Dear Members,
Now, it is certain that a rate cut is coming, but we are expecting 50 basis points, which may push a few commodities like metal and grains higher. This week's letter has very bullish comments on precious and base metals; we are expecting most base metals to bottom out this week. Also, a rate cut will push FAS, TNA, and NAIL to move sharply higher if it is a 50-basis rate cut, which I am expecting.
Our view on Bitcoin is still negative, so avoid buying it and get ready to sell more next week after the Fed events. We don’t see Bitcoin going above $63888 now in 2024. Last month, we recommended shorting Bitcoin and crypto.
On Monday, markets held value very well. PLTR was recommended at $7.75, and even at $34, one can add more positions. IMMR, MAX, and IOT will move higher. Stay long in most of the recommended stocks, but Tuesday, Scorpio Moon, so the market will move both sides.
CPI data on Wednesday and jobless, PPI, and ECB rate decisions on Thursday will bring some volatility, so wait for this week, but next week will be the best one to take the bet.
ORCL announced positive earnings as expected, and ADBE will announce strong earnings this week, so stay long.
Time to start building aggressive long in grains as they achieved our lower side target, and now they will move 30% higher in the next six months so build aggressive call options.
Cocoa and Orange Juice will lose value from Thursday and Friday.
Most of the frontline currencies lost value on Monday as predicted, and on Tuesday, we are recommending adding more short positions in Swiss Franc and Japanese Yen. Also, the Australian dollar. The euro and Pound will move higher.
Thanks & God Bless
Mahendra Sharma