Critical Week's End Still Important

Search by tag or site

TheMoneyBlogs
Home
About
Create your own blog
Contact us

My Home About Me

A Global Perspective

The New Global Standard for Wealth Creation

Critical Week's End Still Important

Posted on 09/25/2006 16:40:45 | Link | Post Comment

0920 EDT Thursday July 20, 2006 Good Morning: On Monday we emphasized how critical this week might be to the future of World markets and the US Economy and wrote that 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 and we also commented on the likelihood that the Fed was most likely done raising rates and this theme was echoed by none other than World renowned Bond King Bill Gross, who it seems rather deftly, set off a what became a very significant chain reaction of events, that began just at around 13:58 on Tuesday July 18 and just gathered steam and momentum from that moment forward right into the opening remarks and semi-annual grilling of Fed Chairman Bernanke by lawmakers, who this time around, really laid it on to him, not to overshoot by raising rates too much and to his credit he succumbed to their well placed warning by going soft on inflation and inadvertently became the hero of the day and regained considerable kudos and popularity among investors, who were relieved to say the least and as usual, most were shocked and surprised to witness one of the best Dow performances in years, but not readers of this report or our daily commentary, wherein we warned Monday that a furious rally was coming not unlike the likes of which unfolded just about 10 days after 9/11 and we surmised that a similar rally was virtually imminent in the case of stocks and also metals and even though people were looking at us askew, especially questioning our calls of a turnaround in Gold, Silver and Copper, we went on to explain how the pace of synchronized Global growth is absolutely without precedent and is way beyond anything ever seen before and we should be very thankful for that, as in all likelihood, this mega-train of growth could likely be very well sustained into the next decade and we have not changed our views on the longer term outlook for metals, which we reiterated at the beginning of the week, that even though Oil had pulled back some, it could still surge to new highs both on Asian demand or disruptions later in the year: Gold could soar beyond $750 and Silver could rebound very sharply indeed... Well a 70 cent turnaround in Silver was stunning enough to say the least and definitely tends to bode well for better times ahead as the upside impulses on Silver have tended to manifest themselves of late, just as we also pointed out, that inspite of the relatively mild percentage correction in the stockmarket indices, that feels a lot worse, we have been experiencing these strong impulse waves to the upside recently and that has to bode well for the longer term future towards the year's end. The one major development yesterday, was how fast how fast the worries of overseas conflicts and other threats were virtually erased from investors minds as upside momentum unfolded exponentially. Notwithstanding, we cannot be complacent. It will be important for all these gains to be consolidated or built upon in the coming days, especially into week's and month's end. Failure to do so, would not be good... Trade Well From the Desk of Savant

1 Comments:

: well it took all of 24 hours for the naz to completely erase wednesday's gains

as i recall a few weeks back we had a monster up day similar to weds' action,the notable difference was that the naz was up about 3% instead of the 2% gain registered on weds.

the naz has been very heavy for a little while now; posted by mark @ 07/20/2006 18:23:00

<< My Home | TheMoneyBlogs Home

Add Your Favorite Blogs Here

Examples

Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]

Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]

Millionaire Now! by Larry Nusbaum - Fri Jul 18, 2008 08:23AM
U.S. stock futures rebound on Citigroup results"S&a [read more]