Tuesday, May 1, 2012

Apple of Our Eye

– Posted in: Free Rick's Picks

Apple, the ostensible Mother of All Bellwethers, is tracing out a recovery pattern with the potential to provide some very useful signposts. Check out the details in today's AAPL tout, along with the chart, to get an idea of what to look for.

AAPL – Apple Computer (Last:584.05)

– Posted in: Current Touts Rick's Picks

We're keeping a close eye on the rally begun from April 24's one-off low, since it has the potential to lay down some clear signposts. One of them, labeled on the chart, is the still undetermined 'x' entry point. There, you might be able to catch a ride safely by zooming down to the 5-minute chart if and when the tripwire is approached.  This pattern may also give us a chance to observe buyers' interaction with a 'p' midpoint where hesitation would be telling.

GDXJ – Junior Gold Miner ETF (Last:23.30)

– Posted in: Current Touts Rick's Picks

Because I am unable to provide round-the-clock trading guidance for this vehicle, you'll need to take the initiative to get on board safely. Notice the opportunity that came in the final 30 minutes of yesterday's session.  Although the pattern may ultimately stop out longs with a second point 'C', it will have followed a profit-taking opportunity at the p midpoint.  Keep in mind that although we can get long more or less at will, the goal is to do so with as little risk as possible, and, ideally, to make a few bucks even if when we are wrong or premature.

SIK12 – May Silver (Last:30.975)

– Posted in: Current Touts Rick's Picks

Silver's rally from last week's low has been tentative so far, although its heart would appear to be in the right place because the move began from within three ticks of a 29.940 Hidden Pivot target pre-advertised here. What it needs now is an unpaused thrust that takes out the two labeled peaks, since that would generate a bullish impulse leg of daily-chart degree. Using the far less ambitious standard of the 15-minute chart, buyers would still need to push this vehicle above 31.215 today to generate even a faint spark.

GCM12 – June Gold (Last:1665.40)

– Posted in: Current Touts Rick's Picks

The June contract looks poised for a leap to 1688.50, a Hidden Pivot target shown in the chart.  The sibling midpoint at 1666.80 has restrained buyers so far, but only barely via very shallow pullbacks. Camouflageurs should zoom down to the three-minute chart to find an entry spot, since it holds many handholds subtle enough to grab.  Keep in mind that it is periods of tedium where these subtleties work best for us.

ESM12 – June E-Mini S&P (Last:1395.00)

– Posted in: Current Touts Free Rick's Picks

With a 1439.50 rally target theoretically still in play, your trading bias should be bullish at the moment. That said, camouflageurs should take extra care getting long at these levels, since the lesser charts are impulsively bearish. The thumbnail chart shows three 'external' peaks from just above which a 'B-C' pullback would be enticing. The camo pattern in progress when this chart was created looked too tired to use. Click here for information about the June Hidden Pivot Webinar.