March 15th, 2010
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COMMENTARY for Friday

FAZ Shares Offer Carny Game Odds

by Rick Ackerman on May 22, 2009 12:01 am GMT · 5 comments

We scratched a bearish position in the financial stocks yesterday, exiting some options we’d purchased in a vehicle that leverages the downside in the Russell Financial 1000. There were a few reasons why we decided to bail out for a slight profit, even though we’d held the position for just a couple of days. For one, the trading vehicle itself – the Financial Bear 3x, or FAZ, as it is known –  appears to be an unbeatable game, at least for the retail customer.  Before this week, we had never offered a trading recommendation in FAZ even though it seemed to be popular among regulars in  » Read the full article

TODAY'S ACTION for Friday

Dollar Looks Set to Bottom

by Rick Ackerman on May 22, 2009 12:01 am GMT

I’ve drum-rolled a Hidden Pivot target in the Dollar Index (DXY) today, since the turn from this number or somewhere near it could affect quite a few other markets in the coming weeks or even months.


Rick's Picks for Friday
$ = Actionable Advice + = Open Position
Current  Actionable  Open
All Picks By Issue:

GCM09 – Comex June Gold (Last:954.30)

by Rick Ackerman on May 22, 2009 12:01 am GMT

____ should be used as a minimum upside objective for the near term. This is the Hidden Pivot (HP) midpoint of the pattern begin from 805.20 on January 15. The 180m chart offers a nice panoramic view of the pattern. If you work the numbers you'll find that the 'D' target associated...

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DXY – NYBOT Dollar Index (Last:80.50)

by Rick Ackerman on May 22, 2009 12:01 am GMT

I've been bearish on the dollar for a while, but with expectation of a potentially important low near 80. The exact number shown on the chart is _____, and I don't see how this projection can miss....

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GS – Goldman Sachs (Last:137.04)

by Rick Ackerman on May 22, 2009 12:01 am GMT

A close above ____ would shorten the odds of a finishing stroke to at least _____. Both numbers -- respectively, a Hidden Pivot midpoint pivot and a 'D' rally target -- occur in the pattern shown in the accompanying chart. Ordinarily I would suggest laying in some calendar spreads at the 150 strike to play this move, but the spreads are quite pricey and ...

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