Thoughts on Markets

Sunday, April 11, 2010

Anticipating Some Selling of Stocks This Week



Gold is moving higher over night. However, we must realize that trading is light until the NY opens. It is currently 1165 which indicates possible higher prices as the night turns to day.


Silver is showing a pattern similar to that of gold.




Silver has been above 18 and tonight it is trading at 18.53. Fortuna Silver has been holding quite well, but has not be able to break and stay above $3 which it needs to hit before it can continue onward and upward.

Hecla Mining is a good performer, but it seems stuck around $6 for the time being.
The dollar has been strong for a while, but seems to be turning weaker now specially against the Aussie, Canadian, and Brazilian currencies. The EURO is having trouble staying above 1.31 dollars.
Gold is one of the stronger technical pictures during last week. It will have to continue on above the 1160 and move to 1180 and then beyond to exceed the last high. It made rather strong moves last week. The Sovereign Wealth Funds and central banks seem to be buying more now.
While BYD Company has been a star performer, it has cooled a good bit during last week. I am likely to lighten our load of BYDDF unless it shows much stronger upward pattern early this week.
With central banks increasing interest rates and Treasury auctions of LT Bonds paying higher interest rates, one would think that bonds are going to continue to lose market value. I believe that is the case, but last week was a rather strange week in the markets.

It seems to me that the weirdness of the markets is telling us there is something unexpected which is about to happen. We will have to be cautious and wait to see what the Lord reveals to us in the news and in the markets. Our crystal balls are cloudy at best and smoke filled at worst.

I am considering lowering some of my stock holding and have shown some above that may be reduced this week. I will be watching market action and will send out special emails to let you know what I am, if I am selling some of my holdings.

I trust that each of you attended corporate worship as is the responsibility of every person on earth in obedience to the Sovereign God of all. If you are not receiving blessings in you life, you may not be following the word of God in your submission to King Jesus.

Best to each, Doug



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