The Diamonds should start plummeting toward a Hidden Pivot target at 93.50 any day now. Although I’d rather try to get short into an upswing, we should make a very small bet today so that we won’t need to feign indifference if the plunge commences without warning. Accordingly, I’ll recommend bidding 2.75 for a single July 96 put. That’s about what they might sell for if the Diamonds have to catch up to the E-Mini futures at their Monday-night levels (i.e., up about six points). _______ UPDATE (3:30 a.m. EDT): The E-Mini S&P has been up as much as 13 points tonight, so let’s bring our bid for the puts down to 2.15.
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.