the roads and places on his itinerary,” the officer said.
To ensure fool-proof security, the President’s team has booked the entire the Taj Mahal Hotel, including 570 rooms, all banquets and restaurants. Since his security contingent and staff will comprise a huge number, 125 rooms at Taj President have also been booked, apart from 80 to 90 rooms each in Grand Hyatt and The Oberoi hotels. The NCPA, where the President is expected to meet representatives from the business community, has also been entirely booked.
The officer said, “Obama’s contingent is huge. There are two jumbo jets coming along with Air Force One, which will be flanked by security jets. There will be 30 to 40 secret service agents, who will arrive before him. The President’s convoy has 45 cars, including the Lincoln Continental in which the President travels.”
Since Obama will stay in a hotel that is on sea front, elaborate coastal security arrangements have been made by the US Navy in consonance with the Indian Navy and the Coast Guard. “There will be US naval ships, along with Indian vessels , patrolling the sea till about 330-km from the shore. This is to negate the possibility of a missile being fired from a distance,” the officer said.
The President will be accompanied by his chefs, not because he would not like to savour Indian cuisine, but to ensure his food is not spiked.
US President Barack Obama and First Lady Michelle Obama are scheduled to land in Mumbai on November 6.
Thursday, October 21, 2010
news you can use femacamp info base is on the ball
Subscribe to:
Posts (Atom)