Quote

Aden Forecast The markets are bouncing up. . .

ReportGold
Date06/08/2010
Loaded Date06/09/2010
TitleCurrent Weekly Update
QuoteMARKETS BOTTOMING

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. Meanwhile, the gold price remains strong near record highs. 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.

The gold price remains very strong near the highs and within a nine week soaring rise. The gold price is very strong by staying above $1200. If it closes above its May 12 closing high near $1245, it could easily jump to the $1300 level. Meanwhile, the rise since March is solid above $1155. Silver and gold shares are firm with gold. While not as strong as gold, both are strong and solid by staying above $17.65 and 435 for the HUI index. They'd show great strength above their May high at $19.66 for silver and 492 for HUI. Our gold and silver positions are doing great and have clearly been the best. . .keep them.

Platinum and palladium are moving with resource and energy. They are stabilizing at a bottom area by staying above $1490 and $419, respectively. A renewed rise would be underway above $1430 and $490.

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.

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.

Best wishes and until next Wednesday,

Pam and Mary Anne