THE MORNING LINE
Gone Fishin’…
I’m taking a break from the daunting challenge of predicting the stock market’s behavior each week as though it were correlated rationally and logically with events in the real world. My weekly commentaries will resume when I am feeling better up to the task. In the meantime, if you need a regular dose of Rick’s Picks, don’t pass up a free opportunity to use and enjoy all of the site’s amenities, including the Trading Room, the heart and soul of my service. Its purpose is to help investors make money, a goal it achieves so consistently that gifted traders from around the world like to hang out there. The photo above shows Venezuela’s Angel Falls, the world’s highest waterfall and a good metaphor for my outlook on the stock market. Finally, here’s a link to my latest rant at This Week in Money.
Rick's Free Picks
$ESM26 – June E-Mini S&P (Last:7595.75)
Who needs sophisticated analysis when the broad averages rise or go sideways 95% of the time, and when they never fall for more than three consecutive days? The chart assumes the E-Mini S&Ps will continue their ascent next week, possibly stopping for a short breather when they hit 7694.25, the
$+GCM26 – June Gold (Last:4462.8050)
If you got long at or near the green line as I advised here last week, your theoretical, unrealized profit on the standard four contracts would be around $71,000 — more than enough to pay for your subscription and a luxurious week in your favorite destination. Typically, I advise taking
$TNX.X – Ten-Year Note Rate (Last:4.43%)
Rates pulled back so sharply from menacing heights last week that one suspects Trump’s “team” was working its magic from the shadows. The president may not be able to control interest rates, but there is little doubt he can jostle them around for a little while when things start to
TNX.X – 10-Year Note Rate (Last:4.40)
Rates on the 10-Year Note came within a hair on Friday of lows not seen since October. My suggestion is to enjoy it while it lasts, since the intraday bottom closely coincided with a Hidden Pivot target at 3.952%. The actual low was 3.956%, which was near enough to consider
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