Saturday, July 30, 2011

My best call of the year! NLY

If a tree falls in the forest and nobody is around to witness it, it goes unnoticed, so I think it's important to let folks know what they've been missing.

-Not the major top in Silver at the end of April, called the weekend before the crash, when I told my members I was selling all my silver coinage, and that they may consider pawning any sterling they weren't emotionally attached to. That was a good one! In my best Jeff Foxworthy voice, "if you are still holding Silver and praying that the good Lord will make it go back up again you might a bagholder". See you thought I'd say Redneck but I got nothing against Rednecks.

-Not the recent bottom in apple (within $10 of the $320 bottom). It's still having a nice run, but I see the top on AAPL. It's not here today, but I see it coming.

-It was June 21st when I called NLY the "perfect storm". I could see it was being pumped up and what was coming next, the dump. I have never made a call quite like this, except for last years flash crash.

This call was confirmed yesterday when NLY fell from 18.58 to 14.04 at the open.
And now that it's broken it's certainly on it's way to below $10, and will probably settle out around 5.85 next year. Don't short it again here, wait until it retests the failed lower trend line @ 17.25.

Check this out: NLY - Weekly Candlesticks:
NLY - Weekly Candlesticks: "




If members have any requests for individual stock charts; I'm currently am watching around 65 individual stocks, but I could easily handle another 35. Just drop me a line, with, "what do you think about [any stock]" in the title, and I'll consider adding it to our arsenal.

Note: I only call major reversals in individual stocks, providing obvious targets at the time... but I'm limited to only providing regular updates for the major indices, and select sectors. Sometimes the 2 overlap, for example I may chart JPM or BAC when trading financials, or XOM when charting the energy sector, but it's humanly impossible to chart hundreds of moving targets simultaneously.

I see several major targets approaching, and others that just hit Friday, and I will be putting these gems up on the members board before Mondays open! Don't miss the boat! Become an Elliott Wave Hound member today!

If buying stocks low, and selling high sounds like something you'd be interested in, then take advantage of my special 1/2 price offer today(see the previous blog for details).

Tuesday, July 12, 2011

Sector rotations, sideways action, and the $USD

The currency markets have the market freaked out, and the $USD nearly broke out yesterday, but as long as the $USD doesn't spiking above the upper $76 level again, there's no reason for panic. My $USD charts are for members only, so let's take a look at this sector rotation.

I'm sure I'm not the only technician who's been pulling his hair out, over the past few weeks, but once you realize everything is consolidating sideways in triangles, everything else falls into place.