We don’t typically look for trades in Gold futures during these weekly tutorial sessions, but there we were nonetheless, financial tourists on the 1-minute bar chart, staring opportunity in the face. The point of the exercise was that even in a slightly trending vehicle – one that subscribers care about perhaps a little too much to trade disinterestedly – there were interesting things to do. And so we did. Check out what was available on the three-second bar chart if you want to be convinced that a trader need never pass a day in boredom.
Wednesday, January 21, 2015
NFLX Goes Nuts, but Who Cares?
– Posted in: Free Rick's PicksA $65 short-squeeze in NFLX after the close looked superficially impressive on the intraday charts, but the stock is probably not important enough to pull the market higher on Wednesday. More likely is that stocks will be pulled down if the rally sputters out near a midpoint Hidden Pivot resistance at 410.44 that has contained Netflix' wilding spree so far.
NFLX – Netflix (Last:404.69)
– Posted in: Current Touts Rick's PicksThe felonious greed that animates the markets was laid bare Tuesday when DaBoyz ran NFLX up $65 on news after the close the subscriber growth hit a record in the last quarter. The leap in Netflix shares amounted to 18%, suggesting that the supposed collective omniscience of investors was somewhat deficient in the days and weeks leading up to the news. Traders should use the 410.44 midpoint pivot shown as a minimum upside target and a place to try shorting with a tight stop-loss. But if the pivot is exceeded, take it as a sign that the stock has eyes for the midpoint's associative 'D' target at 505.33
DIA – Dow Industrials ETF (Last:174.88)
– Posted in: Current Touts Rick's PicksTuesday's progress above the 174.89 midpoint resistance shown was scant, but bulls get the benefit of the doubt nevertheless because the pattern that produced the pivot is so clear. Trade with a bullish bias if DIA is trading 175.40 or higher in the first hour, but I'll further suggest reversing the position and going short if the 176.64 target is achieved. _______ UPDATE (January 25, 10:52 p.m. EST): Any short position taken would have been short-lived, since DIA turned out to have been on its way to a top 178.14.
GCG15 – February Gold (Last:1301.10)
– Posted in: Current Touts Free Rick's PicksThe steep rally of the last week has made some in the chat room skittish, if not quite eager to jump off the train. However, I'd suggest hanging on for at least another day or two, since a rally of just 0.90 above the so-far high at 1297.50 would exceed August's external peak at 1298.40, generating a robust new impulse leg on the daily chart. Traders who followed my most recent guidance would have been long from 1275.80 to Tuesday's 1297.80 high, for a theoretical gain of $2200 per contract. To reboard, or to get on board belatedly, night owls should use the following rally pattern to craft a 'camouflage' entry opportunity (5-minute): A=1293.80 (9:25 p.m. EST on 1/20); B=1297.50 (10:05); C= (still undetermined). ________ UPDATE (January 21, 11:38 a.m.): Using my guidance above, you bought near x=1295.80, took profits on half the position at 1296.70, and on 25% more at 1298.50. The single contract you'd have left, with a profit adjusted cost basis of 1291.20, can be held to swing for the fences. I'd suggest tying it to an 'impulsive stop-loss' on the 5-minute chart, implying at the moment that you'd exit on an unpaused dive exceeding 1296.30.
