Thursday, December 20, 2012

SH13 – March Soybeans (Last:1429.75)

– Posted in: Current Touts Rick's Picks

Notice how Soybeans' most recent thrust failed by two cents to surpass the very subtle external peak circled in yellow. This chicken-hearted action is a green light to position trades from the short side, including selling call premium, from now until the cows come home. Whether put premium will prove equally safe to sell depends on whether the minor downtrend exceeds its 'p' support (or more bearishly, its 'D' target.) If not, we could see this vehicle shuffle sideways for an eternity -- or until a 1930s-style dust bowl makes beans scarce.

Fiscal-Cliff Masturbation

– Posted in: Free Rick's Picks

Fiscal-cliff masturbation is the stock market's current mode, and if you've somehow found this interesting or are hoping for something more from Wall Street's Masters of the Universe, you need to get a hobby. A DJIA tout (and chart) included in today's lineup explains why bears hoping Santa will get sacked this year are courting disappointment.  Technically speaking, between now and December 26 DaBoyz could inflict nearly 300 points of pain on shorts in any given two-day period.  My Hidden Pivot target is 13524, and it will remain valid as long as the Indoos, currently trading for around 13252, do not exceed 13118 to the downside.

DJIA – Dow Industrial Average (Last:13252)

– Posted in: Current Touts Free Rick's Picks

We were briefly short the Diamonds earlier this  week, but with that petty distraction out of the way it's a good time to look at the cash Dow disinterestedly.  It sold off 100 points yesterday, but bears shouldn't get their miserable hopes too high, since the recent top easily exceeded the 13321 midpoint resistance of a bullish pattern that projects to 13524 (see inset). That last number affords DaBoyz plenty of running room for a one- or two-day romp, and you should hold that in mind, along with a bullish bias, in the days ahead. You can learn to do this stuff yourself, and it’s easier than you might think. Click here for details — and a $50 discount coupon.