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All I can to do in this limited amount of space is breifly describe what I see in the market or a stock at a given point in time
Outlooks or projections are purely speculative and can change materially at any time and without notice
Nothing presented here is intended to be given as investment advice
If you use any information presented here, you do so at your own risk

Saturday, August 29, 2009


Check charts at My Public Chart List (link on the right of this page) for more daily updates and look for notes on the charts.
I do believe S&P could see a 5-10% decline after this next peak in the first 2 weeks of September around 1040-1070. It is a little too early to tell exatly where or when it will peak at this point but I am confident S&P will be back below 1000 at some point before the end of Oct. That is the dip I plan to use to add more long positions to hold into yearend or longer.
I have been adding some gold miners recently since the rally in gold that many were expecting for the last 6 months back to 1000 seems to be ready to get started. I look for oil to follow gold's lead and resume the next leg up for a few months after gold peaks as is the case most of the time. The decline of the US dollar is the main catalyst for this, and has not happened yet, but if it breaks the most recent lows soon, that will be my cue to add some more gold or oil positions.
DGP is a great way to play the gold rally too!
I dont think the decline in the dollar will be of the magnitude that I like to play the etfs like UDN or UUP, but if/when the dollar bottoms around 75-76, I may try a long position in UUP.

Enjoy, relax, and let the charts point the way.

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