Another Day Another Week

 It's been years since my last post. I had completely forgotten about this blogspot until I stumbled upon it this evening. My day consisted of freeing and feeding the chickens, eating breakfast, taking a 2 mile Genoa walk with Anna, some yard work, and some office work. Pleasant and warm day. 

100% in cash and awaiting the final gold and silver bull market bubble entry around end of September and the next Intermediate Cycle Low. I'm expecting gold to bottom in the last consolidation area around 1750. It seems to be nearing a top now near 2100. The bubble phase should last about a year and a half and I expect gold to reach at least $7,000.

I'll now go and secure the chickens for the night. It's around 9 pm and past my bedtime. Goodnight journal.

Six Mile Hike

Lake Tahoe was, as usual, beautiful this weekend. Decided to hike a part of the Tahoe Rim Trail from Highway 50, Spooner Summit,  south to Genoa Peak Road and back. We ran into quite a few people, about a dozen, and had a few short conversations. All the people appeared happy. A man sitting on a log claimed it was his sixth attempt to hike the full distance between Kingsbury and Spooner Summit, roughly 12 miles, and that he was finally going to succeed. He revealed his age as 72 and we enjoyed his casual conversation. The good thing about hiking is that it's less likely you will run into unhappy people. Unhappy people don't seem to hike for the most part.

We watched Rise of the Planet of the Apes after our hike and enjoyed it. The scariest damn dirty apes I've seen in any of these planet of the apes movies. Of course none could ever equal the original with Charlton Heston.

Today was uneventful in the markets. Gold up slightly on the weaker dollar, stocks climbing toward the 200 DMA, dollar broke below trendline and heading lower as the daily cycle is now left translated. Lower lows and lower highs.

We gave up TV (idiot box) via Dish Network on Friday. Have watched TV less and less over the last 2 years and now only occasionally catch some Bloomberg Financial (noise) and House Hunters (boring). Anything interesting, to me, is available on the web and so the TV will be increasingly rarely watched.

Also quit the land line phone Friday after hooking up the new Magic Jack. That and the cell phone is plenty for communications. Also was able to ditch my long distance carrier, IDT, along with the land phone. Dish, ATT, IDT savings add up to over $70. Not bad savings. Next job will be to go with Go Phone and eliminate the $63/month cell plan.

I have some political and philosophical commentary but will save it for another time.

Big Waves

STOCKS

Now that this cyclical bull in equities is finished we should expect a violent bear rally out of these lows. I went ahead and bought QLD Friday after the daily swing low in QQQ and will be adding another slug after we get a weekly swing low. I expect to exit around the 200 DMA.


GOLD

Gold had a terrific parabolic run and I expect it to drop back below $1,500 within 6 weeks. If the miners climb along with stocks and the dollar begins a fall toward a three year cycle low then I will consider getting back on the gold bull for what should be a very profitable run to $2,000.


DOLLAR

The dollar can't make up its mind yet so I will keep an eye out for any clear trend. I still expect, hope is a better word, that the dollars three year cycle low is still ahead. If not I fear gold will be entering a D wave.