October 25th, 2014
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Credit Card Noose Tightens in Deflation

by Rick Ackerman on September 30, 2009 12:10 am GMT · 9 comments

When B of A spokesman Lawrence DiRita turned up on the evening news not long ago to assure listeners that his employer was willing to work on a case-by-case basis with troubled customers, we decided to call his bluff.  Would DiRita, formerly a high-ranking official in the Defense Department, go to bat for the borrower whose “teaser” loan from the bank was about to shoot up overnight from 0% to 12.24%?  Everyone with a credit card has been offered such a loan at one time or another, and it was once possible to initiate one at rates varying from 0% to 4%, with no additional fee for the balance transfer. Not any longer, though.  Anyone unfortunate enough to have gotten caught with a large balance when the » Read the full article


TODAY'S ACTION for Wednesday

Looking for signs of a top…

by Rick Ackerman on September 30, 2009 1:16 am GMT

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Rick's Picks for Wednesday
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DXY – NYBOT Dollar Index (Last:77.06)

by Rick Ackerman on September 30, 2009 12:35 am GMT

The dollar’s recent low missed a Hidden Pivot target that I’d drum-rolled in my commentary by just 26 cents. I offered no target for the current DXY rally, but keep in mind that once it ends, I expect DXY to plummet all the way down to 72.93.  Moreover, DXY’s rally may just be getting started because the initial reversal off the 75.83 low (versus a 75.47 target) has had no problem generating bullish impulse legs on the hourly chart.  If true, this would mean gold will remain under pressure for a while — perhaps another 7-10 days. The good news is that it is already under pressure but still able to home in on $1000 nonetheless. If $1000 is cruising altitude, as would appear to be the case, that’s good news for long-term bulls.

GCZ09 – Comex December Gold (Last:1007.90)

by Rick Ackerman on September 30, 2009 12:45 am GMT

Considering that Gold has simply been loitering near $1000, chat-room interest in the stuff seems somewhat fevered.  Relative to my forecast for the dollar and U.S. Treasurys (see today’s touts), I see bullion remaining under pressure for perhaps another week or two before it advances on a long-standing Hidden Pivot target at 1074.50.  I’ll be ready to reconsider if the December futures start pumping out some bullish impulse legs on the hourly chart (or even a mere 1001.70 on the 5-minute bars) , but until that time, keep the 970.80 downside target in mind as a worst-case number for the near term. _______ UPDATE (1:21 p.m.): We lucked out during this morning’s weekly tutorial session when a “camouflage” entry opportunity at 1004.50 popped up unexpectedly, allowed us to get long almost risklessly.  The ‘D’ target of the minor pattern used to make entry was 1005.70, but, as is the usual practice with camouflage entries, longs were to hold onto at least a small portion of their original positions for potentially bigger thrills ahead.  [Note:  Recordings of more than 30 Wednesday sessions are available to all seminar grads. The seminar fee includes three months’ access to the recordings, but if you’ve used that up, please contact mikej165@gmail.com to  renew.)

USZ09 – December T-Bond Futures (Last:43.86)

by Rick Ackerman on September 30, 2009 12:54 am GMT

At yesterday’s peak, the futures were just a few ticks shy of a potentially important Hidden Pivot target at 121^31.  If it fails to contain the surge, however, look for another topping possibility at 122^22, a Hidden Pivot that you can short with a tight stop-loss. Switch to a 5-tick trailing stop on a pullback of  10 ticks, and use 121^24 as a minimum downside target.  A top of at least short-term significance is loosely corroborated by a 43.18 target for TBT that I disseminated in the chat room yesterday afternoon. ______ UPDATE: Both vehicles trashed their respective targets, stopping out anyone who attempted to go against the trend.

DIA – Diamonds (Last:96.22)

by Rick Ackerman on September 30, 2009 1:04 am GMT

We can use a midpoint support at 96.97 this morning to attempt bottom-fishing in this vehicle. Bid 1.55 for two October 97 calls (DAVJS), but stop yourself out if the stock trades under 96.89.  DIA would be signaling more weakness over the near term to as low as 95.58 if the stop is hit. _______ UPDATE (10:20 a.m.):  DIA was trading below the stop when the calls hit 1.55, but if you bought them anyway your loss on exit moments later would have been no worse than $12 per contract.  The 95.58 target is still valid.

$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

SIZ09 – December Silver (Last: 16.200)

by Rick Ackerman on September 30, 2009 1:09 am GMT

The futures appear to be struggling too hard to get past a relatively modest resistance at 16.410 made last Friday on the way down.  Such a thrust would create a bullish impulse leg on the lesser charts, but if it doesn’t happen, look for further consolidation over the near term to as a low as 15.680.


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