April 18th, 2014
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Two Exploration Stocks to Consider

by Rick Ackerman on September 21, 2009 12:01 am GMT · 8 comments

[We often feature the work of our friend and colleague Chuck Cohen, a NYC-based investment consultant who specializes in mining companies. Below, he explains why it is time for those who have been straddling the fence to buy junior gold shares.  He concludes with two specific recommendations that trade over-the-counter for less than $1.]

Rick has asked me to write about gold with a focus on the junior mining companies, so here we go, along with a couple of specific recommendations. I tried to point out the pros and cons of buying the juniors last month, but let me now make a quick refresher. I also suggest that you go back to Rick’s August archives to review my articles on gold and the junior sector.

Advantages of juniors…

– They have been beaten down in price due to the credit squeeze last year. » Read the full article


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ESZ09 – E-Mini S&P (Last:1061.00)

by Rick Ackerman on September 21, 2009 12:01 am GMT

The futures have spent two days in what looks to be a tortuous consolidation, but they don’t look ready yet for another surge higher. If and when they resume their suicidal climb, there are no targets above that look like bet-the-farm shorts.  However, the two that I find most compelling, both from the weekly chart, are 1140.00 and 1159.50.  Pivoteers will notice that that the summer selloff was not sufficient to give us a legitimate B-C pullback, since it did not equal the required 0.618 of k-A.

GDX – Gold Miners ETF (Last:45.92)

by Rick Ackerman on September 21, 2009 12:01 am GMT

I posted some targets for this vehicle in the chat room the other day but missed one that could have immediate relevance: 48.53.  Notice in the  weekly chart how last week’s high fell just 13 cents shy of the target.  That’s close enough, and the target has been long enough in coming, that we should be prepared for a significant pullback — one lasting perhaps 2 to 3 weeks. If the pullback turns out to be small stuff, however, and GDX pushes above 48.53, we would infer it’s headed for at least 52.14, the ‘D’ target that results when you slide down to the one-off low at 17.59 recorded last November.

GCZ09 – Comex December Gold (Last:1010.30)

by Rick Ackerman on September 21, 2009 12:01 am GMT

Just a few more baby steps and the futures will succeed at something that has haunted the long-term picture since February. At that time, a sharp, four-month rally narrowly failed to get past a key peak at 1028.00 recorded seven months earlier. If the current thrust tops 1028.00, it will create a quite powerful bullish impulse leg on the weekly chart. And incidentally, if the rally fails to get past gold’s all-time recovery high at 1060.00 (basis the Comex December contract), it could conceivably create a camouflaged entry opportunity on the weekly chart.  That would be rare indeed.

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$ESM14 – June E-Mini S&P (Last:1850.50)

by Rick Ackerman on April 17, 2014 7:52 am GMT

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$USM14 – June T-Bond (Last:134^06)

by Rick Ackerman on April 2, 2014 3:21 am GMT

We don’t pay much attention to this vehicle other than at key turning points, but the short-term pattern shown looks like a lay-up for traders who see futures contracts as no more than bouncing dots on a chart, waiting to be exploited. There are actually two trade possibilities here: 1) a ‘camouflage’ short as USM slips below the 132^13 midpoint; 2) and a very tightly stopped long from within a tick or two of the 131^17 target. Good luck!  Please report any fills in the chat room so that I can establish a tracking position for your further guidance. ______ UPDATE (3:17 p.m. ET): The short was tricky to initiate, but once aboard, your reward came quickly with a drop to a so-far low at  131^26. As noted above, the short should be covered and reversed near 131^17. ______ UPDATE (April 6, 3:57 p.m.): The low of Friday’s violent price swings was 131^21 — not quite close enough to have gotten you long easily. Although this could prove to be an important low for the short- to intermediate term, under the circumstances I’ll assume no subscribers were filled. _______ UPDATE (April 11, 1:03 a.m.): Next important stop on the way higher: 135^17.

HGK14 – May Copper (Last:2.9820)

by Rick Ackerman on March 31, 2014 12:20 am GMT

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SIDE BETS for Monday

SIZ09 – December Silver (Last: 17.025)

by Rick Ackerman on September 21, 2009 12:01 am GMT

There are no clear targets for the correction begun from 17.690 on Thursday, so a Hidden Pivot support at 16.810 will have to suffice. A bullish reversal on the hourly chart would be signaled at 17.405.


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