(Click on chart to enlarge) Trades do not always work as precisely as the one in Citigroup did on Friday, when we shorted a spike opening three cents from the intraday high, then took profits on half the position on the nasty pullback that followed. The strategy we used is worth reviewing, since some crucial elements came together to help us beat a game that is rigged to allow Da Boyz to effectively fleece retail customers without breaking any laws. In coming out ahead despite the odds, we were competing not only against the dirtballs who dominate the options game (full disclosure: I was an options dealer myself for a dozen years), but with their arse-bandit mentors on the NYSE, specialists and firm traders who deftly manipulate stocks to their advantage for a living, particularly in the opening and closing minutes of the day. The rally target we were using was a Hidden Pivot at 53.72 that nearly precisely caught the acutal, panic-driven high at 53.75. Here is the recommendation exactly as it appeared in Friday's Touts section: (Click on text to enlarge) Initially, I doubted any subscribers could have bought the May 52.50 puts for 0.55, since only ten of the 4383 that changed hands on Friday were done at that price, the low of the day. However, one person in the Rick's Picks chat room said he'd bought them as directed, so I established a tracking position intraday, and recommended that half the position be covered for 0.70 at that time for a small gain. This reduced our cost basis for the remaining half of the position to 0.40, providing us a cushion that will endure as long as Citi does not pop above Friday's short squeeze-driven high. It may do exactly that, of course, but our risk at
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