-- Posted Tuesday, 24 October 2006 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Tuesday, October 24, 2006
“Phenomenally accurate forecasts”
We’ve been monitoring Gold’s vital signs very closely lately, since that may be the only way an investor could hope to jump back in without fear of getting maimed. Although my intermediate-term forecast calls for a potentially important low at $513, we remain open to the possibility that the turn could occur from higher levels. Right around here, perhaps? Maybe.
If so, according to the Hidden Pivot Method, the subtlest corroborating sign we could detect would manifest itself first on the lesser intraday charts such as the one show below. In theory, if a significant bullish trend is about to develop, it will be telegraphed by a growing failure of corrective patterns in all time frames to reach their downside targets.
For instance, in the chart we see that December Gold bounced yesterday from within a single tick of a “midpoint” Hidden Pivot target at 583.10. This is a tentatively bullish sign, and for all we knew at the close on Monday, it could prove to be the lowest print we’ll see in Gold for the next ten years. But we probably won’t have to wait very long to find out, since any slippage below the midpoint Hidden Pivot at 583.10 would strongly imply that its fully-extended, “sibling” target at 560.30 eventually will be reached. It is exactly this type of analysis that is featured every day on the inside pages of Rick’s Picks and which underlies the real-time trading strategies aired in the chat room.
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Free Hidden Pivot Calculator
I’ll be in Vancouver this weekend teaching the Hidden Pivot Method, but there are still some places left at the two that remain -- in San Francisco on November 11-12; and in Sydney, Australia on December 2-3. You can request a registration form and further details by clicking here. Please specify which session you are interested in. If you act now, there is still a chance to claim a free Hidden-Pivot calculator and one of our snazzy Rick’s Picks combed-cotton polo shirts in your choice of colors.
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Information and commentary contained herein comes from sources believed 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 Tuesday, 24 October 2006 | Digg This Article | Source: GoldSeek.com
