-- Posted Thursday, 25 January 2007 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Thursday, January 25, 2007
“Phenomenally accurate forecasts”
After-hours trading Wednesday evening was providing a breath of spring – Spring 2000, that is, for all who can recall the ominous, early rumblings of the dot-com bust. With the Nasdaq index leading the broad market higher, eBay is up nearly 7% at the moment, Netflix a tad more. And how about those ashen comets from the past, Rambus and Qualcomm. As of around 9:30 p.m., they were seeming to waft skyward, looking quite impressive to anyone unaware of the prodigious heights they’d achieved seven years ago, driven by the same lunatics who are pushing stocks into rare air right now. Actually, to be fair to the lunatics, the companies they are buying today at least have earnings to report. On the other hand, the U.S. economy was not in the throes of a deflationary housing bust back then.
What’s an investor to do? My short-term trading advice has not been exactly stellar lately, and stocks seem to be moving opposite my trade setups almost routinely. When I suggested bidding, for instance, for AAPL shares on a pullback, the stock opened on a gap higher. When I called for shorting IBM at 102.00, Big Blue collapsed from a high of…101.90. As for the mining stocks, it’s been a struggle to avoid having Rick’s Picks subscribers get whipsawed. There are so many goldbugs among you that I strive to speak kindly of bullion whenever kind words are technically warranted. But dive in head-first? It’s just not my style – unless of course the indicators positively scream “Buy now!!!” They don’t, but as the chart I produced here yesterday should have made clear, a bright green light in Gold is never more than a $20 rally away.
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London Seminar
A Hidden Pivot seminar in London appears likely, judging from the strong initial response. If you’re interested in attending a two-day class there, probably sometime in the spring of 2007, please let me know via e-mail, including your contact information. The cost would be $1,500 USD.
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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 Thursday, 25 January 2007 | Digg This Article | Source: GoldSeek.com
