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September 8, 2017 | Bullion Good Guys Finally Win a Round

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

Gold appears, finally, to be breaking out. I’ve noted certain technical details concerning this below, but without getting too deeply immersed in them, I’ll say that the longer-term charts are now projecting upside to at least 1474, about $117 above the current price.  It will take a little more than that, however — specifically, a print at 1514.40, basis the December Comex contract – to rock bears (and bullion bankers, who love to short the stuff) back on their heels, but at least the good guys can now dream about this without seeming pathetic.

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September 8th, 2017

Posted In: Rick's Picks

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