I have returned from my twenty-day holiday. To begin with, I would like to apologise for not being in touch for that duration. I am now fully available though I may not be able to respond to all the pending mail. I shall however do my best to answer your enquiries as soon as possible.
Last week, currencies and oil gained strongly against the dollar. Gold and silver traded in range while coffee, grains and bonds gained handsomely as predicted. The stock market is in the grip of nature and faithfully following its course.
Let’s see the indications for this week.
Predictions (newsletter) for 25 April to 29 April 2005
Last week it inched upwards closely emulating the Euro’s move. This shows that it still has a very strong bond with the dollar’s movement. For the last four months I have been waiting for a sign of the breaking relationship between gold and the dollar but it hasn’t come. For that time, no convincing move has been witnessed in gold and it is one of the reasons why I have not given the buying signal. The other reason is that for the last three months, the period has been decidedly unfavourable to gold. However, this is poised to change soon.
For a short period, this week will be a positive time for gold except Monday and Tuesday. One can buy gold on Tuesday and sell it by Friday. This is because it looks very weak come Monday and Tuesday of next week.
For this week, the range of gold will be 428.40 to 439.20. The breaking of either side of these prices could result in a 2% move in the gold prices.
For the last one and half months, metal stocks have not performed well. This was bound to happen as the outlook regarding gold prices wasn’t very positive. Though gold prices have not fallen that much, negative planetary movements have affected metal stocks quite adversely.
During this week silver will strongly move up after facing a tough time on Monday and Tuesday. One can therefore buy silver on Wednesday and sell it on Friday. In comparison to gold, silver is going to remain positive for the next one month. Similar to last week, silver will also have a wide range movement during this week. The range will be $7.11 to $7.35.
As over all planetary movement is not favoring metals for few weeks so trade carefuly. I don’t think that it is going to break these prices but if it does, the outlook will then be quite different and I will immediately send you an alert.
All these commodities won’t have a positive week and I therefore don’t recommend any buying. Copper will remain weak, platinum will be directionless while palladium will be sideways.
In the last 20 days the stock market has fallen 5%. My long-held call of a stock market collapse is turning to be real. On Wednesday of this week, the market will turn positive. One can therefore cover short positions on Wednesday’s morning session and sell again aftedr quick profit. The DOW Jones will soon start trading below 10,000 and may not see 5 digits again for a few years.
Five weeks back I warned on steel and other commodity stocks. My warning was right and I still hold the same position.
Last week I was not accurate on oil. False and misguiding news from
Five weeks after my recommendation to wait and after giving an alert to sell coffee at $136, last week’s buying call on coffee has resulted in handsome returns for my coffee members. It has risen more than ten percent in five trading sessions. Indeed am pleased that my advice on coffee has made many investors millionaires in the last five months.
For this week I recommend that you hold buying positions. Do not be scared on Monday and Tuesday during volatile movements. However, those who dread volatility can sell in Monday’s opening market and buy back on Wednesday.
This week coffee will rise another five percent.
Cotton will trade up during this week. Don’t short cotton at this stage. I am recommending new buying on Tuesday as I see prices rising more than five percent during this week.
Sugar prices will also move up during this week and one can therefore take position in it and hold for two weeks.
Last week’s recommended buying is still on. Hold your buying position in it.
I see the 30 years bond being $115 and around that level, one can book profit. I will also do so as I am still holding $110 buying position in it.
Last week, the dollar was weak and all other currencies gained strongly against it. This is a great opportunity to get out from all currencies and just hold buying positions in the dollar. Go short in the Euro, Pound, Swiss Franc and the Yen. I see the Euro soon touching $125.10.
I WARN CURRENCY TRADERS TO TRADE CAREFULLY AS I SEE A ANOTHER VERY STRONG WAVE COMING IN THE DOLLAR.
Let us watch and see how commodities including gold will move when the dollar rises. The coming period will be very interesting as well being a decisive time for commodity traders.
Thanks & God Bless
Mahendra 23 April 2004www.mahendraprophecy.com