Stocks – Intermediate Trend – Up, Short Term Trend – Up

New highs, a lower close. A classic reversal pattern. The S&P 500 and the stock market put in its worst week in three months. The correction in June was short and ultimately shallow. The market dropped and tested its 40 week MA then in mid July the market turned up sharply and we have been on a upward trajectory since then. At its high last week the S&P 500 was roughly 20% above both its 200 day and 40 week MA. Not even during the long upward march to the highs in October 2007 did ….  read more inside… click here.

Bonds – Intermediate Trend – Down, Short Term Trend – Neutral

US Treasury Bonds fell again this week although we managed to close above the gap down opening level. The trigger for the end of the week rebound was the weak US housing data as existing home sales fell 2.7% in August and new home sales were below expectations but still managed a .7% gain. US durable goods also fell 2.4%. The weak numbers were a quick demonstration that while there have been somewhat upbeat numbers of late this recession is far from over. Even the numbers that showed some growth were coming from a depressed … read more inside… click here.

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• S&P 500 pushing higher. But we are at some extremes not seen in years and at a period where market turns do occur.
• Still we continue into October with potential targets up to 1120 S&P 500.
• Bonds turned down this past week and Canadian bonds were especially hard hit.
• Gold continues to trade above $1000 but some strength in the US$ seen at the end of the week could signal another attempt at pushing it back from this key psychological level. Ultimately though we expect we will push through $1000 and the key area to hurdle is at $1030-$1035.
• Oil prices continue to trade under the key breakout level above $74/$75. Natural gas prices have given us a number of buy signals as we have jumped sharply from the recent lows.

Next Saturday we will be speaking at the Toronto Resource Investment Conference being held at the Metro Toronto Convention Centre, North Building. Schedules can be found at www.cambridgehouse.ca.

Our three portfolios continue to perform very well. Our conservative portfolio is up 4.5%, the gold portfolio is up 9.7% while the junior exploration mining stock portfolio remains the best thus far up 15.3% all since our inception date of August 17, 2009. (Note: the return on the conservative portfolio and the gold portfolio is before any dividends).

Thus far our three portfolios are performing well. Our conservative portfolio is up 3%, the gold portfolio is up 5% while the junior exploration mining stock portfolio has been the best thus far up 9.6% all since our inception date of August 17, 2009. (Note: the return on the conservative portfolio and the gold portfolio is before any dividends).

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With a little over two weeks behind us we can report we are up on our three portfolios. The best performer to date is the junior exploration portfolio up 5.7%. The Gold portfolio is up 3.1% and the Conservative portfolio is up 1.7%. The latter two are of course before dividends.

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