THE MORNING LINE
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Although we featured pithy weekly commentaries in this space for many years, the time and effort spent crafting them is now devoted to making the Rick’s Picks Trading Room an unbeatable source of timely trading ideas for novices and professionals. You should check here weekly, since I will continue to post links to my latest interviews and to offer visual enticements designed to entertain, amuse and enlighten you. Much of it will come from YouTube, since their video catalog is endlessly fascinating. Submissions, including home videos, are welcome and should be sent to this address. To get things rolling, click here for an unbelievable drum solo that demonstrates why the late Buddy Rich would never have worried about being replaced by a synthesizer. The headline is the title of one of his many albums.
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The analytical ‘touts’ below, overhauled each Sunday and updated 24/7, will continue as always, as will their barbed emphasis on the similarities between Wall Street and sleazy carnival midways. The remarkable accuracy of our trend calls and price targets is a matter of daily record and must be observed up close to be believed. Sign up for a free trial with access to all site amenities by clicking here (no credit card needed). Then click here for my most recent interview with Howe Street’s Jim Goddard. We talk about the Information Age and whether there is enough value in manipulating data to keep America prosperous and to support grotesquely bloated asset prices.
Rick's Free Picks
$CLU26 – September Crude (Last:86.80)
Trading in NYMEX Crude won’t start for another hour, so I’ve had to imagine a pattern to predict how things might turn out. It is a foregone conclusion that quotes will open significantly lower, since Trump, as fully expected, has announced on a Sunday yet another ceasefire. This dog-and-pony show
$ESU26 – September E-Mini S&P (Last:7503.50)
Although DaBoyz could easily short-squeeze this gas-bag to new record highs with just a dollop of fake good news, I’ve presented a chart that is somewhat bearish. The 7266.00 target lies just 3.5% below, and even though the tedious struggle between bulls and bears has yet to achieve it after
$GDXJ – Junior Gold Miner ETF (Last:95.39)
I gave GDXJ the benefit of the doubt when last week ended, but all it did was add to the disappointment we’ve felt waiting and waiting…and waiting for gold to show a pulse. I set a low bar, and GDXJ didn’t have to do much to turn the intraday charts
TNX.X – Ten-Year Note Rate (Last:4.68%)
We’ve been using 4.82% as a minimum upside projection, but it’s time to shift the target to the 5.09% Hidden Pivot shown in the chart (see inset). The erratic ascent of long-term rates has been making headlines lately, but Rick’s Picks subscribers have been expecting them to hit 5% for
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