Dear Members,
Last week the market performed very well, and once again frontline tech stocks kept the momentum going. Cancer Mars played a very different role only because Jupiter is currently in the house of Mars. Last week the sun changed its house from Taurus to Gemini, and in the upcoming weekend Mercury will change its house from Taurus to Gemini, which is not a negative combination at all, but I will be anxiously waiting to see how the markets trade during the next 11 trading days. Mars in cancer transiting at 20 Degrees could create some volatility or an unhealthy environment. The good news is that Jupiter is in such a powerful house, that it may not allow any other power to dominate the financial market, because overall Jupiter rules the financial and money markets.
The AI boom is at the starting point, and many are still unaware where the business world, education, and pharmaceutical will advance from here. We are entering the most interesting time cycle of our lifetime. I was feeling the same way when the internet and software boom started in the mid ’90s, and we cannot even imagine how far we have reached in the last 30 years. The worlds dynamic has changed from airports, to banking, to common household accessories, and it’s all thanks to technology.
We are in the most interesting era, and we need to focus and invest our money very carefully, without getting influenced by people who try to misguide us, including the analysts of all the large financial institutions. If you look at Morgan Stanley, Goldman, JP Morgan, etc. statements over the last 8 months, then you will see that their analysts have been talking about a bear market non-stop, and investors who listened to them missed one of the greatest money-making opportunities. In fact, the value of their own shares has been falling without giving investors any returns. These kinds of analysts should be barred from giving their view.
Last week the Dollar Index lost significant value against the frontline and emerging market currencies. We are still expecting the Dollar to fall a further 1-1.5%, but do not expect any major bear market in the Dollar.
Last week grains moved higher aggressively. Corn, Wheat, and Soybean almost moved 10% from the lower side level. Wheat was our top pick and it performed amazingly.
Soft commodities traded mixed without having any major movement, except for cocoa which made a new high.
The energy market held value as expected, and a sharp rise came in Natural Gas. Oil Also rebounded.
30 Year Bond bottomed our as predicted, and some upwards movement is expected in the coming time so keep accumulating Bond.
Last week metals performed mixed, base metals held value, and gold and silver witnessed some buying. Day by day our view is turning extremely bullish for silver, and we clearly see silver rescuing gold in the coming time. Silver is ready for a mega move, so do not miss the buying opportunity, and one can make a great amount of money in the short term from next week.
Last week the CPI data and the FED meeting helped investors’ sentiment, and the June expiry passed smoothly without causing any major issues. This week on Monday the US market will remain closed, but during the middle of the week Powell will be grilled by the Senate and Congress on Wednesday and Thursday, so watch his statement closely. In the next 11 days, we will pass the halfway mark for the year, and I am happy that last quarter our advice was able to help investors invest in the right direction, which was technology.
IMPORTANT NOTE:
I will recommend investors to continue to hold long positions in stocks like NVDA, but one can book profit in the other stocks and indexes. We are still not recommending any major short positions in frontline stocks like NVDA, META, MSFT, GOOGL, AMZN, and IBM. From here onwards any weakness should be taken as a buying opportunity. The markets may not fall more than 5% in the remainder of 2023, so keep this in mind. We may witness some profit booking or selling pressure during the next 10 days.
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Thanks & God Bless
Mahendra Sharma