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

1. WILL MARKETS CONTINUE TO CLIMB MY WALL OF WORRY or Is the stock market topping out?

• US & Global bond interest rates rising (April FOMC)
• April Earning Season
• US Tax Revenue Short fall and rising US debt burden
• China bubble deflating and/or US Trade Tensions/War
• Iran
• Withdrawal of government stimulus and the upcoming end of the US Federal Reserve’s mortgage debt purchase program
• Euroland Greek (PIGS) Debt Crisis
• Saturn opposite Uranus in April

Take your pick as the list goes on AND on! 

For how long will the market ignore economic fundamentals and fiscal problems?
Last week’s DOW 10888 sell signal for us was one more reason to continue to position portfolios for a correction by/or before April 13 to May. 
NOTE: March 30 is another Market Marker Day – the second of four.  So far, the trading Zeitgeist is to Short Rallies.  How will it be modified next Week? Stay tuned. 

ASTRODATES
3/29  Full Moon 10.25 pm ET
4/06  Pluto SR
4/14  New Moon 8.29 am ET
4/18  Mercury Rx
4/20  Sun enters Taurus  0.30 am ET
4/26  Saturn opp Uranus
4/28  Full Moon 8.18 am ET 

 
KEY DATES:    MARCH 29, 30, APRIL 2
DJIA:                10888 PIVOT
SPX:                1148 SUPPORT?  1188 RESISTANCE?
NASDAQ:         2400 PIVOT
JUNE GOLD     1110/1120 DUAL PIVOTS
MAY SILVER:   17.30 PIVOT S1 16.80 S2 16.55 S3 15.75  17.80 RESISTANCE
MAY OIL:          80 PIVOT S1 79.50 S2 79 S3 76  R1 81.10  R2 83.60  R3 84
US$                  80 PIVOT 82.60 (84) RESISTANCE? 

Market Marker Sentiment (MMS) changes March to June 2010.  So Far: Markets begin optimistically but reality sends them back to neutral.
March 30  is the second of four Market Marker Days.
2009 CLOSE:           DJIA  10428 SPX  1115 & NASDAQ 2269
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:                       7 ~ FV 2 UV; 5 offer 4%+ Dividends 3 offer 5%+ Dividends.
US BANK FAILURES TO DATE: 41   
THINK TRADITIONAL SWISS AND PRESERVE CAPITAL: FOCUS ON PROTECTING AGAINST DOWNSIDE RISK. 

2. With the exception of last week’s obvious Health Care winners and losers, we do not see a reason to do anything beyond waiting/preparing for markets to correct. 

3. Should You Join The Next Gold Rush? 

GLD: How to trade sideways gold for the next six months 

US$.82 long term P3 target has been achieved. Over time, we will be reversing trading positions, although P4 US$ .84 is possible. Short term we have begun a slow accumulation of the EURO at P1 132-133.  What does this mean for Gold and Silver?
While Gold remains in a slight technical down channel to $1050-$1060 and will be under some negative astro for much of April, we could stop trading with our short bias over the next few weeks.
Gold and Silver Investing remains in attentive Watch mode. 

4. “The U.S. Treasury market has gotten slammed over the past two days. This is the last thing a fragile economy needs because yields aren’t spiking because all of a sudden the U.S. economy is great again.”
Peter Boockvar, equity strategist, Miller Tabak
HW: I disagree. Higher US Interest rates (1%-1.5%) plus more wide spread credit availability ARE EXACTLY what is needed. 

"Consumers are exhaling after the enormous loss of wealth from the recession. The intensive retrenchment that they were doing during the recession has ended. But we're only going to get moderate growth in consumer spending so I don't expect this to be a powerful recovery.”

Robert DiClemente, chief U.S. economist, Citigroup

HW: Very slow and very, very moderate growth for a long time.

“High fiscal deficits and higher outstanding debt lead to higher real interest rates and ultimately higher inflation – both trends which are bond market unfriendly.”
Bill Gross, managing director, Pacific Investment Management
HW: You betcha! 

5. Ten reasons why this is not a bull market 

Are bear markets bad for your health? Yes, says Duke researcher 

S&P: Two sectors (and three fund picks) for a rising-interest-rate environment 

6.  READER: After May, do you expect markets to be up?
HW: Not necessarily. There are different models:
Some are flat and range bound; some are (very) negative over the Summer and one has Summer  UP.
Which one we employ depends on what happens in late April/ May. 

READER: My guess is that we first will get a decline against 46,then up against 49.
This is a very good match with your astro. The best time to go short on QQQQ is probably in the middle of April or so.
HW: Certainly by then I would agree. Personally, I prefer to step in my shorts so as not to miss such a big potential trade.