Today’s commentary speculates that Apple will make its low for the week this morning or Tuesday if earnings due out later in the week are to be strong. Although I am unable to detail in advance a low-risk strategy for buying a sometimes wildly volatile, $600 stock based on this premise, I can at least suggest leveraging the 605.56 target of the pattern shown if possible. A feint lower, but not too much lower, seems like a logical way for DaBoyz to start the week if they are intent on moving the stock higher into Thursday’s earnings report. If you are able to get long using 605.56 and camouflage, please let me know in the chat room so that I can provide tracking guidance. This won’t be easy under any circumstances, so kudos in advance to anyone who is able to nail the trade. _______ UPDATE (10:40 a.m. EDT): AAPL has risen sharply from the get-go this morning, providing few enticing handholds, camouflage or otherwise. On the 1-minute chart, the first available buy signal was tripped at 615.63 (A=609.62, B=6161.14 and C=614.00 — all single-bar coordinates), but it held $1.64 of entry risk per round lot and therefore no special appeal. In retrospect, the best way to have used the ‘x’ trigger was to have initiated the trade with a ‘timed’ buy-stop. Buyers who did so would have been subjected to no test of nerves, since AAPL hit the trigger and never looked back. Most immediately, the bounce is targeted on 629.58, a ‘d’ rally target tied to a midpoint pivot at 623.94 that lies a nickel from this morning’s so-far high. Because the ‘midpoint effect’ is so precise here, any rally that breaches 623.94 decisively is likely to go precisely to 629.58 and then stall. _______ UPDATE (3:38 p.m. EDT): The power of Apple’s rebound today is unambiguous, especially now that the stock has punched through the 629.58 target by $1.75. The move currently targets 632.00 short-term — 67 cents cents above the current high, 631.33.
Comments on this entry are closed.
Click here for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge
Tuesday, June 13, 2017
The consistent 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, June 13. Click below to register or get more information.
Nothing Like a Little Hubris to Punch Up Stocks
Exploiting the Exploiters
Traders Jump on Bet that LePen Will Lose
Will NYSE Ever Pay Tribute to Its Best Friend, the Permabear?
A Stake Through the Heart of the Fed’s Phony-Baloney Inflation Story?
What Comes Next for Gold and Silver?
Don’t Be Lulled by ‘Quiet’ Sunday Evening
Gold’s Surge Has Dramatically Improved the Look of Its Charts
A Reality Check for Wall Street?