March 12th, 2010
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COMMENTARY for Wednesday

R.I.P., California

by Rick Ackerman on May 20, 2009 1:04 am GMT · 9 comments

As California goes, so goes the nation?  Let’s hope not, since voters looked all but certain on Tuesday to force the deepest spending cuts since statehood was achieved in 1850. We have no qualms endorsing spending cuts over tax increases, but in this case the cuts will be so severe that it’s possible only basic services will survive. A certain casualty will be the state’s once-vaunted higher education system, which looks set to take a $2.3 billion hit on top $3 billion in reductions already baked in the cake. At the grade-school level, 27,000 » Read the full article

TODAY'S ACTION for Wednesday

Second Wind for Short Squeeze?

by Rick Ackerman on May 20, 2009 4:14 am GMT

Tuesday night’s action was tired but bullish, since minor correction targets were not getting hit. There’s one such target in the E-Mini S&Ps that could help night owls chase boredom, but we’ll have wait for the opening bell to find out whether Monday’s short squeeze is about to get second wind.


Rick's Picks for Wednesday
$ = Actionable Advice + = Open Position
Current  Actionable  Open
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ESM09 – E-Mini S&P (Last:903.50)

by Rick Ackerman on May 20, 2009 3:33 am GMT

The futures were struggling to go lower shortly after 11 p.m. Tuesday -- much as they did Sunday night, telegraphing Monday's rally. The nearest Hidden Pivot support is _____ , a midpoint whose 'd' sibling lies at 893.75, but both numbers were getting shunned -- a development that hinted of ...

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GCM09 – Comex June Gold (Last:926.70)

by Rick Ackerman on May 20, 2009 3:50 am GMT

We'll breathe easier when the futures finally push above 935.80, but the significance of the move won't be as bullish as before, since the rally has been interrupted by a so far three-day correction from the recent high at 934.80. I hesitate to read too much into it, but ...

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AKAM – Akamai Technologies (Last:21.56)

by Rick Ackerman on May 20, 2009 4:08 am GMT

A Motley Fool e-mail promotion that I received yesterday piqued my interest in this former "cloud" computing hottie, which they rate as the best investment opportunity since Microsoft's first stock-split. Coincidentally, AKAM's recent high at 23.58 created a "camouflaged" impulse leg that looks ...

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