IBD buy signal

I am short BVN. Target price 25.

Nevada and California Banks Fail

Two more banks fail; FDIC sells deposits
Mutual of Omaha Bank takes over accounts of California, Nevada lenders. Watching this financial collapse is like watching an ice cube melt--slow at first and then accelerating. The FDIC used 10% of its reserves to bail out Indymac. See this link. http://www.miamiherald.com/business/story/606067.html

FORECAST IS CORRECT AND FINANCIAL CRISIS UNFOLDING AS PREDICTED

http://www.house.gov/apps/list/hearing/financialsvcs_dem/roubini022608.pdf

HOW LOW FOR $INDU??

Will the $Trans confirm with a lower close??

Bank Stocks Plunge--Sell Gold and Gold Stocks

Although I remain long term (2-5years) Bullish on Gold and PM stocks with the break in support yesterday I forecast gold correcting to $730 and then another rally to $1000. I also think oil stocks will correct.

Preserving capital during these difficult periods should take on a higher priority than trying to maximize upside profits.

More Bank Failures? Bearish Forecast for Oil

Oil is bearish and I forecast $100 oil in 6 months.



Point and figure chart turns bullish for banks. Is this an important market turn?








The Treasury Secretary warned today of more possible bank failures. I look for gold to be over $2000 by 2010. Junior mining stocks should start to rally after September.

MER down in after hours

FINANCIAL TSUNAMI

Despite government bailout broad market stocks fail to rally. Will we see a 30's style crash???
This is the second year for this blog. Please review earlier posts for gold stock timing models. I remain Bullish for gold stocks but bearish for the broad market. It is getting very very dangerous out there.

FINANCIAL BLOOD BATH

I am still on the fence on copper stocks--once the financial wipeout seems finished I would like to buy Southern Copper. Right now it will remain on my watch list. I still hold FCX.

COMMODITIES TANK

IBD and MER remain bearish despite today's rally. big selloff today in commodities. If $copper point and figure turns bearish I will sell my FCX stock holdings.

The -K- Ratio and timing gold stock buys

http://www.tradersnarrative.com/timing-gold-stocks-using-the-k-ratio-96.html
http://worldbeta.blogspot.com/2008/02/when-is-time-to-buy-gold-stocks.html

$HUI Indicator

This precious metals stock rally has more to run--good chart to time the gold stocks.
from public charts stockcharts.com Joe K. Reed