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Monday, September 28, 2009

The December contract will have a chance to turn from a minor midpoint support at 16.025, but if it doesn't, look for the slide to continue to at least 15.795, a Hidden Pivot you can bottom-fish with a stop-loss as tight as three ticks.  Both of those numbers are tied to minor patterns, but a larger […] Read More

Goldman has taken a nasty dive from a peak that fell more than $4 shy of a potentially important rally target we were focused on. No one ever said it would be easy to short the little sonofabitch, but we'll keep trying. Just so you know what the incentive is, if you'd bought some October […] Read More

There are too many enticing downside targets at the moment to pick just one, but they'd all become moot if the futures were to reverse from the least important of them, _____,  producing a bullish impulse leg on the lesser charts.  A tiny peak at _____ will serve just fine to tell us when this may have occurred.

We hold 200 shares with an adjusted cost basis of 16.73. Shorting some option premium against them on the last run-up might have been warranted, but having missed the opportunity, we can take encouragement from the fact that Friday's high slightly exceeded the look-to-the-left peak at 19.46 recorded on the way down a day earlier.

Gold's two setbacks this year have averaged about 12%, which would imply a pullback to around $940. Would that be so bad? In any event, my worst-case correction target for the near term is _____, predicated on a breach of that Hidden Pivot support's midpoint sibling at _____. Friday's low exceeded the midpoint by just one tick, so we should view it as still intact. As always, interaction with these pivots will be the key to gauging the strength of the downtrend.  Alternatively, we should set the bar at _____ to alert us to a decisive, bullish turn on the hourly chart. 

The Dollar Index on Friday ended the day with a bounce from the exact midpoint support of the pattern shown in the chart. It would need to rally today to at least _____ to suggest bulls are back in charge. At that point they would be presumed capable of propelling DXY to as high as _____. Key resistance on the way up would come at _____.

Fasting and prayer for Yom Kippur, the Jewish Day of Atonment, begin Sunday at dusk.  In observance, I will not be updating touts or commentary for Tuesday, although the chat room will be open as usual.  To those of you who observe Yom Kippur, may you have an easy fast […] Read More

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The laser-like 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, December 1. Click below to register or get more information.

October 21 Impromptu

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An Introduction to the Hidden Pivot Method

This 9-minute video explains Rick's trading and forcasting method.