Principal Asset Development

Friday, July 16, 2010

Thursday, July 15, 2010

The US Dollar

Weekly chart from 2007:

Daily 6 month:

Strong dollar governmentaly policy? I think not.

S&P daily pivots looking to bounce to bearish

Consolidation of the white and purple lines appears to be the bounce point for this latest 9 day bull run. If this is the case it definitely gives favor to the Bears as a Lower high will be put in at the 1100 level. If the Bulls fail and the downtrend stays intact the next point of interest will be the latest lows of 1010.
Breakout of 1100 or breakdown to 1000 and then 950? Either way market coiled to move 100 points in less than 9 days.

Tuesday, July 13, 2010

MO - daily

Note the lack of volume on the run-up from 20. This is what makes the 21.53 level so important. The volume will come on a break above pushing to 22.80 or a failure to break accelerating the move back to 19.48 with pit stops at the averages 20.35.

MO - weekly

Weekly cup with handle breakout above 21.53 would mena short term target of 22.80. Failure to break above 21.53 means filure of HUGE 2.5 year pattern and eventual failure of 19.63 to hold. See next post on daily chart.

Dow

Monday, July 12, 2010

QQQQ

I believe the washing machine will be the trade of choice over the next six weeks. A lot of overhead resistance with very little volume behind the latest bullish move.

For the Web's best interactive charts, please visit http://www.Prophet.Net

Friday, July 9, 2010

$SPX

Be careful.

For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX

Wednesday, July 7, 2010

LOW - 20yr monthly

Talk about your mass exodus...Definitely shorting any move back over $20

RTH

Retail Holders ETF good candidate for Leap Calls

SHLD

Just plain ugly, but I cannot believe I've missed this short AGAIN. Set alerts, set alerts, & set alerts.

TGT

2nd best in breed Leap Call candidate

XLU

Long

Tuesday, July 6, 2010

MAN

Interesting how the top dog labor company is floundering. Patternwise an inverted H&S may be forming the bottom of the right sholder. Looking to get long with a stop at 39.90

Friday, July 2, 2010

$SPX 1yr daily

Why 950 S&P

Take note of the green vertical line in the green box which indicates an inverted H&S pattern. The target price from this pattern would be the height of this line which has been realized in the pink box. In other words the two veritcal green lines are exactly the same height.

A test of te breakout level is in order and should provide support for at least a short to mid term bounce. A break above the angled line in the pink box would nullify and be BULLISH to test and more than likely break above 1225 for the next leg to 1350.

A failure to hold 950 would mean a double dip to 666 and lower.

Wednesday, June 30, 2010

$SPX - Lower Low

Tuesday, June 29, 2010

MO - Fibonacci

MO

Friday, June 25, 2010

BP: Options for BP p.l.c. Common Stock - Yahoo! Finance

BP: Options for BP p.l.c. Common Stock - Yahoo! Finance: "Put OptionsExpire at close Friday, January 20, 2012

Strike Symbol                Bid    Ask
2.50 BP120121P00002500   .30    0.31
5.00 BP120121P00005000 .75   0.90