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. If you’ve been waiting for the black swan to arrive, it could be right under your nose.
Rick's Free Picks
$CLM26 – June Crude (Last:95.42)
In my last weekly commentary, I drum-rolled a 128.19 target that seemed to grow increasingly remote as the futures descended last week to an apparent low at 88.66. However, a potentially robust turnaround was signaled the next day when the June contract bounced, triggering a theoretical ‘buy’ at 96.65. It
$TNX.X – Ten-Year Note Rate (Last:4.36%)
The two-month-long ascent of rates on the Ten-Year Note did an apparent death rattle last week with a run-up to 4.46%. That fell slightly shy of the 4.48% peak recorded at the end of March. I still think the peak will endure, at least for the foreseeable future. This outlook
$SIN26 – July Silver (Last:80.865)
With strong back-to-back rallies on Wednesday and Thursday, the futures made significant progress last week toward the 93.995 target shown. Although we were able to get long in Gold using a similar pattern, July Silver’s recent dip did not quite reach the green line (x=69.744) to signal a ‘mechanical’ buy.
$CLM26 – June Crude (Last:101.94)
Last week’s impalement of the red line, a midpoint Hidden Pivot resistance at 103.58, is bad news for the geopolitical and economic world, since it implies June Crude will reach a minimum 128.19. Although the feeble point ‘A’ leaves a lot to be desired as a starting point for the
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