Market Update Nov. 9th/2011.

"It was never my trading that win me money in the market, but it was always my sitting tight."

Currencies

EUR/USD

Our system suggest a stronger Euro. Despite Greece and Italy heading to bankruptcy. Current price is 1.3787.

GBP/USD

As we said on Nov 4th/2011 update, we preferred the pound over the euro. For now the British currency seems to be the leader and euro the follower. Current price is 1.6110, and we do expect a higher pound. We are cautious as our cycles are topping both short and long term, by next week we will prepare to take bearish bets.

USD/CAD 

Even though we expected more than a 100 pip move to the downside in this pair, Mr Market hasn't allowed more than we wanted. We rather get out with whatever profit for now since we recommended to short this pair around 1.0182 and wait. Cycles both long and short term are bottoming, therefore we will wait for the right time to go long this pair.

AUD/USD

We recommended to buy the Aussie on Nov 4th/2011at 1.0397, since then, the Aussie has gone down. Our system is not showing us a clear picture anymore. Its better to cut losses short for now and wait.

Commodities 

Gold

We said to buy gold at $1760 per oz. on Nov 4th/2011. Since then gold prices have climbed and reached the $1800 level. We are experiencing some correction, but cycles and the trend suggest higher gold prices. Hang on for more profits. Current price level is $1784 per oz.

Silver

Expecting silver to follow the Yellow shiney metal. Our system is still betting on higher silver prices. Current prices is $34.92 per oz.

Crude Oil

We recommended to buy crude at $94.25 per barrel on Nov 4th/2011. As of this writing, the price stands at $96.58. Both short and long term cycles are topping for crude. The easy money has been made already, therefore we don't recommend adding positions, rather take some profits to the bank. Because of cycles topping in crude we expect the Canadian, Russian, Norwegian currency to begin weakening sometime next week.

Futures

S&P500

Besides a correction from current cash price of 1270 area, overall the trend in the S&P500 is up.

DOW

Expecting the same for the DOW. The S&P500 and DOW are in a similar pattern. Current DOW cash price is 12110.

NASDAQ100 

Same goes for the Nasdaq100 futures. Except the trend in the NASDAQ seems stronger. Current cash price is 2390.

Nov. 6/2011 Market Update

Despite the Greece crisis our outlook for the markets for the next few days is buy everything, sell the dollar.No major change from our Nov.4/2011 update, Short term cycles are still pointing upwards in risky assets. Anything against the dollar should be profitable for the next few days. Every risk asset is a buy, we prefer the British pound over the Euro, as the trend seems to be stronger. The Dow Jones, Nasdaq, and, S&P500 are as well in a buy mode. We will update if there is any change that may occur.

Market Update Nov. 4th/2011. "Dump the Dollar"

Currencies
EUR/USD
Short term cycles are still pointing upwards. Current price is 1.3815, and we do expect a stronger Euro. Don't be surprised if the 1.40 level is reached.

GBP/USD
Short term cycles are suggesting a higher pound from the current level of 1.6010.


USD/CAD
Shorting this pair is a good idea. Even though cycles aren't strong enough pointing a lower dollar, based on crude oil going higher we expect the Canadian dollar to be strong. There is inverse relationship between the price of crude and this pair. As Crude gets expensive, this currency pair goes down and vice versa.


AUD/USD  
Based on Short term cycles, it seems its a great entry point to go long the Aussie from the current price level of 1.0397.


Commodities
Gold
To us it seems the dollar is a loser across the board. Based on our system Gold is a major BUY both short and long term cycles are pointing higher Gold prices from current level of $1760. We are long Gold and have open positions.


Silver
The poor mans gold is also in a nice uptrend. You wont be disappointed if you buy silver at current prices of $34.57.


Crude Oil 
Crude is in a nice uptrend. You still can profit by buying Crude futures from current price levels of $94.25. We have Long Crude position open.


Futures
S&P500
The S&P500 closed at 1261.15 on Nov 3/2011. For Nov 4/2011, we shall see a higher prices from current futures cash price of 1258.9. We are long the S&P500 and have open position.


Nasdaq
On Nov.3/2011, the Nasdaq gained 2.20% or added 57.99 points and closed at 2697.97. For Nov 4/2011, we expect the Nasdaq to continue to advance higher. Current future cash price is 2367, therefore by market close on Nov 4th/2011, the Nasdaq should close a lot higher than the current future cash price of 2367.


Dow Jones Industrial Average
Go long the Dow. Current future cash price is 12036, by close of the market on Nov 4th/2011 the Dow should be way higher.

Nov. 2/2011 Market Update

Euro/USD
Short term cycles are bottoming. The Euro should advance higher against the dollar. We should see a higher euro from current price 1.3725.


GBP/USD
The same goes for the British currency. Current price 1.5980


USD/CAD
We expect the USD to stop moving higher in a few hours. Short term cycles are topping, which means the Canadian dollar should be stronger. Current price 1.0182. So as the Canadian dollar get strong, we should see a lower number from the current price. In a few days though we will be buyers of USD and sellers of Canadian dollar due to long term cycles bottoming.


Dow Jones Futures


The Dow Jones Industrial Average closed 2.48% down, or lost 297.05 points on November 1st/2011. For November 2/2011 we expect the Dow Jones and in general the Stock Market to move higher.