Monday, May 7, 2012

ESM12 – June E-Mini S&P (Last:1364.25)

– Posted in: Current Touts Rick's Picks

It's early Sunday evening, and the futures have opened 2.00 points lower than the lowest Hidden Pivot target available on the hourly chart. This means they are probing for support near a key bottom at 1332.75 recorded on March 6.  Since camouflage is so well suited to determining precisely whence the all-but-inevitable upturn will occur (even if from beneath 1332.75), night owls should look to do their bottom-fishing on the one-minute chart -- the first place where there are any 'external' peaks to use for a grip.  (Let me mention that even on the one-minute, such peaks leave something to be desired, since they are not preceded by distinctive lows).  I've labeled a few such peaks on the accompanying chart for your further guidance. _______ UPDATE (11:43 a.m. EDT):  There were numerous entry signals to try, none worth a damn. The best of a bad lot came around 3:30 a.m. off a bear-trap point 'C' that was just too scary to use. The  entire rally from the overnight low has yet to produce an impulse leg; that would take a print at 1368.75.  A 'b-c' pullback from a tick or two above that number can be used by camouflageurs to get long. _______ FURTHER UPDATE (3:01 p.m.):  The Cubes have rebounded sharply, allowing us to close out half the position @ 1.25, three cents off the so-far recovery high.  Imputing the gains thereof to the half of the position that remains gives us an effective cost basis of 0.81 per contract.

A Gold ‘Penny Stock’ Worth Another Look

– Posted in: Free Rick's Picks

In today's touts, I am recommending the purchase of ten-thousand shares of a gold mining stock featured here a while back when it was trading for more than three times its current price.  The rationale for buying the stock is technical, since I'm suggesting that you bid slightly above a precise midpoint Hidden Pivot support that is very close to being achieved. Please note that my initial interest in the stock was based on a visit to its mine site in Idaho. Like so many other promising mining stocks, it has been sold to death for perhaps all of the wrong reasons.  If you don't subscribe but are eager for further details, click here for a free seven-day trial to Rick's Picks.

GCM12 – June Gold (Last:1643.10)

– Posted in: Current Touts Rick's Picks

Friday's bullish turnaround promised to take on a by-now-familiar trendline whose promising upward penetration earlier in the week failed to generate much follow-through. The trendline comes in at around 1652.60 mid-day, and its breach, for a second time, would put bears on the defensive.  Hidden Pivot resistance lies just below, at 1650.50, and an easy push past it would imply the trendline itself is dead meat. A close above both would be indicating more progress over the near term to at least 1674.10, the 'D' target with which 1650.50 is associated. It would take a bit more, however -- specifically, a push exceeding mid-April's 1681.30 peak -- to put bulls back in the driver's seat.

PMMEF – Premium Exploration (Last:0.0700)

– Posted in: Current Touts Rick's Picks

We last looked at this stock in November when it was trading for around 26 cents a share.  More than a year earlier, I had visited the company's 22-kilometer mine site in Idaho and came away impressed -- not only with the site's geological potential, but also with Premium's experienced and dedicated management team. However, because PMMEF failed to generate the 'buy' signal that had been stipulated in the November tout, we did nothing as the stock fell to a current price of around 7 cents.  It is close to becoming a speculative buy, however, as it approaches the 0.0616 midpoint support of the pattern shown in the chart. Accordingly, I'll recommend buying ten-thousand shares for 0.0631, stop .0589, good-till-canceled.  Please be aware that because the stock is thinly traded, the stop-loss may not work as intended.  Commissions could be high too, so you'll need to determine for yourself whether it's worth the risk. It is intended as a speculative play with high potential. _______ UPDATE (May 15, 8:45 p.m. EDT):  We bought 10000 shares for o.0631 yesterday when the stock came within nine-hundredths of a cent of my target.  If your order filled at a better price, please let me know in the chat room. For now, lower the stop-loss to 0.049 and let the position ride.

SIN12 – July Silver (Last:30.320)

– Posted in: Current Touts Free Rick's Picks

The futures turned higher on Friday without having reached the 29.480 correction target I'd flagged. This is bullish as far as it goes - and bullishly impulsive on the lesser charts -- but the rally will need to eke out a little more upside to generate a second 'camouflage' opportunity for those of you who missed the 30.180 entry signal tripped on Friday (A=29.850, B=30.480). The subtlest such opportunity I am able to discern as of late Sunday afternoon is shown in the chart.  Keep in mind that a worst-case target at 28.810 is still viable.  If you are able to get long based on the pattern I've sketched the chart, please let me know in the chat room so that I can establish a tracking position for your further guidance. Rather be a trader than a lurker? Click here and we’ll show you  how.