Week of 30th March 08, S&P 500, Soybean
Click to enlarge
Stock Index Corner: S&P 500
S&P500:
The latest S&P 500 weekly chart is flashing "bears" are back !! Last week only had one day of UP day on Monday and gave back all its gains over the next several days. The Bulls are in possible trouble and the the medium term downtrend may continue for the next several weeks.
If the support 1260 is broken, then 1170 would be next major support based on 50% retracement of the major trend.
Big Picture: (monthly): Bearish
Medium term (weekly): Sideway to Bearish (Power Indicator lower than previous week's)
Short term (daily): Bearish
Fundamental:
The S&P 500 index exceeded the highs set in 2000, but there are some serious problems to consider. On March 18, 2008, Standard & Poors said that they expect the operating earnings for the S&P 500 companies to have dropped 5.9% in 2007, but be up 16.8% in 2008. Given the problems with subprime mortgages and the slow housing sector, Iraq, Iran, high energy prices, the weak dollar, and big increases in federal spending, the earnings growth estimate for 2008 sounds too good to be true.
The S&P 500 index exceeded the highs set in 2000, but there are some serious problems to consider. On March 18, 2008, Standard & Poors said that they expect the operating earnings for the S&P 500 companies to have dropped 5.9% in 2007, but be up 16.8% in 2008. Given the problems with subprime mortgages and the slow housing sector, Iraq, Iran, high energy prices, the weak dollar, and big increases in federal spending, the earnings growth estimate for 2008 sounds too good to be true.
Major World Indexes
Medium term trend: UK FTSE (Sideways), Nikkei (Down,), Australian ASX (Sideways), Shanghai FXI (down)
Commodity Corner: Soybean
Technical:The technical picture is getting bearish for the Soy family as a whole. The Soybean May fell to 38.2% level before bouncing back. The daily shows the downtrend may continue for the weekl ahead. THe Corn however has bounced back more strongly than the Soybean, but unlikely it will take out the March 13th's high.
Fundamental:
On March 11, 2008, the USDA reduced its estimate of 2007-2008 ending stocks from 160 to 140 million bushels, down from 574 million bushels in 2006-2007. The resulting 2008 ending stocks to use ratio is 5%, the lowest in four years. Worldwide, the USDA estimated that 2007-2008 ending stocks will drop from 63 to 47 million tons or 20% of annual use. Brazil and Argentina's soybean crops are only expected to increase slightly in 2008. In 2007-2008, the USDA expects exports to be down 8% and so far, they are down 3% from a year ago.
Fundamental:
On March 11, 2008, the USDA reduced its estimate of 2007-2008 ending stocks from 160 to 140 million bushels, down from 574 million bushels in 2006-2007. The resulting 2008 ending stocks to use ratio is 5%, the lowest in four years. Worldwide, the USDA estimated that 2007-2008 ending stocks will drop from 63 to 47 million tons or 20% of annual use. Brazil and Argentina's soybean crops are only expected to increase slightly in 2008. In 2007-2008, the USDA expects exports to be down 8% and so far, they are down 3% from a year ago.
Note: the above fundamentals are exerpts of dailyfutures.com
Trading ideas : (please do your own research and apply your profit/ stops management rules in all trades, please note except options writing, all the other trades may last just several days)
Writing Options: Emini S&P 500 OTM Calls, Gold, Soybean OTM Calls
Futures: Short Sugar & Soybean (for very short term play, 3-5 days)
Futures: Short Sugar & Soybean (for very short term play, 3-5 days)
Stock Options: Long BAC Puts, Long FSLR puts
posted by "Frank" at Sunday, March 30, 2008
2 Comments:
Good day !.
You re, I guess , probably curious to know how one can manage to receive high yields .
There is no need to invest much at first. You may commense to get income with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with affiliates everywhere: In USA, Canada, Cyprus.
Do you want to become really rich in short time?
That`s your choice That`s what you really need!
I feel good, I began to take up income with the help of this company,
and I invite you to do the same. It`s all about how to select a proper partner utilizes your savings in a right way - that`s it!.
I earn US$2,000 per day, and my first deposit was 1 grand only!
It`s easy to start , just click this link http://hemynefed.arcadepages.com/gapalo.html
and lucky you`re! Let`s take our chance together to feel the smell of real money
Good day, sun shines!
There have been times of troubles when I didn't know about opportunities of getting high yields on investments. I was a dump and downright pessimistic person.
I have never thought that there weren't any need in large initial investment.
Now, I feel good, I started take up real income.
It's all about how to choose a proper partner who utilizes your money in a right way - that is incorporate it in real business, and shares the income with me.
You can ask, if there are such firms? I'm obliged to answer the truth, YES, there are. Please get to know about one of them:
http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]
Post a Comment
<< Home