Principal Asset Development

Friday, September 4, 2009

TOL

How bout Long Toll Bros. with a stop below yesterday's open of 21.49 on a breakout of the long term triangle. A loose stop for a long term trade below the fib line of 20.90.

XHB

Maybe nibbling on some housing stocks with a possible bull flag on the XHB. Getting out if drops below the 14.25 mark.

Don't be a chaser if you've missed the move. Looking for Gold to hit some major resistance and consolodate the hyped move to 1000. Set your short orders for the other side of the $1000 landmark landmine and wait for the pullback to the fan line to take profits. Set your stop above 101.

Thursday, September 3, 2009

SPY

Which way will it break?

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DOW 30

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Wednesday, September 2, 2009

BAC

Hope you took the Bank of America short on the trend break, but it's time to cover for now. Reload the short above 18.10 for a harder fall.

Tuesday, September 1, 2009

IWM

Banks got the biggest hit and are at the bottom of the upward channel.

Monday, August 31, 2009

DIA - 20 day 30 min

Hmmm, a break of 95.23 sma and then a fib line at 95.44 and a LOT of consolodation at 94.51......

With everyone looking for a pullback be wary of a blowoff top. Meaning - speculate long and wait for the confirmation things are REALLY rolling over. The sky is not falling YET chicken-little, but it is coming soon.

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$SPX

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Saturday, August 29, 2009

MO - Breakout trade

I posted some longer term charts on Altria last night and thought I'd lay a basic long trade out for any newbies. I'm seeing last weeks trades as the formation of a Bull flag consoldation for a move to the next fibonacci line at 19.50.

A stop should be placed just below last weeks low of 18.01 giving a bit of room for pick-off plays by the big boys - say 17.91 or so.

Altria just INCREASED the dividend and the yield is now 7.5% on a very stable cash cow company.

$INDU

MO 2yr daily

MO - 5yr weekly

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MO

Impressive....

GLD

Friday, August 28, 2009

GMR-Update

Bottom fishing and caught a gap up.....Posted early last week at $7.36

Wednesday, August 26, 2009

XHB

Tuesday, August 25, 2009

BAC

Getting short Bank of America on break of trend.

Monday, August 24, 2009

AMZN fans on a weekly

Fans still working on Amazon.

GLD

Gold is banging up against the underside of a 50% Fibonacci Fan line and could be a possible short trade with a tight stop at 93.07 or a moderate stop above last weeks high of 93.80 or loosely above the fan line at 94.25.

It is probably likely that GLD could trade higher along this line into October and top out at 95.70 providing a better shorting opportunity as the top of the channel will create additional resistance.

My bias is on the short side as the dollar is rounding the bottom out and could rise putting pressure on crude and commodoties such as gold. However, be aware that this could take a few months to materize and pick up momemtum.

Sunday, August 23, 2009

XLF

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S&P MONTHLY

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S&P WEEKLY

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S&P 500

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Saturday, August 22, 2009

Bottom fish - GMR

Stop 6.95

MO

Thursday, August 20, 2009

S&P 500 monthly

Pretty easy to see the resistance points at 1015. Short with a stop just above 1015 and a buy stop to get long at 1016.

Crude update

Long term monthly chart of crude shows how important the $75 level is as the 200 month Simple Moving Average is $74.70. A break above this level could send crude on a trek back to triple digits going into the winter months. This is definitely a market sentiment indicator to watch closely.

Wednesday, August 19, 2009

XLF

Two ways to play the XLF on a breakout or failure of the channel line.

Breakout: Use a Buy stop above today's high of $14 to catch a possible breakout of the channel. Today's low 13.67 or the 20 sma - 13.50 as possible stops.

Breakdown: Go ahead and buy the Puts with a tight stop above $14.10 and a loose above 14.35.

No doubt the XLF is gonna make a move and a pick up in voulme will tell the tale as to which way to let ride as the other trade is stopped out.

DOW 30

Looks like a short to me with a stop above 9314. Sorta looks like a H&S pattern, huh?

Tuesday, August 18, 2009

Inverted S&P 500

Saturday, August 15, 2009

FSLR to high 120's

XLU - Utilities

Clawing its way back and finding resistance at fibonacci $29.56. Break through or break down? With energy appearing to rollover and crude breaking below $70 the bias is lower. Short with a loose stop above the fib line and tight stop above last week's high of $29.34.