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1. NOVEMBER MARKETS
2. GOLD
3. LETTERS
First a joke from the CME floor last week.
After the market close last Monday the CME announced that it decided not to split the SP500 contract in half next week - they figure it will cut itself in half by then! :-)
Because of last weeks brilliant calls, I am in the process of rewriting my biography adding Black Monday II and Tuesday's rare BUY BUY BUY alert "before 10:30" - at PRECISELY 10:30 Tuesday morning, heavy purchasing of stock index derivatives caused the price of the December S/P future contract to jump to a massive 35 points premium value.
A Wednesday’s sell at 7600 (upper limit), was rather automatic. Once again our trading plan is to play extremes and we began buying gold Wednesday and will do so through Tuesday. Then we hope to take profits over the next 3-6 weeks. Note: Because our PRICE target of 6950 was not achieved, (the market dropped to only 6975), next week may retest 7000 before climbing. We do not believe a retest of 6400 is coming AT THIS TIME.
STOCKS: Buy ENZ, OXHP Sell overpriced Financial/Brokerage stocks
BONDS: 6.25 Yield Pivot
DIJA: 6950-7665.
We are pleased that many financial astrologers correctly called Black Monday II. A sample press story follows:
HONG KONG, Oct. 29 /PRNewswire/ -- Rebecca Nolan, editor of "Financial Astrology" newsletter [Economic Publications Ltd,Hong Kong] forecast the collapse of U.S. stocks on October 27 with amazing accuracy and some seven weeks ahead of the actual event. Published on September 1, her newsletter said of U.S. stocks:
"It looks like an earthquake hits the market in October, hurting over valued stocks on October 9, 16 and 27 in particular." As the world knows, the Dow Jones Industrial Average endured its greatest point drop ever on October 27 with a decline of 554 points; on October 9 the Dow dropped approximately 40 points and on October 16 it declined 125 points.
Of interest, Ms. Nolan also projects a further 15% decline in the Dow Jones Industrial Average before the end of the year.
Due to extraordinary market conditions, we did not have time to complete our astrological study of technology stocks in a future issue.
2. According to Business Week, many financial advisers are now recommending that investors hold between 5 percent and 10 percent of their portfolios in gold-related assets. The precious metal was again under the gun on news of a Swiss proposal to sell 1,400 metric tons of gold if the country's voters agreed in a referendum set for 1999. You think they will vote yes? I say NO they wont! So it is bargain basement buying time in gold, gold stocks and gold instruments.
XAU: Buy 85-93: Target 110+
STOCKS: ABX, FCX PDG. Options players can buy ECO stock ~ 4 1/2.
3. I have some money in China funds and am concerned.
HW: We are short term and long term bullish on China. But intermediate term, as soon as we recover to the 13,000-13,400 WATCH OUT/sell out.
I have heard of a day book that keeps more than your appointments, it tells you which day is favored to transact business, which days are better and which are in retrograde, can you tell me where I am able to purchase?..... I have watched you since before your call on March 11th. Now I have a few extra $$$ and I want to know what to buy in the market or should I wait for a down swing and be ready to buy.
HW: From the NY Astrology Center (books@afund.com) you can order Lynne Palmers Astrological Almanac@18.95 postpaid. Of course this is NO substitute for a personal astrological consultation.
What and When to buy depends on your personal financial goals; consult your financial planner, broker or financial astrologer for specific advice.
You suggested to buy options and IBM today before 10:30 am and 1:28 pm. Will you also suggest time frame for selling them? Thanks. Great call today,
HW: No. Different readers have different time horizons, different risk tolerance etc. Apply whatever money management system you use with our alerts.
Unfortunately I missed it. Was short till 10.15 and had to wait because my broker could not confirm if my order was executed. After all I am a happy investor today my puts went from 8 to 55. But with your call could be double that. Next time better I guess. Continue your work!!
HW: Yes, hopefully next time will be better for you.
Wednesdays, listen to our ABS radio program TRADING BY THE STARS
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