March 12th, 2010
Published Daily
COMMENTARY for Tuesday

What Kind of World Sees the Dollar as ‘Safe’?

by Rick Ackerman on October 27, 2009 12:53 am GMT · 7 comments

With gold getting whacked hard yesterday, it was a time for sober reflection in the gold-obsessed Rick’s Picks chat room.  A trader who goes by the handle “Padre” saw “the Jungian collective unconscious” at work. We would take a less kindly view, more Freudian, that saw only id and ego in a state of gratuitous conflict.  But we’d be the first to admit that it can be far worse when these forces are aligned; for only then can they produce something as irresistibly corrosive as…money.  How so? Well, if you saw the classic sci-fi film Forbidden Planet, you may recall that the Krell civilization, using an infinitely powerful fusion reactor, built a machine that could conjure up all of their needs when ordered to do so telepathically.  Unfortunately, while they slept the reactor conjured up monsters from their primitive subconscious (see photo below), and that was what ultimately did them in. » Read the full article


TODAY'S ACTION for Tuesday

An Eye on the Night Shift

by Rick Ackerman on October 27, 2009 2:12 am GMT · 0 comments

Well have to wait and see whether yesterday’s selloff snowballs.  If the arse-bandits who run the night shift succeed in propping up the E-Mini futures, I’d suggesting that you take the money and run, since they will be maneuvering to pull out the rug shortly after the opening.  Update (11 a.m.):  The arse bandits, predictable as ever, did indeed pull out the rug on the opening, producing a wholly gratuitous swoon that lasted 50 minutes and which moved the E-Mini S&Ps a very tradable 25 points:  from nowhere to somewhere, then back to somewhere. “Somewhere,” as far as I can make out, is actually nowhere. Could the market perhaps be speaking to us in code about Obama’s health plan and the “public option”?


Rick's Picks for Tuesday
$ = Actionable Advice + = Open Position
Current  Actionable  Open
All Picks By Issue:

GCZ09 – Comex December Gold (Last:1036.30)

by Rick Ackerman on October 27, 2009 1:14 am GMT

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SIZ09 – Comex December Silver (Last:17.085)

by Rick Ackerman on October 27, 2009 1:24 am GMT

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CLZ09 – December Crude (Last:78.56)

by Rick Ackerman on October 27, 2009 1:33 am GMT

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GS – Goldman Sachs (Last:179.38)

by Rick Ackerman on October 27, 2009 1:44 am GMT

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ESZ09 – E-Mini S&P (Last:1064.50)

by Rick Ackerman on October 27, 2009 1:56 am GMT

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DXY – NYBOT Dollar Index (Last:76.08)

by Rick Ackerman on October 27, 2009 2:30 am GMT

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