The E-Mini S&Ps are barely higher in night trading, suggesting that DaBoyz have things very tightly under control. Night owls should buy any dip that comes along, preferably off a Hidden Pivot pattern, but the time might be more enjoyably spent betting on whether DaBoyz will be able to summon the chutzpah required to pull the futures briefly into negative territory during the long night.
COMMENTARY for Tuesday
TODAY'S ACTION for Tuesday
Rick's Picks for Tuesday
Bears shouldn't get their hopes too high over this, but it is a fact that yesterday's short-squeeze failed to clear a series of peaks along the "wall" of last week's decline. This hints that the buying was too gutless to take on any more than the low hurdles posed by a couple of modest highs made on Thursday and Friday. A bullying rally is what it was...
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Fear that Goldman's psychotic spree could hit $160 seems to have pervaded the chat room on Monday, so perhaps the stock is actually close to a top. Or maybe not. From a Hidden Pivot perspective, _____ is undeniably possible, although it would require yet more of the sort of elongated ...
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An hour-long bounce yesterday from a Hidden Pivot at 918.10 that I flagged in the chat room ended ignominiously with a relapse to 915.20. This implies the futures will now fall to at least _____, a Hidden Pivot that you can bottom-fish with ...
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No, you're not imagining it: Google has conspicuously lagged the financial stocks in the current mania and is even starting to look a bit heavy on the daily chart. We hold a very modest short position in the form of a single _____ put, so we should be cheered ...
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Rick’s Picks is a daily trading newsletter and intraday advisory packed with detailed strategies, fresh ideas and plain old horse sense.
Rick Ackerman is the editor of Rick’s Picks and a partner in 
Take the Odds Against Banks
by Rick Ackerman on May 19, 2009 1:48 am GMT · 3 comments
The bear rally that wouldn’t die frolicked once again yesterday, leaving shorts badly bloodied and hanging from the ropes. The Dow Industrials, for one, opened sharply higher on a 100-point gap, then just kept going with only tepid pullbacks along the way. The buying spree had been telegraphed the night before when the E-mini index futures appeared to struggle to reach a minor pullback target off Friday’s highs. Because of this, » Read the full article