Thursday, April 19, 2012

Rick Thinks the Dollar is Heading to 90 (Transcript)

– Posted in: Links

For those who prefer to read rather than watch interviews, here is a transcript of Rick's interview with Kerry Lutz of The Financial Survival Network. The video was posted yesterday. As a service to our readers, going forward we will be making every effort to post transcripts of Rick's media appearances. Kerry Lutz: 1490 WGCH. This is Kerry Lutz. You’re listening to the Financial Survival Network. If you are wondering how long these markets can continue on their merry way to higher highs and higher lows… while the long term trend may be obvious to most, it’s in the short term where you make or you lose money. As in right now. Rick Ackerman, whose short term calls have been nothing but astounding and uncanny since I’ve been following him… he’s with us now to tell you where he thinks the dollar and the Euro and the metals are heading. Rick, welcome back to the Financial Survival Network. Rick Ackerman: Thanks for having me Kerry. Kerry: Well, it’s always a pleasure. I’ve been reading a lot of your work lately. So you seem to be of the opinion that the dollar is going higher again. Rick: Yeah. I’ve been very bullish on the dollar for a while. This morning, I had an analysis out on the dollar, that we used to chart, that called the dollar an unworthy recipient of this huge flow of money. But the fact is that every time Europe gets nervous or investors get nervous about the financial condition of Europe, all the money comes thundering into the dollar and treasuries, but also at this point, German bonds. I think that it’s obviously is not so much a healthy dollar. The dollar has been merely the recipient of this hot cash flow. So I think the dollar index

DXY – NYBOT Dollar Index (Last:79.59)

– Posted in: Current Touts Free Rick's Picks

The weekly chart (see inset) takes some of the meaningless mayhem out of the technical picture, revealing at a glance that the Dollar Index's prospects remain unambiguously bullish. The target of the pattern shown is a very bullish 85.16, but it'll probably take a weekly close above the 81.63 midpoint to kick the rally into high gear.  You can learn to do this stuff yourself, probably more quickly than you might imagine. Click here.

SIK12 – May Silver (Last:31.585)

– Posted in: Current Touts Rick's Picks

Zzzzzzzzz.  As noted here earlier, Gold will need to pull Silver out of the doldrums, since it's made no headway on its own for nearly a month. As before, to get long I'll suggest using a 'b-c' pullback from just above the 32.090 peak-let labeled in the chart. However, the odds for success would improve if the approach to that peak is sufficiently choppy to make a marginal breach of it — say, by a tick or two — look initially like a double top.

GCM12 – June Gold (Last:1642.00)

– Posted in: Current Touts Rick's Picks

A tiresome inside day changed nothing, although the trendline whose breach to the upside would signal a bullish breakout will come in a little lower today -- at 1673.60 around midnight, falling to approximately 1672.40 by early evening. As before, however, camouflageurs can start looking for a way in well before any such breakout occurs by following the two-peaks rule on the hourly chart. Bulls would re-take the offensive on a print exceeding the 1660.40 look-to-the-lef peak recorded last Friday on the way down.

ESM12 – June E-Mini S&P (Last:1379.25)

– Posted in: Current Touts Rick's Picks

A little more backing and filling and the futures should be primed for a C-D follow-through to Tuesday's manic thrust. Traders should seek entry via camouflage at the 'X' trigger of a pattern similar to the one shown.  The location of X is as yet undetermined because there is no valid point 'C' so far.  Please note as well that the 1395.25 target of a larger pattern noted here earlier remains valid.