-- Posted Friday, 18 May 2007 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Friday, May 18, 2007
“Phenomenally accurate forecasts”
The Indoos sputtered out yesterday a tad shy of a promising Hidden Pivot target at 13538. A sign of perilous fatigue? Hard to say at the moment, but if the blue chip average kisses that number as the week draws to a close, we’d be mighty tempted to take a short position over the weekend.
Although the Dow finished off 11 points, the blue chip average was actually up 30 points until fairly late in the day. Considering crude oil prices were in the throes of one of their sharpest one-day gains in years, the stock market’s resilience was mildly impressive. But if Wall Street can shrug off the ongoing real estate collapse and a by-now more-than-faint whiff of recession in the retail sector, as it has been doing, then it sure as heck can contrive to ignore the threat of $5 gas and $50 airline fuel surcharges by Labor Day.
Perhaps investors are looking on the bright side – i.e., envisioning a summer when fewer RVs will be cluttering the roads. They should come to Colorado, where half the miles are downhill. Find an 18-wheeler to draft on the climbing segments and you can squeeze Prius-like fuel economy from a Hummer. Better yet, use your AAA card to get a free tow up to the Continental Divide, then you can coast practically to Utah.
Crossing the Divide, the Colorado road that takes one from the city of Estes Park into Rocky Mountain National Park – Trail Ridge Road – is the highest paved highway in America. With its hairpin turns and spectacular, moose-filled views of the valley far below, driving this stretch can be quite a thrill, especially for someone like me who was raised at sea level in New Jersey. The highest spot in the city where I grew up, Margate, was Jackie Lewis’s driveway. A great place to go sledding – until you’ve tried it in Colorado.
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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 Friday, 18 May 2007 | Digg This Article | Source: GoldSeek.com
