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Market Update PDF Print E-mail
Written by Steve Meyers   
Thursday, 08 May 2014 19:58

Same thing, different day. The bigger they are (stocks), the stronger they are, while the smaller they are, the more they get beat up. Everything is right in the world. Something will happen soon. I believe what we will see is the small caps dragging down the Dow and S&P. We are short the Russell from 1130. Sell in May and go away should pay off over the next few weeks.

Gold held steady today while silver had a slight decline. This should be about as low as the metals go if we are to rally over the next few moths.

The Euro spiked up then had a big reversal down. I believe that we have seen the high in the Euro and now it should correct over the next few weeks to months. Sell Euro at 1.3900 risking close above 1.4000

Market Update PDF Print E-mail
Written by Steve Meyers   
Wednesday, 07 May 2014 22:58

The small cap stocks were jolted by Janet talking bubbles in valuations for those stocks. It is a tale of 2 markets right now. It is the best of times (large cap) and the worst of times (small cap). We have confirmed the downtrend for the Russell and the Nas while the S&P and Dow are still entrenched in uptrends. I believe the small cap bubble will lead the way to a big correction there.

Gold and silver surprised me the most today. Yes, Janet did say taper was still on and the economy was going to roar after being held back by weather. Whatever. I still believe the low and secondary lows are in and today marks a steep correction. The $ has gotten hammered lately so the metals are a mild disappointment. I will continue to risk a weekly close below 1277 on gold and 18.90 on silver.

Market Update PDF Print E-mail
Written by Steve Meyers   
Monday, 05 May 2014 23:18

Stocks recovered from a lower opening to close higher even though all news is negative. Tuesdays have been the most bullish day for the market so I'll be watching to see if the S&P can spike to a new high while the Nasdaq spikes above last week's high and then reverse back down. The Russell 2000 continues to see selling pressure. We are short the Russell from 1130 and traders should sell up to 1145.

Gold and silver surged then pared gains by the close. Gold is still outperforming silver. Gold confirmed the most recent low while silver still has more work to do. I look for higher prices over the next few months. We are long gold from 1305-1280 and long silver from 19.51.

Morgan Stanley Nightmare PDF Print E-mail
Written by Steve Meyers   
Saturday, 03 May 2014 11:19

Market Update NFP Version PDF Print E-mail
Written by Steve Meyers   
Saturday, 03 May 2014 11:09

Stocks rallied off the NFP print as 1,000,000 workers fell out of the workforce. The internals of the economy and the market have rolled over. Propaganda is running at full steam to keep this farce going at all cost. The market did give up its gains by the close. Next week is the week I believe we kick off some downside. It remains to be seen if the S&P can join the Dow on a new high. The Russell 2000 remains the weak sister and this is a sign the speculators have left the building. Retail public are the buyers. We know how this story ends and ending it is. We are short the Russell 2000 from 1130 and selling up to 1145.

Gold and silver did kick in as our analysis had required. Now we need follow through. I stick to my guns that this will be the buy of the year in metals but it certainly is taking some serious patience. If gold can close above 1306, the we have confirmed the low. Silver has a little more work to do but the low appears to be in place after Thursday's beat down. We are long gold from 1305-1280 and long silver at 19.51.

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