October 25th, 2014
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Jubilant Traders Miss Another Ominous Sign

by Rick Ackerman on September 9, 2009 12:01 am GMT · 7 comments

Yesterday morning, an hour into the new trading week, we covered a small short position in the Diamonds, booking a loss of $92 on some September put options. This speculative bet, initiated on the closing bell Friday, was inspired by a hunch that if Mr. Market really wanted to catch investors with their pants down, the Tuesday after Labor Day would be a perfect time to do it. Alas, even with news that should have been helpful in catalyzing a stock-market plunge, stocks trudged higher. The news concerned consumer credit, and it could have left no doubt about the dire condition of  the American consumer. He in fact » Read the full article


TODAY'S ACTION for Wednesday

Hanging in the Balance

by Rick Ackerman on September 9, 2009 12:01 am GMT

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Rick's Picks for Wednesday
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ESU09 – E-Mini S&P (Last:1023.25)

by Rick Ackerman on September 9, 2009 12:01 am GMT

The 1053.00 target given here yesterday remains valid, but the bullish case for the near term was weakened by the fact that all of yesterday’s action took place below a 1027.75 peak recorded on the way down a week ago. Because the plunge from that peak would have trapped many bulls, we should regard it as daunting if not impermeable.  If the futures take a stab at it today, the effort should be considered ineffectual unless it exceeds the look-to-the-left peak  at 1031.00 recorded on August 30.

DXY – NYBOT Dollar Index (Last:77.28)

by Rick Ackerman on September 9, 2009 12:01 am GMT

Yesterday’s breakdown was serious, although I’d stipulated that DXY close for two consecutive days below 77.54 before we assume the worst. Tentatively, however, we’ll look for a quick drop to at least 76.05, or to 75.57, the Hidden Pivot given here originally, if any lower. My worst case number for the period preceeding the G-20 meeting in Pittsburgh at month’s end is 72.93. My hunch is that such pronounced weakness in the dollar is unlikely ahead of the meeting, but if it comes, stocks are going to fall too, and steeply.

SIZ09 – Comex December Silver (Last:16.690)

by Rick Ackerman on September 9, 2009 12:01 am GMT

Silver’s most recent peak at 16.860 fell 8 cents shy of a clear Hidden Pivot at 16.940, so we should assume the December contract has at least a little further to go before it hits something solid. Position traders should consider lightening up, with the goal of replacing on the pullback any shares sold near the target.  If the futures close above 16.940 for two consecutive days, or trade more than 10 cents above it intraday, that would be a very bullish sign going forward.

GCZ09 – Comex December Gold (Last:1001.10)

by Rick Ackerman on September 9, 2009 12:01 am GMT

Yesterday’s patently spurious plunge should look more like a swoon by Wednesday mid-morning, when I expect gold will have recovered. The sell-off was very obviously caused by the nasty bull trap that ran stops placed slightly above a 1008.80 high made shortly after 4 a.m.  In a bigger picture, the 1074.50 target given here earlier remains valid, although I should introduce another, lesser one at 1016.60 that looks capable of showing some stopping power.  The less stopping power it displays, the more quickly and powerfully the next thrust is likely to develop.

$DIA – Dow Industrials ETF (Last:166.43)

by Rick Ackerman on October 24, 2014 1:27 am GMT

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$AMZN – Amazon (Last:279.20)

by Rick Ackerman on October 24, 2014 12:30 am GMT

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$TLT – Lehman Bond ETF (Last:119.69)

by Rick Ackerman on October 23, 2014 2:51 am GMT

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$AAPL – Apple Computer (Last:104.99)

by Rick Ackerman on October 22, 2014 8:18 am GMT

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$JNK – High-Yield Bond ETF (Last:40.43)

by Rick Ackerman on October 21, 2014 9:42 am GMT

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$CLX14 – November Crude (Last:83.00)

by Rick Ackerman on October 17, 2014 1:15 am GMT

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$HGZ14 – December Copper (Last:3.0100)

by Rick Ackerman on October 6, 2014 9:30 am GMT

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$SNIPF – Snipp Interactive (Last:0.3400)

by Rick Ackerman on September 5, 2014 3:05 am GMT

I first touted Snipp Interactive back in January, when it was trading around 0.15. Although the stock subsequently fell to a dime, it has since rallied sharply, settling at 0.2562 yesterday. This is one of my favorite stocks, and I came away from a conference call with its CEO, Atul Sabharwal, eager to sing their praises. During that call, I hit Atul with my best idea, a sweepstakes-type promotion, but he was already three steps ahead of me, able to cite, for one, New York State’s rules and costs for exactly the type of marketing scheme I’d suggested.

Full disclosure: I hold 100,000 shares plus warrants to purchase another 50,000 shares.  But I hope that won’t discourage you from performing your own due diligence, since you are likely to be as impressed as I was when you find out what the company has been up to. For me, at least, Snipp (OTC: SNIPF) perfectly satisfies Peter Lynch’s rule that investors favor companies whose strengths and methods they can understand. Snipp does interactive marketing that allows clients to track results in real time. The results have been sufficiently impressive that the company has been attracting blue chip clients with little difficulty. Read more about SNIPP by clicking here.

From a technical standpoint, although the stock’s chart history is thin, it’s possible to project a near-term rally target of 0.2730. A tenet of Hidden Pivot analysis is that an easy move through such targeted resistance implies there is unspent buying power percolating beneath the surface. This is not a “hot tip;” indeed, Snipp’s story does not lend itself to the kind of hubris that will result in a $10 billion IPO. But it is an aggressive and imaginative pioneer in a rapidly developing niche, and its CEO has the kind of imagination, intelligence and energy that inspires confidence. _______ UPDATE (Sep 22, 8:30 p.m.): The stock has continued to rally, and the closest Hidden Pivot target is now 0.2668.  If that Hidden Pivot is exceeded on a closing basis for two days, however, a target at 0.3474 would be in play. _______ UPDATE (Sep 23):  Snipp has entered the Brazilian market via an exclusive marketing contract with Petrobas. Click here for the news release. ______ UPDATE (Sep 23, 1:57 p.m. EDT):  The stock has gone bonkers today, up six cents to within less than a penny of the 0.3474 target projected two days ago. _______ UPDATE (October 12, 9:20 p.m.): The stock has come down hard after peaking three weeks ago at 0.34, but I view the move as a corrective opportunity to accumulate more shares.


SIDE BETS for Wednesday

UNG – U.S. Natural Gas Fund (Last: 10.28)

by Rick Ackerman on September 9, 2009 12:43 am GMT

A minor Hidden Pivot resistance at 10.57 is the nearest impediment, but if UNG gets past it and a peak at 10.75 made in late August on the way down, it would be clearing the path for yet more upside. The implications will not affect the daily chart, however, until 16.27 is touched.


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