If this stock’s wilding spree yesterday felt exhilarating, take a look at the big-picture chart to see it in a more sobering perspective. A dead-cat bounce? That’s what it looks like so far, and although it’s always possible that bulls will run with it this time, our expectation is still for lower prices in the post-Jobs era. Specifically, a 394.93 target still obtains, with a possible bounce from 405.71 on the way down. In the meantime, we are still encouraging camouflageurs to attempt shorting the stock if this bounce reaches the 445.25 midpoint pivot associated with D=405.71. Whether you trade it or not, the pivot is a logical place for this spree to end. ______ UPDATE (March 18, 1:00 p.m. EDT): With the broad averages on a wilding spree, DaBoyz obviously have more ambitious things in mind for Apple than I’d imagined. Today’s short-squeeze has not only exceeded the 445.25 midpoint resistance, it has created a bullish impulse leg on the daily chart. That mean that any pullback is a ‘buy’. It will be an ideal camouflage opportunity if the pullback occurs without AAPL’s having exceeded the marquee high at 455.12 (see new chart). _______ UPDATE (March 21): The stock gapped w-a-a-a-y above 455.12 on a short-squeeze opening, mooting our camouflage strategy. For now, do nothing further. _______ UPDATE (April 17): The short-squeeze crapped out in late March at $470, leaving Apple vulnerable to forces that still augur an important low at or very near the 394.93 Hidden Pivot target given above. Today’s so-far low, on a $28 selloff, is 398.11. If using camouflage, you can back up the truck near 394.93.
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, November 28, 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, November 28. Click below to register or get more information.
Expect a Bumpy Ride for Remainder of 2017
‘Fly-or-Die’ Jeopardy in Effect
Are the Big Guys Tapped Out?
Bored? Be Careful What You Wish for…
Fed Hoping for ‘Bad’ Inflation News
Selloff Left FAANG Charts Unfazed
If Hillary Had Won, the Dow Would Still Be Trading Above 23,000
Dragging Four Defenders a Few Extra Yards
Crude-Price Gusher Is Answered Prayers for Banksters and Wall Street
A Cautious Regard for Wall Street’s Animal Spirits