One of Washington’s principal supporters of the Tea Party movement, former GOP Majority Leader Dick Armey’s FreedomWorks, has been receiving death threats and profanity-laced phone calls as it gets involved in the fall elections. The number and intensity have reached such heights that the organization is leaving its downtown location near the FBI and moving to a high-security building near the U.S. Capitol.
“FreedomWorks and Dick Armey receive dozens of threatening and harassing calls and E-mails each day. Many imply violence and use of weapons,” spokesman Adam Brandon tells Whispers. “As we get closer to the election we expect the harassment to increase.”
He says that FreedomWorks will hire additional security, meaning less money for its election-eve, get-out-the-vote, or GOTV, campaign. “Unfortunately, we may have to use resources for security guards that we would rather use for GOTV,” he said.
The group plans to move to 400 North Capitol Street NW, a secure building two blocks from the U.S. Capitol. That building also houses Fox News Channel’s Washington Bureau and several other media outlets.
FreedomWorks provided some of the recordings of the threatening calls to Whispers and they include physical threats and profanity aimed at the group, Tea Party spokesmen and even conservative talkers. “You guys better watch it,” says one caller. “Now, we are going to destroy and obliterate Rush [Limbaugh] and Sean Hannity,” said another. “Those two guys are dead.”
After tumbling below 10,000 yet again Wednesday morning, the Dow rebounded to close above that psychologically important level and was slightly higher early Thursday. Still, fear in the market is being expressed by the continued rally in Treasuries and widespread chatter about an ominous sounding technical indicator: The Hindenburg Omen.
The Hindenburg Omen has a roughly 25% accuracy rate in predicting big market upheaval since 1987, meaning it’s far from infallible but isn’t inconsequential either. The indicator’s creator, mathematician Jim Miekka, compares the Hindenburg Omen to a funnel cloud that precedes a tornado in a recent interview with The WSJ. “It doesn’t mean [the market’s] going to crash, but it’s a high probability,” he said.
Complex and esoteric even in the world of technical indicators, the Hindenburg Omen is triggered when the following occurs, Zero Hedge reports:
* — The daily number of NYSE new 52-week highs and the daily number of new 52-week lows must both be greater than 2.2% of total NYSE issues traded that day.
* — The NYSE’s 10-week moving average is rising.
* — The McClellan Oscillator (a technical measure of “overbought” vs. “oversold” conditions) is negative on that same day.
* — New 52-week highs cannot be more than twice the new 52-week lows. This condition is absolutely mandatory.
These criteria have been hit twice since Aug. 12, prompting Miekka to get out of the market entirely, The WSJ reports. Judging by the recent market action, many others are following suit — or at least moving in the same direction.
Read more here.