Friday, August 08, 2008

Guesstimates on August 8, 8:20 am ET

Spiders - September S&P E-mini Futures: I am still 200% long from an average price of 1251.25. I think the e-minis will reach 1325 over the next week or two. Support today is again at 1260. I think the market is in the early stages of a rally which will carry it to 1500 over the next several months. 

QQQ: Support remains at 44.00. Resistance stands at 47.50.  During the next few months the market should rally to 55 or higher.    

TLT - September Bonds: The trend has turned downward once more and the bonds are headed for 109. Resistance is at 116-12. 

September 10 Year Notes: The trend has turned downward and the notes are headed for 108. Resistance above the market is at 115-20. 

Euro-US Dollar: The trend has turned downward in the euro and I think the market is headed for 135. Resistance above the market is at 156.00. 

Dollar-Yen: The market should reach the 112.00 target soon. Support is now at 106.00. 

XLE - OIH - USO – September Crude: I think that the market is now headed for 100. The 125 level is now resistance. 

GLD - December Gold: Gold is headed for 750.  Resistance above the market is at 915. 

SLV - September Silver: I think the market is now headed for 1250. Resistance is at 1750. 

Google: The 460-80 range is good support and I expect the market to hold there and begin a move which will carry it over 750. 


Anonymous said...

You were certainly right about the euro.

Anonymous said...

no one was more surprised than me that my long bond position mentioned a few weeks ago worked.. at this morning highs... gone basis the short

Anonymous said...

those of us who have been short GLD,NEM,FXE... are using the geometry to hand the trade of to those late to the trade... today NEM,GLD,FXE,TLT..all simultaneously hit targets given by the geometry....the easy money has been made.

Anonymous said...

Come on Carl, How can you still be bearish on treasuries after yesterdays move? Interest rates are headed much lower dude. That's the only reason i'm super bullish on equities with you.

Win said...

Hmmm, I wonder what happened to the 17/18 bearish posters just three days ago. Kudos to you Carl, for sticking to your views.

Anonymous said...

Hi carl
consider this constructive critism
you have slowly drifted away from
your george lindsay work . i know from time to time i drift away from some of my rules or principals from time to time and yet it is usually when i dont trust when my work says . i think that is what you did when the mkt peaked , it was not your work that failed it was your interpretation or distrust in what your work told you that failed . so here we are today with what can be considered a bottom and now would be a good time to take a good hard look at what happend and try to put the overall picture back in veiw , hindsight is always helpful in that regard . for my own work i see that the same cycle low in 2006 us another cycle low in early aug 2008 and yet i still have 2 more cycle low points i need to watch
that being aug 19th and sept 17th