Watch out for reversal soon ! See the high volume but close low ! Not a good sign.
Monday, May 11, 2009
11:42 am - E&O has broken out for the 3rd time and it is going to run !
Buy today and put your stop @ rm 0.71.
9:43 am - Market Outlook by Bill Wermine
Dear Traders,
I would like to thank all of you for your support at our Gold Conference today. It was a rousing success ! We had a full house and ran out of chairs.
For those who were unable to attend. Let me give you a recap.
First Speaker: Pong Teng Siew, head of research of Jupiter Securities shared his views on the US Dollar which is inversly correlated with gold. He showed a recent Bloomberg chart showing a gradual exodus by central banks from the US Dollar- something that has not happened for over 50 years.
He showed a chart of centralbank holdings of physical gold. China is dramaticlly increasing their physical gold holdings and cutting back on US T bonds.
These are real numbers and real charts: Charts are the truth and the truth is that world investors are losing confidence in Obama and his socialist agenda.
He is long term bullish on commodities and gold as well as CPO.
Mr Pong in my opinion is one of the few objective equity analysts in Malaysia who takes a big picture world approach.
His rates at Jupiter On Line are 0.05 % the cheapest in Malaysia. To tap into his research all you need to do is open an on line account with Jupiter- call 03 2034 1888 and ask for Julian.
His team also gives 2 or 3 hot share recommendations every day with entry and risk levels for quick trades.
Second Speaker: Goh Aik Leong Director of Deutsch Bank Asset Management in Singapore. He presented the case for gold equities. His fund,Am Precious metals deals only in high quality blue chip gold mining companies. His is the only precious metals fund available in Malaysia.
He made the case that gold mining shares are undervalued by 30 % to the gold price a have been recovering due to the world equity rally. If you hold a gold mining share unit trust you participate in the rise of the gold price as well as the sales and earnings of gold mining companies. as well as dividends. Leverage to gold is at least 2 to 1.
Third Speaker: Martin Wong Futures Broker with CIMB shared the technical outlook for gold. He spotted the inverse head and shoulders pattern projecting a rally to USD 1200 per ounce should the USD 1000 level break. He also shared his powerful backtested system for timing which works for physical gold, Am Precious Metal Fund and Futures Gold.
It is a moving average crossover system- on the weekly chart using the 10 and 50 SMA. Buy and sell the golden cross.
Call him for info on this as well as CPO/ CI Futures. 012 207 8633
Fourth Speaker: Isna, Director of Phillip Mutual- if you wish to subscribe to Am Precious Metals give her a call at 03 2783 0300
Minimum investment is only RM 1000. Less than the cost of a good camera or suit of cloths and guess what you have a growing asset as well as a hedge against inflation
I was the MC of the event and showed my Roman gold coin which was minted at the time of Ceaser. At that time you could buy a horse with that coin. 2000 years later you could sell the coin to a dealer and with the proceeds buy a fast horse.
This is proof that gold is a store of value and should continue to be. Paper currencies are doomed to lose value.
We also shared info on the gold scams going around Malaysia. If it is offshore, over the internet, and looks too good to be true
avoid at all costs. You will be fleeced like the lamb.
Only deal with licensed brokers or banks. or established gold dealers. Also avoid individual gold mining companies especially the smaller ones. Many are run by crooks, scam artists. Only deal with a well established gold unit trust such as Am Precious metals.
If you have any questions on any gold investment, I am happy to answer them and can run them through the Phillip Securities Compliance Arm. This might save you from substantial losses.
Weekly chart of Comex Gold showing accumulation by smart money and reverse head and shoulders with Martin's golden cross system which recently triggered long.
Have a good week
I would like to thank all of you for your support at our Gold Conference today. It was a rousing success ! We had a full house and ran out of chairs.
For those who were unable to attend. Let me give you a recap.
First Speaker: Pong Teng Siew, head of research of Jupiter Securities shared his views on the US Dollar which is inversly correlated with gold. He showed a recent Bloomberg chart showing a gradual exodus by central banks from the US Dollar- something that has not happened for over 50 years.
He showed a chart of centralbank holdings of physical gold. China is dramaticlly increasing their physical gold holdings and cutting back on US T bonds.
These are real numbers and real charts: Charts are the truth and the truth is that world investors are losing confidence in Obama and his socialist agenda.
He is long term bullish on commodities and gold as well as CPO.
Mr Pong in my opinion is one of the few objective equity analysts in Malaysia who takes a big picture world approach.
His rates at Jupiter On Line are 0.05 % the cheapest in Malaysia. To tap into his research all you need to do is open an on line account with Jupiter- call 03 2034 1888 and ask for Julian.
His team also gives 2 or 3 hot share recommendations every day with entry and risk levels for quick trades.
Second Speaker: Goh Aik Leong Director of Deutsch Bank Asset Management in Singapore. He presented the case for gold equities. His fund,Am Precious metals deals only in high quality blue chip gold mining companies. His is the only precious metals fund available in Malaysia.
He made the case that gold mining shares are undervalued by 30 % to the gold price a have been recovering due to the world equity rally. If you hold a gold mining share unit trust you participate in the rise of the gold price as well as the sales and earnings of gold mining companies. as well as dividends. Leverage to gold is at least 2 to 1.
Third Speaker: Martin Wong Futures Broker with CIMB shared the technical outlook for gold. He spotted the inverse head and shoulders pattern projecting a rally to USD 1200 per ounce should the USD 1000 level break. He also shared his powerful backtested system for timing which works for physical gold, Am Precious Metal Fund and Futures Gold.
It is a moving average crossover system- on the weekly chart using the 10 and 50 SMA. Buy and sell the golden cross.
Call him for info on this as well as CPO/ CI Futures. 012 207 8633
Fourth Speaker: Isna, Director of Phillip Mutual- if you wish to subscribe to Am Precious Metals give her a call at 03 2783 0300
Minimum investment is only RM 1000. Less than the cost of a good camera or suit of cloths and guess what you have a growing asset as well as a hedge against inflation
I was the MC of the event and showed my Roman gold coin which was minted at the time of Ceaser. At that time you could buy a horse with that coin. 2000 years later you could sell the coin to a dealer and with the proceeds buy a fast horse.
This is proof that gold is a store of value and should continue to be. Paper currencies are doomed to lose value.
We also shared info on the gold scams going around Malaysia. If it is offshore, over the internet, and looks too good to be true
avoid at all costs. You will be fleeced like the lamb.
Only deal with licensed brokers or banks. or established gold dealers. Also avoid individual gold mining companies especially the smaller ones. Many are run by crooks, scam artists. Only deal with a well established gold unit trust such as Am Precious metals.
If you have any questions on any gold investment, I am happy to answer them and can run them through the Phillip Securities Compliance Arm. This might save you from substantial losses.
Weekly chart of Comex Gold showing accumulation by smart money and reverse head and shoulders with Martin's golden cross system which recently triggered long.
Have a good week
Bill
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