Time to exit GM. I don't like it anymore with the heavy distribution(the odds of a strong gain are down a LOT). My subconscious mind is telling me to sell too. Someone was asking me about GM's fundamentals during naptime LOL. Anyways, 3-4% loss...
Gold up $6 intraday. New highs. Break above $550 resistance. Oil is consolidating between 63 and 65. The yellow metal will continue to soar.
HUI is consolidating and at resistance 308. It will either break out to blue sky or it will pullback, the jury is out until it makes its move. I thought it will pull back as indicators not supporting move, but then these are lagging... we'll see. Look at the coal stocks today, on fire after MEE upgrade... FDG nice move.
HMY closed at 14.95 KRY closed at 2.9 DROOY closed at 1.89 FNX closed at 12.52 OZN closed at 2.11 GOLD closed at 17.61 TGB closed at 1.52 Strong gains expected next week. KRY cup and handle, I like it the best. --- Others: Short LINE the new kid on the block. Long MORN. These have a good chance of doing well according to a new "theory" of mine.
Short EWJ. Bearish on Japanese stock market overall. No need to say more, time will tell. Long EPEX, oil stock and breakout.
Oil goes above $67. Danger ahead for longs at $67.50. But if we break above, as I think we eventually will, we will see stronger gains.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=axhbXSnZb0R4&refer=home Seems like the sentiment turned bullish. I'll be more cautious in my bullishness, perhaps neutral before it closes above $67.5-$68 decisively.
Closed at $68.54. Above resistance. $70 is next strong resistance. Sentiment turning bullish, not overheated yet, so bullish bias on oil. Gold is stagnant *curses*. I sense some very strong selling, even though money supply grew rapidly.
DVN is a recommended oil stock. CFK recommended again. Sell all other positions and recommended stocks, outlook for equities cut to neutral, slightly bearish(bullish on Monday though.) Dollar has been on the rise for 2005. However,I think the Euro and CHF have bottomed against the USD. EUR/USD 1.2138. USD/CHF 1.2759.(the numbers come from forex.com) Count this as another of my predictions. The chart is undoubtedly bullish for the EUR/USD and bearish for USD/CHF.