Gold has Topped

Sorry for the short post.  I've been lost at sea.  My Gold call is topping out.  My call started in February, 15% profit since.  Should reverse by Friday.  DZZ would be a good play to short gold.  My Citibank call is still open.  End target is $5.43.  More to come... Good Luck out there!  HOLD FAST!

The Witch was Right

Back in my Rough Seas post I mention my encounter with the Sea Hag and her prophecy of the SPX 1047.  Like I said in that post, the greed got the best of me, I didn't heed the warning signs, and now I am fighting hard with my RTK position.  Sometimes you have to know when to cut the line.  It's the loss of your tackle that keeps you second guessing, wait too long and the creature pulls your boat down too!  I'd rather lose some tackle then me full boat.  I was a little early on me gold call last week (seems I'm always early, or at least that's what the Sea Hag tells me..Oh!).  I am still watching DGP as the charts be tellin me gold will make a run soon to $1,200 an ounce.  That should bring a boon to the precious metals too, and it is all due to our friendly government's destruction of our currency.  Here is an updated chart on the dollar.  The strong move Friday made me move my top horizontal line a little higher.

You can see there is a little more room to the red line to complete wave 4.  I think this will happen Tuesday.  I look to invest in commodities over the next two weeks when the signal finally comes.  Here is an update of the SPX course I be chartin.

MEDIUM TERM

I have changed my basic premise of an A/B/ 1 of C Primary option to a Primary A complete at SPX 666 and currently topping out an Intermediate a of a Primary B of an overall 4 Cycle (if that makes any sense to ya you've been drinkin the Grog too!)  Good Luck and be careful out in those choppy waters!

Hmmmm Gold!

     The precious metals are about to make their move to new highs for the last time.  Technically the dollar looks to be close to topping out short term.  I see this latest move as a 4 up of an overall, and last, 5 waves down.  Fundamentally speaking I am not sure what will happen to support the charts...A higher unemployment number for January, the Republicans actually agreeing to a health care bill, who knows what.  What I do know is that the charts do not lie.   See for yourself.....

  

I see the dollar topping out Monday or Turnaround Tuesday.  After doing so it will make a 5 wave drop down to $72.5 or below.  This will bring strength to commodities and possibly the SPX (depending on how earnings are going).  I prefer commodities and gold at the moment since they are currently inverse to the dollar.  One ETF I will put on the watch for Monday is DGP.  It is a double for gold.  My charts indicate it will take out the high of $32.97.  The decline of the dollar since March 2009 is the main lift to the stock markets and the charts say there is one more lift to go.  Some more proof of the dollar topping out is a view of the weekly Slow Stochastic listed below. ...

As you can see the weekly line dipped below 80 signaling a corrective move but then reversed telling of an intense speculation buy and what I see as a soon topping out process.  This move should fizzle out into the start of a final move down this coming week and lasting several months.  I look to see the MACD return to the -2 area before the dollar eventually gains strength for good.  The most beneficial plays will be the commodities.  Good Luck and Happy Hunting.

Rough Seas

It's hard to keep on the hunt sometimes when the overall seas be a fightin ya!  And what a fight they are puttin up.  Turbulent winds and waves have pushed our ship off course for the moment.  My trusty charts were showing a sea shelf at SPX 1114 which I though would prevent the beast from diving further.  Alas, way off course am I and that be dangerous with two whales on the line at the moment and the depths of the sea fathomed farther than I thought.  I went to see an old Sea Hag before I left on this trip  January 6th of the new decade.  She told me the beast would pull me lines down to the depths of SPX 1047 at the least.  I should have been listening to the witch, instead the greed got the best of me.  I will be back with an update of the fish I have on the lines.  For now a look at where my nautical charts are a pointing....

BIG PICTURE SPX

The final target lies around SPX 300 in the year 2017.  I know, I be drinkin too much of the Grog.                                     

BIG PICTURE DJIA

As you can see a nice "Sea Hag" Head and Shoulders pattern is forming on the DJIA quarterly charts.  I feel, though it will be volatile, the right shoulder may take the next two years to form.  My charts are predicting the major fall to begin somewhere's around mid 2012. (at least that's what she be tellin me when she's in a good mood)  Once it starts to fall it won't touch bottom until DJIA 3000.  At least that is what the witch be seein in her good eye.  Here's something a little more "near term" though the fog be thick and cloudy....

SPX NEAR TERM

    Yes, I see 2 of C  rolling out to 2012 or this being an (abc)A ending at SPX 666 to an (a) of B with b/c to go until C starts the final down move.  The markets may see a high of SPX 1200 sometime in 2011.  This view may change like the wind in me sails!  Hunt with caution and best of luck to ye out there!

TKOI - One Scary MOFO

This one is not for the faint of heart.  A 15 cent stock Telkonet Inc is currently in a C of 2 down.  This stock has the potential to take out the 75 cent high set in late August 2009.  I am waiting for this monster to get closer to the boat before I throw my harpoon.  I will check back on this one next week - Queequeg

PFSW Has Come Up for Air

  Ships log January 17, 2010.  A decent fish has shown itself on the horizon.  Just Friday this fine specimen jumped 100% out of the waters.  It will take a few days to catch her.  I figure there are two options here.  She is either in a wave 4 of 5 down or 1 of 5 up.  I will sit and wait for the market, I mean sea, to reveal her.  Fundamentally this company has just signed a major deal with Proctor and Gamble which some hunters sense will bring great profit.  For now, I will watch her dive back down before starting the chase. - Queequeg