Wednesday, November 21, 2012

If you're still short, stick to the 1388.25 stop-loss. The purpose of using a stop-loss based on the creation of a bullish impulse leg is to avoid getting ejected from a trade merely because DaBoyz have elected to "run the stops."  So far, this has kept us in the trade, although my strong hunch is that seasonality over the remainder of the week will suffice to push this vehicle above 1388.00.  If so, it won't be such a bad thing, since anyone who followed my advice precisely will come away with a $4600 gain on a trade that risked, theoretically, just three ticks on entry.

I'll be in the chat room from time to time and may even convene an impromptu trading session before the week is out, but today's touts and commentary will be the last until Monday so that I can enjoy an extended stretch of family time. Until then, let me wish you all a bountiful Thanksgiving and a most relaxing holiday weekend.

Far from the world of leveraged finance and esoteric debt instruments, in the rugged hills of Tamworth, New Hampshire, is Hank Letarte’s White Gates Farm. It is a marvel of efficiency that serves to remind us city-folk of how a healthy, vibrant economy is supposed to work. Nothing is wasted at White Gates. The fuel that powers Letarte’s tractors and enriches his soil is homemade with ingredients scavenged from local providers. He uses cooking oil from restaurants to make diesel fuel. To warm greenhouses so that tomatoes fatten more quickly, Letarte extracts BTUs from a 15-foot-high pile of mulch. Coffee grounds from Dunkin' Donuts produce compost with a nice twist: the bears don’t care for it. A small plow has been fashioned from scrap metal salvaged from a heap of Army surplus. While visiting friends in Chocorua, New Hampshire, your editor got a four-star tour of White Gates Farm from Letarte, whose pork sausage is legendary at the local farmer’s market. The photos below show how very resourceful he must be in order to prosper.  “It’s a lousy way to make a living” Letarte confides, “but a great way to live.” *** Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. There is a substantial risk of loss in futures and option trading, and even experts can, and sometimes do, lose their proverbial shirts.  Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at