Friday, December 09, 2005

Guesstimates on December 9 , 9:00 am ET

March S&P Futures: Support is at 1255 and I think that level will be reached before the market moves to the next short term target at 1298.

March Bonds: The 111-08 level is strong support and 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 hold 107-30 and rally to 109-28. I expect this market to move into the 111-112 zone before the bear market resumes.

December Eurocurrency: Resistance is still 118.20 and I think the market is headed for 115.50 before it can rally substantially.

January Crude: The market is headed for 62.20 and from there will probably drop at least to 57.50. I expect crude to trade in a range of $54 to $64 for several months before going much lower.

February Gold: Gold has rallied to the 524-26target and now should drop to 502.

Google: I think GOOG is now headed for 440.

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