Dear Friends,
Here is Wednesday's update.
Dear Members,
Metals just started trading positive before FED decisions, higher side gold can touch $1560 and silver $36.88 and these are good prices to sell metals as current time in metals are not good at all and today’s rise can be fake rise. In the next three months gold can fall more than twenty percent. Metals stocks are great short at this level. Correction in gold any time due and it will sharp without any warning means gold will fall suddenly so you have to be very careful.
Oil weaker trend will start from later today as mentioned in newsletter, we stated that from late Wednesday great time to sell oil. Sell oil around $95. Natural gas will remain in trading range of $4.44 to $4.23 so looks like gas will remain weaker.
Stock market will remain sideways for weaker from Thursday. Book some profit but hold alternative energy and Potash stocks. This week we mentioned S&P will touch 1293 which it did today so now time to book profit.
Grains will remain sideways trend, avoid any buying position in grains. We mentioned in this week newsletter that grains would remain positive on Monday and Tuesday but from Wednesday they would fall. So, from later today or tomorrow grains will start trading weaker.
Soft (coffee and cotton) commodities will trade weaker so avoid any bigger trade, but cocoa will trade positive.
Currencies will move down against dollar, this is one of the best time to accumulate dollar. Sell Swiss Franc at 1.1990, buy dollar Index at 74.90 and other currencies like rupee, rand and Australian will fall sharply as well. Pound will keep moving down.
I clearly see that Chairman Bernanke will do great job, as we will like his astro chart. From 15 June his chart turned more positive, aslo USA is entering into rising cycle from here onward.
Thanks & God Bless
Mahendra Sharma,
Sent - Tuesday 10.30 Am New York Time