NEWSLETTER | June 2007 | Issue 7 | Vol. 1

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• The O. Report: Don't Forget Greenspan
• The Dow and S&P Parade

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• Monthly Option Strategy: Bull Call Spread

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The Dow and S&P Parade

Published Date: June 1, 2007
Mark Fichera

Sitting at the desk in my hotel room in Glenview, IL, a picturesque, quiet Chicago suburb, one has to marvel at the Stock Market's persistent march to all-time highs in the DOW 30 week after week. The S&P 500 also joined the parade. Only the NASDAQ stands alone. It just reached a level that is approximately 1/2 of its 5000 plus peak reached in early 2000. The generic market story remains the same, lots of cash and a shrinking supply of stock!!! There seems to be a company stock buyback and a merger or leveraged buy-out announced almost every day. The intermediate trend is still intact. It is still bullish and points to higher prices during 2007. Short term, a correction could occur at any time, but anticipating one is not the correct strategy.

Precious Metals, Gold and Silver have been at least on “Vacation” for the past year and a half. They have been trapped in a broad trading range. There are currently signs of a possible change in this pattern. Silver has started to outperform Gold, and there have been a few occasions recently, including yesterday, that both have had positive closes versus a mixed or negative day for the overall market. A 670 dollar print for Gold and a continuation of Silver's relative strength compared to the yellow metal, should lead to no less than a move back to the high end of the range. The longer term trend is still positive!!

That's all folks. Heading back home, need to pack and not be late for the plane. Stay safe and enjoy your summer!!!!

The opinions and commentary provided by the advisors in the My Automated Advisor Newsletter are the opinion of those advisors and not of My Automated Advisor.

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