Thai Market

With news of the Thai coup, it may soon be time to consider a broad-based Thai long via ETFs TF or TTF.

20060912 Tom PM

SPX 1313 up 14 with volume. When it gets over 1326 then going to 1433.
CCMP 2216 up 43. Resistance at 2270 from May 11.
INDU 11498 up 101 with volume. Going for all time high then to 13000.
Gold 594.
Dollar 85.91.
Option expiry week.

VGZ 9.87 down .28. Buy may have been today. Volume lightened up from yesterday. Don't need to rush to buy. Is tied to price of gold.
HMY 12.22 up .02. Is ready to buy. Tom bought today.
COMS 4.42 up .06. Sign of strength today. 5.31 week of June 30 is wide open.
DNA 78 down .33. In large consolidation. Can test 71.
PVTB 44.93. Looks great on weekly.
GLG 40.29 down .95. Might go back to 48.
LEN 45.47 up 2.36. Counter trend bounce.
RAD 4.76 up .25. Running for highs of 4.90.
TGC .74 down .07. Not a long.
SIGM 15.20 up .64. Is a potential long. Closed at highs of day. Needs more volume.
SLW 9.44 down .48. Unlike other metals, had volume today going down. Next level of confluence is 8.59, which would be a great buy. Can go to 12.21.
AMZN 31.72 up .93. Closed at high. Is closing gap at 33.

20060911 Matt PM

Gold needs to hold 200 day moving average. Expect small bounce or consolidation. Very cautious short term.
Oil also continues to fall. Sell oil stocks.

GDX Gold miner ETF.
HUM Humana, health care. All time high. Big volume coming in.
MET Met Life. All time high. Dividend.
RGA Insurance. All time high. RSI moving up.

20060911 Tom PM

INDU 11397 up 5.
SPX 1230 up 1.
CCMP 2173 up 7.
Gold 597. Slammed down. $20 move is large because there are calls that trigger forced selling.
Metal stocks should open a little lower then close slightly up. Tomorrow should be a buy.
Dollar 85.85. G7 meeting soon.
Option expiry this week.
By Friday stock markets will be up.

JOYG 38.02 down 2.30. Closing the gap a little lower. Has support here. Wants to go back to 47.
LM 90.55 up .24. In middle of consolidation. Not a buy here. In the sector, GS is a better long.
HMY 12.20 down .79 with volume. Tomorrow watch how it touches 11.90. If reject with lighter volume, then it can quickly go back up. This is a good area to go long.
AAPL 72.50 down .02. Consider this to be an entertainment company. Large gap up July 19. Good buy there at 53.
TLAB 9.47 down .19 with accelerating volume. No price spread indicates someone is sitting there buying. Buy a little lower.
VIP 58.02 down 1.88. Finished ABC up. Will pull back to 54 then go back up. 50.17 is still open.
CDE 4.80 down .32 with volume. HL is a better silver long a little lower.
RGLD 26.69 down 2.16 with volume. Confluence is 26.42. Volume was lighter than low day in June at 23.
ERF 50.61 down 2.79 with heavy volume. 9% dividend. Had high volume day on June 13 low, and volume now is higher. Wants to go to 48.52.
FTWR 8.16 up .61. Hasn't shown sign of strength.
DLM 10.05 down .09. Last week rejected bottom again. Can see 11.10.

Solar Flare And Down Markets

The correction which started following the geomagnetic storm* last weekend seems to be taking on a familiar pattern; namely, the bears get excited and sell the market down, it finds support and the sellers back away.

...

* study by the US Federal Reserve found a close correlation between geomagnetic storms and subsequent corrections in the stock market. "Geomagnetic solar storms occur approximately 35 days per year. For their study, Krivelyova and Robotti [the Fed researchers] correlated the dates of all such storms over the past 70 years with the behavior of 12 of the world's stock markets over the same period. An unmistakable pattern emerged: When the sun flares up, the markets go down. The condition lasts for about six days after the storms end."