Friday, November 12, 2010

Guesstimates on November 12, 2010

December S&P E-mini Futures: Today's range estimate is 1196-1209. I think a drop to 1187-90 or so is underway. Once it is complete the march to 1300 will resume.

QQQQ: Support is at 52.00 and the next upside target is 57.50.

TYX (thirty year bond yield): The thirty year yield has dropped well below long term support at 3.85%. I think the market is at a juncture like that of December 2008 - fast drop in yield that will be followed by a fast rise. The bonds will soon begin a move to 5.40%.

TNX (ten year note yield): The 10 year yield has dropped more than I expected. Still, I think the next big move in yields will be upward. I think that the notes will soon begin a swing up to 4.50%.

Euro-US Dollar: The euro shows no signs of a top. Next target is 143.50.

Dollar-Yen: A drop into the 78.00 - 79.00 range is underway and I think an important low will form in that zone.

December Crude: I still think crude oil is headed for 50.00.

GLD – December Gold: The market still has the bit between its teeth. Next upside target is 1480.

SLV - December Silver: I see no sign that the rhythm of the advance has faltered. Next stop is 31.60.

Google: The 475 level is support. A move that should take GOOG above 700 is underway.

Apple: Should reach 350 (at least) before the bull market ends. Support is at 265.


Nav said...

It is prestigious to be in carlrealtime seminar.
I'll be completing my very successful first year in futures trading on Dec 4,2011.
I went unbelievably doubling my account through Carl's help &not going to give even 1 penny to my born children as this all money(100%) is for my adopted children who are in return giving high academic achievements.
I happened to be in a chat room where they were taking wrong trades and Passed Carl's guess estimates to save them.They made me out of chat room very disrespectfully but that day ended so GREEN on me through this spot blog site and RED for them.
I learnt & am learning from Carl.Does he need advertisment ..NO Not Atall!We started fights when he told us to go long @1148...
Believe in him and learn,HE IS THE BEST !
Thank You,Sir!I Respect You So Very Much!

WealthAdviserUK said...

Not another day where Pomo fails to lift the markets? That's Monday & today.
Well, what will the bulls do now?
Keep buying the dips?
Or get the hell out before the realy big slide kicks in?
Next stop 950 SPX.
Good luck, sell before the flash crash!

Nav said...

..NO Not Atall!We started fights when he told us to go long @1148...

SORRY It was 1048--1224!

Kishore said...

Everyone has caught on to the QE and POMO games and they are no longer having the desired effect.

All asset markets are no longer taking their cue from Ben Bermonkey (sic).

Sellers are now fading POMO attempted stick rallies.

The rest of the world is counteracting the attempted wholesale debasement of the dollar.

Wags94596 said...

Hey Gary (Wealth-Advisor UK),

You really should stay off of Carl's blog, because I've seen your posts across the blogosphere and you and ALL of your "Perma-Bear" friends have been wrong for months now.

Furthermore, I've read your blog and it is like a broken record. You've missed every single RALLY over the last year or so and act as though you are a real money manager with actual "skin" in the game.

If you actually traded (shorted) these markets in the way that you have talked "tough" and so utterly bearish, you would have lost all of your clients and capital by now.

That is a fact.

So please do everyone here a favor and take your 950 SPX market call to one of your "perma-bear" blogs. Carl is interested in making money. Not throwing it away with some sort of ridiculous Unicorn like Elliott Wave theory's absurd "P3".

Nav said...

Great to see you Kishore!
Had been enjoying reading your valuable comments on market.
Thanks for sharing!

MKS said...

Carl is a hero when market is in a secular bull trend and a villain when in a bear trend......lucky for him, markets go up for a much longer duration than when they go down. Just as Pretcher is a perma-bear (and IMHO an idiot), Carl is a perma-bull but I think he has the good sense to get out of the way of precipitous declines.
I find Carl MOST USEFUL when he is predicting a correction. Then he is never wrong though he may underestimate the extent of the correction.

If you happen to be a bear, you should short the market when perma bulls like Carl and Jim Cramer call for a pullback, then you are almost guaranteed to bank coin