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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.
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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
$+CLK26 – May Crude (Last:84.82)
Crude has pulled back sharply three times since its moon shot to 120 last March. The first two times, the subsequent rallies died precisely at their respective Hidden Pivot midpoints. If the third pullback to early July’s 67.04 low produces the same result, which is what I expect, the current
GCQ26 – August Gold (Last:4070.8)
I’ve set a high bar at 4403.70 to signal the possible end of a bear market that began in January, when the August contract hit a record 5700. Otherwise, we should expect the weakness to continue at least until the 3793.40 target shown in the inset is achieved. There are
TNX.X – Ten-Year Note Rate (Last:45.41)
The bull is taking its time consolidating for an upthrust to the 4.82% target shown in the chart. The process could include a dip to x=4.48% that would trigger a theoretical buy signal. Although we do not actually trade this vehicle, such a signal could be easily leveraged using TLT
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