Keep the 801.13 midpoint support shown in mind if you’re keen on bottom-fishing. Since it closely coincides with a structural low at 801.47 that is likely to draw some eyeballs, camouflage is essential. Because any slippage below 801.47 will be read by our competition as a breakdown, camouflage tactics are all but certain to yield an edge in helping us distinguish between a fake and a true breakdown. _______ UPDATE (9:35 p.m. EDT): The stock gapped $11 lower on the opening bar, to 801.50, then spent the rest of the day pounding on our 801.13 pivot without breaching it. The actual low was 801.33, but there was little point in carrying a long position overnight. With GOOG so precariously perched at the close, it’d be like rolling dice._______ UPDATE (March 31, 11:25 p.m. EDT): The stock fell over the edge on Thursday and now looks bound for the 781.02 ‘D’ target associated with our midpoint support. Because that would exceed February 26’s structural low at 784.40 (see inset, a new chart), possibly freaking out our competition, ‘D’ can be bought aggressively via camouflage or with a straight bid and a stop-loss as tight as 17 cents. _______ UPDATE (April 3, 2:37 a.m. EDT): We’ll back away for now, since yesterday’s short-squeeze iced our bargain-basement bid. The stock had gone no lower than 793.25. ______ UPDATE (April 5): Let’s try something else: Bottom-fish the 788.85 target shown (a new chart). Camouflage is the method of choice here, but if you’re feeling lazy, a 788.91 bid for 200 shares will suffice, stop 788.69. _______ UPDATE (12:02 p.m. EDT): The stock is in worse shape than we’d imagined, opening on a gap below 788.85, so we did nothing on the order. GOOG’s daily chart is now impulsively bearish and deserving of our close attention when it attempts a follow-through leg to the downside. When that happens, if it fails to get a nice bounce off the HP midpoint support, it would be the most negative sign we’ve seen in a long while.
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
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, September 27. Click below to register or get more information.
This 9-minute video explains Rick's trading and forcasting method.
Rick takes requests on ACAD,GDX,CXRX,SPX,FFMGF,FNV,GCQ6,SSPXFDNCVF,TLT,VVR and AG
(July 18, 2016)
A Downward Tug from Silver
Long Gold, Short S&Ps Is Where You’ll Want to Be
Where’s Yellen When You Need Her?
Fed Clowns Get Way Too Much Respect
How Long Can Crude, Shares Go Their Separate Ways?
Into Thin Air
Why Volatility Gets Crushed
Party On, America!
Lest Boredom Make Us Complacent…
With a Fed-less Week Ahead, Markets Will Be on Their Own