Gold Target for Week of February 22nd

Buy: $1115 | Stop: $1106 | Target: $1149 | Quick Target: $1135

Hey guys, I don’t see gold breaking past the $1150 barrier this week although I see it in the future cards. Look for the quick move up to $1135 and start your buying around $1115. For all the gold bugs out there, we should be at $1500 right now but you can thank the Euro zone for ruining that party. Until Greece figures out their debt problems, gold will not be off to the races. Happy trading!

Economic Predictions for 2010

After a stellar recorded year for 2009, it’s time to make my predictions for 2010. The volatility we saw in the previous two years is going to dramatically slow down. Economic regulations will come into play and stability will come into the markets. We may see some volatility within the commodity and forex markets, but don’t expect the DOW and S&P to move all that much. Here are my predictions for 2010

• S&P will be range bound, between 1050 and 1250. We definitely won’t past 1350. I believe our low will be 1075 precisely. If we fall below, buy buy buy!
• Companies that profit and have cash will surge. Companies without the cash are going to get slaughtered. Expect a lot of volatility in the micro perspective of the stock market, but on the macro perspective the index will be range bound.
• Blue chip companies like GE, POM will have a banner years.
• I’m expecting Gold to continue towards $1500-$2000 this year.
• The banking sector will strengthen in the later half of the year with companies like Bank of America leading the charge. I like Citigroup as well.

Overall, this can be a great year for many of us as long as we stick to the right sectors at the right time. I wish everyone luck in their trading!