-- Posted Wednesday, 17 December 2008 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Wednesday, December 17, 2008
“Phenomenally accurate forecasts
Gold, stocks and T-Bond futures are closing fast on targets we’ve been drum-rolling in Rick’s Picks for the last couple of weeks. The targets could be reached more or less simultaneously, and although we won’t pretend to know what this apparent synchronicity portends, it could conceivably mark a turning point for major trends that have progressed since mid-July, when the dollar began a powerful bear rally.
Our forecasts are very specific, some down to two decimal places, and include an advisory sent out Monday night that called for a 540-point rally in the E-Mini Dow futures. We warned bears to be wary of an ambush with this note: “A dispassionate reading of the Mini-Dow's daily chart suggests that a 500-point rally could be imminent. We'll look for corroborating evidence in the lesser charts this morning, but there is already reason enough to be cautious about shorting into a seemingly weak rally of 50-100 points.” The heads-up proved timely, since, by day’s end, with a 310-point surge, the futures had covered 60% of the distance to a 9141 target we’d furnished in the Trading Touts section.
Join Us Thursday Morning
In the meantime, Gold futures have been steaming toward their own Hidden Pivot target not far below $900, while March T-Bonds have traced out a spectacular parabola pointing to a potential blow-off that could be reached as early as today. Because the penetration of a Hidden pivot usually means that the trend itself is likely to continue, we’ll be watching closely to see how gold, bond and Mini-Index futures interact with our numbers. If you are not a subscriber and would like to know the exact targets, you can get a one-day pass to the paid-subscriber pages by clicking here. And if you’d like to know more about the Hidden Pivot Method itself, join us for a free webinar Thursday morning at 11:00 EST. Using “live” TradeStation charts, Rick will demonstrate how he identifies low-risk trading opportunities in E-Mini futures in real time. If you're a day- or swing-trader, expect to come out of this session with immediately actionable ideas. Click here to register for the session.
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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. Trading in futures and options contract can be extremely risky, and it is possible to lose your shirt before you even realize what has hit you. For that reason, you should consult with your broker as to your suitability to such trading before you attempt it. 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 Wednesday, 17 December 2008 | Digg This Article | Source: GoldSeek.com
