Using Goldman has kept us on the right side of the market for some time, so I’ve taken pains in today’s touts to show why the stock — and therefore the broad averages — is almost certainly headed higher. There are three targets in the $140s, and if the highest of them is reached it would imply a rally of about 11 percent from yesterday’s settlement price of 134.16.
COMMENTARY for Tuesday
TODAY'S ACTION for Tuesday
Rick's Picks for Tuesday
Gold did what we asked of it yesterday, but can it keep the streak going for a second day? We should expect no less if it's about to take off, so let's use a Hidden Pivot resistance at _____ as our minimum upside objective. That would complete the pattern shown in the accompanying chart,...
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The _____ target kept us properly bullish through thick and thin, but our focus should now shift higher, to a minimum _____, now that the first number has been turned into suet. This target is a fresh one and unadvertised, so by all means short it with a stop-loss as tight as three ticks if it's hit today. The target is shown in the accompanying chart, and ...
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There are three rally targets worth considering right now, all of them between ___ and ___. The lowermost, _____, should be used as minimum objective for now; however, if it's surpassed we should infer that the second, a Hidden Pivot at ____ broached here earlier, is likely to be achieved. And if that number ...
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June Crude's easy move above a midpoint resistance at 51.80 suggests _____ is likely over the near term. Bulls can get there any way that suits them, but a "dynamic" trailing stop is suggested as the futures approach...
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Gold and Silver Gathering Strength
by Rick Ackerman on May 5, 2009 12:01 am GMT · 3 comments
The sharp rally in gold and silver was over in less than ten minutes yesterday, giving way to a “flag” correction that was lazily continuing to unfurl almost half a day later. This is a modestly encouraging sign, since we’d gotten used to seeing bullion’s rallies evaporate like gushers of steam from a geyser. The Comex June Gold contract exceeded every minor benchmark we’d set for it, so our bias will be bullish for a change as Monday’s night session evolves. We say “bullish for a change” because we’ve been making bulls prove their case » Read the full article