Dear Friends,
Here is Wednesday's Flashnews.
Wednesday’s trading range of all major markets
Dear Members,
Monday and until mid Tuesday commodities remained up as predicted. This is what we mentioned in yesterday’s flash:
Monday all major markets remained in sideways directions as predicted. Tuesday we see positive trend in market in Asian and European trading session, around 12.00 Noon NY time (Moon changing house) markets will start giving up some gains and USA may close flat or bit weaker.
Oil came down and may trade weaker.
Precious metals has very limited upside.
Stock markets also trade in tight range.
Grains and soft commodities will remain positive directions, watch weather pattern closely. Tomorrow USA market is close, so avoid any position in markets. This week we don’t see much happening in market but surely metals, energy and stocks will bit weaker from late Tuesday.
Today USA markets are closed, grains and soft commodities won’t trade. Metals and energy will be trading in electronic marker. Asian and European stock markets are open.
I highly recommend staying away from metals and energy. Markets are expecting too much from England and EU central bank meeting. We hope they won’t disappoint market otherwise everything can turn back on downward. Our Astro indicators and planetary movements are not giving any happy sign and that’s clear that EU central bank may not cut rate and England central bank won’t put 60 billion in market. If this happens then gold and energy will fall sharply, stock markets will also react negatively and currencies will fall.
Our advice: In our weekly newsletter we already mentioned weaker trend from Wednesday in metals and energy and until Friday markets commodities and currencies would trade negatively. Gold will struggle to trade above $1628 and oil $88.65, down side is minimum 5% from these levels.
In this week newsletter we predicted corn and wheat reaching $1000, so don’t short grains.
Take some profit in markets, hold call options if you are holing longer term call in S&P as our view is very bullish for S&P and emerging markets.
METALS
Here is Wednesday’s range:
GOLD: $1625.75 to $1606.80
SILVER: $28.53 TO $27.79
COPPER: $357.80 TO $350.10
PALLADIUM: $603.00 TO $592.90
PLATINUM: $1503 TO $1478
SOFT COMMODITIES
Coffee and cotton traded positively as predicted. Today soft commodities won’t be trading.
INDEXES
Markets will remain tight range but we may see some Book profit later today.
Wednesday’s trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4216 to 4178
NIKKEI – 9175 TO 9089
NIFTY S&P (Spot) – 5323 TO 5275
SINGAP0RE (cash) – 2970.7 TO 2943.00
HONG KONG (cash) – 19860 to 19675
CAC – 3288 TO 3250
DAX – 6615 TO 6535
FTSE – 5659 TO 5620
S&P – 1373.75 TO 1360.50
NASDAQ – 2650.5 TO 2526
RUSSELL – 818.50 TO 809.25
DOW – 12905 TO 12815
GRAINS
Tuesday grains moved up as predicted. Today grains markets will remain close.
ENERGY
Sell oil around higher predicted price here below. Energy and bond will be trading only in electronic market.
Wednesday’s trading range:
OIL: $88.27 to 85.25 August contract
NATURAL GAS: $2.97 to $2.81 August contract
TREASURY BOND – 149-05 TO 147-20 (Sep contracts)
CURRENCIES
Buy dollar on weakness, Wednesday currencies will be trading in electronic market but there won’t be any volume. Indian rupee call remained best of the best call in medium term predicting theory. Rupee gained from 57.20 to 54.00 in just four trading session. Last year we predicted that Rupee would reach 57.00 when it was 46.00. Two weeks back we advised taking position as we saw its coming back to 53.00. This have sold around 57 should book profit today and tomorrow as dollar may gained from mid tomorrow against all currencies.
Wednesday’s trading range (September contract).
DOLLAR INDEX – 82.05 to 81.59
AUSTRALIAN DOLLAR – 1.0259 to 1.0182
CANADIAN DOLLAR – 0.9897 to 0.9835
BRITISH POUND – 1.5751 to 1.5633 (sell)
EURO – 1.2670 to 1.2565
JAPANESE YEN – 1.2590 to 1.2503
SWISS FRANC – 1.0565 to 1.0479
RUPPEE – 54.05 TO 54.52
RAND – 8.10 to 8.01
What we mentioned yesterday still hold same predictions - July is still an uncertain month, so book profit or sell on any sharp rise and you will make money in short term trading. Mid-Tuesday will be the right time to get out of metals and energy.
Avoid grains trading as they can move as per weather conditions. Soft commodities look like a better deal.
Any time from today life membership rate will go up.
Thanks & God Bless, Mahendra Sharma, Wednesday 9.30 AM, Mumbai, India