March 11th, 2010
Published Daily
COMMENTARY for Wednesday

Is Mood Shifting Back to Crisis?

by Rick Ackerman on October 28, 2009 12:38 am GMT · 15 comments

We’ve grown so used to forecasting with blandly mechanical detachment that it can be jolting when our instincts struggle to take over, as they did when Goldman Sachs shares dove without warning on October 15. Considering the firm’s stock chart by-the-numbers, we expected higher prices. Had the charts failed to warn us of an important top? To be sure, our strong preference for technical analysis over fundamentals comes from having gotten ambushed too many times when we followed fact and logic into a dark alley. Still, when Goldman gapped $5 lower on the opening that day, we sensed that something had changed. Since then, our unease has only grown. The bank stocks have continued to fall, although » Read the full article


TODAY'S ACTION for Wednesday

Goldman-Watch

by Rick Ackerman on October 28, 2009 1:19 am GMT · 0 comments

Although bellwether Goldman wouldn’t allow itself to be dragged lower yesterday, its rallies weren’t very convincing either.  The action left me somewhat bearish on the market as a whole, but I would leap into the bullish camp if GS can muster a print today at 182.93.


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

DXY – NYBOT Dollar Index (Last:76.15)

by Rick Ackerman on October 28, 2009 12:51 am GMT

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GCZ09 – Comex December Gold (Last:1032.10)

by Rick Ackerman on October 28, 2009 12:59 am GMT

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ESZ09 – E-Mini S&P (Last:1038.50)

by Rick Ackerman on October 28, 2009 1:08 am GMT

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AAPL – Apple Computer (Last:196.39)

by Rick Ackerman on October 28, 2009 1:16 am GMT

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