Weekly
Futures Report by Jake Bernstein
For
the Week Beginning: Monday 14 APRIL 2003
by
Jake Bernstein
Specific
recommendations to buy or sell at exact prices etc. are not given in this report.
This report is provided as a free courtesy to those who are interested in general
market commentary. EXACT
trading recommendations with precise entry/exit and follow up are provided in
our Daily Hotline and Weekly Newsletter which are available by paid subscription
only. To get our BEST recommendations, subscribe to the hotline and newsletter
by calling 800-678-5253 or 847-446-0800. The
newsletter and hotline have been in continuous publication since 1972,
providing
excellent service to traders, speculators, hedgers and producers all over the
world.
United
States Futures Markets
Market
Commentary and Trading Suggestion(s)
|
Key
to Abbreviations: ST =
Short Term;
IT =
Intermediate Term; LT
=
Long Term; R
=
Resistance; S
=
Support T
= Topping.
B =
Bottoming +
=
UP -
=
DOWN 0
=
NEUTRAL or SIDEWAYS SENTIMENT
DSI =
Daily Sentiment Index. When DSI is low, the majority is bearish & prices are
likely to rally. When DSI is high, the majority is bullish & prices are likely
to decline. DSI is our proprietary contrary opinion indicator. Support and resistance
levels are approximate. TREND refers to short-term trend or as otherwise noted
in the text. |
|
METALS
GENERAL
COMMENTS
Trends:
B/+ The
long term bull trends CONTINUE as predicted many months ago for silver and gold
and platinum. Palladium has made a short term low on my indicators and should
soon rally. Copper remains in an intermediate term up trend. A seasonal rally
was expected in copper and it developed. My long term STRATEGY in the precious
metals HAS BEEN CORRECT. A short term top was expected in gold and it has developed
as predicted. Gold and silver could still rally once they recover from the current
tests of long term support as discussed in my weekly newsletter. Details below..
For specific buy and sell recommendations subscribe to the Weekly Newsletter and
Daily Hotline call 1-800-678-5253 or 847-446-0800 (available via Internet). You'll
get 13 weeks of specific trades, an 8 page highly informative newsletter weekly,
FREE Special Reports, and MAJOR DISCOUNTS on books, tapes and seminars.
Copper:
The
trend continues intermediate term bullish as previously projected. I expected
a rally into the March seasonal highs and a decline thereafter. the decline is
developing.
Gold:
An approx. 8 year cycle low has been made.
Resistance was tested and a top was made due to short term bullish sentiment having
been excessively high. There is no change in my long term bullish stance. It has
been highly correct and I remain bullish for the intermediate and long term. A
short term low is likely soon, but there are no buy signals as yet but we will
soon get a chance to go long.
Palladium:
I
have been bullish for several years, projecting a rally to $1000. My target was
hit and surpassed. A short term low has been
made. Don't be surprised if major players exit longs in platinum and switch into
palladium. The trend remains intermediate bottoming and long term bullish. Palladium
is thinly traded and should therefore be avoided by all but the most experienced
traders. CAUTION:
Palladium is NOT for beginners due to lack of liquidity and the propensity for
large price swings. "At the market" orders should be avoided. USE LIMIT
ORDERS!
Platinum:
CAUTION:
Platinum is NOT for beginners due to lack of liquidity and the propensity for
large price swings. USE LIMIT ORDERS!
"At the market" orders should be avoided.
Platinum and palladium
are my favorite long term bullish picks in the metals, however, they are too thinly
traded and not appropriate for most traders or investors. Platinum and palladium
mining shares are viable alternatives to positions in futures or bullion. The
short term trend is LOWER with gold and silver.
Silver:
The long term
trend is up. I advised you that "some of my market trend indicators are beginning
to suggest that a downside correction is possible". The correction down developed.
My long term charts show major bullish momentum divergence. LONG TERM traders
and investors are advised to buy and hold silver for the long term on declines
to support. Specific recommendations are given via the hotline.
|
|
NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...NEW...
2003
Edition
High
Odds Seasonal Trades 5.0 ON-LINE
CLICK HERE for a FREE TOUR
Over 1,000,000 key
date trades in futures, stocks and spreads selectable by percent accuracy, P/L
ratio, market, month, entry date etc.
| |
|
Outstanding
Trading Systems by Jake Bernstein
SERIOUS TRADERS ONLY
Short Term, Intermediate Term, and Long Term Trading
Systems
I
sell only a Limited Number of Copies of my best trading systems - for details
and current positions
CLICK
HERE |
|
GRAINS
GENERAL COMMENTS
Trends:
B/+
My advice for the last few months has been bullish. Major long term rallies have
continued almost exactly as predicted (i.e. corn). For specific grain and soybean
complex recommendations subscribe to my daily commodity hotline. Sentiment in
corn and wheat is VERY LOW and suggests that a rally could continue. Short term
trends are NOW bottoming or bullish. Soybeans are in a very bullish trend. . For
specific buy and sell recommendations subscribe call 1-800-678-5253 or 847-446-0800
(available via Internet). You'll get 13 weeks of specific advice, an 8 page highly
informative newsletter weekly, FREE Special Reports, and MAJOR DISCOUNTS on books,
tapes and seminars.
Corn:
Long term support
developed as predicted. Daily sentiment is now extremely low, suggesting a bottom.
Commercials are slowly but surely covering short positions. This also suggests
that the rally should continue.
The daily hotline has given specific recommendations. The
odds suggest that a long term cycle low has been made.
Oats:
A major
rally was expected and has developed. Avoid the market due to thin volume.
Soy
Complex:
I expected
intermediate term and long term support and a major rally. A weekly CLOSE above
the December, January, or February highs has been very bullish as predicted. Soybean
oil is rallying strongly, also as predicted.
Wheat:
The
market declined to intermediate term and long term support before rallying. Seasonals
are ideally BEARISH. DSI is VERY low suggesting the possibility of a continued
short term rally. |
|
ENERGIES
GENERAL
COMMENTS
Trends: B Heating
oil, crude oil, natural gas and unleaded gas are all in down trends following
my bearish forecast. For
specific buy and sell recommendations subscribe to the Weekly Newsletter and Daily
Hotline call 1-800-678-5253 or 847-446-0800 (available via Internet). You'll get
13 weeks of specific trades, an 8 page highly informative newsletter weekly, FREE
Special Reports, and MAJOR DISCOUNTS on books, tapes and seminars.
Petroleum
Complex:
I told you to expect
a top. It developed as predicted. See weekly newsletter for specific resistance
levels and timing. BE CAREFUL - my DSI indicator is now excessively low. The major
bull market in natural gas which I correctly predicted many weeks ago has come
to pass. SHORT TERM LOWS ARE DEVELOPING - DO NOT CHASE!!! TROPICALS
Cocoa:
The
market hit an area of long term resistance that was expected to top. It did. The
trend remains bearish. Commercials have been exiting longs, suggesting a top.
The decline should continue.
Coffee:
DAILY
SENTIMENT is very low. Note that coffee futures are among the most volatile and
risky of all markets - be careful and act accordingly by avoiding at the market
orders. AWAIT WHAT COULD BE A MAJOR NEW BULL MARKET.
To
subscribe to my daily recommendations hotline and 8 page weekly newsletter call
1-800-678-5253 or 847-446-0800 (available via Internet). You'll get 13 weeks of
specific advice, an 8 page highly informative newsletter weekly, FREE Special
Reports, and MAJOR DISCOUNTS on books, tapes and seminars. My newsletter has been
in continuous publication since 1972!
OJ:
Seasonal
is bearish but sentiment is now extremely low and long term support is being tested.
Sugar:
The
trend is now short term bearish but a low is due.
MEATS
GENERAL
COMMENTS
Trends: B/+
Cattle:
An intermediate term bull trend remains in effect. Seasonals are ideally bullish.
The short term trend is bottoming. New contract highs still likely in Jun cattle.
For
specific buy and sell recommendations subscribe to the Weekly Newsletter and Daily
Hotline call 1-800-678-5253 or 847-446-0800 (available via Internet). You'll get
13 weeks of specific trades, an 8 page highly informative newsletter weekly, FREE
Special Reports, and MAJOR DISCOUNTS on books, tapes and seminars.
Bellies
/ Hogs: A
seasonal rally is now due in hogs. Bellies are essentially untradeable due to
virtually non existent volume and will be dropped from the weekly analysis.
To
subscribe to my daily hotline and weekly newsletter call 800-678-5253 or 847-446-0800
(available via Internet). You'll get 13 weeks of specific advice, an 8 page highly
informative newsletter weekly, FREE Special Reports, and MAJOR DISCOUNTS on books,
tapes and seminars.
|
|
Stock
Market Strategies that Work
by
Jake and Elliott Bernstein
A fantastic new book that teaches you winning strategies
to use in stock trading
Click here for
details
Momentum
Stock Selection
by
Jake Bernstein
A Highly Specific Method for Finding Major
Moves in Stocks (and Futures) BEFORE they Begin!
(Available
from my office, bookstores or at our NEW BOOKSTORE. Click
here for details |
S&P
/ Dow:
The 4 year cycle was tested and has likely been confirmed
as projected. Technical
indicators suggested a recovery. Prices could now climb the proverbial "wall
of worry" as stocks move higher in the face of international political events.
Watch for a possible short term top based on high daily sentiment readings. For
a FREE recent issue of the Bernstein on Stocks (one time offer), send your
FAX number to me at 847-446-3111 or to
jake@trade-futures.com.
TBond
/ TNote / EuroDollar: The
long term cycles are bearish on futures, suggesting also that cash interest rates
in all time frames could head higher once the war is over. A short term low is
developing based on very low daily sentiment.
Currencies:
The
Swiss and Euro Currency markets made long term lows against the US Dollar per
my forecasts. The short term trends in Euro, Swiss and BrPound are now bearish
as predicted. Yen made a short term low and rallied as predicted. CAUTION - bullish
SENTIMENT was TOO HIGH TO SUPPORT CONTINUED RALLIES. I advised you to LOCK IN
90% of open profits with trailing stops on a CLOSE ONLY basis. Stand aside waiting
for another buying opportunity AFTER the current correction down is over.
|
5-6
year cycle low was successfully tested. Some of my computerized trading systems
have given buy signals. The short term trend is bullish. |
Trend:
B/- Lumber
is thinly traded. The seasonals are highly reliable but given the thin volume
and high volatility this market is essentially untradeable. New traders are advised
to use limit orders or to avoid lumber entirely. Trend remains bearish.
|
A short term top has been made due to bear trends in the energies. Short term
low likely soon. BE
CAREFUL...market sentiment is too high suggesting a short term top in a number
of the component markets of the index as well as in the index itself.
|
Selected
International Futures Markets |
CAC-40:
A
low was overdue based on support and sentiment indicators. Trend is bullish.
DAX:
A
low was overdue based on support and sentiment indicators.
Euribor:
Top
was expected and has been made. Short term low is due
Euro
Bund: Top
was expected and has been made. Short term low is due
FTSE:
A
low was overdue based on support and sentiment indicators.
Gilt:
Trend
is bearish. The
Daily Sentiment Index Europe (DSIE) is used by top traders and professionals throughout
the world. Call 1-800-678-5253, 847-446-0800 or e-mail us for details.
Japan
Bond: Sentiment
remains was high to support a continued rally
Nikkei:
A
test of the lows has been passed. Short term up trend remains in effect
Schatz:
Top
was expected and has been made. Short term low is due
Short
Sterling: Top was expected and has been made.
Short term low is due
|