Principal Asset Development

Thursday, February 11, 2010

GLD

Scaling out of long and looking to enter short in stages:

107.35
108.10
108.35

The thinking is that the affliction to the 200 hour moving average is too much of a coincidence to the gap fill of 108.43. This sets up an excellent short trade with a stop above 108.50.

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GNK

Long for the long term hold with leaps
Stop - 17.94

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Wednesday, February 10, 2010

AZO

Short
Stop 161.35

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SIRI Bull Flag

Long
Stop $0.79

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$SPX - long term Fib Fan

Monthly chart with a Fibonacci fan line shows the downtrend and the importance of the current level. Take into consideration the monthly average and it's pretty easy to explain the markets oscilations of late and the increased volatility.

I see a short trade setup with a stop of 1105 or the monthly high.

A long setup using a small position size with the stop being just below the 200 SMA 1034. This is a bounce play and profits should be taken quickly.

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Tuesday, February 9, 2010

EUR/USD

All the talk on the Euro is the only thing proping the dollar up. It is not that America is stronger, but everyone else is getting weaker especially Europe. Somehow I find it comical that the US dollar will be viewed as a "safe" vehicle and I do not expect this sentiment to last. Look for precious metals to bounce and use your due dilligence on finding entry points on GLD and SLV on ascending trendlines.

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