Monday, April 24, 2006

Guesstimates on April 24 , 8:50 am ET

THIS POST WAS DELAYED BY TECHNICAL PROBLEMS AT BLOGSPOT.COM

June S&P Futures: Support today is at 1312 and I think that the market will soon be trading above 1330.

June Bonds: The bonds now will rally to 108-12.

June 10 Year Notes: The notes will now rally to 106-12.

US Dollar -Euro: The market is on the way to the next upside target at 125.20.

June Crude: The upside target at the 74.30 level, the 7 5/8 multiple of the all time low at 9.75, has been reached and I think the market is about to drop substantially along with gold and silver.

June Gold: I looks like gold made its high at 649 and now is in the early stage of a drop to the 2 1/8 multiple of the 252 low which stands at 535.

May Silver: Silver has rallied from the low at 1160 to 1332, still shy of my 1350 target. This morning’s break dropped the market from 1332 to 1240 and support stands at 1225. From there silver should then rally to 1350. I expect to see the market trading around 920 in a few weeks.

Google: Earnings news sent GOOG as high as 455 early Friday. A reaction from here is likely but the 420 level should hold. I expect continuation up to 495 over the next few weeks.

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