1. HOW MUCH MORE PAIN TO GO? FOR HOW LONG?
We have long expected a series of rolling bottoms.
We may be at another one here circa Dow 7000, while a lower one circa SPX 700-710 is also possible before May. 

Nonetheless, we are looking to BUY (not Sell) stocks in a slow accumulation during March and April.
Tuesday is a new Market Marker Day. Watch carefully, it can mean a bottom in place by this Friday, if not earlier. 

QUESTION OF THE DAY
Is nationalizing debt better than nationalizing banks?
HW: I DON’T THINK SO!

 
ASTRODATES
3/06 Venus SR
3/10 Full Moon 10.38 pm ET
3/20 Vernal Equinox 7.44am
3/26 New Moon 12.06 pm
 

 

KEY DATES:    MARCH 2, 3, 6
DJIA:                7000 PIVOT
SPX:                 740 PIVOT 720 SUPPORT 805 RESISTANCE
NASDAQ:        1400 PIVOT
XAU:                120 PIVOT 105 SUPPORT R1 125 R2 135 R3 145
APRIL GOLD:     $895 FAIR VALUE 940 & 962 PIVOTS
MAY SILVER:   FV $12 $ 13.50 RESISTANCE?
XOI:                  800 PIVOT
DEC OIL:          50 PIVOT 

The Market Marker changes on Tuesday. Currently it is  A Known Weak Economy; so what me worry? No! Buy.
2008 CLOSE:           DJIA   8776, SPX   903 & NASDAQ 1577
2007 CLOSE:           DJIA 13264, SPX 1468 & NASDAQ 2655
2006 CLOSE:           DJIA 12463, SPX 1418 & NASDAQ 2415
2005 CLOSE:           DJIA 10717, SPX 1248 & NASDAQ 2205
DIJA:                       10 ~ FV 7 UV; 16 offer 4%+ Dividends 10 offer 5%+ Dividends.
THINK TRADITIONAL SWISS AND PRESERVE CAPITAL: FOCUS ON PROTECTING AGAINST DOWNSIDE RISK. 

2. GE Reduces Dividend for First Time Since 1938
Astrologically, there are reasons to be bullish on GE by H2 2009.  Certainly it sports deep value at $8, assuming it is not bankrupt.  We have been waiting for 3-4 buy triggers:

1. GE to reduce its dividend - Done
2. GE under $10 - Done
3. GE to have its AAA rating lowered -
4. May/June and/or a general market buy signal earlier due to a sensible resolution of the banking crisis.

Bottom line: We are at least half way to a long term buy for GE. 

Chevron: A Big Value in Big Oil
This is an accumulate for us along with SE, VLO and PLLL.  

3. Given we value Gold currently at $895, we don’t intend to cover/stop our gold shorts until circa $880 to $900.
Trading pivots are $940 and $962. 

4. “The market has been having another panic attack. Ultimately, we’re going to be seeing some of the buys of the century in equities likely this year, but maybe it’s a little too early right now.”
Richard Weiss, chief investment officer, City National Bank
HW: Yes and No.  While markets are likely to test lower for some time, there are significant bargains that may or may NOT be (much) lower in future. 
A slow quality accumulation.during March and April is recommended. 

“Banks are pivotal before sentiment can improve.”
Jeremy Batstone-Carr, equities analyst, Charles Stanley
HW: Or, rather, the US government attitude to playing Santa Claus with MY money.  As one observer of the recent Citibank fiasco noted this week: The only thing worse than nationalizing a bank, is paying full price and getting only 1/3 of a bank! 

“There just don’t seem to be any clear signs that some of the problems have run their course. We’re still being governed by how deep the recession be.”
Mike Ryan, head of wealth management research, UBS Financial Services
HW: Don’t forget to consider HOW LONG! 6 months? 18 months? 10 years? 

5. The Ultimate Safe Haven Investment  

When Gold Trades at 25 Times Oil | Energy 

Ryanair May Charge Passengers to Use Toilet During Flights 
HW: I have always thought this would raise more revenue for the airlines than paying for Internet access! 

6. READER: As I have understood there is still astro for a market turning south. When will that change? 
HW: Short term in March or May. This can be as soon as this week! 
 
READER: You predict a W in the market. You think the selling climax will come on the first stroke down or the last?
HW:  Your guess is as good as mine.  However, I currently believe April, as I believe the Dow 7000 more or less holds this week.
We should know more by this Friday’s market action. 

READER”: What's A Nice Forecast in GOLD, Thanks HENRY!
Gold has been retrace from its highest $1000 to $940 now in Asia Trading. How do you see Gold movement next month?
Will it going down to 800 ++ area before will rebound in May / June as you forecast early this year?
HW: While there is a possibility that gold can go that low, I don’t see it (yet)
I do see at least $860 to $880.  Once gold is undervalued (under $895) we will be less bearish.
This can happen in March and/or early April.
Note this weeks twin pivots: Under $940 be short; Over $962 is bullish with stops circa $955. 

READER: American Investors : I would not start buying any stock on NYSE or NASDAQ till ^DJI hits 7000 or S&P hits 741, which ever is earlier. Same hold goods for India at 8100 thru 7700. 

I will then wait for 15 trading sessions at NYSE. If ^DJI cannot hold 7000 and/or S&P cannot hold 741, then I will start buying American equities when S&P tests 650-600 and ^DJI 6480-6000. (Corresponding SENSEX figure will be around 7000.) 

I pray that ^DJI at 7000 holds and also S&P at 741 holds. Failing which you will see ^DJI at 6480 to 6000 levels in Q2 2009 ( April thru June'09 ). My advice for American Investors "assets class wise" is already up there on my webpage as of Jan'09. 

Just keep on buying Gold through 2009 at every major dip.

HW:  You may be right, but I am not waiting 15 days but will continue to buy again slowly this week (our second of five-six buys).