Silver’s main bearish pattern is aiming for a re-test of the recent low and possibly for a final low of 18.965. The midpoint of the pattern is at 26.275, just above the correction low of 26.150, which is our “B” point. This midpoint is no more hidden than the one on the gold chart, where the pattern is very similar. This could change in either or both cases, should the “C” point be re-set higher and a decline ensue. In that event pivoteers should recalculate and take another look at how well hidden “P” is, with an eye to buying it. If silver’s current “C” holds but the midpoint doesn’t, the 18.965 target should not be considered outlandish, as it would represent only a slightly larger percentage decline than that which occurred in 2008. (Posted by Doug “harry” McLagan)
From the monthly archives:
September 2011
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The futures are currently trading around the exact middle of the distribution zone formed by the wild price swings of the last six weeks. As such, there are no especially appealing swing trades in the offing, only whatever scalp-worthy opportunities can be extracted from the very lesser charts. Most immediately, that implies night owls can look for a turn from the 1140.00 midpoint support shown in the chart. If it doesn’t come, however, the next logical spot for initiating a long position (via camouflage, hook, or crook) would be at 1130.50. A bigger picture suggests that the futures will want to come down to the 1088.75 midpoint of the ABC downtrend begun from July 22’s 1341.75 high. Want to learn how to nail swing highs and lows precisely, and to manage trade risk yourself? Click here for information about the upcoming Hidden Pivot Webinar on October 5-6 and a $50 discount.
…to all who celebrate the Jewish Holidays. In observance of Rosh Hashanah, which begins Wednesday evening at sundown and marks the start of the year 5772, I will not be updating touts for Friday. However, a fresh commentary will appear, and Doug ‘Harry’ McLagan will be posting timely analysis to finish the week for Gold and Silver futures.
With only a handful of players savvy enough to compete in the major leagues of tablet computing, competition has nonetheless erupted that is likely to hearten consumers, especially those who have tired of paying exorbitant prices for gadgets bearing the Apple logo. Yesterday, it was Amazon that stepped into the ring — with Kindle Fire, a $199 tablet that will sell for less than half of the cheapest Apple model. The 7-inch display is only half the size of Apple’s, but as Hewlett Packard’s close-out sale for a similar device proved, buyers are willing and eager to forsake Apple products if the price is right. To be sure, Amazon has targeted the lower end of the market with a tablet that cannot do all of the tricks that iPad is capable of. It lacks an embedded camera and microphone, for starters, and there is no 3G cellular connection, only Wi-Fi. Give Amazon a little time, however – perhaps eight to twelve months — and a fully-featured product will be able to go head-to-head with Apple’s best, but with the kicker of Amazon “content” to make it more than merely competitive.
My Barber Shares His Wealth Secrets
by Rick Ackerman on September 30, 2011 12:01 am GMT · 30 comments
(Louis Piro is an investor from the old school, a guy who innately understood that there were no shortcuts to building wealth. His approach may seem almost quaint in an era of instant IPO billionaires, but — who knows? — it may yet come back into vogue. Piro was my barber when I lived in Mountain View a decade ago, and his story originally appeared in the Sunday San Francisco Examiner during the dot-com boom of the late 1990s. I republish it here every couple of years because the advice it holds for investors remains timeless. RA]
If there is a single word to sum up the success of investor Louis Piro, that word is “dull.”
Piro has never made a killing on a stock. He doesn’t play hunches and he runs from hot tips. He says he passed up Pfizer not long ago because its shares were too pricey even before impotent men started flocking to their Viagra pill for a cure.
Nor will Piro sell anything from his portfolio. He just keeps buying — and then only with money he knows he won’t need any time soon. He adds stock whenever the price drops substantially. Piro shuns companies that sell products or services he can’t understand, and he has never even owned a share of a Silicon Valley upstart. His favorite word — “dividend” — could be the mantra of a successful hypnotist. Zzzzzzzz. Finally there is this pearl, the cliché that underlies nearly every investment decision that Louis Piro has made in the last 45 years: “Buy shares in companies that will grow with America.” » Read the full article