Bull Fever Or A Bull Trap? It Is Probably Both!

This Excerpt from Mark Leibovit’s VR Silver Newsletter covering Stocks, Bonds, Gold, US Dollar, Oil CLICK HERE

VRTrader has called every twist and turn in the market over the past few days. Yesterday morning, we again took profits on our short index ETF positions. I added that we could possibly experience a short-term ‘change of direction’ and that the market could take out Tuesday’s highs. Both of those occurred yesterday, but only after we took our profits. Now that we’ve taken out Tuesday’s highs, the market could very well rally further. Yes, there is lots of overhead resistance, but it looks like the market has found a base to work from. A break under Tuesday’s lows (e.g. 1069.90 in the SPX) reaffirms the bear case, but at the moment that does not appear likely to occur. We did not experience broad-based positive upside volume yesterday, but the VTI (Total Stock Market Index) and the Nasdaq Composite did post Positive Volume Reversals ™ yesterday – a little encouraging the Nasdaq Composite took out last week’s high. Ideally, I’d like to see the market rally and then repurchase the inverse ETFs at higher levels. Yes, I still feel we are in a bear market, but recognize a ‘summer rally’ is likely.

Mark’s previous calls – May 16th – Has Gold Become Too Popular? Time for a Correction?”

May 25th – BOMBS AWAY? We’re Most Short and Liking It!

Marks VRTrader Silver Newletter covers Stock, TSE Stocks, Bonds, Gold, Base Metals, Uranium, Oil and the US Dollar.

Mark was named the #1 Gold Timer for the one-year period ending March 25, 2008 by TIMER DIGEST.

More kudos – Mark Leibovit was named the #1 Intermediate Market Timer for the 10 year period ending in 2007; the #1 Intermediate Market Timer for the 3 year period ending in 2007; the #1 Intermediate Market Timer for the 8 year period ending in 2007; and the #8 Intermediate Market Timer for the 5 year period ending in 2007. NO OTHER ANALYST SURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMING AS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!
For a trial Subscription of The VR Silver Newsletter covering Stocks, Bonds, Gold, US Dollar, Oil CLICK HERE

The VR Gold Letter is available to Platinum subscribers for only an additional $20 per month, while for Silver subscribers the price is only an additional $70.00 per month. Prices are going up very shortl, so act now! Separately, the VR Gold Letter retails for $1500 a year! The VR Gold Letter is published WEEKLY. It is 10 to 16 pages jam-packed with commentary and charts. Please call or email us right away. Tel: 928-282-1275. Email: mark.vrtrader@gmail.com .