Tuesday, November 20, 2012

Encouraging Signs in Gold

– Posted in: Free Rick's Picks

Today's trading tout for Comex Gold, as well as an update in GORO, reflect the encouraging signs of strength we saw yesterday in the precious metals sector.  Both of these vehicles, as well as numerous other bullion plays, looked poised to take out Hidden Pivot resistance not far above

IBM – IBM Corp. (Last:193.50)

– Posted in: Current Touts Free Rick's Picks

Big Blue has gotten a new lease on life, what with seasonality ratcheted up to the max just as oversold indicators were screaming for mercy. Now the stock is an odds-on bet to hit a minimum 192.38 once it has dispatched the 190.60 midpoint pivot of the pattern shown. The rally would have to vault the November 13 high at  190.88 to refresh the impulsiveness of the intraday charts, but you can use the 190.60 midpoint as a 'synthetic external' to create a usable camo entry price.  ______ UPDATE (November 25, 11:23 p.m. EST):  The stock blasted past 192.38 on Friday, headed for an eventual test of supply near 196 that was deposited earlier this month.

ESZ12 – December E-Mini S&P (Last:1381.50)

– Posted in: Current Touts Rick's Picks

For tracking purposes, we remain short a single contract whose 1470.00 cost basis reflects paper profits taken on three more contracts originally shorted at 1399.25. Stick to the 1388.25 stop-loss given here earlier. If it's hit, the theoretical gain on exit would be $4600.  Hard to say how much more mileage DaBoyz will be able to squeeze from seasonality and the heavily oversold readings that obtained until Monday, but if they can waft this gas-bag above the 1399.75 'external' shown, they'll have unchallenged control of the game through Black Friday, at least.

The Looters Are in Control

– Posted in: Commentary for the Week of March 8 Free

[And now it’s time for Mr. Obama to start paying for all those votes by reaching deep into our pockets. If you intend to avoid paying your “fair share,” however, please take note: There will be  few places to hide. For a gimlet-eyed view of what may lie in store for taxpayers and citizens of all political persuasions during the next four years, ponder the guest commentary below, from Wayne Siggard, a regular in the Rick’s Picks forum. RA] The election was all about new math:  47 = 51. The foresight and genius of the Founders knew no bounds.  Ben Franklin said, “Once the people find they can vote themselves money, that will herald the end of the republic.”  The trumpets have sounded.  The heralds have announced the awakening of the masses to that reality.  The greatest and most free nation the world has ever known has just sold its birthright for a mess of pottage; or, at least, the promise of an Obama phone. The takers have voted to take control over the producers. Everyone will now get a fair shot -- except that those who work in government and those who take government welfare will get a fairer shot.  Obama knows that you didn’t build that company.  You didn’t live frugally and save more money than your neighbor while they spent theirs on drugs or riotous living.  He knows this because he didn’t get anything without government assistance -- affirmative action put him ahead of more qualified people who earned a spot that he took, just like Elizabeth Warren. You couldn’t possibly have gotten anything on your own merit or hard work. A claim for material position can be met only by a government with totalitarian powers. – Friedrich von Hayek Von Mises said that full government control