Spiders - September S&P E-mini Futures: I am 200% long from 1276.50. I think this up swing will reach 1340. Support today is at 1286. I still think we are in the early stage of a move to 1500.
QQQ: Support is at 46.00. I think the Q’s are about to take a step up to 51.00. During the next few months the market should rally to 55 or higher.
TLT - December Bonds: The December bonds are trading 28 ticks below September. I think the market will bounce off of resistance near 118-16 and then head much lower.
December 10 Year Notes: The December notes are trading 37 ticks below September. I think the market will stall near 116-08 and then head much lower.
Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is at 150.00.
Dollar-Yen: The market should reach the 112.00 target soon. Support is now at 106.00.
XLE - OIH - USO – October Crude: I think that the market is headed for 100. The 122 level is resistance.
GLD - December Gold: Gold is headed for 700. Resistance above the market is at 840.
SLV - December Silver: Resistance is at 1500 and the next downside target is 1100.
Google: The 460-80 range is good support and I think this market is in the early stages of a move which will carry it over 750.
4 comments:
today your support of 1286 will be tested.............
next week is the real test if we can stay above 1300 or fall back towards 1240.
cheers
Susn
Yields on the treasury bonds are headed much lower. This will cause massive upside in stocks. Low yields support stocks. The stock market is at least 50% undervalued. Most bulls have been predicting interest rates to rise and have been wrong. Don't make the same mistake Carl! Also getting in and out of the market could be dangerous. Remain 200% long so you wont miss the panic buying on the bailout announcement of Fannie, Freedie, AIG, and Lehman.
"Remain 200% long so you wont miss the panic buying on the bailout announcement of Fannie, Freedie, AIG, and Lehman."
How come bailout of those 4 companies can cause panic buying?? Is it because it's indicating that most of financials will be own by government and all their shareholders lose it's investment?
I am 200% stupid since birth. Will remain so until death.
Oil is going to $45/barrell
Will Smith
Long Beach, CA
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