The midpoint support of the pattern shown has yet to be breached, but if and when that occurs it will open the sluice gates for a selloff equivalent to about 330 Dow points. We won’t speculate by jumping on put options immediately, since no one ever got rich buying puts based on bearish hunches. Instead, we can wait for a rally and try to short the top by buying puts when a Hidden Pivot target is reached. Stay close to the chat room, or sign up for intraday alerts on your Account page, if you want to be notified of any such opportunities. For now, though, we’ll wait and see whether the 149.55 midpoint pivot holds. _______ UPDATE (June 14, 2:12 a.m. EDT): The turn came from 149.48 — within just 0.07 points of the pivot — so we’ll consider it unbreached. From that point forward, and for the remainder of the day, nearly every uptrending abc pattern generated an ‘x’ entry point that would not have gotten stopped out (see inset, a fresh chart). Under the circumstances, we should trade with the flow here rather than get aggressively in its way.
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)
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
Doug Behnfield’s ‘Thoughts on the News’