This song doesn't have too much going on lyrically; it's a mellow number about getting away from it all and taking a breather, whether on an actual sea or a figurative one. Perhaps "wait[ing] for the sound of [her] gypsy" is waiting for her to come back to herself once she's alone, or even waiting for inspiration to strike, using the term "gypsy" to signify her muse, and the morning coming when she can truly think about her ideas and develop a new one.
On the other hand, I read somewhere this is part of her Goldfish and Ladybug saga. In that context, the ladybug is literally sitting around by the blue water waiting for her true love Mr. Goldfish to show up, and he's the gypsy. That's not quite as interesting to me but hey, it was going to be a kid's cartoon, so one can't expect too much. Regardless, the melody is quite soothing.
Side note: This recording features Lady Antebellum on backing vocals.
This song is beautiful to me. I understand it cause it reminds me of something I've been feeling for a while. Like loving someone & they don't love you back or love you the way you love them. But inspite of this knowledge, you can't give up your love for them. I sit & I wait for the morning to come - (the day my love comes to me) - blue water.
GODDESS OF NYMPHS speculates:
In my course of reading and learning as much as I possibly can about Stevie, I have read that after her friend Robin passed away she rented a house on the beach and wrote and had stated (and I quote this loosely) "I went to the beach and wrote and just had to give "her" (Robin). I feel she is possibly refering to Robin when she says " And I sit and I wait for the sound of my gypsy." I also think that she references the ocean as "Blue Water" because it was very spiritual and healing for her at time she felt very alone....
This is a very simple song to decode. Stevie's favorite place to be is on a boat "Not I ever get on a boat" quoted from an interview that came from the bonus CD of The Dance. The sea she remarks is not unlike the desert where she is from. Stevie equally loves the desert and the sea or water for that matter. The song is her returning to the real Stevie. Recall that when she found that Robin was terminally ill, she took a trip with her and Sharon on a boat; there are photos of this trip posted on the web. So my interpretation, is that Stevie, returning yearning to the REAL Stevie... back to herself, before the fame and fortune.
24 Karat Gold | SN Albums