Dec 22

Weekend Outlook for 24th December 2012 – Merry Xmas from Thailand !


Merry Xmas from Thailand as I’m on vacation into 2013.

Markets started out quite strong – but got a fast overnight dip (cause of fear of 21th December hmm??) , but at least we started -1.5% down but ended higher on Friday.

I still think markets is going to have a santa rally higher into year end and we could even see 1500+ in the coming weeks IMO.

Looking at my weekly charts – they suggest that there might still be 2 or 3 more upside coming in the mkts as we are not overbought at all yet , and everything remains on a BUY signals when we look at the weekly charts.

Actually this coming week could accelerate to the upside as the momentum on weekly will turn positive and this USUALLY sets up a big rally , combining this with XMAS holidays… which is USUALLY bullish ,, I could easy see a nice rally to upside coming this week.

As I called in early/mid November a big rally should come – so far we have seen a quite good rally from 1340.

Looking at AAPL it still looks very bullish and my target remains 650-675 to upside ,, this suggest mkts could really go a lot higher in the coming weeks IMO.

Looking back I mentioned that SOLAR stocks would be HOT (FSLR and others) already up big now with JKS and TSL up 60-80% already (so yes solar stocks has been really HOT) as I called before they moved higher.

Coal stocks too has been hot as mentioned BEFORE they went higher, (ANR, BTU, WLT) all been ripping higher and up nicely from call – I still think there is a lot more left in coal stocks – so they should continue higher next weeks.

The next hot sector I predict is gold miners ,, they look very bullish to me and I think gold + gold stocks will start to rally in a big way the coming weeks.

Conclusion::

I wish everyone a merry xmas first of all – and with everything combined it looks like the current rally wil continue for a few more weeks imo as we are not near overbought yet on weekly charts. The momentum wil start to go positive and my charts tells me as long we stay above 1400 , there is NO reason to get bearish IMO – so this is the bigger view and therefore I can only recommend to stay long and buy the dips on gold stocks if you want to buy stock for the next “hot sector” coming up imo.

Starting in 2013 I will be online in a radio show in Denmark after market closes – to commentate the markets and stocks.

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