Thursday, August 27, 2009
Here we go again, flip flop, + Mr Nasty & Cpt NAMO got something to say
Here we are again, Mr. Nasty and Cpt Namo scaring the horses with their silly behaviors. Watch CPT Namo give us a head fake, Mr. Nasty throw us a head fake, and the top will extend itself yet farther. While old projections show a top for this move, in past reviews at about 10,500 on the DJIA, current new projections show a potential about 1K higher, but they are merely projections, not assurances. I think the white space I showed on the chart of the WLSH on the previous post accurately pictures the time frame where this could take place.
As an added note, we upgraded the format of PEAK PERFORMANCE PICKS to make it more readable and added the section "WHAT YOU NEED TO KNOW ABOUT GOLD NOW".
Also for reader interest we posted a link to the 8/14 Portfolio on the website.
PEAK PERFORMANCE PICKS major winner for last week was ENTREE GOLD, with major holdings in Mongolia, that surged from the 1.30-1.40 range to a high of 2.48 this week, basically a 100% gain in 5 days, due to the repeal of the "windfall profits tax" on mining entities in Mongolia. While this is a difficult stock to get in due thin number of shares out, it was possible to get an entry below 1.40. Good luck to those who got aboard.
I expect the market to continue to broadening its top, until we have everyone partying so hard they forget they are dancing on the edge of a cliff, and we can watch the bulls jump off a cliff of euphoria. Have fun, Party hard, and mind your limits and keep your stops tight and disciplined.