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I posted on Tuesday, August 17th that the Dow Jones will drop to 10,000 points from 10,450 points then bounce a bit, and again head lower to the next support level 9,600.  As you can see from trading the actions of August 26 and 27 that it is exactly how it is playing out.

Gerald Celente of Trend Research is not afraid to tell it like it is based on data and facts his Trend Research company analyzes.  It may sound doom and gloom, but it does make a lot of sense what Gerald is saying.  The U.S Government would have you believe otherwise, by putting out in the media false unemployment data, that’s because the U.S Government doesn’t want the people to panic, so they make things seem better than they really are, until it is too late.

Looking at the 6 month chart for the DJIA, it looks like the market is at the beginning of a downtrend, the 10 and 200 day moving average is well over the price adding to downward pressure, however it looks like their might be a small pop upwards as the price hits the 50-day moving average, but after that my guess is that the downward trend will continue bringing the Dow Jones down to 10,000 and if it breaks past that down to 9,600 again.  Also looking at the MACD it looks like a downward indicator as well ( please read my disclaimer).  I have been wrong before so do your own due deligence, this is just my read on the market.

Here are more comfortable travelling shoe reviews (continued from Part 1)

4. Ahnu Drake

The Ahnu Drake is a snug fitty slip-on shoe. You’re probably thinking that these shoes will come off easily, but the tight elastics of this techy looking shoe will keep it snug on your feet. Once, on the Ahnu Drake feels very much like comfy sneakers, it features re-inforced toe-box area, uppers are waterproof and the soles are quite sticky for great traction. Price: $99

The paragraph below was taken from an “MarketWatch“ article.

“And according to an analysis by the Central Intelligence Agency, the U.S. has one of the most unequal income distributions in the world. In this field, most of the developed world is pretty much in line — Japan, Italy, Australia, Canada, Norway, Great Britain. Some are more unequal than others, but all are comparable. In each case, of course, the rich make more than the middle class, sometimes a lot more. But they generally occupy the same economy.The U.S.? Our income distribution is more in line with Zimbabwe, Argentina, and El Salvador. We think of Russia as the land of oligarchs, but America’s inequality is actually slightly greater than Russia’s.

This review is both about DVD 4 of Timothy Sykes PennyStocking stock trading program as well as a review of the whole course content DVD 1-4. I will fist talk about DVD 4 and then about the overall quality of information of the entire course.

Timothy Sykes PennyStocking DVD 4 Review

Looking at my stock and index chart indicators, it looks like the markets are headed south for the next leg.  I got out of my position over 2 weeks ago and now it is basically a waiting game, the indicators tell me that I should be in all cash and possibly the DJIA (Dow Jones Industrial Average) is going back under 10,000 within the next month.

Here’s a great article about what the U.S Government is telling the public versus what is really going on in the job market, the U.S debt and where the American social system is going.

Have a read of the CBS MarketWatch article:

The Three Biggest Lies About the Economy

I recently bought some contracts in iShares Silver ETF (SLV) for Jan 2011 @ $19. Why am I now looking into silver, my reasoning behind it is that the stock market at this point may have topped and for the rest of the summer most likely will go down ( as mentioned in last article). In light of this, GOLD and SILVER have an inverse relationship to the stock market, so my speculation is that within the next six months when the stock market goes down the price of silver will be rising. The iShares Silver ETF is currently trading at $18.43, and I am speculating that it will be above $19 by years end.

The recent run up in the stock market allowed me to close the positions I had in the two stocks that I have been following which were BBD.A-TO and MVIS. This is a relief because I wanted to make sure that I am not holding any stocks from this point forward, until some bargains presents itself.