May 27 Early Edition
1. June ASTRODATES
2. MARKETS
3. GOLD
4. LOVE JET
5. QUOTE
6. PRICES INCREASES
7. LETTERS
1. 6/4 Mars SD
6/13 New Moon 3:03p ET
6/21 Summer Solstice - Sun enters Cancer
3.49p ET
6/28 Full Moon 5.37p ET and Jupiter enters
Taurus
Like many Wall Streeters, I am off for a four day weekend. Expected light volume on Friday affords both profitable trading opportunities, and often gives investors favorable entrance/exits. We plan to place a few bargain buys/sells whether executed or not.
Showing my age? Optimism Soars Among Young Investors, Declines
for Investors Over 30. Younger and older investors have divergent perceptions
of the financial markets, with younger investors reflecting significantly
higher levels of optimism than their older counterparts, according to the
Index of Investor Optimism (SM). The Index shows that optimism among investors
30 and younger soared in May, as they expressed confidence in their abilities
to achieve their investing goals, continued economic prosperity and government
policies regarding savings and investing. In contrast, the Index shows
that optimism declined among investors over 30, particularly regarding
their confidence in achieving their individual financial goals.
LIKE I SAID: DON'T TRUST ANYONE UNDER 30! :)
As we approach THE END, our trading screen is watching 3 items:
) Bonds under 119 (especially the 6% scare),
2) GS under 70 (53 scare point),
3) Japan under 16,500 (under 15,000 panic time)
These are intermediate term signals, this market will continue to be
a loser for the buy and hold crowd.
As to Tech stocks, with Saturn/Uranus coming, Wednesday's internet action was just a small preview - it is only a matter of a few weeks or even less that many tech stocks enter phase 1 i.e. 50% correction from their 52 week high..
REMEMBER TO KEEP YOUR BIG SPECULATIVE MONEY READY FOR JULY:
If you wish to play safe, then buy July or September put options.
Conservative investors may wish to write July/September covered calls.
Key Dates: June 4
DJIA:
Shift from DJIA 10,000 support to 10,000 ceiling tests beginning soon
GOLD: Trading Buy
- Markers: GOQ 270; XAU 60; ABX 17
3. 20 reasons to Buy/Not Buy GOLD by Sam Hewitt.
4. WATCH OUT PFEIZER (PFE)! Look out Viagra: here comes
"Love Jet."
By Kerri Selland (Reuters) - "After more than 50 years in the invention
business, Yoshiro NakaMats has migrated from disk drives to sex drives.
The man who claims to have invented the floppy disk says he will topple
Viagra as the love drug of the century with Love Jet, a spray-on libido
booster. "I have created many inventions in many areas," he said. "The
most important area is human relations and happiness."
[Love Jet] comes in a small spray bottle and can be used by men and women. Just aim at the groin and fire. NakaMats promises an immediate boost in sexual power. At age 71, he uses it frequently. "The results have been very good, excellent," he said. Love Jet works by helping the body release the sex hormone DHEA, he said, adding that it is better than Viagra, made by Pfizer Inc., because it has all-natural ingredients and no side effects.
Love Jet also improves memory, he said, because the brain and sexual
organs are interconnected. "One cannot function without the other, they
work together," he said.
CAN'T WAIT FOR HIS IPO. Is the REAL reason for PFE decline since
March/April? Perhaps, I will buy JNJ and Sell PFE to be safe.
5. "Is playing the Lottery part of your investment strategy?"
Citibank
HW: But "investing" in Internet stocks today is?
6. PRICE INCREASES to celebrate the forthcoming Jupiter/Neptune
squares!
Current GOLD subscribers (and Silver subscribers who wish to convert
to Gold), please note we are increasing our trading subscriptions fees
from $500 to $1000 per year. You may add (or convert) your current
subscription at the old price $500 for one year or $1000 for two years
until the end of June. Naturally, your old subscription will be extended
from the end of your current one if a Gold subscriber, and will be prorated
for current silver subscribers. If is our intention to keep the silver
investing subscription at $300 annual for the rest of the year.
7. READER: Henry: You had predicted a test of $350 or $400 for
gold this year. Your latest forecast is considerably lower at $300 by fall!
Do you still stick by your original forecast? What are gold's prospects
during the 4th quarter of 1999?
HW: We are quite bullish for third quarter, but given the insistence
of the worlds' central banks to depress gold prices (to keep the public
fooled about inflation?) plus the massive hedge fund gold shorts, we are
using a more conservative target of $300-$325. However, it is still
possible to reach our original target this summer.
READER: I looked at your webpage and you have been crying about the
market SINCE it went to up 9600...you kept saying that it will crash then,
crash crash crash but the Dow is up to 11000 ...don't you feel really stupid
for doing that?
Look at gold, its at a new low..... hahahahaha
HW: Now, I don't feel stupid. I am not only glad to buy more
gold at bargain basement prices, but have continued to recommend very successful
technology shorts. As to the broad market: We will see who is laughing
or crying later this summer when the market is FAR below 9600.
READER: RE: THIS IS MORE EVIDENCE THE END IS NEAR. REMEMBER WC FIELD'S
SAGE ADVICE: Don't join any club that would accept you as a member, it
can't be that good! :)"
Thought that was Groucho Marks!
HW: My wife agrees with you and says Woody Allan was inspired by this
as well. The key point is IPOS are now being offered to the public, not
because the big boys care about you, but that most realize the jig is up.
READER: THOUGHTS ON CPQ. I've got 500 shares, hold or sell. I'm a long
term investor.
HW: My answer is to sell. Compaq, we continue to believe, will
be an underperforming asset until the fall. When it goes below 20-18,
it could be considered a long term bargain, but that is 20-25% below current
pricing.
We are holding few tech stocks ahead of Saturn/Uranus. Note the
performance of holding Oil stocks ahead of the recent Saturn/Neptune aspects.
Exceptions are fallen angels like BAANF, and perhaps IBM, which will outperform
the market, but even mighty IBM will strongly correct as well.
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