WALL STREET, NEXT WEEK
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WALL STREET, NEXT WEEK: JUNE 1, 2009
FINANCIAL ASTROLOGY FOR THE SUCCESSFUL INVESTOR AND TRADER


1. JUNE MARKETS
2. UP STARS/DOWN STARS
3. GOLDEN OPPORTUNITIES
4. QUOTES
5. ON THE WEB
6. LETTERS 

1. Economic optimism may trump GM bankruptcy
NEW YORK (Reuters) – “Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed. Stocks could also get a boost if commodity investors see more signs of a recovery in demand as it would boost profits and share prices of resource companies, and particularly the oil industry. “
HW: Remember “As GM Goes, so goes the nation?”  I do!  The way the US$ and gold have been trading lately, makes me think others do as well!
How long will the current Jupiter/Neptune optimism last?  June 12th is the next Market Marker Day and may provide the answer! 

By August, we expect to see DOW 7500/7800 SP 800/830 NAS 1555.

 
ASTRODATES
6/07 Full Moon 2.12 pm ET
6/15 Jupiter SR
6/21 Sun enters Cancer 1.46 am ET
6/22 New Moon 3.35pm ET 

TRADERS:  June 12 will be the new Market Zeitgeist. 

INVESTORS: My long term view is well known. Focus on protecting against downside risk and only buy and hold stocks with sustainable earnings at Deeply Discounted Value pricing.
Invest only in stocks at bargain basement prices that you are willing to hold until 2011. 
Soberly prepare for the reality of an L/U shaped US economy for the next two to eight years. 

FAIR VALUE RANGE:    DOW 7900-8200 NAS 1555 SPX 830-860
LONG/SHORT PORTFOLIO:  L1/S1.

 

KEY DATES:    JUNE 3, 5
DJIA:                8500 PIVOT 8200 SUPPORT 8800 RESISTANCE
SPX:                900 PIVOT
NASDAQ:        1850  RESISTANCE
XAU:                160 PIVOT
AUGUST GOLD:980 PIVOT S1 960 S2 940 S3 920  R1 980  R2 1005  R3 1035
JULY SILVER:   15.50 PIVOT 14 SUPPORT 16 RESISTANCE
XOI:                 900 SUPPORT 1000 RESISTANCE
DEC OIL:          70 PIVOT 60 SUPPORT 70 RESISTANCE  

The current Market Marker Sentiment is Some worry, then bargain hunting, then return to worry.
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
DJIA:                       9 ~ FV 3 UV; 7 offer 4%+ Dividends 4 offer 5%+ Dividends.
THINK TRADITIONAL SWISS AND PRESERVE CAPITAL: FOCUS ON PROTECTING AGAINST DOWNSIDE RISK.
 

2.  GM BANKRUPTCY MIDNIGHT JUNE 1?
While this may be a non-event to markets, the astrology is interesting.  If GM is NOT bankrupt, it has a positive astro influence mid 2010-2011 and worth buying THEN (NOT now!). 

As for the rest of the US stock market, much of it is slightly over valued and we expect to see lower prices by late Summer.  We are looking to buy little, but continue to recommend raising cash levels the higher markets go. 

3. Gold bugs at last have their perfect trinity

 

Silver Rises to Best Month Since 1987; Gold at Three-Month High

HW: Our advice is to TAKE OR LOCK IN PRECIOUS METAL TRADING PROFITS. 

Gold, Silver and Oil are at or close to overhead resistance.  Investors should be watching closely the Wednesday June 3 ADP Private Hiring Survey and 10.30 Oil Report.  Gold will soon break down (Seasonal selling perhaps due to an Oil correction) or break out.  We plan to prepare for either possibility by taking profits and/or adding short term long trades.  Then by June 22, we face a similar trading and investing decision.
However, despite any possible correction below $900 and $13 ahead, longer term we are precious metal bulls and plan to buy on MAJOR dips. The  same goes for Energy stocks as well as Oil and Natural Gas. 

4. “It’s a square-root recovery, where you see the sharp upward move and then it goes sideways. Expect volatile economic data, expect volatile corporate reports, expect volatile consumer spending.”
Andrew Milligan, head of strategy, Standard Life Investments
HW: Noted. 

"The markets are still nervous.  It doesn't take a lot to start them going in the opposite direction. A few negative days and the optimism will turn into pessimism, and the market will trend downward. Just as fast as it goes up, it can go down.”
Lloyd Yamada, financial planner, Cupertino
HW: Reality bites. 

"Up until the middle of May, less-bad data fueled the rally. What we need to see is some good data starting to come out.
Brad Sorensen, director for market and sector analysis, Charles Schwab
HW: We are expecting this RIGHT BEFORE Godot arrives! 

5. SCENARIOS - What will replace GM if it leaves the Dow? 

Fed gets a lesson in the power of markets  

The Death of Equities? 

6. READER: Would like to ask your opinion on the gold price, you said you see gold strong for the next few weeks into June and looking at the charts there seems to be a large inverse head and shoulders pattern that would take gold to around 1250. Do you think this is the breakout a lot of people have been waiting for?
HW: It is possible, but not my bet.  I think more likely in H2 2009 or Q1 2010 then just now.
 

READER: So what do you think of Jupiter in Pisces next year? Treasures sold for junk prices and everyone happy just to get through week by week?
HW: I was thinking of profiting by the Zeitgeist ahead by buying spirit purveyors! J

 

NOTE: THERE WILL BE NO WALL STREET, NEXT WEEK JUNE 8. NEXT WSNW ISSUE JUNE 15, 2008

 

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