Spiders - June S&P E-mini Futures: I think the market will bounce from the 1325 level and begin a rally to 1410. I expect to see prints in the 1430-40 range within a couple of months.
QQQ: A rally to 47.50 is underway.
TLT - June Bonds: Resistance is still at 120-20 and I think the bonds are on the way down to 112. I think TLT will drop to 88.
June 10 Year Notes: Resistance is at 120-00. I think the notes are on the way down to 112.
Euro-US Dollar: I still think the euro is heading for 149.00.
Dollar-Yen: It now looks like the low at 95.76 will hold. Next upside target is104.00. Support is at 99.00. T
XLE - OIH - USO – May Crude: Crude will probably make it up to 114.00 but the market is trading around very strong, long term resistance in the 112-113 range so I think the next next significant development will be a drop into the $85-90 range.
GLD - June Gold: The market should be headed for the 750-80 range. Resistance is still at 940.
SLV - May Silver: It looks like the silver is headed for 15.50 or so. Resistance is at 1840.
Google: Google now has support at 440 and I think a big move upward is underway. Next short term upside target is 515.
4 comments:
Good morning, Carl
Hope that you are well. I can see what was going on yesterday.
The same thing happened to me during 2004-2007 for calling bottoms of markets.
Well, I am not so confident in the market as I was during the last few years for bullish market.
So, you seem to be only one who is still having the faith.
For me, I am in a camp - waitnsee - as I noted it Oct-Dec 2007 going into 2008.
Best of luck
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4/14/2008 07:17:00 AM
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4/14/2008 07:20:00 AM
Anonymous Anonymous said...
Carl,
please wake up ,we are in a bear mkt. in dollar and stocks and bull mkt in gold and oil.
You have it mixed up ...
good luck
Tiger
4/14/2008 07:22:00 AM
Anonymous Anonymous said...
SEll,Sell,Sell, Sell , Sell ....
the Hindenburg Omen is still valid and working so far.
Sell dollars and buy euros and chf.
The ES will drop another 10% by year-end.
Do not follow Carls forecast here, the only thing that is certain is that you will loose big time.
4/14/2008 07:24:00 AM
Anonymous Anonymous said...
Carl,
You continue bullish and we seem to be in a trading range.
I do not see a bullish picture until the credit rates spread issue is resolved.
http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND
http://www.federalreserve.gov/releases/cp/
If these remain or get worse I see a bad bear market. If they are fixed I think you will be proven correct.
4/14/2008 07:40:00 AM
Anonymous Anonymous said...
we will not have a bull market until carl becomes a bear. are you actually trading?
4/14/2008 07:56:00 AM
Anonymous Anonymous said...
where is the rally ??
4/14/2008 08:16:00 AM
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4/14/2008 08:18:00 AM
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4/14/2008 08:20:00 AM
Hi Carl,
12 comments yesterday! 7 out of 12 were abusive enough that you actually deleted them. And the other 5 were negative like "you've got it wrong, etc." I'm wondering whether you've ever seen that many comments in one day where they all turned out to be negative. Is this yet another contrarian indicator that a bottom is near?
Greg
and if the 1325 level doesn't hold on ES, then how low do we go?
Your call for an initial rally to 1390 before a 50-60 point pullback proved very prescient. Since then the ES has topped at 1388 and bottomed within a tick of your 1325 support. Nicely done.
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