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The state of the markets

As I have repeated in my last few posts the markets never registered a Sell signal on weekly charts but that everyone of the indexes (Dow, S&P, Nasdaq) registered sell signals on daily charts. However, the last 3 days actions have completely reversed the sell signals and we now have 3 buy signals on all the 3 indexes. This flip flopping of markets I am sure has frustrated the heck out of many of you because I sure am tired of this to and fro gyration.

We begin the week of July 20 on a good note on all the charts. Gold charts still have not recovered from their Daily sell signals however they are turning up. The bullish signal on weekly Gold chsrts is unchanged.

BRCD registered a leg up the past few days and I sure am hoping that the weekend Barron's story on BRCD being a prime acquisition target will come to fruition. I hold a bunch of August options as well as chunk of BRCD shares. I figure that BRCD is a great stock to own with or without any acqusition possibility. I think they are simply going to blow the earnings away when they report in the next few days.

So far as per my last post I said I am holding Gold shares and Tech shares and it has been a great decision because Nasdaq simply vaulted up this week and registered an outstanding performance. I continue to stay in Gold and Techs with a little bit in energy and industrials for good measure.