-- Posted Thursday, 2 March 2006 | Digg This Article | Source: GoldSeek.com

Rick’s Picks

Thursday, March 2, 2006

For investors who’d rather be smart than lucky 

From a hidden-pivot standpoint, a relapse to exactly 345.35 seems as likely for Google as an early-March  snowstorm in North Dakota. Not that I would try to discourage anyone from thinking GOOG might at some point return to bargain levels. But it ain’t there yet, not as far as I’m concerned, and although the premier Web searchmeister’s capitalization has been shaved by nearly 30 percent since peaking in mid-January, I would caution against rushing in right now to re-acquire the stock for the long haul.

So what might this imply for the broad averages over the near term? While it’s hard to imagine GOOG taking such a hit without dragging down the indexes of which it is a component, the QQQs (for one) looked like no worse than an even bet to maintain altitude for at least the next day or two. Our best shot in any event may lie in the precious-metals sector. Bullion futures in particular have been moving nicely to-target, tracing out a recuperative pattern that we expect will reward gold bugs’ patience with new price highs yet again. We’ll look closely at possible opportunities in some of our favorites, including Newmont, Golden Star Resources, and Gold Fields Ltd., so stay tuned. 

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to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2006, Rick Ackerman. All Rights Reserved. www.rickackerman.com

-- Posted Thursday, 2 March 2006 | Digg This Article | Source: GoldSeek.com

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