Quote

Aden Forecast "The resource sector is strong."

ReportEnergy
Date07/28/2010
Loaded Date07/29/2010
TitleStock Market Looks Good
QuoteThe stock market is looking good. This week several of the U.S. stock indices hit 2- to 6-month highs, and they're all back above their key moving averages. This tells us that stocks are going to rise further. Plus, the Dow Theory triggered a new bull market signal on Monday. As Dow Theory expert Richard Russell points out, by simultaneously breaking above their June highs, the Dow Industrials and Dow Transportations are now signaling that the stock market trend is up. And since our own leading indicators have room to rise further, stocks will likely continue to head higher at least in the months ahead. For now, the Dow Industrials will remain very strong above 10400. Most of our recommended stocks are rising and we expect they'll move much higher, along with the general market. Keep your current positions.

The resource sector is strong. Copper and the other base metals are on the rise, while our resource shares are rebounding nicely, (see chart). Even uranium rose this week, closing at an almost nine month high today. This sector rises when the global economy shows potential and copper is the barometer. Copper closed at a 2 ½ month high today, it's in a solid uptrend above $2.92 and it's strong above $3.08. Keep your positions. Crude is following; it's strong above $76 and it's in a solid rise above $73.50. Oil above $80 would show great strength.

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