March 2009

A bullish reversal of at least minor degree would be signaled today by a print at ###.##, but if the futures continue lower...

The ###.## downside target given here yesterday remains valid, but if it's breached by more than a couple of points we should brace for a renewed onslaught to at least...

Someone mentioned Ross Clark's 6600 target for the Dow, so I thought I'd have a look, since anything Ross cites as support is unlikely to become chopped liver. From a Hidden Pivot perspective, however...

Global markets verging on collapse dragged bullion lower yesterday, but not by much. While Comex April Gold finished down 1.4%, the Dow’s lost three times as much, falling 300 points on the day, or 4.2%. Rick’s Picks subscribers managed to dodge the bullet with a short position in the Gold Miners ETF (GDX) that has gained 50% since we acquired it last week. (Click here for a detailed explanation of the risk-averse option strategy that we used.) Anyone feeling disappointed over gold’s sullenness in recent days should contemplate the carnage in any of a dozen other asset classes. The Dow for instance. It is now trading 52% below the 14198 record high reached in October 2007. Compare that to gold, which even after the sharp selloff of the last few days is still within 12% of its all-time high, $1050, recorded almost exactly a year ago. From a technical standpoint, the thing to notice about gold is that the rally spike to $1007 a few weeks ago exceeded a key high at $1005 made back in July. The $2 overshoot may not seem like much, but according to the Hidden Pivot Method that we use to forecast trends and price swings, it is enough to all but guarantee that the current bout of weakness in gold (and silver) will give way to another strong leg up. Gold’s primacy as an investment asset should be in-everyone's-face obvious by then, since it will be establishing a base above $1000 at the same time the Dow Industrials are hitting ten-year lows. Mass Psychosis Under the circumstances, bullion investors have good reason to be patient. It was foreseeable that Gold would get knocked down when it briefly poked above $1000 a couple of weeks ago. (For the record, we sent the following heads-up to subscribers

On the daily chart, TBT is tracing out a potentially well-camouflaged, bullish impulse leg, having exceeded two February peaks without taking out...

DXY looks bound most immediately for a Hidden Pivot rally target at 89.42. While that would not necessarily push gold lower, it could give the...

It's hard to imagine how the futures will be able to avoid falling to the ###.## target shown in the chart, but there is likely...

If the bull is ready to come roaring back, it will be signaled by an uncorrected thrust that exceeds the two peaks labeled in the chart. The higher of them lies at ...

Although we've been hearing that food purveyors have retained some pricing power in these deflationary times, it surely is not reflected in the performance of Kraft shares. Even so, a chart we received from a Hidden Pivot aficionado suggests that bottom-fishing near these levels could be rewarded with a strong bounce. There are three places that look worthy of a try...