A bearish target posted in the chat room yesterday morning caught the intraday low by two ticks, implying that the rise and fall of the broad averages is still more or less predictable despite hysterical volatility. A key clue — useful yesterday in bullion as well — came in the form of small rallies that had failed to exceed minor peaks impulsively. Today’s all-but-certain flatulence would encounter Hidden Pivot resistance at 1260.50 if stocks move higher, or at 1242.25 if lower. _______ UPDATE (2:28 p.m. EST): The expected flatulence, which took the familiar form of a do-si-do of gratuitous ups and downs, has topped so far at 1260.25, a single tick from the bullish target noted above. If you got short, cover half now and manage the rest catch-as-catch-can.
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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.
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