1. MARKETS
2. GOLD
3. WEB SITES
4. ARCH CRAWFORD
5. CONFERENCE REMINDER
6. LETTERS
A number of cyclic systems forecast the next few days as potentially
negative. I believe that this will increasingly be the case as we
approach July 1. While there will be relief rallies such as last
Tuesday/Wednesday, the closer we get to the Summer, the more you can say
bye-bye to more and more stocks profits.
Last week a number of stocks had stellar earnings such as IBM (our favorite
DJIA 2000 stock), and JPM. However, I find all the good news
is built in and we don't advise ignoring the record US Trade Deficit.
Platinum subscribers (market professionals) should review our latest
global asset allocation models at Summer
Allocation.
IT IS ONLY A MATTER OF TIME, THE END IS NEARER AND NEARER
Proxicom Inc., which builds Web sites for online businesses, rose ONLY
79 percent on its first day of trading. This percent gain trails the average
186 percent gain of the five major Internet IPOs just two weeks ago.
Ahead of a few May "green" dates, the end of April has a somewhat negative
Full Moon Friday April 30.
KEY DATES: April 28, 30
DJIA S3 9,000 S2 10,000
S1 10,500 R1 10,750 R2 11,000 R3 11,500
2. Swiss voters approved a proposal to break
a 100-year link between the Franc and Gold, paving the way for the government
to sell $12 billion of gold. This decision should alleviate Swiss
exporters fear of a stronger currency.
The latest report from the US Commodity Futures Trading Commission showed more speculators than ever were betting that gold prices are heading lower. With shorts 10 times longs, we foresee a short squeeze in the making.
Comments from one of our favorite gold analysts:
"Both gold and XAU have risen in a period of thick skepticism
following passage of the Swiss referendum to sell central bank reserves
last weekend and the release of a bearish Gold Fields Mineral Services
annual gold report released April 21. This indicates just how short
the gold market is currently, and with open interest remaining at high
levels there remains plenty of fuel for a short-cover rally. Short-term
there appears to be a significant price cluster of resistance in the 71-72
area for the XAU. Some profits should be taken off the table for
redeployment in the mid 60s area (with stops below the March 30 low ) for
a continued corrective rally.
It's important to note that Senate Minority Leader Thomas Daschle of
South Dakota is starting a movement in Congress to oppose the IMF gold
sales. If he succeeds, this would essentially kill the entire plan
and send gold flying through the roof in at least the short term.
This is important to monitor as consensus thinking is that IMF gold sales
are a done deal."
3. A web site for those interested in market
psychology.
At LimResearch see Venus
and the Dow and Venus
and Commodities.
4. From Arch Crawford:
"The BRADLEY Long Term Model has the high for this year as April 10
(Saturday) so give +/-2 trading days. So far, the 12th (Monday) was the
high in the Russell 2000, NDX and a bunch of other indices.
My 2nd date for top is April 23 on the Jupiter/Uranus sextile takes
place at 12:55 EDT. That was the EXACT TIME of the earlier peak that was
taken out by pennies at around 15:30EDT.
BRADLEY has a secondary peak May 1-3 which happens to coincide with
the Goldman IPO!!! Who needs tech analysis. Just short when Goldman gets
out!"
HW: Great Comment re: Goldman IPO.
5 Our Stock Market
Forecasting Conference is less than one month away. You have
a serious interest in financial astrology and don't plan on attending our
7th annual Astrology & Stock Market Conference? How is that possible?
Recheck your horoscope and register. Enjoy the Music of the Spheres,
a distinctive new tool to evaluation stock and bond performance. Don't
let the market crash without 49 days advance notice. ;)
6. READER: What should I do about shares in Dell Computer?
Sell, hold? Thanks!
HW: We have already recommended selling Dell computers. We do
not foresee above market appreciation for Dell in the next 12-18 months.
Of course, you have to look at a whole portfolio, but all the good news
is built in many times over.
READER: The 1000 POINT DROP [will be] September 13th. Book your travel
plans now while you can still afford it.
HW: Being a cosmic bear, when the market drops 1000 points, I
will own the travel agency I will be booking with!
READER: I would like you to discuss more planetary/solar/lunar aspects
of the upcoming major eclipse to be crossing Europe and what it means for
the European Bourses and New York Market.
HW: This is being briefly covered at our 7th
annual Astrology and Stock Market Conference in NYC. We will
not be addressing it here until after that time.
READER: If I want to invest in your fund, and you think the market
drops to 7001.67, then that means you will have to short. Does your charter
allow you to short? Do you do it through futures or individual stocks?
Do you do stuff like short before that planetary alignment that is coming
up (by the way, when is that?)
HW: As we manage money both for high net worth individuals and
fund-like, we do all of the above in addition to the use of options and
increased cash allocation.
As to exactly when the market will crash, there are SEVERAL possible
dates, and we intend to be short all of them. More and more stocks
are already down 50-95% from their 52 week highs since the April 98 market
(A/D) highs.
READER: Almost a year I have been studying your market comments
now and I learned a lot from you. As you know, normal technical systems
for trading as well as investing have stopped giving reliable signals and
results for some time now. As an example: I designed a system that made
me over 2 million from 1986 on. It stopped giving signals April 1997....
I tried 2 systems consisting only of money management and astrological
input: they both were ONE HUNDRED PERCENT profitable....
As far as I know these are the first technical systems solely based
on simple astrology. Astrology seems of superior help in these days if
we look at the facts I referred to here. Should someone of your readers
be interested, you know my e-mail Dr
M Boot. Again: thank you for the inspiration I got through you,
as well as the way out from disaster and despair.
HW: We have published your email address above. However,
there are quite a number of private (and very successful) astro-technical
trading systems. Of course there is always room for one more as the
cosmos is a very big place indeed.
READER: I am a new WSNW subscriber and I am wondering what is your
take on AOL. They have good earnings forecasts, have captured a large
stake of the market, and are frequently announcing planned innovations.
They seem to be one of the cornerstones of the Internet, yet their stock
price has taken a hit lately. Do you see this as a longer term trend
or just a temporary correction for them?
HW: AOL has had, and continues to have, favorable astrological indications.
However, it is VASTLY OVERPRICED. While I believe AOL will continue
to outperform in the Internet sector, it is still headed for a CRASH.
If you have good profits take them; if you wish to trade it, do so prudently.
READER: IHI, it seems that 78 cents
seems to be support now. More or less. How is the production line
schedule coming along?? Do they still feel comfortable with
June as full production time frame??
HW: $0.75-80 US does seem solid support. As to production, I
think we need to add a few months time - best revised guess is late
August to September/October. Note: expect very good news from Europe soon.
Can you AFFORD NOT to have FINANCIAL ASTROLOGY in your future?"
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