Wednesday, September 2, 2009

Sept. 2, 2009 Tutorial: Hindsight Never Fails

– Posted in: Tutorials

Gold was screaming, the E-Minis were on the move, and although "camouflage" opportunities in each had come and gone, we examined their respective intraday charts closely to see whether there might have been an easy way in. We found that bullion's takeoff had been too abrupt to board, and in the E-Mini, although there had […] Read More

Against the Grain…

– Posted in: Rick's Picks, Thought for Today

My analysis for gold, financial shares and the dollar go against the grain today, so I could wind up looking like either a hero or a fool an hour into the session.  My gut feeling is that the bank stocks will continue higher as long as they are able to operate effectively without rules or constraints […] Read More

DXY – NYBOT Dollar Index (Last:78.80)

– Posted in: Current Touts, Free, Rick's Picks

The rally looked altogether unimpressive until late in the session, when a fleeting spike surpassed a look-to-the-left peak at 78.91 that I'd flagged in the chat room. That gives the rally nominal appeal on the lesser charts, although we should require _____ today to validate it. The location of the obscure but important peak-let this would surpass is shown in the accompanying chart.

SIU09 – Comex December Silver (Last:14.970)

– Posted in: Current Touts, Free, Rick's Picks

Silver effected a promising spike yesterday afternoon, but the futures were struggling to hold onto the gain early in the evening.  If they go no lower than ____ overnight, however, any rally exceeding the relevant midpoint resistance at _____ would suggest additional upside potential over the near term to as high as _____.

ESU09 – September E-Mini S&P (Last: 996.00)

– Posted in: Free, Side Bets

Below 999.75, there were no more Hidden Pivot targets to project yesterday using the hourly chart. That is still the case, although we can use the breach of a look-to-the-left peak at 1009.50 to signal us when ES is turning around […] Read More

GS – Goldman Sachs (Last:162.03)

– Posted in: Current Touts, Free, Rick's Picks

Yesterday's savaging did no damage whatsoever to the bullishness of the daily chart, although there is still room to fall on the lesser intraday charts. Specifically, a Hidden Pivot target at 158.90 looks like a good place to try bottom-fishing. Officially we'll bid 158.93 for 200 shares, stop 158.79.  We continue to hold the Jan 130 - Oct 130 put spread four times for 3.40 and a September 170 call for 2.00. _______ UPDATE: The bottom-fishing gambit worked out nicely, since the stock rallied $1.08 after making a low at 158.90 around midway into the session. You would have needed to apply a trailing stop, though, since Goldman subsequently relapsed to 158.14 before the closing bell.

GCZ09 – Comex December Gold (Last:955.00)

– Posted in: Current Touts, Free, Rick's Picks

The futures spent the day struggling to go lower, failing in the end to overpower a midpoint support at 947.60 whose breach would have greased the skids down to 938.70. The bearish pattern is shown in the accompanying chart, and as you can see, the pre-dawn bounce came from a low that lay within a single tick of the pattern's calculated midpoint. The reactive rally was no world-beater, to be sure, but on balance the picture is at least mildly bullish for the near term.  A _____ rally target given here earlier remains viable, but like you I am growing a bit impatient about it.

Bank Scare a Ruse to Shake the Tree

– Posted in: Commentary for the Week of March 8, Free

A run on a major U.S. bank?  Who could have been spreading such scurrilous rumors? They surfaced yesterday in the Rick's Picks chat room, and elsewhere, not long after we'd done some personal banking ourselves in an online account at the very same bank. We experienced no delays or problems with the transaction, notwithstanding reports […] Read More


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The laser-like accuracy of Rick Ackerman’s forecasts are well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.

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