ShareThisPre-opening Comments for Wednesday March 28th
U.S. equity index futures are mixed this morning. S&P 500 futures are up unchanged in pre-opening trade.
Index futures slipped following release of February Durable Goods Orders. Consensus was a gain of 3.0% versus a decline of 3.7% in January. Actual was a gain of 2.2%. Excluding transportation, consensus was a gain of 1.5%. Actual was an increase of 1.6%.
Family Dollar eased $0.93 to $57.31 despite reporting higher than consensus third quarter earnings.
Nestle is expected to open lower after UBS downgraded the stock from Buy to Neutral.
Agnico-Eagle is expected to open higher after Global Hunter initiated coverage on the stock with a Buy rating. Target is $46.
Verizon is expected to open higher after RBC Capital upgraded the stock from Sector Perform to Outperform. Target is $40.
Technical Watch
Nestle SA (NSRGY) – $62.47 is expected to open lower after UBS downgraded the stock from Buy to Neutral. The stock has a positive technical profile. Intermediate trend is up. The stock trades above its 50 and 200 day moving averages. Strength relative to the S&P 500 Index has been positive since the beginning of February. However, short term momentum indicators are overbought and showing signs of rolling over. Preferred strategy is to accumulate the stock on weakness closer to its 50 day moving average at $60.08.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2012/03/clip_image001113.png "clip_image001[1]")
Agnico-Eagle Mines Ltd. (NYSE:AEM;TSE:AEM) – US$33.44 is expected to open higher after Global Hunter initiated coverage with a Buy rating. Target is $46 U.S. The stock has a negative technical profile. Intermediate trend is down. The stock trades below its 50 and 200 day moving averages. Strength relative to the S&P 500 Index has been negative since September. Seasonal influences are neutral to negative until July. However, short term momentum indicators are recovering from oversold levels. Preferred strategy is to take advantage of short term strength closer to resistance at $37.97 to reduce positions.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2012/03/clip_image002115.png "clip_image002[1]")
Agnico-Eagle Mines Ltd. (TSE:AEM) Seasonal Chart
![clip_image003[1]](http://charts.equityclock.com/wp-content/uploads/2010/03/image458.png "clip_image003[1]")
Verizon Communication (NYSE:VZ) – $38.66 is expected to open higher after RBC Capital upgraded the stock from Sector Perform to Outperform. The stock has a mixed technical profile. Intermediate trend is up. Support is at $37.07 and resistance is at $39.96. The stock trades above its 50 and 200 day moving averages. Seasonal influences are positive until mid-June. However, strength relative to the S&P 500 Index has been negative since mid-December and short term momentum indicators have rolled over from overbought levels. Preferred strategy is to accumulate the stock on weakness closer to its 50 day moving average at $38.52.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2012/03/clip_image004113.png "clip_image004[1]")
Verizon Communications Inc. (NYSE:VZ) Seasonal Chart
Interesting Charts
Health Care was the focus yesterday following discussion by members of the U.S. Supreme Court. Investors are guessing that a key section of Obamacare requiring everyone to pay likely will be struck down. Healthcare stocks responded on the upside.
Tech Talk’s Weekly ETF Column
(Published yesterday at www.globeandmail.com )
Headline reads, “Thinking of buying more U.S. stocks? Don’t do it now!” Following is a link to the report:
Following is full text:
Federal Reserve Chairman Ben Bernanke offered encouraging comments on the U.S. economy on Monday. U.S. equity indices responded by tacking on strong advances. The Dow Jones Industrial Average gained 1.23 per cent, the S&P 500 Index improved 1.39 per cent and the NASDAQ Composite Index advanced 1.78 per cent to reach an 11 year high. Traders responded primarily to one word made by Bernanke: accommodative. He noted that the Federal Reserve’s monetary policy will remain “accommodative” until fragile economic growth in the U.S. is sustained. Traders interpreted “accommodative” to mean that a third quantitative easing programme to stimulate the U.S. economy remains a possibility.
Strength in U.S. equity indices comes at an interesting time prior to a series of events during the next few weeks that could cause U.S. equity indices to pause recent uptrends:
· Economic news for the month of March generally will not help equity markets. March economic reports to be reported in April will have a difficult time showing gains on a month-over-month basis over exceptionally strong February data.
· Consensus estimates show that total first quarter earnings by S&P 500 companies are expected to show no increase on a year-over-year. That includes a 52 per cent increase by Apple, the company with the biggest influence on the S&P 500 Index. A major reason for the slowdown on a year-over-year basis is currency translation. The U.S. Dollar Index averaged 80 in the first quarter of 2012 versus 78 in the first quarter of 2011. Approximately half of the earnings from S&P 500 companies comes from outside of the U.S. Earnings from outside of the U.S. must increase 2.6 per cent in 2012 to match earnings last year.
· First quarter earnings reports by S&P 500 companies are likely to be accompanied with mixed to negative guidance for the second quarter. Once again, currency translation will have an impact. Average for the U.S. Dollar Index in the second quarter last year was 75 implying that earnings outside of the U.S. must increase 6.7 per cent in 2012 to match earnings last year if the U.S. Dollar Index remains near 80.
· Short and intermediate technical indicators show that U.S. equity indices currently are overbought. Investors are willing to take profits following gains since lows set on October 4th. The S&P 500 Index is up 31.8 per cent, the Dow Jones Industrial Average gained 27.3 per cent and the NASDAQ Composite Index has advanced 35.8 per cent.
· Seasonal influences during a U.S. Presidential Election Year historically turn negative in the first week in April. Prior to the beginning of April at least one of the major parties has multiple potential candidates. The peak into early April tends to coincide with equity market perception that final candidates for the Presidency have been chosen. This year, Obama is the Democrat Party selection and Romney is the most likely Republican Party selection. Political campaigns quickly change focus from fighting each other to fighting the incumbent (the so called EtchASketch effect infamously mentioned last week by Romney’s campaign organizer). Watch for the change in focus to occur just after Easter. Negative political rhetoric ramps up from both sides. Consumer and investor confidence declines, economic growth statistics stall and equity markets move lower. On average during U.S. Presidential election years since 1930, the Dow Jones Industrial Average has dropped 3.5 per cent from the first week in April to the end of May.
What to do? Ben Bernanke gave investors a bonus on Monday. Take it while you can. Investors with a time horizon of three months or less will want to protect themselves by taking profits before Easter in broadly based U.S. equity index ETFs including S&P 500 SPDRs (SPY $141.61), DJIA SPDRs (DIA $132.09) and PowerShares QQQ Trust (QQQ $68.11). Investors with a longer time horizon can hold through the period of weakness. U.S. equity markets have a history of moving higher from the end of May to the end of the year during a U.S. Presidential Election year.
Don Vialoux is the author of free daily reports on equity markets, sectors,
commodities and Exchange Traded Funds. . Daily reports are
available at http://www.timingthemarket.ca/. He is also a research analyst for
Horizons Investment Management Inc. All of the views expressed herein are his
personal views although they may be reflected in positions or transactions
in the various client portfolios managed by Horizons Investment Management.
FP Trading Desk Headline
FP Trading Desk headline reads, “What slowdown in China”? Following is a link:
http://business.financialpost.com/2012/03/27/what-slowdown-in-china/#more-156511
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices.
To login, simply go to http://www.equityclock.com/charts/
Also, please take advantage of Google ads and other ads available in the data base
Following is an example of EquityClock.com’s seasonality charts:
Disclaimer: Comments and opinions offered in this report at www.timingthemarket.ca are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.
Don and Jon Vialoux are research analysts for Horizons Investment Management Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons Investment Management Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons Investment Management Inc
Horizons Seasonal Rotation ETF HAC March 27th 2012
Thackray’s 2012 Investor’s Guide
Thackray’s 2012 Investor’s Guide recently has been released. It can be ordered online from Amazon.ca or Amazon.com at http://www.amazon.ca/gp/product/0978220064/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&tag=timthemar-20&linkCode=as2&camp=15121&creative=330641&creativeASIN=0978220064
It can also be ordered online from Brooke’s website: www.alphamountain.com (book is in stock).
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March 28th, 2012 at 9:49 am
Still08:
If you’re around, I’ve got to tell you I’m impressed. GLUU your short term call yesterday afternoon was within 1 cent of the low! Wow! How’d you do that? And there she goes! Good work and thanks.
Have fun!
Frank.
March 28th, 2012 at 9:53 am
Good morning all, another day, another battle..
I bought fm.to at $18.38 this a.m. Watching other stocks.. lulu is continuing to head lower (I hope gmsa is still short)
Also keeping an eye on pd.to.. haven’t bought it yet but considering, seems oversold.
Need to pray for HGU again..
March 28th, 2012 at 9:59 am
Hi Frank, how are you? What’s new in your heck of the woods?
March 28th, 2012 at 10:01 am
Wonder if anyone buy shorting for a day trade with an expectation today will be down and tomorrow buyers will come in to buy for monthend/Q end. Your comments are appreciated.
March 28th, 2012 at 10:03 am
Sorry should read “shorting” not buy shorting.
March 28th, 2012 at 10:05 am
Hi Eve,Tony and brian
RE: BHI
I bought BHI @ $42.93 and got out today @ $41.71. I didn’t to stay in the stock until it hits $37 and have a bigger loss.
I might re-enter a position when BHI hits $37 to recover the loss I have on this stock. What’s your thoughts?
Thank you, Ania
March 28th, 2012 at 10:07 am
Hey, Slava:
Just usual stuff here. No great excitement like you. Our 7-year-old is the exiting one around here. Are you selling to the sleep point? Enjoy Mexico. Silver capital of the universe. did you know that they just passed a law that returns Silver back to it’s former state? That is, it’s now considered real currency there. as you would say, hmmmmmm.
Have fun!
Frank.
March 28th, 2012 at 10:09 am
Slava: Have a wonderful holdiay, pictures look lovely, I have been Mayan Riviera and Cancun, went on a lot of day tours.
March 28th, 2012 at 10:10 am
Don’t like the looks of the Bomber today…this thing failed the recent uptrend…now 2 big down days….I’ll probably dump it soon. Better places to be….
March 28th, 2012 at 10:11 am
Have not seen Wayne around since last week. He must be busy this morning. Okay you oil experts, what do you expect here? My guess is inventories this morning will come out crappy and then of course, $WTIC will miraculously go up, not down. We shall see.
Frank.
March 28th, 2012 at 10:19 am
Frank: It depends upon what Goldman wants. Don’t they run the world?
March 28th, 2012 at 10:21 am
tony, I did a quick short on CMG this morning and made around $400
March 28th, 2012 at 10:22 am
Frank,
I will be going short crude this morning with a stop loss. I think we will test the lows today.
March 28th, 2012 at 10:23 am
Watching OSK, yes indeed big insider buying yesterday, big block 760K bought today – Slava was thay you?
March 28th, 2012 at 10:30 am
Frank,
Sorry, just read the rest of your post was not to me. I am not an expert. Just thought I would tell you where I was doing with crude.
March 28th, 2012 at 10:32 am
HGU.. from $10.35 24 hours ago to $9.76 right now… a difference of over $12k. Damn. Why can’t gold companies gain any traction to the upside?
March 28th, 2012 at 10:37 am
Hi Tony and others,
I read that you always suggest to put a stop price to protect the holdings. I would like to know how to put a PRACTIVAL/REASONABLE stop limit on the bid. What should be different amount between stop price and limit price – same price, 0.05 lower, or 0.05 higher, etc.
Thank you in advance!
Jeanne
March 28th, 2012 at 10:37 am
Canuck2004: re. BBD.b:
If it holds above it’s recent low around $3.86 and then starts heading up , would you not be a buyer? Just asking because you are usually in for the medium term. I am looking to accumulate if it continues to drop on low volume.
Have fun.
Frank
March 28th, 2012 at 10:48 am
Hi Ray-Kitchener. Oil is holding up fairly well given the large build in inventories. Are you a buyer here? Thanks.
March 28th, 2012 at 10:52 am
Michael: I am waiting to see what happens in the next 10 minutes or so. Very choppy right now. Check this out: Slimy Politicans
Market Currents – 10:29 AM France says it’s in talks with the IEA about releasing oil reserves to try to stem high crude prices, partly confirming a report that also included the U.S. and U.K. in the mix. Fuel costs are high and Sarkozy’s behind in the polls – this surely has nothing to do with the election, does it? Oil is -2.1%, continuing its decline from earlier.
March 28th, 2012 at 10:57 am
Hi Michael, Canuck, et al. Hope you are all well. AGT.to and TRW.to are still weak in here. Is there a price you would be interested for a registered plan ? Thank you, Paul
March 28th, 2012 at 10:58 am
Re: Oil….
It certainly sounds like all these guys are desperate to keep oil down. But I think it won’t work. Bla, bla,bla. If $wtic holds $103.50, it could still run up to $115.00, catching up to Brent. Here’s the wrench in the scenario….. XLE, USO, oily stocks look like they want to go lower. Still up in the air, as the plot thickens. I am still in UCO and may get stopped out if we head lower.
Thanks everyone. I appreciate your valued opinions.
Frank.
March 28th, 2012 at 11:04 am
Re: #21, I meant to ask AGT.to and TCW.to. Thanks.
March 28th, 2012 at 11:04 am
Frank: I am looking at a low of 104.00 – 104.50 in the next week or so. Once we get to that level then I plan on accumulating UCO for a swing trade. I believe that we could see a run up given the M.E., Israel and the US.
March 28th, 2012 at 11:17 am
# 18 Frank RE: Bomber
I don’t like having money tied up in a losing proposition, if it ain’t going up, not interested. If I sell out today, I’ll redeploy the money somewhere else with better prospects and come back later when an uptrend in more firmly established…not all trades work out…. and sometimes seasonal trades don’t work out either.
I’m trying to make money here, not to be right. Not married to anything.
March 28th, 2012 at 11:23 am
In fairness to Bradley’s call of Market turn on March 16th….
I did some charting and found that the German, France and English markets have been in a downtrend from March 16th…. and China which is further East has been in a downtrend since March 13th…. interesting. Does the bradley Siderograph specified as N.A. markets?
March 28th, 2012 at 11:33 am
Gotta run. Have fun! Weeeeee!
frank.
March 28th, 2012 at 11:35 am
Tony…
“WLM
…what are you getting at with the following statement?
You should be adviser to President, not his bad broker.
1st part looks flattering….”
Yes …, I like your full opinions about stocks on this blog, including OSK.TO.
When OSK.TO President reported market transactions, I was thinking, that his financial adviser/broker did bad job.
March 28th, 2012 at 11:36 am
I have been day trading a relatively new IPO – YELP and I keep underestimating this stock. I keep selling it way too soon…. my first purchase was on Monday at $24.53 – it hit a high today so far of $31.96 . but as I say I have been buying and selling… bought and sold today at $29.73 for a profit of $1.37/share. Hard to believe, but it’s up over 10% on a day when even the Nasdaq is down! It is an interesting company but it is parabolic!
March 28th, 2012 at 11:36 am
Oilers,
Trading HVU when oil did not move at 7.1 million barrels of storage! Maybe another 20% day for HVU.
March 28th, 2012 at 11:37 am
GLUU –
StockScores featured this in his weekend (sunday) letter
so maybe some of his readers are moving it…..
I don’t think that this happens too often???
How come they did not move it yesterday – Monday
oil & gas related stocks down today = airlines up
wonder how long this down move will last???
March 28th, 2012 at 11:41 am
Ray-K or any one wanting to comment on this —
Depends what Goldman (and Uncle Bernie) want. Would it be reasonable to say that money back into bonds would be desirable in order to keep interest rates low??
March 28th, 2012 at 11:47 am
YELP! Yikes! What a move
Great call Tawny!!
I’m short UNG BHI SWN
Watching the golds to confirm a roll-over, below last week’s lows.
http://stockcharts.com/freecharts/candleglance.html?OSK.TO,MUX.TO,ANV.TO,NSU.TO,AUQ.TO,PVG.TO,PG.TO,RR.TO,SMF.TO,AEM.TO,K.TO,AUMN,|C|V25
March 28th, 2012 at 11:51 am
Frank: My system was originally proprietary, which I have subsequently modified and fine-tuned. My breakthrough came when I started to annotate my charts with what I saw or questions I had on a stock. The brain is not capable of remembering. If you do not annotate then every time you look at a chart you are trying to remember what you saw before. Energy & time are wastefully expended. With annotations, your brain can move beyond remembering into seeing the chart’s picture. Then this seeing can be transferred to other stocks. I spend a lot of time marking charts. I see GLUU is working at resetting.
March 28th, 2012 at 12:05 pm
Hi Paul. I don’t follow AGT, but it looks somewhat oversold; however, it seems to like to break through the lower Keltner (2.5 setting) before moving back up a couple days later, so you may want to wait.
As for TCW, fundamentals are good, seasonality is good, but the stock has suffered with the rest of the oil services. Decent support here, but I would want to see if can maintain it.
March 28th, 2012 at 12:06 pm
Frank…#22 – Oils
looks like sideways to lower at the moment,
certainly lower TODAY
as for tomorrow…. it’s anybody’s guess
same decisions every day….. long, short or sidelines
http://stockcharts.com/freecharts/candleglance.html?XEC,CHK,ROSE,OII,COP,USO,CNQ,KOG,PBR,DVN,PAA,EXXI|C|V25
March 28th, 2012 at 12:09 pm
In the meantime, a few airlines are alrady liking the oil news
DAL UAL ALK LCC FAA = the etf
http://stockcharts.com/freecharts/candleglance.html?DAL,LUV,UAL,JBLU,ALK,FLY,LCC,RJET,FAA,PNCL,HA,wja.to,|C|V25
March 28th, 2012 at 12:10 pm
Hi Tony and Eve. Would you please and kindly give your thoughts on Sina. How low this stock would go in your opinion in a week or 2.
Thanks.
March 28th, 2012 at 12:11 pm
Hi Eve
I took a position in RAX @56.88$. Where the stock go frm here?
My greatest Thanks, Ania
March 28th, 2012 at 12:12 pm
Hi Eve,
Sorry, I meant 58.88$. I wish I got lower.
Happy trading, Ania
March 28th, 2012 at 12:13 pm
Tawny: Bond yields will depend upon demand and supply. Apparently, China and India have been dumping L/T US bonds and are not the buyers they have been in the past. Therefore, when the US each week offers their bonds to finance their deficit, if less buyers, interest rates will have to go up to bring someone else in. The Fed will most likely be the buyer at last resort. Even then, longer term US rates will rise. Their deficit to GDP in a couple of years will be Euro like, if it is not already.
March 28th, 2012 at 12:15 pm
Still08,
I agree with you re. the benefits of annotating charts. It’s kind of a visual representation of ones trading plan for the stock. Good post.
March 28th, 2012 at 12:21 pm
Michael, Re#35, thank you, I will continue to watch them. Paul
March 28th, 2012 at 12:32 pm
Still. Great. Me too……annotating. Hate typing on this device. Later
Frank
March 28th, 2012 at 12:32 pm
Hi Ania,
re BHI – yes, I think that is a good strategy – it “might” not fall as low as $37 though as there is strong support at $40 – will depend on where oil goes in the short term as to where BHI finds a bottom. I wrote a more comprehensive post on BHI last night to Brian – it sounds like you read it but if you haven’t, please have a look there for it.
re RAX:
oh no, you bought at that $58 level?? Oh, i wrote last night to CJ that RAX will need to come back to its 4 day MA at $57 level (today was at $57.97 and the 9 day mA is at $57.33 – RAX went to $56.99 and bounced up from there). If you didn’t see my post on RAX last night to CJ, here it is again for you:
Ok, RAX will most likely pull back tomorrow to its 4 day MA which is showing as of today as $57.48 (so, it will be a higher price tomorrow). And after it pulls back to its 4 day, then it may just move higher from there to get to that $60 price – it could happen tomorrow OR it could happen the next day (like on Thursday). If it goes below its 4 day, then its 9 day MA is close by at $57.18 (this price will be higher tomorrow).
So, as long as it doesn’t close below $57, then it should head to $60 in the very near term. There’s also support though too at $56 and at $55.50 and at $55. So, potentially, it could pull back to any of these prices before making a run up to $60. But each pullback it has had in the last 2 months has been met with buying – so, if it gets to $55 area, i would expect buyers to step in once again and drive it back up to get to that $60 level.
The stock has had 3 up days in a row – so, if there is a down day tomorrow to its 4 day MA, don’t worry about that as it will most likely head up the next day after that and try for that $60 (it performed this way the last time it did a strong run up to its high reached – had 3 up days, then 1 down day just to get to its 4 day MA and then up the next day to make a new high – did this about 2 weks ago). It’s been a strong stock – both this year from Jan to March (thus far) and was strong too in 2011 from Jan til beginning of May when it went from $31 in jan 2011 to $48.50 by beginning of May (then started to decline with the markets and hit its bottom at $30/ $31 in October). So, it should stay strong until the markets do their big pull back – whenever that may be – maybe in April?? but maybe in May.
Top of keltner (2.5) right now is showing as $60.32 – so, that could easily be a price target for it in the near term.
It’s also been rumoured for over a year now to be a strong takeover candidate – so, that keeps the stock elevated. It got an upgrade in price last week too to $64 from some US firm.
————————————————————————
It could go as low as the mid keltner which is currently at $55.64 before it bounces up again from there. It all will depend on what the markets do next week as to where RAX goes to in price. There’s strong support though in the $55 area and in the %54 area and in the $52 area. Come May when the markets should have a good sized pullback, RAX should go back down to around $48 to $50 area as $48 was its break out level and it will want to test that point before it goes higher – it did the same thing too in May 2011 – sold off to its break out point of $38 area – and eventually went down to $30/$31 in the Oct lows of the market.
Hope this helps Ania
Eve
March 28th, 2012 at 12:46 pm
Hi mc,
re SINA:
Hard to say where it will finally bottom before it starts moving up again by a significant amount. But as I watch this stock daily, I can tell you that when stochastics gets to oversold zone (as it is right now), SINA often bounces up from there (as it did yesterday). Options for this week ending are showing SINA to be going to $70 or $72.50 – HOWEVER, in past weeks, SINA has not ALWAYS gone by the end of the week to where its weekly option price was showing – so, that may not be a reliable thing to look at right now – BUT, SINA can move up REALLY quickly to get $70 or $72.50 (in 1 day alone from $64 area for example) – so, conceivably, it could still go to $70 again by Friday.
For support levels:
there is strong support at $64 area and at $63 and at $60 and at $58 (IF it got into the $50′s again). SINA also likes to sell down to where RSI is in the red zone *so, below 30 – or just touching 30) and right now RSI is at 43. SINA often respects the bollinger band – and right now, the bottom bollinger is showing at $65.50 – so, it could go back down again into the $64′s (where it was yesterday) to test there to see if it can get a bid to go higher again (like it did yesterday).
There’s also a pivot support at $62 and the keltner 2.5 bottom is at $59.52.
One troubling thing on the chart though is that it looks like a potential “M” formation – and so IF that formation DOES play itself out, then SINA could go right back down to that $47/ $48 low it hit in January and in Dec 2011. Where it goes to in price will be dependent upon what occurs in the China markets AND in the SPX/ Nasdaq.
So, unfortunately, there are A LOT of different price points SINA could get down to before it bounces up from there – BUT, from looking at its past performance AND if China markets don’t roll over here, then SINA should start going up again once it gets down to around that $64 area or possibly to $63 – at that point, RSI may be close to that 30 zone – and each time it has gotten there, SINA has jumped up in price. Here’s the chart I’m looking at with the possible “M” formation on it:
http://stockcharts.com/h-sc/ui?s=SINA&p=D&b=7&g=0&id=p21930313395
Sorry I can’t be more definitive than this on SINA – it is sometimes a hard stock to predict. Hope this has somewhat helped anyway mc
Eve
March 28th, 2012 at 12:47 pm
Thanks Eve and Tony, … for your help last night on BHI, I am still holding off
March 28th, 2012 at 12:51 pm
Hi Eve,
I was wondering how much weight you give to the presidential cycle versus seasonal patterns. If the election year pattern does unfold then it will significantly skew the seasonal patterns. Do you have an opinion on this?
March 28th, 2012 at 1:01 pm
Tech Talk,
You posted a very interesting chart today, “Dow Jones Industrial Average, 10 – Year Cycle Seasonality”. I can not find this chart at Equity Clock. Would you please direct me to the location of this chart? Should we follow this chart rather than the “Dow Jones Industrial Average, Election Year Seasonality”?
Thank you!
March 28th, 2012 at 1:07 pm
Eve,
Thank you for your answers for my questions on Monday.
Are you trading HVU today?
March 28th, 2012 at 1:10 pm
Trading Rule #= 25.3.1 –> Don’t fight the tape.
Mama’s Rule of living # 17.4 –> Dont look a gift horse in the mouth.
http://stockcharts.com/freecharts/candleglance.html?NBR,DO,BHI,NOV,OIH,RIG,HAL,ESV,RDC,ATW,PD.TO,ESI.TO,|C|V25
March 28th, 2012 at 1:19 pm
Hi Ron/AB,
To be honest with you, I hasven’t been in the markets long enough to give any weight or not to any of the Pres years (I only started this stuff in 2009
). What I can tell you though is that I posted last year and this year (about 6 weeks or so ago), that copper stocks were not keeping up to the price of copper – and this suggested that copper would be coming down in price (due to STOCKS “leading” the commodity) – and as copper is supposed to be a guage of how the economy is doing healthwise, then if copper is coming down in price (as the copper stocks have been suggesting – and as copper now seems to be following through with), then it suggests that the health of the economy cannot be as great as the stock markets of US (with their recent substantial gains) have been telling us they are! So, with that in mind, then I feel the SPX will be doing a pull back this year by a substantial amount BUT that because it is an election year AND due to being flat last year, I feel that by the end of the year, the SPX will have gained double digit gains – which means, ending the year around the 1400 level – the year started at 1260 – so, a 12% gain would end the year at 1411 – and over 2 years, this means an average return of 6% each year – and that’s not bad given all the issues there are in the world right now with Europe and with China slowing down – and of course with high oil price and how that will negatively impact the US consumer and therefore, the US markets as a whole. Also, of the 78 or so companies that have given guidance on their earnings for the upcoming quarter, 70% of them have given estimates that are below the expected estimates of the Street – so, if that comes to pass, then when they start reporting in April, that should have a negative impact on the markets – but in the end, I feel the markets will be up by double digits – I just think it will be choppy in the 2nd and 3rd quarter of getting there.
Last year, that presidental pre-election year was supposed to be fantastic for gains in the US markets – and that as we know, never panned out. Also, copper seasonality last year didn’t pan out either (for the copper stocks I mean as they didn’t do well in March through to May which is their seasonally strong period). So, lots of issues in my observation of the seasonal tendencies for both the markets and some commodities and cycles too (like the Pres cycle) in the last year – so, I guess we’ll see if this year does prove to be different.
That’s all I really tell you Ron – sorry I couldn’t be of more help.
Eve
March 28th, 2012 at 1:22 pm
Tech Talk, Eve, et al,
I am curious as to how the presidential cycle affects the TSX index. I have never seen a chart of this but in general I assume that if the S&P/DOW are sharply lower that the TSX would be dragged down with it. To try and analyze this further, I looked at a chart of the US dollar index during an election year.
http://seasonalcharts.com/zyklen_wahl_usdx_election.html
Assuming that the resource heavy TSX index will act inversely to the US dollar, then I wonder if it is fair to expect that the TSX may underperform until mid May where it reaches some major support area and bounces into the first week of April, then continues lower until the 4th quarter (end of August). Any comments?
March 28th, 2012 at 1:25 pm
Michael/Tony/Ron/AB or anyone:
Do you think selling is over, S and P 1400 now, do we go to 1390 today. I am thinking of selling shorts and buy SNC and POT. Appreciate your comments.
March 28th, 2012 at 1:27 pm
Hi Ana,
No, not trading anything today as I woke up this morning not feeling well – so, I took some tylenol 3′s and went back to bed – but had to be up at lunch time as my nephew was coming for lunch. This afternoon, I have my yearly physical (so, I have to start getting ready soon for that) – so I can’t do anything today with the markets really as I wasn’t able to watch them all day today.
I won’t look at HVU though until the markets start to REALLY decline and shows that it looks like it might be a trend (like what occured last year) – so, that might not come to pass until 2013 – so, I may not even bother with HVU until 2013 as HVU works the best when the markets are trending downwards for several months (as they did last year) – maybe they’ll trend down in Q2 and Q3?? don’t know – but until i see it, I won’t touch HVU. HVU would need to get decisively above the mid keltner for me to look into buying it.
eve
March 28th, 2012 at 1:27 pm
Hi Eve,
Re: BHI & RAX
Thank you for your insights. I will follow through with the information To re-enter BHI.
Happy Trading, Ania
March 28th, 2012 at 1:37 pm
Rol Lew,
Thanks for mentioning StockScores yesterday.
What an amazing amount of info there, for free!
I’ll be studying the site this weekend for sure.
March 28th, 2012 at 1:40 pm
Ron/AB
My thinking is that the market might sell off for a couple of days, giving it room for the end of month / beg. month trade, then go down more continuously again a few days into April. Based on? Nothing but intuition! LOL
March 28th, 2012 at 1:45 pm
Hi Eve,
Re #52 – Thats’ a great summary overview. I totally agree that the pres cycle last year was not accurate at all. The abnormal euro economic situation last year could have been the reason the market did not do as well as in a normal pre-election year. So that is why I am not completely ignoring the pres cycle just yet. Also the TA for the S&P that you talked about fits well with the election year pattern (i.e essentially correcting soon as it is overbought now, then retesting highs which would allow for a strong 4th quarter). Anyways, thanks for taking the time Eve.
March 28th, 2012 at 1:47 pm
Wanted to sare this from BNN this morning:
Charles Nenner interview – Nenner works with “cycles” regarding commodity prices and stock indexes prices – he stated that the SPX should bottom out next week and then move up until April 19th to his target high for the year of 1449. I wrote a few days ago that I see the SPX going to 1440 as that was a significant price point in the 2007/ 2008 time frame – and I wrote that IF it can surpass that level, to then going to 1460 which is its next significant price point high from 2007/ 2008 time frame. So, those price areas are in line with the areas the SPX goes to this year according to Nenner’s cycle analysis of putting the SPX high at 1449 as of April 19th. So, between 1440 and 1460 could be very achievable targets for the SPX for this year (as the high). Here’s the video of the interview:
http://watch.bnn.ca/business-day/march-2012/business-day-march-28-2012/#clip646638
Eve
March 28th, 2012 at 1:50 pm
Ron/AB and Ania,
Glad to help
And thank you Ron! And yes, I agree with you on that
eve
March 28th, 2012 at 1:51 pm
Tony,
PCX, Are you a buyer again here? Testing support again at 6.00.
March 28th, 2012 at 1:59 pm
Hi kay. I can’t tell if the selling is over. Mr Market is in a very grumpy mood. As for SNC, this week’s euphoria seems to be over. As for POT, the good news is that the 4-day just crossed above the 9-day MA on the 5-day chart, and a gap around $45.55 closed this morning. But since I don’t trust this market, I probably wouldn’t be buying at this moment.
March 28th, 2012 at 2:09 pm
kay
Out of HVU at 4.85.
In crude oil.
March 28th, 2012 at 2:11 pm
Ana,
great call today on oil (going lower) and HVU. Did you come out and go back in today on HVU? like you said – another 20% day – fantastic! I’m out.
March 28th, 2012 at 2:12 pm
Eve. Thank you very much. Wish you all the health and happiness in the world.
MC
March 28th, 2012 at 2:14 pm
Michael: Yes euphoria is over with SNC atleast for today, according to Larry Berman there was a reversal candlestick few days ago and a lot of buyers got on board, however, he mentioned (I think) it would be a good trade for a week or two. Also, tomorrow is the day when buyers get on the board for the monthend, but maybe they have already done so. Thanks for your comments and have a profitable one.
Ana: Thanks for the update, also out of shorts for the day. Good luck with your oil trade.
March 28th, 2012 at 2:17 pm
Start of the Mother of all Bear Market? or
Another buying opportunity for all those momo stocks – testing short term supports?
I know, for sure, that time will tell
Still08 – post#34 couldn’t agree more with you! Keep away from the memory strain…esp. if one is a short term trader. Writings reminds you about your own thought process & analysis.
Eve – good postings in past few days! Keep up the good work…hope you feel better.
BJ- If I can add: Why bother with something in a downtrend? look at KOL,BTU,PCX,CLF,ANR…unless you want to go short. BHI,HAL,SLB & OIH, all golds & silver: same story!
Michael- About the ‘gaps’ – heard from Ross Healy that generally within 3 months most gaps tend to fill. Since you’re a believer in the ‘gap filling’ theory, thought of mentioning to you – you might very well be knowing this already.
CJ – hope your trip to PMH was fruitful. Take care.
Slava – covered my LULU shorts with profits & came very close to buying but didnot get a fill. I’m sure you covered yours B4 hopping onto the flight.
And lastly, keep watching SNC.TO,CG.TO & LGF for some fast money.
March 28th, 2012 at 2:18 pm
Ray-K
Thanks for your comments re bonds & debt… back at you
http://www.zerohedge.com/news/us-issues-new-5-year-bonds-lowest-bid-cover-august-sends-total-us-debt-over-156-trillion
March 28th, 2012 at 2:27 pm
sky,
Thank you sky.
I did not hold HVU over night. I usually do not hold overnight, unless I think there is a strong trend. I think personally that this is profit taking. HVU went up to the 9MA. I believe that was all we could expect for HVU, for one day. I am happy with my return, if it goes higher, I do not care. I like to sell when something is going higher, instead of lower.
Crude having a nice bounce here.
March 28th, 2012 at 2:28 pm
Tawny,
Re. #26 Bradley Siderograph
Excellent observation…US is above all, it proves!
Currency war all over the world to keep the sluggish growth hitting their own economy.
Will see how long the US rally lasts without much help from Europe, China & other emerging markets. Kudlow’s King Dollar is just another dream to just keep dreaming about…never going to come alive.
Trust your PB is helping you while gardening.
March 28th, 2012 at 2:31 pm
oops…re.#71
should read “Currency war all over the world to keep AWAY the sluggish growth hitting their own economy.”
March 28th, 2012 at 2:38 pm
#55,
Thank you Eve, for your honest answer. I have learnt to be a much more calmer trader by finding out that you are not in the markets everyday. I think that this is a very important lesson for me to learn, so I thank you.
I do hope you are feeling better. I am looking into a new spinal treatment. I will let you know if it has worked!
March 28th, 2012 at 2:40 pm
Hi Kay,
I agree with Michael in that I don’t trust the market now. Most swing trade opportunities I am seeing are counter trend swings within a downtrend, so they have limited upside. Also when I do spot a swing trade opportunity, I am not seeing very much follow through (i.e. confirmation that signal a buy).
SNC.to is a gamble in terms of a trade. It is cheap relative to where it was trading but the story surrounding the company is ongoing. It may be OK as a long term holding.
POT.to is closer to resistance then support. I would wait.
March 28th, 2012 at 2:41 pm
gmsa
Re #71… yes, we have to give Bradley credit and we cannot say it was a miss….; this world is made up of more than the U.S. and all of North America. I have taken my P.B. outside… need to learn it more… I want to get Firefox up and running on it if I can… haven’t had time to even figure out how to refresh my stockcharts . So little time, work on markets, garden and home, etc. etc. etc. Oh to be a male in this cockeyed world!
March 28th, 2012 at 2:41 pm
Ana,
could I ask about the treatment?
Thanks
March 28th, 2012 at 2:43 pm
Hi gmsa. Indeed, gaps are meant to be filled (about 75% of the time within a few months). If you look at 5-day charts, they are often filled (but probably at a lesser rate). However, this theory isn’t as reliable with leveraged ETFs or penny stocks. It’s so good to know that Ross Healy is following my thinking!
March 28th, 2012 at 2:44 pm
Ana:
New spinal treatment? Please let me know details if you get some relief. I would appreciate that.
Have fun.
Frank.
March 28th, 2012 at 2:53 pm
Ana,
yes, I agree with you on HVU. You are an astute trader!, I know that you will probably say that you are a focused one….definately that also.
Crude looks good – got to get thru this area and the next one (105.58 ish) of heavy resist so that we can get to S2 and then….?
March 28th, 2012 at 2:55 pm
Tawny, Ray-K, gmsa, anyone else who cares to comment:
The US is bankrupt and I have been telling people this for about 6 years. First we deal with the lesser lights in Europe before they even speak about the largest economy in the world. It will take years to play out, but in the end may happen quickly. For now, they will try to keep pumping stocks up while the powers-that-be slowly dump, one sector at a time. The “End Game” will be very interesting.
Have fun.
Frank.
March 28th, 2012 at 2:55 pm
Tawny,
I was being sarcastic when wrote US is above all…
Bradley turn date did bring big weather changes all over, sudden warmth here in NA & unusually high temp.in many parts of the world!
It’s just the pump time for them to make up for their losses – market makers that is- as they know that Obama is likely to win & their Tax credits (George Bush gift to the rich) might die later.
Once all are sucked in they will spit it out.
After 2 weeks of commodity pumping all over the US financial media, today GS came out with dovish commod. outlook, really?
March 28th, 2012 at 3:06 pm
gmsa – I know you were kidding!
and Frank, and Ray, and all
Europe Leaks It Will Fix Crushing Debt Problem With €940 Billion Of More EFSFESM Debt
http://www.zerohedge.com/news/europe-leaks-it-will-fix-crushing-debt-problem-%E2%82%AC940-billion-more-efsfesm-debt
I also read yesterday that the U.S. was buying European bonds.
They can’t believe this is all going to work out, can they? So they think we peons will just believe all is well, for now and that’s all that matters. Japan is also in huge debt… and I understand that it will take very little rise in interest rates to bring the Yen to its knees… so what are they hoping for, please. (rhymes and I’m just being rhetorical)
March 28th, 2012 at 3:26 pm
gmsa,
I agree with you somewhat, but if this is a double bottom and you buy here at the 6.00 level; put in a tight stop at say 5.93, isn,t your downside risk small and maybe you can book a quick gain back to the downtrend line at say 7.00? I,m not sure of any of this, so please anyone respond.
March 28th, 2012 at 3:27 pm
Frank,
re.#80
Back in 90s Barton Biggs was a big name in macro analyst community. He called for shorting 10yr. Japanese Govt. Bonds when they were @8% and I guess they went something like 2.5% onces their realestate crashed & so did their stock market. They have been artificially keeping their currency low to benefit their huge export sector.
Well they are facing a huge demographic headwinds as well & their immigration policy has not changed to bring in younger work force.
By the way, in Japan there are more Adult Diapers sold than the diapers for kids.
At least US is lucky comparatively speaking, but still not prepared at all for the ageing population. Are they following the same path to the ruins? who know but time will tell. Currency printing is bringing misery to common man there and poor thing they themselves have no idea. USD has been losing it’s purchasing power. No wonder FDO & DLTR stores are springing up everywhere. US will need some major conflict or even a direct war to sell weapons & related technology to the world to get out of their really really deep hole of deficit. All those US Corporations are hoarding cash outside of US as their executives don’t want to lose the relative wealth by bringing them into US where there is not much growth left, apart from financial engineering where US FED itself is setting up a bad example.
Apart from Bradley Dates, Mayan Calender End will be an interesting event.
.
Michael,
re.#77
You never know he could be taking leads on ‘gaps’ from your posts!
Watched SLW closely but GLD/SLV didnot give me any encouragement…EDR.to/EXK shorts still working. Once they stop working I will go into slw. Are you still in slw? thx.
March 28th, 2012 at 3:27 pm
Been taking care of kiddo eye infection is getting better.
Anyone noticed spx price vs 4MA,
yes yesterday it didn’t tag the 4MA,
March 28th, 2012 at 3:34 pm
Frank: I agree with you. That’s why I am a day trader and not an investor anymore. How can one trust a market that is fueled by the Fed? and there are so many cheerleaders on BNN and CNBC. As soon as they get the last retail investor to join this rally, then it will change. I will play the trends for now and not fight them as that would be idiotic. There will come a time when the best play will be to short this market. When? Who knows? Might be this May or not. We’ll know. Look even today. The primary dealers are busy to ensure that they don’t have a triple digit decline.
March 28th, 2012 at 3:37 pm
Ray,
are you going for that oil swing with the 104.67 low in today or waiting for another test…?
March 28th, 2012 at 3:42 pm
Ray, sorry – that was swing trade…lol
March 28th, 2012 at 3:47 pm
Eve,
ODP Back on Mar.9th I bought this at 3.21 after it pulled back from the gap up as per the strategy you suggested and sold it on Mar.23rd at 3.60. Looks like I sold it a bit early; anyway, Thank You muchly for the heads up on this strategy.
Bought WPRT today at 42.36. Could have done better on that if I had been patient.
March 28th, 2012 at 3:59 pm
gmsa – an update for you on Japanese bonds:
Mrs. Watanabe Prepares To Blow The JGB Bubble: Household Holdings Of Japanese Bonds Slide To Lowest In 7 Years
the last bastion of JGB ownership, Japan’s households, have started to shift out of bonds, which are now yielding 0.27% for the retail 5 Year bond, and about 1.00% for the 10 year, and are now putting their money straight into mattresses.
“Individual investors are holding cash rather than bonds and other financial assets because they are wary of making risky investments, said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo.” Needless to say, when even Japanese households have given up, it’s game over… for bubbles in both bonds and in “conventional wisdom.”
Full story ….
http://www.zerohedge.com/news/mrs-watanabe-prepares-blow-jgb-bubble-household-holdings-japanese-bonds-slide-lowest-7-years
March 28th, 2012 at 4:02 pm
Ray-K
I certainly understand why you are day trading…. best way to go. And when you are done, wifey has the dinner on soon and you can sit back and enjoy! Not so with most of the women traders – need to fill so many different shoes (maybe that’s why most women have so many – shoes, that is!) Gosh, if day-trading didn’t take up so much of the day and it is so very, very draining!
March 28th, 2012 at 4:03 pm
Tony:
Saw your note to me late last night and set up a limit sell on TD.TO filled at 84.99 this morning while I was out gadding about…. it did dip quite low today BUT closed 10 cents higher than I sold it for (Silly Market) – I was hoping it would drop down considerably and I could get back in for another ride up and maybe get the divs as well.
The rest looks like a bloodbath only BA.TO (+4cents) and TD (+1cent) are up – everything else – more red ink!
Back on the road now – will total up the damages late tonight!
March 28th, 2012 at 4:03 pm
sky: I played SCO today three times and this aft, I took a position in HOU for a swing. Although, I don’t normally trade this ETF, I bought it in my TFSA with Cda funds. At the $104.50 level, I am bullish based upon the last 5 weeks of highs and lows. In the next two days, I will most likely add to both UCO and HOU if conditions are ripe. I would like to see a retest or a move higher in the a.m. tomorrow. If a glut of supply and talks of reserves can only move oil down a $1.80, then there are major underlying factors that are pushing crude higher. Printing $, lower $US, and the big one Iran. Plus Goldman, the experts (I think that’s what they call themselves) are long WTI.
March 28th, 2012 at 4:45 pm
Ray,
Yes, tomorrow should be interesting. I am long also.
Funny you should mention GS is long – I saw this today:
Trading Crude-Oil Timespreads For Fun, Profit
Published: Mar 28, 2012
(Dow Jones) To profit from rising oil inventories at Cushing, Goldman advises a short position on May-June 2012 WTI timespreads. For the non-oil wonks, that means short May WTI and long June WTI — a bet that profits as oil pours into the Cushing oil hub and depresses the price of front-month WTI vs later months. Cushing inventories have been rising steadily for months amid rising North American production and weak demand. “We expect Cushing inventories will rise sharply in the coming months, putting downward pressure on WTI timespreads,” firm writes.
So we oilers are really wonks….eh…
March 28th, 2012 at 5:21 pm
CJ
I think you miss understood me, td trailing stop at 18MA would be at 83 and change as long as it goes up your safe you don’t want to be kicked out for no reason. only if price fails to go up.
March 28th, 2012 at 7:29 pm
Here we go again
Same old, same old, bla, bla, bla……
Just listen to Mr John……… What a nerve he’s got!
http://seekingalpha.com/article/462471-learn-to-embrace-losing-and-you-will-make-more-money
March 28th, 2012 at 9:27 pm
rol lew
he is only saying to cut your loss early so you don’t get trapped later with a bigger loss.
not long ago I crossed an old post from slava, and her cmg short, her loss back in feb was 8K and she said she was getting out. She decided being stubborn was better, and took a 18K $ loss.
March 28th, 2012 at 10:05 pm
SINA versus $SPX;
http://stockcharts.com/h-sc/ui?s=SINA&p=D&yr=1&mn=0&dy=0&id=p36930452387
March 28th, 2012 at 10:09 pm
SINA versus $SSEC [Shanghai Stock];
http://stockcharts.com/h-sc/ui?s=SINA&p=D&yr=1&mn=0&dy=0&id=p01192223929
March 28th, 2012 at 10:53 pm
Re: US Bankruptcy: Thanks for the comments and links. There will come a time, but not right now. It’s amazing how the investment philosophy has to change to hammering the stocks you know will do well, to now , being nimble, trading, taking some profits and eventually waiting for the rug to pulled out from under the markets. Let me leave you with this, from Austrian School economist Ludwig von Mises:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion,” Ludwig von Mises wrote in 1949 in Human Action. “The alternative is only whether the crisis should come sooner in the form of reccession or later as a final and total catastrophe of the currency system involved”.
Think of all the countries that are desperate to keep their currency down for fear of losing out on some trade. They are truly in a race to Zero. Which ones actually get there and which ones get close, who knows. I have my charts and educated guesses, but nobody knows for sure.
Have fun.
Frank.
March 29th, 2012 at 12:13 am
Frank
Scrolled around but couldn’t find the “comments and links” you mentioned so I’m not sure what you are responding to, however, not knowing the works of Von Mises, in general terms, the “Austrian school” has a rep of being fairly draconian – “let it all collapse and rebuild it from there”. I oversimplify of course. And, indeed, most of the reading I do suggests collapse is immenent, quite simply, the only thing that keeps the U.S. from being Greece is the fact that, for whatever reason, their currency is considered to be the world reserve currency. Hence, people need it for international transactions. But, interestly, their share of the reserve currency has diminished by over ten percent in the last ten years. More and more trading is going on in non-U.S. denominated funds. If they lose the aura of being the reserve currency – as it would appear may happen should they continue to devalue, and thus their currency weaken and thus become less appealing to foreigns to buy (as would appear to be the case with China already), are we not very quickly approaching the “austrian” analysis that you suggest? I think over the next few weeks/months it will be quite interesting to see how sales of treasuries go. I hope we can get a sense of who is buying them – China or the Fed.
I would be very interested to get your take on the above.
March 29th, 2012 at 12:39 am
Hey, Neil:
Brazil, China, India, even Iran and many other countries making their own deals. They figure, why use those depreciating “Federal Reserve Notes” backed by the full faith of the USA. Personally, I have no faith in the them. When it was, Saddam Hussain that announced he wanted payment in Euros instead of US dollars, the US attacked within a short time. But, now it’s getting to the point that they can’t stop it. They are just stalling the inevitable. China is practically the decision maker, sitting on $3 trillion US dollars and bonds. They don’t want them to become toilet paper overnight so they continue the game for as long as it suits them, while accumulating resources and other stuff they require.
Crap, I could go on and on and on. It will take some time to play out, but Bernanke will not move rates up because he wants to. One day he will be forced to do so. Imagine their debt and how much it will cost once rates go up in the future. In my eyes anything that is unsustainable, is also inevitable. Just a matter of time.
I mentioned earlier that people thought I was nuts when I started talking about this stuff 6-7 years ago. Anyway, we still need to protect ourselves , and it is difficult because there is that outside chance that we get deflation before inflation. Of course there would have to be a new government and a new Fed chief. I don’t think they will change gears. Bernanke will print money to infinity.
Have fun.
Frank.
March 29th, 2012 at 1:25 am
Frank
As long as the republican continue to think they are the center of the world,and their no tax hikes policy as prosperity will live on forever. they will sooner then later be hit with a reality they will not like the outcome.
China is not stupid at the price bonds are worth they could easily slowly sell their bonds if you buy them at 100 and sell them at 115 thats more then the what it initially yielded.
As long as US uses its housing system as an ATM machine(since they can simply deduct interest rates from it) the will end up in worse s… then they can imagine and its no master or ph.d that will get them out of the mess they are into.
March 29th, 2012 at 1:38 am
Damn I hate when I think and become a genius,
everyone is talking about the end of the world 2012, wouldn’t this be the end of the financial world as we know it
What does bradley date foresees,for a currency as a reserve.
We can forget the EU $ as currency reserve, and china has not officially established itself (as they are too greedy and are playing by their on rules)
Canada has a tendency of selling itself short,
UK been there done that but is in the same boat as the rest of the world. Who’s left?
Brazil or Australia…
March 29th, 2012 at 1:44 am
what a dumb A$$ I am
just remembered in EU they say its India the next power house on the stock market.