April 18th, 2014
Published Daily
Topic of the Week

U.S. stocks showed unbridled enthusiasm yesterday for the changing of the guard in North Korea, tacking 337 points onto the Dow Industrial Average. Could heir apparent Kim Jong Eun be the Man of Peace the world has been waiting for?  It sure looked that way on Wall Street, where a wave of optimism about something fabulous swamped sellers from the opening bell. Even if the young Kim – reportedly a huge basketball fan like his dad —  merely slows North Korea’s mischievous transfer of nuclear weapons technology to Iran’s mullahs, jihadists and terrorists around the world, it would be the best Christmas present our crisis-fatigued planet could receive. Small wonder, then, that North Koreans were sobbing in the streets as they grieved the loss of their Dear Leader.  And very dear he must have been, to judge from the tens of thousands of mourners who lined up for hours to pay their respects as Kim Jong Il lay in state, ensconced in a glass-covered coffin. Was he smiling when he died?  We couldn’t tell looking at the picture below, although we won’t be surprised if a future biographer reveals that Kim, who’s name means “regal hill,” was a world-class kibitzer in private. » Read the full article


TODAY'S ACTION for Wednesday

Gold and Silver futures are in uptrends Tuesday night that could generate opportune ‘buy’ signals. To assist you in getting aboard with as little risk as possible, I’ve sketched out detailed scenarios that show how these trends might be traded.


Rick's Picks for Wednesday
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DJIA – Dow Industrial Average (Last:12104)

by Rick Ackerman on December 21, 2011 4:51 am GMT

Dow Industrial Average (DJIA) price chart with targetsShould I mention that yesterday’s 337-point rally was not impulsive on the larger intraday charts? Check out the 240-minute bars if you don’t believe me. Another measly 31 points would have done the job, but it looks like the panic-stricken shorts who powered yesterday’s wilding spree just didn’t have it in them.  My hunch is that the rally will prove to have been a one-and-a-half-day wonder after bears have done their puking Wednesday morning. Still, because the daily chart actually is impulsively bullish, we’ll have to treat the expected pullback with the same deference today’s commentary has accorded Kim Jong Il.  Allowing for the most bullish scenario I could possible see over the next eight trading days, my maximum rally target would be 12760, subject to midpoint interference at 12248.

ESH12 – March E-Mini S&P (Last:1229.00)

by Rick Ackerman on December 21, 2011 5:06 am GMT

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GCG12 – February Gold (Last:1615.20)

by Rick Ackerman on December 21, 2011 5:28 am GMT

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SIH12 – March Silver (Last:29.470)

by Rick Ackerman on December 21, 2011 5:42 am GMT

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$ESM14 – June E-Mini S&P (Last:1850.50)

by Rick Ackerman on April 17, 2014 7:52 am GMT

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$USM14 – June T-Bond (Last:134^06)

by Rick Ackerman on April 2, 2014 3:21 am GMT

We don’t pay much attention to this vehicle other than at key turning points, but the short-term pattern shown looks like a lay-up for traders who see futures contracts as no more than bouncing dots on a chart, waiting to be exploited. There are actually two trade possibilities here: 1) a ‘camouflage’ short as USM slips below the 132^13 midpoint; 2) and a very tightly stopped long from within a tick or two of the 131^17 target. Good luck!  Please report any fills in the chat room so that I can establish a tracking position for your further guidance. ______ UPDATE (3:17 p.m. ET): The short was tricky to initiate, but once aboard, your reward came quickly with a drop to a so-far low at  131^26. As noted above, the short should be covered and reversed near 131^17. ______ UPDATE (April 6, 3:57 p.m.): The low of Friday’s violent price swings was 131^21 — not quite close enough to have gotten you long easily. Although this could prove to be an important low for the short- to intermediate term, under the circumstances I’ll assume no subscribers were filled. _______ UPDATE (April 11, 1:03 a.m.): Next important stop on the way higher: 135^17.

HGK14 – May Copper (Last:2.9820)

by Rick Ackerman on March 31, 2014 12:20 am GMT

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