Dec 15

Weekend Outlook for 17th December 2012 – Market to resume its Santa rally !

As I mentioned markets were very likely to pullback and so far we had a pretty good pullback especially in the techs as AAPL been moving down – but I still think we could see some more downside in mkts before we get the santa rally higher into new year !

I’m going for a vacation in the coming weeks into 2013 so wont be posting much on twitter in this timezone.

So far it has been some excellent weeks – as I’ve been bullish on coal stocks , solar stocks and now also very bullish on gold miners !

We picked a stock for members at 0.25$ which made 100% gains (CRME) this week hitting 0.5$ ! I made the DD at 0.25 with price targets like this and even higher , still think it will go way higher this stock.

Ok – lets take a look at the markets.

1. The USD is forming a bearish pattern , so still calling for more downside in USD to target 74

2. Euro will therefore increase and forming a bullish pattern and it broke out on Friday , targets 1.4 eur/dollar

3. So both the USD and Euro is suggesting , markets should be READY for resuming its rally and this one might be BIG – I’m not 100% sure if pullback done or we get some more downside early this week , but EITHER way , I remain bullish for now and think we get a YEAR END RALLY/SANTA RALLY and my target is possible new highs at around 1500 on SPX !

4. With USD falling down , gold is likely to breakout higher and this fits well as I see a bullish pattern on gold – tagets 2000$ on Gold
– this is also why I like buying gold miners cheap now.

Conclusion : All in all – As I called the November lows of the correction I’m still thining the RALLY is on.. and after this pullback is done sometimes this week – mkts will resume its uptrend rally and possible see new highs into new year. Seasonality and everything fits well with this too.

 

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