Will gas at the pump leap above $4 with crude oil futures falling hard? It's certainly not out of the question, since crude is the second-largest criminally rigged market in the world, a few lengths behind Treasurys. We can gambol in this market nonetheless, since the carny midway price action is itself a captive of Hidden Pivot forces that are easy for us to recognize and to leverage. Accordingly, I'll suggest bottom-fishing at the 87.87 target shown. A straight bid in this particular vehicle requires a stop-loss of at least 21 cents, but if you use a camo entry signal on the one-minute chart, you should be able to cut that down to as little as 3-4 cents. ______ UPDATE (March 5, 8:30 p.m. EST): Those of you who shorted the little sonofabitch on the assumption that my 87.87 target guaranteed safe passage are learning the hard way that a compelling target does not necessarily ensure an easy profit. The hourly chart is in fact bullish at the moment and points to at least 91.52, assuming the 91.04 midpoint resistance is conquered (60m, A=90.02 at 1:00 p.m. on March 5). If you want to try shorting there, I'd suggest doing it via 'camouflage' on the one-minute chart.______ UPDATE (March 11, 2:33 a.m. EST): We'll put this gambit aside, since crude's tortured ascent in recent days has brought annoyance, not opportunity.
Monday, March 4, 2013
PCLN – Priceline (Last:695.80)
– Posted in: Current Touts Free Rick's PicksPriceline has validated an 889.62 bull-market target with a nearly precise hit at its midpoint sibling, 721.52. The actual high, on January 28, was 721.96 -- just 44 cents from our Hidden Pivot. Although we can't predict for certain whether the stock will get past the pivot, if PCLN does so decisively, the stock would become an odds-on bet to reach 889.62, which lies about 21.7% above current levels.
Midnight Auto
– Posted in: Free Rick's PicksDaBoyz were in command late Sunday night, pulling index futures moderately lower, presumably in order to exhaust sellers and set up a short-squeeze opening Monday morning. For trading suggestions, check out today's E-Mini S&P tout and the chart that accompanies it. Also, if you want to know how much higher market-gorilla Priceline.com can go, see my tout for a big surprise.
ESH13 – March E-Mini S&P (Last:1515.50)
– Posted in: Current Touts Free Rick's PicksThe dirtballs who work the night shift on Sundays tend almost without fail to fade small sell-offs and rallies. With the futures down about 5 points late Sunday night, the implication is that DaBoyz are depleting sellers in preparation for a short-squeeze opening on the usual vaporous volume Monday morning. This makes any rally in the first hour or so a short, but you should do so only via camouflage. I don't have a good midpoint resistance to help in this task, since Thursday's peak failed to impulse above Monday's on the hourly chart. However, a subjective rationale for getting short such as the one noted above should be good enough for government work. _______ UPDATE (10:46 a.m. EST): The futures did in fact hit their so-far intraday high 25 minutes into the session, and it fell exactly one tick from the 1516.75 target of (1-min) A=1511.50; B=1515.00; C=1513.25. However, unless you shorted the target itself with a microtight stop-loss, there was no way in via camouflage. If you’re curious about 'camouflage' trading and Hidden Pivot Analysis, click here for a free seven-day trial to Rick's Picks. It will allow you to go anywhere on the site, including the 24/7 chat room, and to receive intraday e-mail bulletins that contain real-time trading ideas.
GCJ13 – April Gold (Last:1577.70)
– Posted in: Current Touts Rick's PicksThe futures were up as much as $12 Sunday night, but I've reproduced a daily chart that shows how technically insignificant this flurry of buying was. A bigger picture shows gold still struggling for loft after last week's harrowing test of a long-term trendline. The lack of a bounce so far suggests the trendline is going to be re-tested soon, so we should be alert to any possible 'camo' buying opportunities that crop up. The trendline will come in at around 1567.00 this week, and any oscillations around that number should therefore be scrutinized for uptrending abc patterns that meet our entry criteria.
