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My work suggests that the dollar likely bottomed on friday against
most majors...for a few months anyway...may need one more minor low
vs yen.
Also of note...I see a potential major low in dow utilities
today...this has been the worst month for them since 1940, btw.
chris
--- In realtraders@xxxx, profitok <profitok@xxxx> wrote:
> this is from a famous web site
> Please note: This is not the same as our service
titled "Weekly MMA Comments and Recommendations on Financial
Markets," which is available by subscription only.
> MMA COMMENTS FOR THE WEEK
> BEGINNING JULY 22, 2002
>
> On Friday, July 19, as the Sun conjunct Jupiter and the Moon
entered Sagittarius (the sign which Jupiter rules), the Dow Jones
Industrial Averages closed down below the 8062 low of September 21,
2001. For the day, it was down 390 points. For the week, it was down
565 points. For the month, it is now down 1224 points – and there are
still nearly two weeks to go.
>
> For the past several weeks, this column has discussed the
possibility of a financial panic involving both the U.S. Dollar and
the stock market. The period of time between Mars conjunct Jupiter
(July 3), Sun conjunct Jupiter (July 19), and Sun conjunct Mars
(August 10) was seen as period of potentially huge price moves in
equity markets around the globe. Traditionally one might have
expected this to be a period of a huge rally in stocks. But as
pointed out, it could also result in a huge move down instead – in
fact, a financial panic – as the nature of Jupiter is to exaggerate
and enlarge. It is not always positive and optimistic. It can also
develop into hysteria and a free fall. And that is exactly what is
happening.
>
> Also, as stated last week, a severe decline in prices is not
likely to end until the Leo-Aquarius full moon period, which occurs
this week, July 24-26. That is likely to be a climax of some type,
maybe even the final climax (but not necessarily).
>
> There are a multitude of geocosmic signatures still to unfold
in the next 3-4 weeks. Besides the full moon this week, we also find
Venus (currency) square Pluto (debt, bonds) on Wednesday, July 24.
With the full moon, this could augur more bad corporate reports, or
negative news about fraud and improper corporate accounting, which is
not exactly what the market needs to hear right now. But it is
exactly what the market might need to set off a final panic. Next
Sunday, July 28, Mars will oppose Neptune, which isn't exactly a
signature inclined towards honesty and openness. To the contrary, it
may reveal an effort to distract attention from what is really
important and accurate. It could also correlate with rumors and oil
spills. How will it play out in the equity markets of the world?
Possibly with a sense of denial and paralysis on the part of
investors, who just refuse to believe what their eyes are seeing. It
is a signature that might suggest capitulation (every one trying sell
at once, and nobody believing the empty assurances of government
leaders that "the economy is sound, the markets are over-reacting").
It doesn't appear much better the following week, as the Sun then
opposes Neptune on Thursday, August 1, followed by Venus square
Saturn on Friday, August 2. After that, things might look up, as we
move towards the Sun conjunct Mars. This signature alone (within an
orb of 8 degrees) has probably a greater rate of frequency to 10% or
greater reversals in stock prices than any other signature involving
planets inside the orb of Jupiter. But the question remains: from
what level?
>
> As dangerous as things appear in the next 3-10 trading days,
investors and traders alike should keep in mind that this decline is
due to end. 1-2 weeks is not that long of a time. And, with the
promise of a 10% or greater reversal to follow, it behooves
courageous traders to be alert for rather profitable trading
opportunities coming up shortly. It may be even better than just a
trading opportunity, for the U.S. stock market is also in the time
band for a primary, 50-week, and 4-year cycle trough. If it is just a
primary cycle, then the rally that follows may only be around a 10%
correction, and may only last 2-5 weeks. But if it is a 4-year cycle
too, then the rally may last several months, in which case many
analysts will proclaim a new bull market to be in force, something no
one is predicting now. If the 4-year cycle doesn't bottom with this
primary cycle in the next 1-2 weeks, then I believe it will with the
one due after this, due in about 3-4 months.
>
> --------------------------------------------------------------------
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>
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