January 27th, 2012
Published Daily

From the monthly archives:

June 2009

ESU09 – E-Mini S&P (Last:889.50)

by Rick Ackerman on June 23, 2009 1:08 am GMT

The 879.75 downside target given here yesterday is still valid, although I prefer the lower Hidden Pivot at 869.50 given in today’s commentary as as place to try bottom-fishing. An 868.75 stop-loss is suggested. Alternatively, the futures would need to pop to 898.25 to turn the lesser charts bullish.

A few more days like yesterday, and bears could be pardoned for feeling a little cocky.  By simply keeping their cool Sunday night, they left DaBoyz with precious little buying power when stocks began to trade Monday morning. The result was a 200-point decline to start the week. That’s even worse than last Monday’s step-step-stumble out of the gate, which primed the Dow Industrials for a 187-point decline that day. The mood on Wall Street has definitely changed, and nowhere is this more evident than in the failure of the world-class » Read the full article

DaBoyz Fail to Fool

by Rick Ackerman on June 22, 2009 7:03 am GMT

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RIMM (Last: 72.76)

by Rick Ackerman on June 22, 2009 6:52 am GMT

RIMM’s sharp decline from just above 86 looks like it could go all the way to 69.13 before the stock finds traction.

MSFT – Microsoft (Last:24.07)

by Rick Ackerman on June 22, 2009 6:48 am GMT

Save some ammo, since Microcrap looks like it will be a good short if it makes it up to 25.34 a Hidden Pivot.  We have a small, losing put position from way back when, but re-shorting the stock at the target looks like a promising way to recoup the loss.

GOOG – Google (Last:420.05)

by Rick Ackerman on June 22, 2009 6:44 am GMT

A move above Friday’s 420.46 high would be bullish for the near term, since that number fell within 0.15 of a Hidden Pivot rally target visible on the intraday charts.

USU09 – T-Bond Futures (Last:116^11)

by Rick Ackerman on June 22, 2009 6:39 am GMT

Friday’s failure to push above a small peak at 115^03 recorded on the  way down a day earlier suggests weakness over the near term, although a pop today exceeding 115^20 would turn the minor trend back to bullish.  Short 114^14.5 with a very tight stop-loss if the opportunity arises.  Correction:  Sorry for the untradable misprint, for it was a short at 115^14.5 that I’d intended.

CLQ09 – August Crude (Last:70.02)

by Rick Ackerman on June 22, 2009 6:34 am GMT

A dip to 68.65 today, or tomorrow at the latest, should be viewed as a bottom-fishing opportunity.

Silver looks quite vulnerable, having recently created a bearish impulse leg of daily-chart degree. A fall into the high $12s is indicated for the near term, although a bounce from conventional support near 13.630 could slow or even reverse the decline.

All signs point moderately lower over the near-term, but there are too many Hidden Pivot supports to choose from to make for compelling bottom-fishing opportunities. If forced to choose the most attractive of the lot, I’d say 911.30. We’ll make that our minimum downside objective for now, subject to negation by a rally today exceeding 945.00. That would be the most promising sign we’ve seen on the hourly chart in more than two weeks.