I spent much of Thursday in a time warp, thinking and acting as though it were Friday. To make matters even more confusing, my web site proclaimed on an inside page – erroneously, I am told -- that it was Wednesday. So when stocks began to fall more sharply toward the end of the day – it was Friday for me, remember – I wondered whether the Queensbury Rules had somehow been revised to permit a kick in the groin. After all, aren’t stocks supposed to be allowed to coast to a gentle three-point landing as the week ends, provided they’ve made it to mid-morning without any unseemly behavior? That’s what I thought, too. But here the broad averages were, tracing out a glide path in the final hour that brought Flight 93 to mind. Thank heaven for the final bell, since it halted the SPX at the approximate midpoint of a cliff dive I’d warned about earlier in the day via the Rick’s Picks bulletin launcher.

(Click on image to enlarge)

But investors may still rue the fact that the mild end-of-day carnage occurred on a Thursday rather than a Friday, since the felicitous Monday Effect will be absent when the trading bourses open for business this morning. You say you weren’t aware that shares have wafted higher on 347 of the last 351 Monday openings? Okay, so I exaggerate. But only a little, and you can check that for yourself. Who could possibly want to dump stocks on Monday morning after listening to Jim Cramer and the Pod People Network all weekend long, telling it like it never was. Incidentally, London radio’s Resonance 104.4 FM (“The world’s best radio station” -- The Guardian) interviewed me yesterday for a segment that will air this Saturday. If you’re looking for an antidote to Cramer et al., I invite you to turn on, tune in, and…whatever. For those who do not live in or near London, I’ll provide webcast details in the edition to be sent out Friday night.

***

Learn My Secrets

Would you like to be able to forecast trends and price reversals as accurately and confidently as Rick’s Picks? Have you tried other trading systems, only to find them too complicated or otherwise unhelpful? Then don’t miss my Hidden Pivot Seminar this autumn in New York City. Plans are firming for a weekend session in early October, so please let me know via e-mail if you think you might attend. This will be a no-frills version of the course that I gave in Denver, offered at a significant saving over the original price.

There will probably be just one more session offered after that on the West Coast, but that would be the last for a long while. The course includes post-grad mentoring via a chat group that some of my former students have set up. If you’ve been impressed with the accuracy of my forecasts, this is an opportunity you cannot afford to pass up. Let me hear from you soon, since seat space is limited.