This Excerpt from Mark Leibovit’s VR Silver Newsletter covering Stocks, Bonds, Gold, US Dollar, Oil CLICK HERE
As you know, markets were up six days in a row coming into yesterday’s session. Though we have not seen a ‘Key Reversal’ or a Negative Volume Reversal ™ to the downside it only made sense to see the market pause here. That plus the fact we’re approaching important resistance at the 1120 area and most indexes have yet to breakout above the important (trading) 50 day moving average. Options expiration is Friday and momentum still appears to be on the side of the bulls, however, I think we need to retrace a bit. Overall, I’m still a bear, but, as I’ve said, a rally into August is not out of the question. Thinly traded markets during the summer lend themselves to big bear rallies. Waiting until Fall and see how the market fairs into traditional September/October weakness is reasonable strategy for investors – rather than risk getting ‘chopped up’ during the summer.
I suspect that we do reach a top whether its at 1120 or 1170 in coming days or weeks, one heck of a short-sale opportunity will present itself.
Marks VRTrader Silver Newletter covers Stock, TSE Stocks, Bonds, Gold, Base Metals, Uranium, Oil and the US Dollar.
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: firstname.lastname@example.org .