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Critical Market Week Ahead
Posted on 09/25/2006 16:40:45 | Link | Post Comment
0920 EDT Monday July 17, 2006
Good Morning: Following another down day Friday, we could be gearing up for some kind of reversal this coming week in what could turn out to be a significant and meaningful turnaround, but depends somewhat on geopolitical events and also earnings results. Still, it is now becoming increasingly clear that the Fed may be done raising rates, especially as there is a considerable risk that Oil prices could surge beyond anyone's control and thus would act like a tax cut or multiple rate increase in of itself, further dampening economic activity and is something we warned about some time back of the dangers of the Fed not factoring in the looming possibility of an exogenous event that could have serious and significant detrimental economic consequences. On top of what we have now other exogenous evens could unfold:
Therefore we have to tread carefully this coming week to try and see which way the wind is blowing and whether the possibility of a really significant turnaround exists or whether it is down for the coming week and rest of the month. Even though Oil has pulled back some early this morning, it could still surge to new highs both on Asian demand or disruptions. Should this be the case, we could still see Gold and Silver rebound and in the case of Gold, there is an outside chance of Gold rising substantially higher perhaps through the $750 level or even $800. Reports from several investment houses report investors are seeking longer term call options on Gold at $1,000 per oz and even higher and we have already reported how Russia and China are particular is believed to major buyers of bullion. Another well respected analyst reports his proprietary Silver analysis is registering all time high exceedingly strong bullish buying signals at this time.
Trade Well
From theDesk of Savant
ps/ This report sent to subscribers on Monday morning was delayed in being posted to this column.
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