September 3rd, 2010
Published Daily
COMMENTARY for Friday

A Murderer’s Row of Hard-Asset Advocates

by Rick Ackerman on May 15, 2009 12:01 am GMT · 12 comments

I’m in New York once again for the annual spring meeting of the CMRE, the Committee for Monetary Reform and Education. This group attracts men and women from the investment community who share your editor’s disdain for fiat money and other falsehoods promoted by Big Government. Here’s the line-up of speakers at tonight’s dinner, along with program notes on each:

 

James Grant, publisher of Grant’s Interest Rate Observer.. On the record for the importance of The Gold Standard, Grant suggests Mr. Bernanke be asked to explain how the central-banking » Read the full article


TODAY'S ACTION for Friday

Brain-Dead

by Rick Ackerman on May 15, 2009 5:19 am GMT

 Member-only content. Please Login or get a free trial of Rick's Picks to view.


Rick's Picks for Friday
$ = Actionable Advice + = Open Position
Hidden Pivot Calculator   Education Page
All Picks By Issue:

ESM09 – E-Mini S&P (Last:890.25)

by Rick Ackerman on May 15, 2009 4:32 am GMT

Shortly after midnight, there weren’t enough clues to try and second-guess Friday madness –only a minor downtrend with a flimsy-looking target at 886.00. Because it is derived from a pattern with a “sausage B,” I wouldn’t suggest that night owls go too far out on a limb to bottom-fish there.  A slightly bigger picture with a bullish bias has a rally target at 906.50, provided its sibling midpoint, 897.50, can be brushed aside.  Both numbers will remain valid as long as 888.50 is not exceeded to the downside first.

GCM09 – Comex June Gold (Last:927.00)

by Rick Ackerman on May 15, 2009 4:43 am GMT

It would be hard to say whether the tepid rally of the last three weeks has been more aggravating for bulls or bears, but the former should continue to use 935.90 as a go-ahead signal, since that’s what it would take to turn the daily chart decisively bullish.  The most immediate Hidden Pivot target, 936.60, would do the trick, but if the futures fall back for one last consolidation, look to buy around 921.50 with a tight stop-loss, since that’s the midpoint pivot associated with the target.

June Crude (last: 58.75)

by Rick Ackerman on May 15, 2009 5:06 am GMT

onde-target-downThe 61.97 target flagged here earlier remains valid, but please note that the futures are pulling back from within 3o cents of a lesser rally target at 59.77 that was reached earlier in the week. The high has the potential to end Crude’s winning streak, but if  it’s surpassed on a closing basis, consider a finishing stroke to 61.97 a done deal.

DIA – Diamonds (Last:83.32)

by Rick Ackerman on May 15, 2009 5:15 am GMT

The September 84-May 84 call spread that we are long could have been exited yesterday for as much as 4.60, yielding a theoretical gain of  $310, since our adjusted cost basis on the four spreads was 3.82.  (That includes a loss of about $150 on a September 76 that we also held.) If you still hold a partial position, exit at will today — presumably at a profit, since May time premium will be melting away to zero with each tick of the clock.

$+SLW – Silver Wheaton (Last:22.06)

by Rick Ackerman on August 27, 2010 9:07 am GMT

 Member-only content. Please Login or get a free trial of Rick's Picks to view.


Hidden Pivot Webinar & Tutorials
The next Hidden Pivot Webinar will be held on 6/30 - 7/1. This two-day event is designed to teach you the risk-averse trading strategies Rick has taken to his seminars around the world. Once you have learned his proprietary secrets, you will approach trading and investing with enough confidence to make your own decisions without having to rely on the advice of others. For more information, or to register, click here.