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28th July 2008 |
THE FOG LIFTS & OPPORTUNITIES EMERGE
On the 16th July I acknowledged that I was enshrouded in a mist which over the
following two weeks developed into a extremely volatile thick fog.
In
view of this dilemma the portfolio has been sharply reduced following our
'Great Defence' strategy finishing up with 70% in cuddly cash. As is always the
case as soon as positions go against us we banish 'hope' in favour of security.
We are now in a position to move forward subject to favourable opportunities
emerging.
This week's analysis is much improved from recent morbid
affairs with the fog lifting slightly exposing some interesting propositions.
WORLD STOCK MARKETS
On the bullish side there is nothing
of interest anywhere although France surprisingly is on support being on a G2
level. There is a falling angle a little way away limiting a possible rise to
16.66% from the lows…therefore not of great interest. There are a number
of markets which have rallied far too quickly which might provide 'shorting'
opportunities
SECTOR ANALYSIS
Analysis of the sectors
have highlighted the following:-
1 - In the US the CRE (commodity
shares); Computer & Hi Tech stocks; Defence; Energy & Natural Gas
sectors are bullishly highlighted whilst on the downside Banks; Drugs &
Housing stood out.
2 - In the UK Chemicals & Mining look bullish
whilst Banks; Gas & water; General Financials, Non Life Insurance,
Pharmaceuticals & Software looked bearish.
3 - Europe analysis
highlighted Chemicals; Food & Beverages, Oil & Gas & Retails as
positive and exposed weakness in Autos; Media, Retail, Technology and Travel
& leisure.
This meant a great deal of work was necessary to cover the
myriad of likely opportunities. Analysis over the weekend concentrated on
Energy and Natural Resources. Energy analysis exposed no fewer than 25 extra
possible buy signals and Natural Resources 13 extra buy signals. It is only
necessary now to get these signals triggered by the market and our next period
of progress should be underway.
THE GOLD MARKET
Both the World
Market report and the Sector analysis brought the Gold Market into focus. Good
Bullion is on support as are the UK, US and Canadian Gold Mines Markets. There
are 23 mines lined up with 8 new signals following this weekends analysis
IN SUMMARY
Our attention has been drawn to Gold, Energy
& Natural Resources with Gold being the most imminent. There are also a
number of stocks lining up in the weaker sectors to short which could balance
out the bullish scenario for those following a Long/Short strategy.
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