Dear LM,
You will enjoy Tuesdays flashnews, all daily flash we send before Asian markets get open.
Tuesday’s Flashnews
Dear Members,
S&P, Apple, and Nasdaq moved huge up, Thursday low was for S&P 1341, APPLE $504 and Nasdaq 2496, today S&P closed at 1381, Apple $565 and Nasadq 2585. Great rebound, what more you can ask from wave of nature. As soon Scorpio Moon moved house and everything started turning around. We are very bullish for stocks, but on commodities our view is still not very optimistic so better we keep trading stocks or Indexes than commodities.
METALS
Our medium and longer term view on gold is still bullish but we will recommend silver trade in metals. Short term outlook is still mix, book profit today on higher side. Stay away from any buying until our indicators give 100% confirmations. Today higher will remain limited in metals and tomorrow we may see bit weaker trend.
Our view is mixed on gold and other metals for Tuesday, it means that very limited on higher sides.
Here is Tuesday’s range (All December contract):
GOLD: $1737.30 to $1722.90
SILVER: $33.38 TO $32.79
COPPER: $356.70 TO $350.70
PALLADIUM: $650.80 TO $638.20
PLATINUM: $1595 TO $1573.20
SOFT COMMODITIES
Soft commodities traded mix on Monday; Coffee and sugar prices went up but cotton and orange juice traded weaker. Still see mix trend to continue in these commodities. We recommend buying Cotton and Sugar at this stage. Trade in and out in the rest of the soft commodities.
Core positions: We still recommend holding 2013 call options positions as cotton and coffee are nearer to bottom.
Tuesday trading range:
COFFEE: $153.15 TO $149.50
COTTON: $73.01 TO $71.60
COCOA: $2580 TO $2460
SUGAR: $20.21 TO $19.65
ORANGE JUICE: $118.90 TO $115.10
INDEXES
It looks like nuclear industry is awaiting some positive news on Tax from Government that may push nuclear and uranium stocks higher, we already saw uranium stocks move higher today along with nuclear stocks and Etf’s. Rare earth stocks went up as well, uranium and rare earth were most beaten sector in 2011/12. Monday companies have very high look value then trading price so watch these companies very closely.
Apple stock was on fire today, your recommendations of buying Apple have paid handsomely. This is what we mentioned yesterday: We strongly recommend you to keep adding Uranium, rare earth and stocks like Starbucks, Apple and Microsoft, Yahoo and QUALCOMM should be added in your portfolio.
We are predicting a strong bull rally any time from late Friday and next week we see a bullish trend. Load up on stocks in emerging markets, like India, Singapore, Brazil, South Africa, and Russia and in develop markets like Japan, USA and Europe.
Don’t short markets, hold you position tightly as we may see best two months from here onward.
Tuesday trading range:
AUSTRALIAN (Cash) – 4443 to 4405
NIKKEI – 9298 TO 9188
NIFTY S&P (Spot) – 5577 to 5648
SINGAP0RE (cash) – 2986.00 TO 2970
HONG KONG (cash) – 21606 to 21439
CAC – 3468 TO 3425
DAX – 7198 TO 7101
FTSE – 5773 TO 5729
S&P – 1388.75 TO 1375.75
NASDAQ – 2601 TO 2564
RUSSELL – 796.25 TO 785.25
DOW – 12829 TO 12698
GRAINS
Grains traded bit positive with all other commodities on Monday. Grains will trade mix on Tuesday as well, trade in and out as per the below mentioned range.
Tuesday’s trading range (December 2012/Jan 2013 contracts):
CORN: $744.75 TO $730.50
WHEAT: $850.50 TO $833.25
RICE: $14.93 TO $14.74
SOY: $1408 TO $1384.25
SOY MEAL: $427.30 TO $420.90
SOY OIL: 48.19 TO $47.35
ENERGY
Great time to build sell position in Oil and Natural gas, these both selling trade can be treated as hedging trade against buying of S&P and stocks. Oil will collapse eventual from any time late Tuesday or Wednesday.
Tuesday’s trading range:
OIL: $90.10 to 88.59 (Jan 2013 contract)
NATURAL GAS: $3.93 to $3.75 (Jan 2013 Contract)
TREASURY BOND – 151-28 TO 150-26 (Dec)
CURRENCIES
Watch emerging market currencies as these currencies will react big on Tuesday as handsome gain is on the way, so get into this boat. Rest of currencies will trade as per below mentioned range.
Japanese Yen trading weaker, hold position as this currency should be on your watch list, one must take sell position in it.
Tuesday’s trading range (December Future contract).
DOLLAR INDEX – 81.15 to 80.61
AUSTRALIAN DOLLAR – 1.0435 to 1.0361
CANADIAN DOLLAR – 1.0068 to 1.0009
BRITISH POUND – 1.5972 to 1.5864
EURO – 1.2859 to 1.2759
JAPANESE YEN – 1.2360 to 1.2261
SWISS FRANC – 1.0678 to 1.0600
RUPPEE – 54.93 to 54.48
RAND – 8.82 to 8.70
Reading daily range: When we predict a weaker trend; means prices can break lower side and they can trade below predicted lows. On bullish indicators, daily price can break upside and they can trade higher than predicted price (you can book profit but don’t short).
Like today we see fall in oil and metals, so you shouldn’t be buying even if prices fell.
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Thanks & God Bless,
Mahendra Sharma,
Monday, 19 Nov, 04.30 PM, Santa Barbara