Principal Asset Development

Tuesday, February 24, 2009

RIMM

Would ya buy RIMM below $36 with a stop @ $35?
Hmmmmmmm..............tempting?????

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How's that short working out on Amazon Bruno?.....Not too good......You may have another chance to short around $67. If the recent highs are not taken out look for the gap up in late January to be refilled in the low $50's. But all bets are off if breaks out above $67.36 then look for $80.

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Monday, February 23, 2009

XLY

All because no one is spending.........
Consumer Discretionary spending tanking to retest Nov 08' lows...

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XLK

Tech getting crushed.....

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$RUT

A longer term look at the Russell 2k...
Looks like 316'ish to me....

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$SPX

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IWM

IWM looking interesting from a monthly perspective. If this breaks where is the bottom?

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$INDU

Hate to say I told ya so, but will it hold here.......

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Thursday, February 19, 2009

$TNX

10 year note edging back to resistance @ 30.74

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Crude

Crude at critical levels....Oversold? Or have we yet to see the bottom? When Crude turns so will the market......

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Tuesday, February 17, 2009

$INDU

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$SPX

Will the 2003 lows hold? 794.84

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$SPX

Broken triangle....

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Monday, February 16, 2009

What to do when the market is closed......

Wednesday, February 11, 2009

Crude monthly

Long term look at Crude...

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$TNX

A possible target can be found by throwing up some Fibonacci lines.....16.27 anyone?

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$TNX

Now let's take a look at the 10 year note on a monthly scale....
Bottom line is money is cheap, but it may get cheaper.......

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$TNX

10 year treasury note bounced off of resistance....This 1 year daily shows the failure to pierce the 30.74 mark.

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ProphetCharts: $SPX

Will the triangle be broken or will the release of the "Stimulus" push the market back to the topside of the traingle?

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Friday, February 6, 2009

: $SPX

Well the 2 year math up
and then the 5 year matched up
s I went to the 10 year and have come to the conclusion that the S&P 500 could visit 610....

So my play book for the next 18 months is still short, but more aggressively so at anything close to S&P 900 or higher. Perhaps the 2nd wave up after the stimulus plan wil be the time?

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ProphetCharts: $SPX

Most interestng is this 90 day Fibonacci shown on a 9 month daily:

Fairly easy to see the range as 740 - 952...which we are currently at the botomside of the 50% retracement...

But notice yet another descending triangle formation...

Let's blow this up and see what it looks like on a 2 yr....

NEXT..

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$SPX

2 year daily:

Botoming process.....or......resbit before additional downard move?

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ProphetCharts: $SPX

Here is a 10 yr monthly:

Pretty easy to see the trading range bottom as 740-ish and upward resistance being found at the 5 month MA or 917 ich by the way is still falling...

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$SPX

Okay, let's take a lokat the general picture wth the S&P. her's a long-term look......

Looks like support at the 794 50% retracement line.
It is somewat significant that the most recent highs of 2007 WERE higher than the highs of 1999-2000.

So, plainly if we break support here and say make lowere lows t is pretty easy to see 610. OUCH...

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MRK

And yes I'm shorting MRK because I loathe drug companies.....Serioulsy, you can look at a drug company's balance sheet and chart and think, "why is this stock not at least 50% higher". And then you realize it's because they are run by bone-head CEO's who squander profits on fruitless R&D or take cash reserves to buy an empty pipeline and more fruitless R&D. Sorry for the rant, but if yo are new to this heed this advice; Stay AWAY from drugs unless you are SHORT or into PUTS, that's right, "Just say no".......

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SNH

Senior assisted living real estate investment trust......

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POT

And Potash is the ag play best in breed. How else are they going to feed the people in China?

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MA

C'mon...it's best in breed creit card.....how easy is it to see gravitation back to the green line? Uhhh let's see that's $160 to $260-280.....

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JASO

Again sticking with the energy up first bottom-fishing scenario...

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GS

Best in Breed will survive....and thrive....

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CHD

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Wednesday, February 4, 2009

BRK.A

Another look at Buffet

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BRK.A

And for the dreamers in the crowd....

Even Warrren Buffet is getting kicked around tese days.....

Perhaps the more he appears on CNBC the more we should short his stock......

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