Just a few more baby steps and the futures will succeed at something that has haunted the long-term picture since February. At that time, a sharp, four-month rally narrowly failed to get past a key peak at _____. If the current thrust tops _____, it will create a quite powerful bullish impulse leg on the weekly chart. And incidentally, if the rally fails to get past gold's all-time recovery high at _____ (basis the Comex December contract), it could conceivably create a camouflaged entry opportunity on the weekly chart. That would be rare indeed.
[We often feature the work of our friend and colleague Chuck Cohen, a NYC-based investment consultant who specializes in mining companies. Below, he explains why it is time for those who have been straddling the fence to buy junior gold shares. He concludes with two specific recommendations that trade over-the-counter for less than $1.] Rick has […] Read More
I posted some targets for this vehicle in the chat room the other day but missed one that could have immediate relevance: _____. Notice in the weekly chart how last week's high fell just 13 cents shy of the target. That's close enough, and the target has been long enough in coming, that we should be prepared for a significant pullback -- one lasting perhaps 2 to 3 weeks. If the pullback turns out to be small stuff, however, and GDX pushes above _____, we would infer it's headed for at least _____, the 'D' target that results when you slide down to the one-off low at 17.59 recorded last November.
There are no clear targets for the correction begun from 17.690 on Thursday, so a Hidden Pivot support at 16.810 will have to suffice. A bullish reversal on the hourly chart would be signaled at 17.405 […] Read More
The futures have spent two days in what looks to be a tortuous consolidation, but they don't look ready yet for another surge higher. If and when they resume their suicidal climb, there are no targets above that look like bet-the-farm shorts. However, the two that I find most compelling, both from the weekly chart, are _____ and _____. Pivoteers will notice that that the summer selloff was not sufficient to give us a legitimate B-C pullback, since it did not equal the required 0.618 of k-A.
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The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.
Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.
The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.
The next webinar will be held on Tuesday, March 7. Click below to register or get more information.
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Bull Trades in Gold, Silver and TLT
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Where Have All the Contrarians Gone?