Crude oil prices are at an extremely crucial threshold, since a move touching 107, basis the NYMEX April futures, would imply a very powerful breakout is at hand. Since this could signal a heightened threat of war in the Middle East, we’ll be keeping a very close watch in the days ahead.
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It’s been a long while since we looked in on this stock, but its ballistic rally of late warrants a timely update. While Cameco’s long dirge appears, finally, to have ended, the stock’s ability to hurdle a series of ‘external’ peaks tracing back nearly a year can tell us how far it might travel relative to the bull market peak near 45 from last February. For now, we’ll judge buyers’ mettle according to how well they handle the 27.56 Hidden Pivot target of the pattern shown. The stock is a cinch to get there, but it will need to get past the resistance within no more than a day or two of first touching it before we infer that there is power enough to drive the rally significantly higher in the months ahead. Would you like to learn how we use the ‘camouflage’ trading technique to significantly reduce entry risk? Click here for details.
A Hidden Pivot at 1534.30 flagged here earlier is pulling the futures lower, along with a secondary target (shown) at 1532.70. Camouflage is called for if bottom-fishing, so start looking for the turn on the 5-minute (or less) chart from 1535.80 on down. If these supports give way easily and, heaven forbid, the futures close below them, the next stop would likely be 1500.00, the ‘D’ target of the large pattern shown. Night owls could also use a 1520.30 target to bottom-fish — without camouflage. A four-tick stop-loss should suffice. Want to learn how to do this stuff yourself? Click here for information about the upcoming Hidden Pivot Webinar on June 6-7.
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There are numerous bearish patterns we can use to project a potentially important low, but the one that I like most has three single-bar coordinates, all sharply etched. They produce a 358.38 ‘D’ target, and although I cannot guarantee that will be where the carnage ends, it would most surely be worth bottom-fishing with a tight stop-loss. My best-case scenario implies that the low was made yesterday at 390.63, just 0.59 points from the ‘D’ target shown in lavender. To take the offensive, bulls would need to push this vehicle to 422.47 by Thursday.
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Election 2012 Just One More Crafted Illusion?
by Rick Ackerman on February 22, 2012 12:01 am GMT · 95 comments
[For well more than a year, the Mainstream Media have given us a steady flow of campaign bilge that, finally, has made the entire Republican field seem unappealing. Perhaps this was the Fourth Estate's goal all along. After all, it was a left-tilting press that conspired to help Obama win in 2008 by ignoring his complete lack of experience and extreme political views. This time, with the same goal in mind but using the opposite approach, the news media have picked off the GOP candidates one by one, turning them into shooting-gallery ducks as their ex-wives and mistresses, former employees and business associates and a sordid parade of other detractors testified against them. And all for what? Apparently, to ensure the still-likely nomination of Mitt Romney, a man whose candidacy excites no one.
In the guest editorial below, Wayne Razzi, a Rick’s Picks forum regular who goes by the handle “Red Will Danaher,” explains how it came to pass that, in a time of national crisis, we are about to do no better in November than perpetuate the political status quo. Could things have turned out differently? Unfortunately not, concludes Wayne. It may take catastrophe, rather than mere crisis, to bring about real change. RA]
Assume for a moment that you’ve been installed in the role of the maintenance manager of the Great American False-Choice Spectacle. Your prime directive would almost certainly be to keep hidden the fact that outcomes matter little. Thus, as we are repeatedly informed via popular media, you may strongly consider hiding the truth in plain sight, as there are few better places. And so, that seems to be the case now more than ever as the strategy is executed through the chain of command and control that expertly utilizes mass media. » Read the full article