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From the monthly archives:
December 2011
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We already know the bad news — that the futures appear likely to fall to at least 1459.40, or to 1424.80 if any lower — so let’s shift our focus to some bullish alternatives just to keep an open mind. For starters, the good guys could retake control of the 30-minute chart with a thrust over the next 2-3 days exceeding 1635.20, a small peak made Wednesday on the way down. However, a more subtle signal — view it as an early alert — would be generated with a print today at 1590.20. Depending on how the rally from Thursday afternoon’s low plays out, a pullback from just above that number could create a low-risk entry spot for camouflageurs. I’ve sketched out this possibility on the accompanying chart. _______ UPDATE (3:45 a.m. EST): A pattern much like the one I sketched — with single-bar coordinates at points A and C — tripped an entry signal at 1588.20 at around 12:20 a.m. (A=1585.60 at 10:30 p.m., B=1592.10, and C=1586.50). Half of a four-contract position would have been exited at the 1589.80 midpoint of the pattern, and a third contract at 1593.00, the D target of the pattern. Imputing theoretical gains of 6.40 to the contract that remains yields an effective cost basis of 1581.80. For now, use a stop-loss at 1579.70, a few ticks below the ‘d’ target of a minor, corrective ABC that was playing out at around 3:45 a.m. If the futures turn and go higher without triggering the stop, use a 3.20-trailing stop above 1601.00. We’re not swinging for the fence on this one, but we are going for extra bases. _______ EXIT UPDATE 11:05 a.m. EST): The futures spiked to a high of 1603.50 at 7:35 a.m., and so we exited at 1599.50 when they detumesced. The selloff came all the way down to 1585.10, so we save ourselves a pretty penny by heeding the stop. Our theoretical gain on this trade was $1770. The futures have been unable since to surpass the 1603.50 peak, but they are working on a bullish impulse leg nonetheless with potential to as high as 1604.40 (5-min, A=1585.10 at 9:40 a.m., B=1599.90). So far, the C-D segment has stalled at 1596.30, 0.70 from the 1597.00 midpoint resistance associated with 1604.
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We doted on the 1198.00 target during yesterday’s tutorial session, licking our chops at the prospect of getting in at a trampoline bottom. Alas, fatigued sellers were unable to push this pup any lower than 1202.50. The downside target is still valid, as is another less promising one at 1199.75, but bottom-fishing is recommended only for those who are camouflage-equipped. If you’re not but desperate to do something, anything, you can try bidding 1195.25 with a 1.00-point stop-loss. That’s the lowest target I can extrapolate from the 15-minute chart (see inset). _______ UPDATE (9:17 a.m. EST): I’m establishing a tracking position, since the 1198.00 target nailed the exact low of this so-far 20-point rally. Also, a couple of chat-roomers who work the graveyard shift evidently initiated positions at the low. Assuming four contracts purchased, cash out half of them here for around 1218.00. That will give us an effective cost basis of 1178.00 for the two contracts that remain. Tie them to a 1205.75 stop-loss for now, o-c-o with an order to sell one contract at 1226.00. Hitting the low to the exact tick was a simple parlor trick that you can learn in a month. Click here if you think you’re ready to try.
Watch Three Recruits as They Learn How to Trade
by Rick Ackerman on December 16, 2011 3:14 am GMT · 6 comments
[Our recent offer of three $1000 scholarships to the January 11-12 Hidden Pivot Webinar brought a deluge of applications – more than 100 so far. The deadline was originally set for December 29, but we’re moving it forward to this Sunday, 11:59 p.m. so that we can provide a decision to you as soon as possible. Click here to nominate yourself or anyone else whom you think could benefit from the intensive, individualized mentoring that will be given to the scholarship winners. One recent graduate of the Hidden Pivot Webinar had this to say: “I will never look at charts the same way again. I have made back the cost of the course many times over both from trades taken, and just as important, from trades I stayed away from.”
For those who have already taken the course or who plan to take it, there are some significant benefits. Read about them below in the message from my wife, Marilyn, who is administering this first-time-ever offer. RA]
Attention all Hidden Pivot Webinar graduates! We have some special benefits for you coming up in January. As you may know, Rick has offered our first-ever scholarships for three seats in the January 11-12 webinar. His goal is to take three unlikely candidates and turn them into traders. How is he going to do that? And, what’s in it for you? For the next three months, Rick will be taking these three students through a thorough program to turn them into traders. This will include weekly online sessions with the students and special classes devoted to helping them achieve mastery of the Hidden Pivot Method. You can sit in on these interactive sessions, too. You will be able to refresh your knowledge and skill-set and get even more real-time guidance – directly from Rick – while he is showing the students the ropes.
What do you have to do to qualify?
The only requirements to attend these sessions are that: 1) you must have already taken the Hidden Pivot webinar or registered for the January 11-12 class; and 2) you must be a current subscriber to the weekly real-time tutorials held on Wednesday mornings (and recorded for viewing at your convenience). If you need to renew or restart your subscription to the Wednesday Real Time Tutorials, simply log in to your account page at www.rickackerman.com and add that product to your subscription. » Read the full article