Neither bulls nor bears seems particularly inspired at the moment, although the edge still goes to the latter and to the downside target given here previously: 970.80. A descent to that Hidden Pivot would become an odds-on bet if its midpoint sibling at 985.60 is exceeded on a closing basis. Alternatively, the futures would need to touch 1000.10 on a rally Monday night or Tuesday to turn the minor trend bullish. A more important midpoint resistance would come into play thereupon, and with its breach a potential run-up to 1028.10.
COMMENTARY for Tuesday
Rick's Picks for Tuesday
Member-only content. Please Login or get a free trial of Rick's Picks to view.
Member-only content. Please Login or get a free trial of Rick's Picks to view.
Tesla got short-squeezed to within 28 cents of the 86.72 target I’d proffered early Monday morning, but a second-wind rally to 88.00 suggests it’s got eyes for 104.44, the ‘D’ target associated with the first number. It can serve as a minimum upside objective for now, implying that all trades between here and there be positioned from the long side. We’ll plan on buying weekly puts if and when the target is reached, provided it happens before Wednesday of the given week. Please note as well that a lesser Hidden Pivot at 94.19 (see inset) has the potential to stop the rally cold and can therefore be used for spec camouflage shorts.
All signs point higher at the moment, but even Google will have to top somewhere. My best-bet for a short-able apex is 929.78, the Hidden Pivot target of a well-defined ABCD on the monthly chart (see inset). You can try shorting with camouflage at that number, or at the D target (in purple) of the lesser pattern, but until then all trades should incorporate a bullish bias.
Member-only content. Please Login or get a free trial of Rick's Picks to view.
Member-only content. Please Login or get a free trial of Rick's Picks to view.
Member-only content. Please Login or get a free trial of Rick's Picks to view.
This Just In... for Tuesday
Frank Shostak is one of our favorite economists because he talks plain-sense. In a recent essay he wrote for Mises Institute, he explained why the government’s huge stimulus efforts have failed to stimulate much of anything. To make matters worse, says Shostak, if the feds continue down this path, seeding the banks with yet more money from nowhere, it will effectively destroy the real-savings base that is absolutely crucial to any recovery. Click here to read his essay.
Hidden Pivot Webinar & Tutorials
The next Hidden Pivot Webinar will be held this June 5th - 6th. This two-day event is designed to teach you the risk-averse trading strategies Rick has taken to his seminars around the world. Once you have learned his proprietary secrets, you will approach trading and investing with enough confidence to make your own decisions without having to rely on the advice of others. For more information, or to register, click here.
Zazi Breathes Life into War on Terror
by Rick Ackerman on September 29, 2009 12:01 am GMT · 16 comments
Americans owe a debt of thanks to Najibullah Zazi, since he has made it far more difficult for Islamic terrorists operating in the U.S. to buy the supplies they would need to make conventional bombs. Acquiring nail-polish remover and hydrogen peroxide in industrial quantities at a suburban Colorado beauty supply store, Zazi told the check-out clerk that he had many girlfriends. His thick, black beard alone should have been enough to arouse suspicions. “Oh, that? I am playing the role of Mr. Abraham Lincoln on the stage of your » Read the full article