Dear Members,
The market just opened and losing value, but we are recommending buying NASDAQ right now. Banks and energy stocks are pushing DOW, S&P, and Russell 2000 sharply low. Right now Russell is down almost 3% due to weakness in regional banking stocks.
Currently, Nasdaq is trading around the 13041 level, TQQQ at $27.01, and SOXL at $14.00, These are great bets. One can buy right now at these prices and hold for the next eight trading days which may provide great returns. One can buy call options of mid-May as well if one wishes to lock risk rather than going naked. Today AMD, SBUX, and SMCI will announce earnings and they all look great so take small call options or buy stocks in these companies today or on any weakness tomorrow.
We still believe that FED may go soft on the market if not then they have agenda which is very vicious and bad for the USA to gain personally.
Precious metals are our favorite, stay long or buy on weakness, add more call options in silver. Stay away from base metals as predicted for the next ten days.
Oil will test short-term lows as predicted, oil has been on our selling list. Gas has been on our buying list from this week so don’t miss an opportunity of buying.
Stay away from grains and softs, keep adding coffee and cotton.
Thirty Year bond is on our buying list, go aggressive if prices go to 127-00.
US dollars and currencies are trading as predicted. Day traders are enjoying our ranges.
Must read this week’s weekly newsletter, you will get an overall idea of what is coming in the most uncertain time when banks are in trouble and tech sell-off is continuing.
Thanks & God bless
Mahendra Sharma