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

1. WAITING FOR  EARNING SEASON TO BEGIN
Unless there are several positive surprises ahead during Q2’s earnings season, or analysts were too bearish, markets will drift and/or test further down into August.
If they rally first, we believe that post the July 22^nd Solar eclipse and before the end of summer, STOCK MARKETS WILL BE LOWER THAN CURRENTLY. 

Enjoy your July 4^th Holiday.

ASTRODATES
7/07 LUNAR Eclipse  5.21 am ET
7/10 JUPITER conjunct NEPTUNE
7/21 SOLAR Eclipse  10.35 pm ET
7/22 SUN enters Leo 12.36 pm ET 

 
KEY DATES:    JULY 3, 6
DJIA:                8270/8500 PIVOTS 8800 RESISTANCE
SPX:                900 PIVOT
NASDAQ:        1850  PIVOT
XAU:                160 PIVOT
AUGUST GOLD:980 PIVOT S1 960 S2 940 S3 920  R1 980  R2 1005  R3 1035
SEPT SILVER:  14 PIVOT 13.25 SUPPORT 16 RESISTANCE
XOI:                 900 SUPPORT 1000 RESISTANCE
DEC OIL:          70 PIVOT 65 SUPPORT 78 RESISTANCE  

The Market Marker Sentiment into 2010 has Less Volatility and Market Cross Currents.
Stocks Meander slightly ahead and favor defensive plays. The US$ doesn't collapse and Commodities may not be needed as a safe haven panacea.
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:                       8 ~ FV 2 UV; 8 offer 4%+ Dividends 4 offer 5%+ Dividends.
THINK TRADITIONAL SWISS AND PRESERVE CAPITAL: FOCUS ON PROTECTING AGAINST DOWNSIDE RISK. 

2. We don’t wish to buy anything at this time while markets are above Dow 8000.
We prefer cash.  Traders may wish to enter a small positional short by Tuesday’s close, or if conservative, entered or added to, post July 4^th holiday.
Still, these will be only small positions or hedges until we are further into the next earning season. 

3. We have updated our premium subscriber post: S:MINING (7/2009) with our current desired buy targets for Q3 2009. 

I also recommend looking at the mining companies that will be presenting at our July Triple Gold Conference at the Princeton Club in New York. We expect them as a group to outperform later in 2009 and 2010.

4.  “The worries are still out there.  Nobody is ready to get the trumpets out and herald the end of the recession.”

John Wilson, chief market technician, Morgan Keegan

HW: Not I.

“It’s key for investors that we can see the end of the slowdown.”

Henrik Drusebjerg, senior strategist, Nordea

HW: But there will be (a lot) more rough patches to come.

“Things will get worse gradually unless they get worse quickly. “

Alan Auerbach, economist, University of California, Berkeley

HW: The potential government debt danger is that foreign lenders, spooked by the rising debt, will send interest rates higher and create a crisis. Fortunately, the new Market Zeitgeist into 2010 suggests this will NOT happen short term. 

5.  Insiders Exit U.S. Stocks at Fastest Pace in Two Years as Market Rallies  

Jim Rogers says has no short positions, selling dollars 

Five world markets themes next week 

6. READER: From what I understand from last letters, would be better to wait for the end than june in order to go in short position rather than to try weakness for long positions, is corrected?
HW: Hard to say. I may try this coming week a  small positional trade with a tight stop. It depends on what sector you plan to short.
Until the second week of July and earnings, this trade would be a bit of a gamble.  On the other hand, buying later on when the market is weak and undervalued as we recommended when the market was under 7000, was an easier and lower risk/higher reward trade. 

READER: What do the letters L and U mean as to the markets direction?  You also refer to the letter W as a market direction.  Please explain what each letter means.  Is there a location on you wed site that explains all of these letters (FOMC, etc).
HW:  In our FAQ read our Acronyms (6/2009).  L, U, V and W refer to the type of recovery expected, the first is a long haul, the second medium, while V is fast and W is a stalled or repeat economic decline. 

READER: what is the Five Element Fund? I do not see it on your site. I am very interested in Agriculture too based on what Jim Rogers has said about it too.....
HW: This is not a public offering. 

READER: ^DJI: Your September 2009 target for ^DJI noted at around 8000 level. My prediction is that ^DJI will re-test its March lows of 6470 sometime in Q4 2009. What are your views?
HW: Dow 8000 is just my FIRST trading target. I haven’t decided what happens beyond that. 

READER: I want to purchase some gold and silver, you advised in your last newsletter not to purchase during June, seeing as we are now in the low 900 dollars an ounce do you feel the price has further to fall but also more importantly do you see July as a more positive month for Gold?
HW: Currently I see no reason for July to a positive month for gold.