Tuesday, December 13, 2005

Guesstimates on December 13 , 8:55 am ET

March S&P Futures:  The market is now headed for 1298 with support at 1259.

March Bonds: I think the bonds are on the way to 113-28. I expect the bonds to rally into the 115-116 zone before the bear market resumes.

March 10 Year Notes: The notes should rally to 109-28. I expect this market to move into the 111-112 zone before the bear market resumes.

December Eurocurrency: The market is headed for 123.50 with short term resistance at 121.00.  

January Crude: Should bounce off the 62.20 level and then drop to 57.50. I expect crude to trade in a range of $54 to $64 for several months before going much lower.

February Gold: Should first drop to 515 and later to 498. Yesterdays high at 544.90 will hold for at least several weeks.

March Silver: The market is on its way to 830. Yesterday’s high at 934.5 (electronic) will hold for at least several weeks.

Google: I think GOOG is now headed for 440.

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