-- Posted Thursday, 24 April 2008 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Thursday, April 24, 2008
“Phenomenally accurate forecasts”
Is it just our imagination, or have the stock market and the election campaign been tracking pretty closely lately? One day, we read that Obama has clinched the nomination; the next, that his name is mud in Pennsylvania. He’s Mr. Clean in a Newsweek feature story, then he gets tarred-and-feathered four days later by the Chicago Tribune for his alleged ties to some sleazy local businessman. At more or less the same time, the stock market soars because “the worst is behind us;” then it tanks three days later because crude oil prices are out of control. Not a week later, it surges anew, supposedly because investors are thrilled when they discover that the big banks are reporting Q1 losses of no more than about $6 billion apiece.
How much more of this schizophrenia are we going to have to put up with? Will the stock market have to break out of its 2008 range before we have a clear winner in the Democratic primaries? Or, conversely, is an Obama victory in the upcoming North Carolina and Indiana ballots needed to send stocks soaring/plummeting decisively? If the picture doesn’t clear up before the Democratic National Convention in Denver this summer, we may be forced to take the gas pipe.
Meanwhile, whatever happens, it can’t happen too soon, since the tedium of the last few weeks seems to be driving Rick’s Picks chat-room denizens to the edge of madness. Try to imagine what your neighborhood would be like if nearly everyone in it spent six hours a day tracking the price movement of Comex Silver on a five-minute bar chart. A snippet of dialogue:
Harry: Say, Bob, it looks like that pear tree of yours survived another Colorado winter.
Bob: A=17.25, B=17.67, C=17.53, D=17.96.
Harry: What time-frame are you using?
Bob: Winter? Wasn’t that the time frame you asked about?
Harry: No, I was just talking about your tree and how it made it through winter. But now that you mention it, what was the midpoint pivot of that pattern?
Bob: 17.74, Harry, but that’s assuming you only wanted it to two decimal places?
Doc: I got 17.77 for ‘D’. Are my numbers correct?
Harry: I’m not sure what you did to come up with that, Doc, but your lawn looks like it could use an aeration.
Doc: Do you mean a new pattern, then?
Harry: Ask Rick. He’ll know.
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Free Pass to Rick’s Picks Chat Room
The Rick’s Picks chat room is the place to be if you’re looking for tradable ideas in real time. Gold and silver traders in particular can benefit, since the room attracts experienced traders from all over the world at all hours of the day, particularly during U.S. market hours. If you would like a free one-day pass to check it out, click here, and then on the green banner.
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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 © 2008, Rick Ackerman. All Rights Reserved. www.rickackerman.com
-- Posted Thursday, 24 April 2008 | Digg This Article | Source: GoldSeek.com
