Thursday Outlook: Commodities, Global Markets

<< Return to page 1 - Replay of Last Week?

















































It does seem like a repeat performance from last week, but I believe the next two days will prove significant one way or another. After all, it’s the end of the month and tape painters will be out. Besides, I’ve made a big prediction—up, down or sideways!

Other than some scattered positions we’re heavily in cash. One day we feel stupid then the next okay. As ETF Digest Sacred Cow VIII advises:

AT ANY GIVEN TIME, THE MARKET CAN MAKE ANYONE LOOK LIKE AN IDIOT--ALWAYS.

Let’s see what happens over the next two days.

Disclaimer: Among other issues the ETF Digest maintains positions in: IEF, TLT, TBT, BWX, UDN, GLD, DBC and DBA.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.

Comments

[squark62:]

hi dave, i agree with your general assessment that this week is looking like last week and we need to see how the next 2 days go to get a clearer picture of what the market wants to do. however, some technical analysis of my own suggests that this weeks trend in the aggregate S&P 500 is weighted more to the downside. this means it will take heavier volumes of buying than last week to maintain equilibrium, let alone go higher by weeks end.

May 27 11:16 PM

[Douglas T:]

Good article. Enjoyed the comments re: charts as well. www.mutualfundwealth.com/

May 28 12:56 AM

[Wizler:]

up down or sideways....(and we are heavy on cash)....love it.....remember, buy low sell high

May 28 04:37 AM

[fatcat:]

Thanks Dave....I've noticed you aren't covering Dr. Copper in your articles like in the past....has that metal lost importance in your mind?

Thoughts ,anyone?

May 28 06:54 AM

[cdur:]

as the worse can happen at anytime like a black swan... all the job is to stay short on market's indices without loosing money....isn't it..??

any comments on FAZ..???

thanks a lot Dave..!!

May 28 08:14 AM

[F. Bradeen:]

Thanks for being so honest. (up down sideways) Love your work. Also hope your wife is doing well. Keep us posted on her progress.

May 28 09:11 AM

[Seaferer20:]

your insightful comments and downright honesty make your wrfiting a must read Dave. thanks.

May 28 10:24 AM

[bricki:]

Standing by the exit. Got my hand on the ripcord pull. Nervous as hell.

May 28 10:35 AM

[chleoku:]

Good insight. I think actually market is aiming downwards:

www.wealthalchemist.co.../

Fed is running out of tricks to pull the market up.

May 28 11:55 AM

[AndrewBaker:]

Ever had the feeling that you've been a denier for so long and everyone else just keeps on doing what you're denying until you feel that you've got to be wrong and should join in?

Well ... I've got that feeling now. Trouble is, it makes you doubt your own convictions after some time: just recently I have ignored long gold, long oil and long cocoa (yes, cocoa: check it out) because my shorts on financials, oil and industrial metals weren't working and I believe so much that they are right.

Now I'm thinking, unleveraged ETF for conviction beliefs over a period and leveraged ETF for short-term trading on the charts, regardless of what I personally think.

I'm gonna give it a try.

Oh, my original point? Yeah, well, now I'm thinking of joining the longs - so it must be time for a big downside correction!!

May 28 03:47 PM

[harammph:]

Bullish formations all over the place, Double Bottoms, triple bottoms, H&S bottoms. You Have to love it.

May 29 12:07 AM