THE MORNING LINE
Still Fishin’…
I’m taking an extended 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 on June 18. [Note: This link will change to present fresh material every other week.]
Rick's Free Picks
$MSFT – Microsoft (Last:372.97)
Friday’s vague crosscurrents allowed MSFT’s handlers to seize the advantage with a short-squeeze reversal that caught bears unawares. The bullish pattern shown gives this con-job wide berth, since DaBoyz can be expected to pull out all the stops to recoup the hundreds of billions of dollars’ worth of gaseous ‘wealth
$$TNX.X – 10-Year Note Rate (Last:4.37%)
The textbook-perfect pattern shown promises to deliver at least a temporary low at 4.35%, the D target shown. That would represent a 7% decrease in yields on the Ten-Year Note since they peaked at 4.69% on June 19. A weak bounce would open the door to even lower rates, with
ESU26 – September E-Mini S&P (Last:7462.50)
The futures spent the last two sessions head-butting a modest midpoint Hidden Pivot resistance at 7582. You might think the failure to break through was a sign of weakness, but the opposite is true. Considering that no one but Trump and Vance is impressed with the cease-fire plan, and that
MSFT – Microsoft (Last:379.05)
An unorthodox target I’d drawn near 380 failed to contain the selling, so I’ve switched to a conventional pattern that projects significantly lower, to 339.27. My expectations are bullish for the market as a whole when stocks start to trade on Sunday, and I don’t expect MSFT to go its
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