Quote

Aden Forecast "be prepared to sell during the likely upcoming rebound rise"

ReportEnergy
Date06/02/2010
Loaded Date06/03/2010
TitleStay Put, Be Prepared
Quote"The markets are bouncing up and it looks like they have reached bottom for now. . .that is, the stock market, energy, resource, the yields and some currencies. We will continue to keep our positions and wait for a rebound rise to develop to sell part of our positions, depending on how the markets unfold.

Crude and copper would look good in a renewed rise above $75 and $3.25, respectively. Our resource and energy shares are poised to rise with oil and copper.

Even though it’s only been one week, the stock market also looks like it may be putting in at least a mini bottom. Here too, the markets are very oversold and they’re holding above their February lows. Some of the resource and energy stocks, and Mexico, for instance, look like they're leading the way up. Plus, all of our recommended stocks (resource, energy, U.S. and global) are bottoming and/or starting to rise from extremely oversold areas. Renewed rises would be underway if the Dow Industrials can rise and stay above 10350, as well as 4500 for the Transports and 2330 on Nasdaq. Here too our strategy is the same. . .hold the stocks you have, don't buy new positions and be prepared to probably sell and/or lighten up during the likely upcoming rebound rise."