Friday, December 16, 2005

Guesstimates on December 16 , 8:50 am ET

March S&P Futures:  The market is now headed for 1298 with support at 1272.

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.

March Eurocurrency: Short term support is at the 120.00 level and the next upside target is 122.30.  The market is headed for 123.50.  

January Crude: Should 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: Market hit 498 target in overnight trading and now should rally to 518. I think that the 544.90 high will hold for at least several weeks.

March Silver: Silver held up well while gold broke to 497 so it looks like silver will rally to 885 or so before dropping to 812. The high at 934.5 (electronic) will hold for at least several weeks.

Google: I think GOOG is headed for 440.

No comments: