Night owls should check out Rick's Picks trading 'touts' after the regular-session close, since trading opportunities have been especially juicy at night compared to the lean pickings on days like yesterday, when the broad averages and most stocks screwed the pooch for six hours. One such trade offered Monday night, a bullish play in December Gold futures, would have produced an easy profit of up to $1300 if you'd followed my explicit instructions. Here they are, exactly as written: "The futures would trip a minor buy signal at 1158.90. The relevant pattern is shown in the chart, and although I can feel in my bones that an entry at that price will get you at least to the midpoint pivot at 1171.00, I’d strongly suggest nailing down a partial profit there so that you can still be holding a small long position without much risk." In the actual event, once the futures hit 1158.90 they continued up to 1172.50 before dropping back by $12. One more note for Wednesday: There are two developing opportunities we've been monitoring for a while -- in DIA and JNK (a, ETF proxy for junk bonds) -- that are nearly ripe for picking. If you don't subscribe and would like the tradable details, you can sample Rick's Picks free for two weeks by clicking here. This will give you access to all features and services, including daily 'touts', a 24/7 chat room that draws experienced traders from around the world, and to frequent 'impromptu' sessions online where we look at tradable ideas in real time. Fifty people attended yesterday's session, and you can ask them yourself in the chat room whether they had a good time.
Wednesday, November 12, 2014
DIA – Dow Industrials ETF (Last:177.80)
– Posted in: Current Touts Rick's PicksA Hidden Pivot rally target at 178.47 has kept us on the right side of the rally, although it has been our intention all along to reverse any long positions initiated along the way and get short when the target is reached. I've readjusted it down to 177.63 based on the pattern shown, and will now suggest bidding 1.20 for sixteen December 5 176 puts, stop 1.10, good through Thursday. The bid is frugal but reasonable, but you should stay tuned to the chat room in case we need to adjust the price on-the-fly. _______ UPDATE (10:15 p.m.): Wednesday's gratuitous dipsy doodle did nothing to diminish the value of the 177.63 target flagged above. We'll stick with the plan.______ UPDATE (November 13, 6:40 p.m.): Options on this vehicle are too thinly traded to bother with. Instead, I'll suggest shorting the stock in the range 177.54-177.63. The lower number is a Hidden Pivot resistance associated with a new rally pattern created yesterday. You should risk no more than 10-15 cents per share on the initial stop-loss. _______ UPDATE (November 20): Check out the DJIA tout above, since it contains an actionable play in this vehicle. _______ UPDATE (November 21, 9:55 a.m. EST): DIA popped to 178.60 this morning, slightly above the adjusted target given in the $DJIA tout above, but I'm still waiting to hear from subscribers who bought puts before I establish a tracking position. _______ UPDATE (November 21, 4:00 p.m.): Quite a few subscribers were able to get short in timely fashion, including one apparent heavy hitter who reported buying 50 December 5 178 puts for 1.10. Any puts acquired with DIA trading near the 178.47 target provided in today's DJIA tout would have produced a winner, since my target caught the 178.60 peak of an opening-bar short-squeeze within
GCZ14 – December Gold (Last:1161.80)
– Posted in: Current Touts Rick's PicksThe rally will need some giddyup to escape gravity's pull, since merely dawdling at these levels will only increase the risk of relapse below a major Hidden Pivot support at 1137.50. The support has been tested twice and done its job, but it seems unlikely to hold if it gets pummeled a third time. Bulls kept the futures out of trouble yesterday nonetheless, energizing a $27 rally that offered subscribers a low-risk opportunity to get long. I'd suggested doing so if 1158.90 was touched, which occurred during the regular session at around noon. Even though we were using an 1195.00 target, I had also warned traders to take a profit at 1171.00, a 'midpoint pivot' associated with the target. This proved to be good advice, since the futures pulled back (so far) by $12 after peaking at 1172.50. Now bulls will need to forge higher, and soon. An obvious benchmark by which we can judge their mettle is the 1194.10 target shown (slightly revised from yesterday). But they'll need to do somewhat better than that, exceeding the 'external' peak at 1202.80 that I've labeled, in order to take charge. If this has not happened by Thursday night, however, a fall below 1137.50, with the implications noted above, will become an odds-on bet by week's end.
