Rick Ackerman’s Technical Forecasts – Thu 27 Feb, 2014

Thursday and we have a someone optimistic Rick Ackerman

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Featuring:
Cory FleckRick AckermanAl Korelin

Comments:
  1. On February 27, 2014 at 12:58 pm,
    Matthew says:

    Good to know that Rick also thinks we’re in a bull market.

  2. On February 27, 2014 at 1:12 pm,
    James (the lesserr) says:

    Would it help if I thought we were in a bull market? Just kidding…

  3. On February 27, 2014 at 1:18 pm,
    James (the lesserr) says:

    Honestly I believe until otherwise we are still in a bear market.

    What would it take me to change my mind?

    I think these levels need to be taken back:
    $1340
    $1400
    $1500
    $1550

    For me I need to see more.
    If I’m wrong fine. I haven’t sold any gold. I even added some.

    So I would love to be wrong.

    I’m not convinced or persuaded of anything until the price tells me

    • On February 28, 2014 at 5:03 am,
      Bobby says:

      that is the difference between a realist and a promoter.

      • On February 28, 2014 at 8:46 am,
        Matthew says:

        Nonsense. A realist is rational. James does what most people do; he becomes bullish when the price is going up, and bearish when it’s going down. He was a “promoter” himself when he said to buy bitcoin and stocks at their highs. Now, based only on price, he’s promoting his bearish view of gold. Like most, he runs on emotion, not analysis. There are reasons Rick and myself think this is a bull market and those reasons do not include hope or wishful thinking. The price action, sentiment, and other considerations convey information that price alone cannot.

        • On March 2, 2014 at 5:35 am,
          Shad says:

          Agreed Matthew. It’s easy to point out the obvious present, but it is the contrarian investor that analyzes technical information, fundamental information, and most importantly changes in sentiment indicators to predict a move. While I agree with most of the people on this site that gold/silver and the stocks will do the PDAC pullback in March, I don’t think it will be terrible. After that I expect a positive bull impulse leg in April/May all the way through October. the 1340 and probably the 1400 mark should be taken out by years end. I am not sure we’ll get to the 1500 to 1550 before year’s end, but feel in 2015 this is very likely.

  4. On February 27, 2014 at 1:45 pm,
    SEB says:

    Ballin…lol
    Told ya pull backs will be shallow and be bought and no bigger then $20
    Keep thinking James we’re in bear market. You will buy this at $1500 and then the correction will rape you. BUY LOW SELL HIGH. I already screwed up by not getting 100% at 1180 but hey i’m not perfect hahahah. Don’t fight gurus like Sprott and Sinclair. Me and you are pawn. They’re godfathers. See ya all at 1500 in April. Just sayin

    If market throws me one more suprise i have one final move i can make to positions myself even better so no can cause harm to Seb

  5. On February 27, 2014 at 2:57 pm,
    SEB says:

    As gold rises steadily higher, it “refuses to have a correction”. That’s making some investors nervous. Gold is the greatest investment asset in the world, so it’s important to stay focused on the big picture.
    Gold market technicians should be open to the possibility that in the bigger picture, this rally has only just started.
    Many of PM investors are likely to sell on a rally back to the $1500 area, to cut the huge losses they sustained in 2013. They are highly confused, and suffering from immense drawdowns. This fact defines them as weak-handed investors. When weak hands book losses, whether it is on a rally or a decline, that’s bullish.
    When weak-handed investors are looking to bail on a market, that market tends to move much higher, and the Dow moved relentlessly higher during the 2003 – 2007 period. I think a similar situation may be at hand now, in the gold market.

    • On February 27, 2014 at 6:53 pm,
      SD Marc says:

      SEB…that would be great!

  6. On February 27, 2014 at 6:52 pm,
    SD Marc says:

    CORY,
    Pretty sharp picture. That is a good picture….it matches your intelligence and professionalism with respect to being Al’s sidekick!