Wednesday, 17 January 2007
Dear Friends,
Few members have asked me to send update which I was about to do tomorrow as today I wanted you to hold your trades in metals and oil. Now it is great that oil is following gold and that is good news for metals investors.
Remember get out from metals on higher side predicted price in newsletter.
Short term oil is looks positive FOR LONG TERM IT IS IN GRIP OF BEAR CYCLE. From here ($50.70) oil may move up to 54.80.
Grains may form top here so today again is selling opportunity in grains during last middle of day. Grains traders should keep in mind that after March bull market in grains. Now it is time to day trades or short term trades. I will publish every day upside and down side price for grains from tomorrow.
Sell at soybean $719, corn $415 and Soy Oil at 2900.
All major indexes should trade weak from tomorrow except USA. Buy USA market and sell European market.
Avoid coffee, cotton, sugar and lumber as recommended in Newsletter.
Today one can sell Treasury bonds.
We were expecting dollar to trade side-way and this slow trend will get over today so expect sharp rising in Dollar from Mid-day of Thursday.
Once again please read 2007 outlook:
Thanks & God Bless
Sharma Mahendra, Wednesday