Monday, April 22, 2013

GCM13 – June Gold (Last:1424.00)

– Posted in: Current Touts Rick's Picks

Although the futures failed to 'actualize' a tempting camo set-up late Sunday night (see inset), moments ago, at around 2:44 a.m. EDT Monday, they triggered an entry signal at 1419.50, then accelerated to hit and exceed the midpoint resistance at 1421.30. This means the 1425.00 target of the small camo pattern is all but certain to be reached, ensuring a fresh breakout above Friday's 1424.70 high.  All of this is happening in real time, too quickly for me to describe, let alone trade. The larger pattern projects to 1430.70, so night owls should make that their minimum upside objective for the very near-term. Anything above that number would corroborate suspicions that gold actually is up to something on a Sunday night, challenging the thimble-riggers' plans for  once.

More-than-Faint Stirrings in Gold

– Posted in: Free Rick's Picks

Gold futures are up $26 late Sunday night -- noticeably more than we're used to when DaBoyz intend, as they usually do, nothing more than pulling out the rug before morning. Accordingly, I've highlighted buying advice in the Gold Bugs Index (HUI) for the first time in a long while. Please note, however, that the subtle benchmark I'd suggested using to leverage a 'camouflage' entry may get obliterated when HUI plays catch-up with Comex Gold on the opening.

HUI – Gold Bugs Index (Last:275.35)

– Posted in: Current Touts Rick's Picks

Two technical factors augur a tradable bounce from these levels: 1) the presence of a major Hidden Pivot correction target at 263.95 on the very long-term chart, and 2) an obvious structural support at 254.95. Camo buyers should use the 15-minute chart to plot an entry strategy. The key 'external' peak to use for leverage is 284.40, recorded on April 16 at 9:45 a.m. EDT.  If you fill the order please let me know in the chat room so that I can establish tracking guidance. _______ UPDATE (April 24 at 11:04 a.m. EDT): With this morning's gap-up opening and 276.00 high, the Gold Bugs Index has taken flight after bottom a day earlier at 263.19,  less than a point from the major target given above. I am not establishing a tracking position, however, since the take-no-prisoners, short-squeeze gap provided no camo opportunity whatsoever to get on board.

ESM13 – June E-Mini S&P (Last:1555.00)

– Posted in: Current Touts Free Rick's Picks

It's Sunday night, and the bullish lunatic fringe appears to have recovered its composure following last week's mayhem and jihadist intrigue. At the moment, they've got the futures up about 8 points, equivalent to 100 on the Dow.  The move is NOT yet bullishly impulsive even on the lowly 15-minute chart (see inset), but DaBoyz could remedy that with a relatively modest push above the 1559.50 'external' peak shown. This seems likely, given that any uptrending ABC you choose to examine on this chart has exceeded its 'D' target.  Because of the subtlety of the 1559.50 peak, night owls should look to board following any b-c pullback from just above it.  The set-up looks sufficiently appealing that I can scarcely imagine it failing.

The Second Coming

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

Forum discussion generated by our last topic, The FBI Will Get Them, was starting to stink worse than week-old fish.  We'll leave it to the Alex Jones crowd to determine whether the Tsarnaev brothers were in fact double agents who betrayed their U.S. and Saudi handlers, as is now being plausibly claimed. Meanwhile, below is something new and different for you to ruminate on:  Yeats' always timely The Second Coming, arguably the greatest poem of the last hundred years. Your comments will have a better chance of being published if you stay on-topic and show some imagination.