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From the monthly archives:
October 2011
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Mining-sector bellwether Goldcorp may have turned the corner with this week’s impulsive thrust to new recovery highs. We’ll be following the stock more closely for potentially important clues, but for now, check out today’s tout and the chart that accompanies it for some encouraging news.
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The prospect of finding a ‘camouflage’ entry for the next leg up remains intact, since the bullish pattern that I flagged on the daily chart yesterday is continuing to correct in b-c fashion. While we should always be open-minded enough to allow for the somewhat unexpected 3000-point collapse in the Dow, my gut feeling is that the broad averages are headed higher over the next few weeks, especially since October is “always” the month when stocks get nuked, if they do. One further contrarian possibility we should be willing to entertain is that the rally is not yet ready to correct, and that the AB impulse leg launched from 1068 two weeks ago will surpass yet one more “external” peak before DaBoyz allow bears to carry the dead and wounded from the battlefield. The external peak I am referring to is the 1223.75 high recorded on August 31 (see inset), and if it is exceeded from here with no intervening b-c correction on the daily chart, we might well infer that the Christmas Rally has already begun. Want to learn how to nail swing highs and lows precisely, and to manage trade risk with a simple approach? Click here for information about the upcoming Hidden Pivot Webinar on November 16-17 and a $50 discount.
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With Thursday’s touts, I haven’t gone very far out on a limb, but there’s room nonetheless for a bullish play in the E-Mini S&Ps if traders remain intoxicated with the bullish “story” on Greece et al. Not that every one of them doesn’t know it’s going to end badly; just that each is acting as though he will be just ahead of the panic when it hits.
An Anarchist Explains How to Be Truly Free
by Rick Ackerman on October 14, 2011 12:01 am GMT · 131 comments
[What does it take to live in America as a truly free person? More sacrifices than you might imagine, actually. The author of the guest commentary below, self-described Anarchist Carole Gibson, never lets the government dictate the terms of her life. That means, for one, avoiding airports and commercial jets, where she would be subjected to all of the rules and intrusions that most of us have come to grudgingly accept. Not Carole, though. A regular contributor to the Rick’s Picks forum, she explains below how she strives to keep herself beyond the reach, both legally and literally, of Government. RA]
Tired of living under the heavy hand of government? My advice is to stop complaining and do something about it. No, I don’t mean demonstrate, write “your” representatives or vote; I mean take your life into your own hands and create the freedom you desire without waiting for someone else to do it for you. I have found ways to exist in this world maximizing my personal freedom and you can do it too. I believe that the best government is that which governs least. In fact, my beliefs about government are anarchical. My definition of anarchy is “a theory that regards the absence of all direct or coercive government as a political ideal and that proposes the cooperative and voluntary association of individuals and groups as the principal mode of organized society”. Under this definition, I am absolutely an Anarchist. » Read the full article