March 13th, 2010
Published Daily
COMMENTARY for Wednesday

Street Celebrates More Bad News

by Rick Ackerman on May 27, 2009 12:26 am GMT · 8 comments

The stock market further distanced itself from reality yesterday as the Dow Average tacked on another 200 points to its nearly 2,000-point gain since early March. It’s hard to say what caused this latest outburst of irrational exuberance. It may have been the news that North Korea had thumbed its nose at the world by testing A-bombs underground. That story dominated the headlines over the holiday weekend and was said to have been the cause of global “concerns.” Lately, though, such concerns have been the bread and butter of Wall Street pros who go bargain-hunting every time stocks sell off. For them, it’s not a case of » Read the full article


TODAY'S ACTION for Wednesday

Goldman Throbbing With Menace

by Rick Ackerman on May 27, 2009 3:32 am GMT

If Goldman breaks above a midpoint Hidden Pivot at 142.32 identified in today’s tout, the stock is likely to be unstoppable until it reaches a minimum 150.72. Skeptics should keep these numbers well in mind if an urge to short into the rally should threaten to compromise your discipline.


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

ESM09 – E-Mini S&P (last: 906.25)

by Rick Ackerman on May 27, 2009 12:50 am GMT

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GCM09 – Comex June Gold (Last:950.90)

by Rick Ackerman on May 27, 2009 1:01 am GMT

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GS – Goldman Sachs (last: 142.00)

by Rick Ackerman on May 27, 2009 1:17 am GMT

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HUI – Gold Bugs Index (Last:376.32)

by Rick Ackerman on May 27, 2009 2:59 am GMT

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