Two weeks into Apple’s attempt to find a bottom, it has made barely any headway back into the devastating 50-point gap recorded on January 24. This is hardly the behavior of a stock that is raring to get back in the game. Nor was the $8 overshoot of the 443 target shown very encouraging (see inset). That’s why I’m sticking with the 394.93 target given here previously as my minimum downside objective. As noted here earlier, a rally to 494.59 is probably where this correction would max out, as well as a place where we should try shorting aggressively. Camouflageurs needn’t wait for this, however, since the 15-minute chart is providing opportunities almost daily to test the water without risking much. _______ UPDATE (February 13, 2:44 a.m. EST): Use the 461.84 target shown to bottom-fish 100 shares with a 461.69 stop-loss. If the order fill and the stock reverses to hit 465.00, switch to an impulsive stop-loss on the one-minute chart. This means you should exit the position if a bearish impulse leg is created on the one-minute. Please note that this update doesn’t change my earlier advice and outlook. _______ UPDATE: (February 19): The bounce occurred from 463.22, and so we did nothing. With the downtrend back in force, our focus should now be on the 394.93 target. Trade bearishly if at all. (Note: In the chat room, 2/20 at 14:19, I’ve posted coordinates that would have made shorting AAPL this morning as easy as shooting fish in barrel. One the one-minute chart (see inset), A=460.08 on 2/19 at 4:00 p.m. EST); B=455.80 on 2/20 at 9:30 a.m.; and C=456.50, for X=455.43. Note single-bar coordinates at all three ends.) _______ UPDATE (March 4, 2:01 a.m.): Apple continues to work its way south toward our 394.93 target. More immediately, be ready for a bounce from 405.71, a secondary target that comes from the weekly chart. (A=514.99 on 1/25; B=435.86 on 2/1). The p midpoint associated with D=405.71 is 445.27, so any rally to that number should be viewed as an excellent opportunity to get short via camouflage.
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, January 23, 2018
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, January 23. Click below to register or get more information.
Bitcoin Drama Obscures Ongoing Collapse of Market Volatility
Should We Trust Bitcoin?
Wall Street Ponzi Scheme’s Biggest Challenge
Bitcoin Mania’s ‘Secret Sauce’
Tax-Reform Hubris Reaches a Deafening Pitch
Eyes on AMZN and the E-Mini S&Ps!
Here’s How Mr. Market Might Set Up the Kill Shot
A FAANG Correction Worthy of the Name?
Do You Really Need to Ask If It’s a Speculative Bubble?