Friday, August 12, 2011

ESU11 – September E-Mini S&P (Last:1157.00)

– Posted in: Current Touts Rick's Picks

Amazing how far the futures can rally without doing anything impressive.  Yesterday's technically feeble headline-grabber topped out three ticks from the target shown, apparently intimidated by the not-especially-daunting peak at 1189.00 noted in the chart.  DaBoyz may be able to squeeze the futures above it today, but the fact that it will have taken a second try and a running start is not exactly the stuff of which powerful recoveries are made. _______ UPDATE (9:50 a.m. EDT): Minutes after the opening, the futures have topped within a point of an 1187.25 HIdden Pivot midpoint that is associated with a 'D' target at 1227.75. (5m, A=1103.00 on 8/11 at 8:35 a.m. EDT). Since this peak has refreshed the bullish impulse by exceeding yesterday's high, my bias is bullish at the moment.

SIU11 – September Silver (Last:38.795)

– Posted in: Current Touts Free Rick's Picks

Short-term, Silver has a couple of  things going for it: 1) the recent low at 37.025 fell well shy of its Hidden Pivot target, and 2) the reversal since then has 'gone impulsive' on the hourly chart.  The relevant pattern projects to 40.180, and although a move to that number hardly looks like done deal shortly before 2 a.m. EDT, the fact that the 30.065 midpoint has already been exceeded by a nickel will weigh in bulls' favor.

GCZ11 – December Gold (Last:1766.60)

– Posted in: Current Touts Rick's Picks

A Hidden Pivot at 1778.60 can be used by night owls for trading guidance. This modest rally target is tied to a 1764.50 midpoint that was decisively exceeded on the second try. The futures are stalled at the moment near 1770, however, because three peaks have been made near there since yesterday morning.   The modest move required to reach the target would surpass two important peaks on the hourly chart, giving bulls new authority, at least for the near term.

Cable TV’s Customers Have Had Enough

– Posted in: Commentary for the Week of March 8 Free

To hell with the stock market, which continues to jump around like a flea in a microwave. Our favorite story yesterday concerned how customers are deserting cable and satellite TV in droves. It couldn’t happen to a more deserving bunch.  Dippin’ Dots and $8 ballpark beer aside, pay TV may be the worst value one can get for one’s buck.  So why are subscribers canceling in record numbers? There are two apparent reasons: 1) The Great Recession; and 2) the availability of cheaper video entertainment online. One might hope this trend would induce cable and satellite providers to do something they have never done before and have probably never even considered – i.e., lower their prices – but we’re not going to hold our breath.  Recall that back in the 1960s, for $9.95 a month, cable companies promised commercial-free television that would put network programming to shame.  Movie theaters felt so threatened by it that one local theater we can recall had a television set in the lobby with a bobble-head dragon and a sign that asked, “Would you let a monster into your living room?”  In retrospect, theater owners needn’t have feared the incursion of cable TV, since we all need an occasional night out.  People will continue to go to the movies no matter what, even with theaters charging $8 for a bucket of popcorn and showing movies that are getting worse and pricier by the year. In retrospect, the premium programming that $9.95 bought in the 1960s was a great deal compared to what $70 buys today from the likes of Comcast.  Yes, there are 500 channels, just like futurists promised us back in the Sixties.  But about 400 of them are infomercials, and the rest – including such formerly commercial-free fare as AMC – are so