Thursday, August 21, 2008

Guesstimates on August 21, 8:15 am ET

Spiders - September S&P E-mini Futures: I am 200% long at an average price of 1270.75.  The 1260 level is still support. I think the next swing will carry the market up to 1340. I 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 - September Bonds: The bonds are headed for 118-28. 

September 10 Year Notes: The notes are headed for 117-20. 

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 120 level is now resistance. 

GLD - December Gold: Gold is headed for 750.  Resistance above the market is at 840. 

SLV - September Silver: Silver has reached my 1250 downside target but I think that any rally from here would halt near 1600 and be followed by still lower prices.  Next support is at 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. 


Anonymous said...

I hope you get it Carl, if nothing else just to prove the 'idiots' wrong who choose to be-rate your open and free postings..

Good Luck and Keep-Up great Blog..

gb, UK

Anonymous said...

Can anyone shed some light on why exchange stocks like the NYX keep getting hammered? New 52 week low today. Is this volatility not good for their trading fees?

Win said...

Thank you for posting this trade, Carl. You the man.

Anonymous said...

The only 'idiots' in this market are the sellers! Keep buying the dips the market will not go down from here. Not one person wants to miss the bailout announcement!

Anonymous said...

The 56:00 PM post should cause a shutter down ones spine if long, Kind regards, Janet

Anonymous said...

Carl, probably stop out at the open and miss the small rally

Anonymous said...


Can a rally and economic recovery now be anything other than a partial and temporary one within a bigger, long lasting malaise like Japan, with real estate bust, credit bubble unwinding, end of the Kondratieff cycle? Jim Rogers expects a malaise that could last decades, and more financial shocks to come. He says whether it's like the '90s in Japan or the '70s in America remains to be seen. Could you address this? You seem to be much more optimistic long-term. Thanks.

Anonymous said...

Bill M. who has more money? Carl or Jim?Regards

Anonymous said...

I concur bill m. Could you combine fundamental and technical analysis together. This will make the analysis more powerful.