Using a 100.51 stop-loss, we covered a round-lot short whose adjusted cost basis was 101.68. The trade would have produced a gain of about $117 for anyone who followed my instructions exactly. The fact that the Diamonds got nowhere near their target on the correction suggests they are eager to run. Going forward, bulls should use a 101.82 target to manage risk on the way up, and bears can short there aggressively with a stop-loss as tight as they deem prudent.
Trading Newsletter for Gold, Silver, Stocks and Mini Indexes
About Rick’s Picks
Rick's Picks publishes stock, commodity, and mini-index trading recommendations and forecasts based on a proprietary technical analysis method that took more than ten years to develop and hone. Get a free trial of Rick's Picks and see for yourself why Rick has such a dedicated, worldwide following of active traders.
-
Hidden Pivot Method Online Training
The next Hidden Pivot Seminar will be held Feb. 29th - Mar. 1st.. This two-day online event will teach you Rick Ackerman's risk-averse Hidden Pivot Method. Once you have learned his proprietary secrets, you will approach trading and investing with enough confidence to make your own decisions without having to rely on the advice of others.
Register before 2/17 and save $50. Use coupon code: 7D5629.
Read what a recent grad had to say. Additional questions? See our Hidden Pivot Seminar FAQ. -
-
Follow Rick’s Picks Via
Comments on this entry are closed.