Friday, 21 August 2009
Fridays update;
Dear Members,
After one of month fasting for spiritual reasons, today we did "Mahayagna". I was busy with this spiritual ceremony and just got free. Yesterday I promised that I will be sending an update regularly, so would like to apologize for today as I was unable to send.
MARKETS ARE TRADING IN NARROW RANGE and looking for directions on either side.
In our newsletter we mentioned that energy would re-bound from Wednesday onward and up trend would remain till end of Friday so take selling trade today by the end of day because from Monday we see sharp corrections in energy.
For metals we predicted up move on Thursday and Friday but they are not trading very positive the way we saw. We recommend sell metals today around USA opening or by end of day and carry forward short position in metals for the next week.
We also mentioned in newsletter that, Saturn is changing house on 09/09/09, and till that day all commodities may able to remain bit positive but after that we are predicting worst period is coming especially for metals. There is no doubt about gold reaching $750, then $645. We are not recommending any buying in metals for the next one year, yes we may buy some time when valuation get attractive or on technical rebound. SELL METALS ON RISE, today short will give you great returns in the next week.
Grains are trading weak, today may rebound but avoid any new trading at this stage. Next week Thursday will be best time for short term buying in grains.
Soft commodities are trading weak, and they will remain weak, sell on rising. Coffee selling paid good money in the last three weeks. Selling sugar around $23 will also provide us great profit.
Dollar is trading weak from Wednesday, still it is well above low of $77.30. it is great buy but their will be short term volatility so weak traders shouldn't buy with high leverage. We still believe that dollar Index will reach $100 by year end. Dollar index may go nearer to lows but today is great day to accumulate around 78.
THANKS & GOD BLESS
MAHENDRA SHARMA