October 25th, 2014
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Americans can take comfort in the likelihood that the showdown between mortgage lenders and homeowners will not resemble Greece’s battle-to-the-death with its creditors. In the U.S., the banks are slowly losing ground to a populist, election-year tide that eventually will force lenders to accept a moratorium on mortgage debt for tens of millions of homeowners. In the rapidly escalating legal battle to bring this about, last week’s $25 billion settlement between the banks and the U.S. did not settle much of anything, since the banks in theory can still be sued into oblivion by aggrieved homeowners. The plaintiffs will be claiming in effect and with a straight face that they got in over their heads because lenders forced them to borrow more than they could repay. Who would have imagined just a decade ago that an army of reckless borrowers would seek the protection of the courts under the remorseless deadbeat’s battle flag “Kick me, beat me, make me write bad checks”?  That’s what it’s come down to, evidently, and woe to any bank that asks the court for help in turning a family out onto the street. The five big banks that signed onto the deal are undoubtedly running scared, since the legal latitude afforded those who could conceivably claim “questionable lending practices” has been widened to include just about anyone who lives in a home – including, presumably, tens of millions more homeowners who  are not yet underwater but eventually will be. Keep in mind that the costs of the yet-to-be-unveiled Homeowner Bailout Act of 2014 have already been socialized, since the GSEs have been originating 90% of all new mortgage loans. » Read the full article


TODAY'S ACTION for Tuesday

No Doubting Greece’s Sincerity

by Rick Ackerman on February 14, 2012 2:50 am GMT

With Athens streets engulfed in flames, there is no doubting the sincerity of Greece’s austerity pledge. Nor can we underestimate how dire the country’s financial crisis will become if the bailout money does not arrive soon.  We know this is so because even socialists in Greece’s parliament are supporting the deal with Europe’s bankers.  Try a free trial to Rick’s Picks by clicking here.


Rick's Picks for Tuesday
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ESH12 – March E-Mini S&P (Last:1346.00)

by Rick Ackerman on February 14, 2012 2:04 am GMT

March E-Mini S&P (ESH12) price chart with targetsCome tomorrow, the 1353.00 pivot will have held for a week, hinting that the short-covering that has been driving stocks from one plateau to the next is not of the rampaging variety; rather, it is of the quietly psychotic variety, premeditating each new leap on the basis of whatever the latest, fabricated GDP/payroll numbers and “good” news from Europe will allow. Absent any truly horrifying geopolitical news — and I’m not sure that even that would restrain buyers — we should expect the futures to break out shortly and head for the 1362.50 Hidden Pivot noted here earlier.  Traders can test the water near that price with a tightly managed short, but camouflage is advised because of the rally pattern’s less-than-stellar pedigree.  Want to learn how to nail price reversals like a pro?  You can learn to do it in as little as six weeks. Click here for information about the upcoming Hidden Pivot Webinar and receive a $50 discount.

CLH12 – March Crude (Last:100.62)

by Rick Ackerman on February 14, 2012 2:18 am GMT

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HUI – Gold Bugs Index (Last:521.51)

by Rick Ackerman on February 14, 2012 2:30 am GMT

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GCJ12 – April Gold (Last:1723.50)

by Rick Ackerman on February 14, 2012 2:43 am GMT

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$DIA – Dow Industrials ETF (Last:166.43)

by Rick Ackerman on October 24, 2014 1:27 am GMT

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$AMZN – Amazon (Last:279.20)

by Rick Ackerman on October 24, 2014 12:30 am GMT

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$TLT – Lehman Bond ETF (Last:119.69)

by Rick Ackerman on October 23, 2014 2:51 am GMT

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$AAPL – Apple Computer (Last:104.99)

by Rick Ackerman on October 22, 2014 8:18 am GMT

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$JNK – High-Yield Bond ETF (Last:40.43)

by Rick Ackerman on October 21, 2014 9:42 am GMT

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$CLX14 – November Crude (Last:83.00)

by Rick Ackerman on October 17, 2014 1:15 am GMT

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$HGZ14 – December Copper (Last:3.0100)

by Rick Ackerman on October 6, 2014 9:30 am GMT

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$SNIPF – Snipp Interactive (Last:0.3400)

by Rick Ackerman on September 5, 2014 3:05 am GMT

I first touted Snipp Interactive back in January, when it was trading around 0.15. Although the stock subsequently fell to a dime, it has since rallied sharply, settling at 0.2562 yesterday. This is one of my favorite stocks, and I came away from a conference call with its CEO, Atul Sabharwal, eager to sing their praises. During that call, I hit Atul with my best idea, a sweepstakes-type promotion, but he was already three steps ahead of me, able to cite, for one, New York State’s rules and costs for exactly the type of marketing scheme I’d suggested.

Full disclosure: I hold 100,000 shares plus warrants to purchase another 50,000 shares.  But I hope that won’t discourage you from performing your own due diligence, since you are likely to be as impressed as I was when you find out what the company has been up to. For me, at least, Snipp (OTC: SNIPF) perfectly satisfies Peter Lynch’s rule that investors favor companies whose strengths and methods they can understand. Snipp does interactive marketing that allows clients to track results in real time. The results have been sufficiently impressive that the company has been attracting blue chip clients with little difficulty. Read more about SNIPP by clicking here.

From a technical standpoint, although the stock’s chart history is thin, it’s possible to project a near-term rally target of 0.2730. A tenet of Hidden Pivot analysis is that an easy move through such targeted resistance implies there is unspent buying power percolating beneath the surface. This is not a “hot tip;” indeed, Snipp’s story does not lend itself to the kind of hubris that will result in a $10 billion IPO. But it is an aggressive and imaginative pioneer in a rapidly developing niche, and its CEO has the kind of imagination, intelligence and energy that inspires confidence. _______ UPDATE (Sep 22, 8:30 p.m.): The stock has continued to rally, and the closest Hidden Pivot target is now 0.2668.  If that Hidden Pivot is exceeded on a closing basis for two days, however, a target at 0.3474 would be in play. _______ UPDATE (Sep 23):  Snipp has entered the Brazilian market via an exclusive marketing contract with Petrobas. Click here for the news release. ______ UPDATE (Sep 23, 1:57 p.m. EDT):  The stock has gone bonkers today, up six cents to within less than a penny of the 0.3474 target projected two days ago. _______ UPDATE (October 12, 9:20 p.m.): The stock has come down hard after peaking three weeks ago at 0.34, but I view the move as a corrective opportunity to accumulate more shares.


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