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-- Posted Tuesday, 3 April 2007 | Digg This Article | Source: GoldSeek.com

Rick’s Picks

Tuesday, April 2, 2007

“Phenomenally accurate forecasts” 

Because Citigroup has been in the financial dog house lately, we look to the shares of Goldman Sachs Group for clues about the health and longevity of this bull market, now in its 24^th year. It stands to reason that a company so thoroughly entrenched in the smoke-and-mirrors business, not to mention extremely well-connected to people in high places, would outperform until the U.S. economy toppled over the edge.

They used to say that, as GM goes, so goes the business of America. That’s true enough if one is referring to the U.S. manufacturing sector alone. But manufacturing is no more the locus of the nation’s business these days than Atlantic City is “The World’s Playground.”

I bring this up because Goldman is nearing a very important number on its long-term chart (see above). We discuss this in greater detail on the Touts page of Rick’s Picks, but suffice it to say, a decisive signal concerning the relative health of the bull market could be no more than a week away. I could be wrong, but I doubt it, as will anyone else who has dabbled in the black arts of technical analysis. We’ll keep a close eye on this one, since it looks as though something is about to give.

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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 © 2007, Rick Ackerman. All Rights Reserved. www.rickackerman.com 

-- Posted Tuesday, 3 April 2007 | Digg This Article | Source: GoldSeek.com

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