Sunday, March 2, 2008
Weekly Update
THIS CHART is a look at the monthly candles for the S&P 500. It reminds me of a scene from a movie called "The Missing" with Tommy Lee Jones when he had to make the decision to powerdrive his enemy off the edge of a cliff knowing that his momentum would carry himself over the edge also. By doing so, he saved his daughter and grandchildren, but he also fell to his death. Now if you look back to 1998 on the chart in which you will see a long red candle that appears at the time of the Russian default. Just a blip on the radar for our markets but look how strong Russia's economy is now. Who, would you say is reaping the most from the end of the COLD WAR! It took a few years but we paid the price starting in 2000 with the worst bear market for stocks, (but the beginning of the great bull market in commodities) since the great depression. This would lead me to keep a close watch on the markets of the soviergn fund countries over the next couple of years. They may do pretty well over the next few years but someone will take a major fall just as we did by helping to bail out the Russians.
Now for the latest Moosignal. I'm posting before it is updated so you may have to hit the refresh button on the link. My thoughts are the signal will be to continue holding GLD. Although had I entered the trade at the last switch I'd surely place a trailing stop just below the BLUE TRADING BAND on the chart.
As for a GARP SPOTLIGHT stock I think it may be time to take a look at ATRO. Even if ASTRONICS receives a few crumbs off the orders for defense and passenger jets it could do OK.
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