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-- Posted Friday, 10 November 2006 | Digg This Article | Source: GoldSeek.com

Rick’s Picks

Friday, November 10, 2006

“Phenomenally accurate forecasts”

The Democrats got a somewhat churlish reception on Wall Street yesterday, suggesting there may not be much of a honeymoon in the wake of Tuesday’s sweeping political changes.  We were prepared for any outcome that would make stocks get a little crazy, but it’s too soon to tell whether it will be the calls we hold in IBM, or the QQQQ puts we bought as an offset, that will make next week’s option expiration interesting. Regardless, we’ll evidently have Gold to keep us happily engaged, since yesterday’s surge pushed the December contract well above the 630.60 Hidden Pivot threshold we were using as a bullish trigger.  Some Rick’s Picks subscribers appear to have gotten aboard near the lows, based on the following advice, which went out Wednesday evening:

“As noted in the chat room on Wednesday, the next minor down-leg could set up a good buying opportunity. Right now, I cannot say exactly at what price, but it can be calculated once the futures fall exactly $6.20 from whatever high they are in the process of making this evening or Thursday. For example, if the so-far high at 618.90 (as of 10:15 p.m. EST) endures, that would place the ‘buy’ at exactly 612.70; and if the futures rally to 621.00 before falling, that would yield a midpoint-pivot "buy" at 614.80.”

As it happened, the above prospectus nicely anticipated December Gold’s actual movements, as you can see in this snapshot of December Gold taken Wednesday evening:

***

Last Call, Australia!

There are still some seats left at the Hidden Pivot in Sydney on December 2-3, so please let me know asap if you’re interested in attending.  You can  request a registration form and further details by clicking here. 

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 Friday, 10 November 2006 | Digg This Article | Source: GoldSeek.com

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