Recent touts for this stock have been quite bearish, but we should nonetheless be prepared for a tradable bounce from the 650.69 midpoint Hidden Pivot shown. [Please note that this number has been adjusted upward to correct a Tradestation glitch.] If the rebound is strong, it could imply that Google will be among those companies that will find a way to make money during the hard of times that lie ahead. For now, though, we'll infer that the stock is likely to fall to at least 650.69. I've set a screen alert and will furnish detailed advice for bottom-fishing in the chat room if the opportunity should arise. _______ UPDATE (4:05 p.m. EST): Google has plummeted nearly $16 today, to a so far low of 651.23. Any 'camo' buying opportunities will be found at the right-hand edge of the one-minute chart. I'd wait for a low within 0.20 cents of the target before you start looking, however, since, even using the one-minute bars, a 'bad' entry signal could cost you perhaps 20-30 cents per round lot. We risk missing the trade by waiting for an exact hit at the target, but there will always be other opportunities. _______ UPDATE (10:18 a.m.): The 650.69 midpoint pivot where I'd projected a potentially important bottom has caught this morning's low within 39 cents. If anyone bought down there, please let me know in the chat room or via e-mail so that I can establish a tracking position for your further guidance. So far, even on the one-minute chart, there have been no 'camo' entry signals, but that looks like it's about to change. _______ UPDATE (10:24 a.m.) I've heard from two buyers so far, with 'Dinger' reporting a so-far worst-case buy at 650.75. He has covered half at 656.12. I'll recommend exiting the
Thursday, November 8, 2012
Possible Shorting Opportunity in the E-Mini
– Posted in: Free Rick's PicksNight owls may get a good opportunity to short the E-Mini S&Ps, since its weak bounce from yesterday's lows was approaching an important Hidden Pivot midpoint. Check out the tout and the accompanying chart for further details. (And click here for a free trial subscription that will allow you to follow this gambit in real time.)
ESZ12 – December E-Mini S&P (Last:1380.25)
– Posted in: Current Touts Free Rick's PicksI'd say odds are slim to none that the futures will avoid falling to the 1364.50 target disseminated via yesterday's update. This could spell opportunity for us, however, since, as I made clear during yesterday's tutorial session, the bounce from the 1384.00 will be shortable near the p midpoint -- now resistance -- at 1399.25. If and when it's reached, I'll suggest initiating the trade using camouflage on perhaps the one- or three-minute chart. ______ UPDATE (2:41 p.m. EST): This one was a dead-center bullseye, since the high of the bounce from Wednesday's 1384.00 low was 1399.75. Some chat-roomers reported having gotten short, so the value of the midpoint was not merely hypothetical. For your further guidance, I am establishing a tracking position of two contracts remaining from an original position of four. If you take profits on half of the initial four here, near 1380.00 it will yield an effective cost basis of 1418.00 for the two contracts that will remain. For now, tie them to an impulse-leg stop of hourly degree. This implies exiting on a rally that is unpaused between two 'external' peaks at, respectively, 1397.50 and 1399.75.
Bold, Precise Forecasts
– Posted in: Free TutorialsThe election will have enormous consequences for investors. From a technical perspective, and to put it mildly, it doesn’t look good for the broad averages. However, a detailed technical look at some popular stocks during this one-hour session revealed that there will be bullish opportunities nonetheless in certain stocks, including Facebook, Priceline and Amazon. Gold futures, meanwhile, look like they will meander sideways at best. If you’re looking for forecasts that are bold and precise, I invite you to review this post-election look at the markets using Hidden Pivot Analysis.
