Thursday, April 12, 2007
Where are we?
Dear Readers, Considering today's action in the markets here is what we see. This rally, provided lasts to the end, will create a lower buy pressure and another opportunity at a stronger sell-off. You know the deal by now. Low buy pressure has only one cure, high buy pressure and that only comes via market decline. Market now seems to be setting up one of those sell-off's again. That could take a day or week, just watch the pressures. Good Trading
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8 comments:
Boris
I have been viewing the your site for a little over a week and find it very straight forward and helpful. Thanks for posting.
I have 1 question about gold. It seems you are saying on a short term basis you see today as a low. Is that correct?
Thanks
Howard
Dear H. You are correct. Today had market a low in GOLD and SILVER on a very short term bases. SILVER had retraced 37 c from the top of 2 days ago. Now that may not be much ( I expected more initially), but considering it happened exactly on 12 April as predicted, I will take it as a low. Nothwithstanding all above, my outlook for next couple months is clouded. Best outcome looks a sideways move with $2 range in siver and $15 range for GOLD. The sideways move will, most likely, have the slant. This is where my inability to see if this tilt is up or down comes in. The upwards slanting consolidation would be extremely bullish for metals, especially after June. Downward slant will tell us that SILVER may lag the GOLD in the second half rally of metals and GOLD rally itself may not be as strong. Good To hear from you and GOod Trading Dear H.
Boris
I have been viewing the your site for a little over a week and find it very straight forward and helpful. Thanks for posting.
I have 1 question about gold. It seems you are saying on a short term basis you see today as a low. Is that correct?
Thanks
Howard
Thanks Boris. Appreciate the extensive answer.
Howard
hi boris and team. boris, there's a bloke called charles nenner will be appearing on CNBC at 0650 ET Friday; he's a cycle forecaster who apparently has something short-term to say about the S&P 500. being in another country, i've had a look at the CNBC website and can't pick up the appearance via the web (although maybe video later). your expert view on his comments would be interesting, if you have time to take a look. regards, malcolm.
Dear Malcolmm, Which Country are you in, just curious... Yes, I have subscriptiion to BLOOMBERG, but can access CNBC at a friends place, even though I never bother. In any case, I would love if anybody of our friends picks up the initiative and records video or just writes down the principles of what this guy says and we can all discuss it. Good Trading Dear Malcolmm and everybody
in australia ... where i live, an hour or so outside the queensland state capital brisbane, we are up a bush-covered valley and a few kms from the nearest kangaroos - but we do have wallabies (like very small kangaroos) nibbling the grass in the yard at night. occasionally our red heeler (cattle dog) catches one and chews it up, fur and all :(
Dear Malcolmm, AH... Australia and Cangaroos and Heeler Dogs the good life. I must satisfy myself with the beautiful/spectacular beaches of Natania and Mediterranean and Nuclear danger posed by the madman from IRan. Such is the life... GOod Trading
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