Thursday, 10 August 2006
Daily update of market, Alert for tomorrow (Friday).
Most commodities remained quite weak in the last twenty four hours and yes they should reamins weak. There is no surprise in metals as that is what I expected to see; the surprise is in oil, which sharply went down with unleaded gas. What I can confirm is that its short-term bull market trend is over. One must also keep in mind that l have been predicting that the longer term bull market of oil is almost ending.
Metals will trade weak, but sell on New York opening. A dry period is starting for metals and prices may gradually move down, therefore trade accordingly.
The Stock Market will remain side way today so trade accordingly.
Currencies should move down against the Dollar. Watch the Canadian dollar, Swiss Franc, Yen and the Pound. Buy the dollar index- the train hasn't yet left the station and there is still time to catch it.
Alternative energy stocks will be my favourite area for the next four years, just like techonlogy was in 1995/96.
Grains are weak and yes they are but I still see a major bull run on the way for the next six months.
I wish you good luck. Enjoy your weekend.
Thanks & God Bless
Mahendra 10 August