Wednesday, 21 May 2008
Today the inventory pushed oil towards a new high. I am just wrong by a day but the current volatility makes a huge difference in trading.
Let me confirm here, that I came wrong by calling oil top at $128.80 because in the six trading hours oil went to $135.00. I have received many emails asking Mahendra! what will happen next in oil and my answer is same; a bull market of oil will burst very badly. Don't cut your position once you start seeing prices moving down because it will fall up to $75.
Long weekend is coming and oil producers will feel good if the people fill gas at the current price during memorial holiday. Oil can remain firm up to next Tuesday (Fridays is half-day and Monday is holiday). All commodities are at a very dangerous stage and they are all ready for big fall.
By end of July I will buy gold at around $700, grains at 40% below the current price (except wheat) and oil also 40% below the current price. Sell soft commodities by next Tuesday.
Don't hold metals, oil and grains as they are heading towards the worst correction (worse than March 2008). I call a step fall in metals, grains and oil from any time tomorrow or from Tuesday (1000% sure).
I don't have a doubt in my prediction of dollar bull market, let people to remain skeptic, if they want to. All currencies will collapse against US dollar like they don't hold any value. A historic bull market in dollar one the way.
An uncertain trend in all major international currencies will force international investors to put money in USD and this is the one of reason I am predicting bull market of US equity. Believe it or not Dollar index towards $159 in four years and Euro toward 0.50.
Buy USA equity (Alternative energy, technology and financial stocks).
At this time oil is $134.80, heating oil $3.9544, RB gas 3.4354, gold at $932.10, silver at $18.10 and Soybean at $1358, Bean Oil $63.3, corn at $610, Euro at 1.5754, Ausi 0.9601, Franc 0.9744, Canadian $1.0151 (sell all these) and buy dollar index $72.05. Dow is at 12600 and great opportunity to buy.
After this update I won't put any news on my website until the end of July (except a week old newsletter). Please subscribe weekly newsletter, If you want know weekly trend for all major commodities and currency. Trade with wave of nature.
Buy book (Has details predictions of 2008-09 for world Financial market: http://www.mahendraprophecy.com/orderform_2008.asp
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Thanks & God Bless
Mahendra Sharma, 21 May 2008, Wednesday 9.20 PM Santa Barbara