Re: Market update

Hello,


Gold and Silver


What is reason of parabolic rise within last few week and days?

I can sum up the whole arguments by writing QE

Its worthwhile to spend your time on below stories and come to conclusion yourself instead some great minds on cnn or business channel explaining you facts


http://www.marketwatch.com/story/bank-of-england-holds-policy-steady-2010-10-07?dist=beforebell

http://www.marketwatch.com/story/race-to-the-bottom-in-currency-markets-2010-10-07?dist=beforebell

http://www.theglobeandmail.com/report-on-business/economy/currencies/pressure-mounts-on-china-to-stop-currency-war/article1745532/

http://www.china.org.cn/business/2010-10/07/content_21070259.htm


As per my techncial indicator it has run ahead in shrot run and would welcome 3% to
 5 % correction however i am very bullish long term if you have your view past one week  or one month 

http://www.theglobeandmail.com/report-on-business/top-business-stories/why-selling-the-us-dollar-is-the-only-game-in-town/article1746906/

Market

Technical indicators are all indicating a bullish sentiment despite horrific fundamental , I would to consider  my positon before market reaches DJIA 11300 -11500


Have a great weekend

Update oct 1

Greetings from colder toronto....

Gold and Silver,

It seems some sort of consolidation is in the cards in near term and i would advise to turn  paper profits into real one, it never hurt to take some profit of the table.
My long term outlook still remain bullish as in bull market you will have some consolidation which is extermly frutiful in long term

Market

Consolidation seems to be imminent however i see market inching ahead as we move closer to end of 2010. Partial proft it advisable

Global Gold Rush & More

Hello All,


Greetings from Moderate Toronto.....




Gold and silver,

I received lot of emails and phone calls with skepticism last week when i wrote this gold will hit usd 1300 , however i was wrong as gold hit 1300 before i expected . One colleague of mine was brave enough to tell me "buddy don't drink and write... I will not discuss my drinking habit as sometimes my father and elder brother read my update.....lol

http://www.kitco.com/reports/KitcoNews20100924AS_gold.html

Gold and silver has attained all time high , will it continue or will it burst. I am in first camp based on below important reading

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aqqEDrWMDO3w

http://news.xinhuanet.com/english2010/world/2010-09/15/c_13495934.htm

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=awf4p.4G9tyA


I am personally very bullish on silver based on some work done by one of the finest brain on wall street due to subscription issue i cannot add that as link however after reading and speaking to him i am convinced that silver will outperform in % terms to gold....Please keep an eye and interested... your money on this humble metal(Please consult your financial advisor before making any financial decision ) 


Market

It's trading in upper channel ... however fundamental is horrible as it looks technically it seems to be very strong . I am not worried about it till November 2 but it may show some colour once election unwinds......

Good luck to everybody on fall season

Thanks

Rubin