Late Sunday night, December Gold was paying toe-sies with an 1134.50 target that has been on our agenda for a while. I’d like to see the futures close above it before I infer the next target, 1174.90, is a done deal. We’ll monitor the hourly chart closely in any case so that we’re not caught off guard by a major top forming between the two targets.
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Rick Ackerman is the editor of Rick’s Picks and a partner in 
Bear Rally Recalls Ballerina’s Fatal Dance
by Rick Ackerman on November 16, 2009 12:01 am GMT · 16 comments
We’ve got a nickname for the bear rally begun last March on Wall Street: the “Red Shoes Market”. The metaphor alludes to the classic 1948 British film based on Hans Christian Andersen’s dark fairy tale. Every cinema buff knows the story of the ballerina, played by Moira Shearer, who couldn’t stop dancing after she put on a pair of enchanted crimson ballet slippers. Eventually she danced herself to death. That’s exactly what we foresee for the stock market once the mad energy that has powered the rally has been spent. That this » Read the full article