October 10th, 2006 Price: Subscribe »

ARCHIVED COMMENTARY

The market shrugged off some atrocious consumer sentiment numbers on Tuesday, obsessing instead on tea leaves that would seem to imply that the Fed might not do anything more with interest rates -- at least, quite possibly, not for a while. Just the kind of thing to get Wall Street’s juices flowing these days, albeit lacking sufficient hydraulic pressure to  short-squeeze the Dow for more than a few measly points on yesterday's opening. At the time, we were more interested in the ongoing death spiral of Beazer Homes, whose shares took the path of least resistance lower, abetted by gravity. BZH didn’t revive until later in the session, when the momentous announcement came concerning what the Fed might possibly do – or, actually, possibly not do. Reflections on the central bank’s innermost thoughts came via the minutes of the August 8 policy meeting. They showed that the decision to leave rates alone was a “close call,” and that more rate increases are possible.

 

If that doesn’t sound altogether encouraging, it evidently was regarded by investors as slightly to the warm and fuzzy side of neutral. Yes, it was a warning to the economy not to get too frisky, lest we all get smacked with a punitive uptick in administered rates. But stock-market bulls seem to have taken it in stride anyway, possibly because they know there is little to fear from a resurgent economy. Indeed, with the housing market slipping as ominously as a Winnebago going over Niagara Falls, only a moron would believe the Fed has any plans to raise rates. So why are consumers, as opposed to share buyers, so glum, pushing the consumer confidence index to 99.6 from 106.5 in July? Perhaps it’s because they know something – know in their hearts, minds and checking accounts, perhaps, that a pause in rates is not going to much offset so many other financial stresses and strains that have begun to crop up after a spectacular, decade-long credit binge.

 

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Seminar Freebies

 

Remaining seats are going fast for the Hidden Pivot Seminar slated for October 14-15 in a conference facility off Central Park West.  If you would like me to reserve a place for you, please let me know by requesting a registration form at this link.  Meanwhile, those of you with registration forms already in hand should get them back to me as soon as possible, since everyone who is completely paid up by mid-September will receive snazzy Rick’s Picks polo shirts and a $125 Hidden Pivot calculator free of charge. Here’s a FAQ to speed your decision along:

 

 

FAQ

 

 

When will the Hidden Pivot Seminar be held?

There are four seminars scheduled over the next four months, all on weekends. The first will be in New York City on October 14-15; the second, in Vancouver on October 28-29; the third, in San Francisco on November 11-12; and the last, in Sydney on December 2-3.

 

 

The class takes two full days, then?

Yes, from 8:30 a.m. to 5:00 p.m. on Saturday and Sunday. After an on-site brunch the second day, the remaining hours will be devoted to an informal Q&A session.

 

 

Can I take the course online?

We do not offer an online seminar at this time, but this may change if demand warrants it.

 

 

Is the seminar open to those who do not subscribe to your Rick’s Picks advisory service?

The course is open to subscribers and non-subscribers alike. However, I encourage all seminar students to subscribe to Rick’s Picks, if only for a month or two, so that they can become familiar with my methods and trading style. Also, the archives and educational pages offer a useful resource for learning about my proprietary methods prior to the seminar.

 

 

How can I sign up for the seminar?

You can request a registration form by clicking on the blue hypertext line under “Last Call!” above.

 

 

How much does the seminar cost?

Tuition for the two-day event is $1,500, This covers course materials and extensive post-grad mentoring in a real-time chat-room held during market hours.

 

 

When is the money due?

A deposit of $300 is due with the registration form. $100 of it would be non-refundable, and the remaining $200 would become non-refundable six weeks prior to the session. 

 

 

How about the remaining balance of $1,200?

It would be payable by two weeks prior to the session and would be refundable. A check is preferred, but you will be able to use a credit card for an additional administrative fee of $50.

 

 

What will I learn?

The goal of the course is to enable students to master the Hidden Pivot method and to use it to forecast price reversals at least as accurately as experts who do it for a living. In addition, you will learn to use some basic risk management strategies and to leverage swing points with puts and calls. If you’re interested in what my subscribers have said about hidden pivots, click here.

 

 

Can someone who knows little about trading or technical analysis benefit from the seminar?

Although many professionals have taken the course, it is an ideal place for the novice to start, since it offers a relatively simple, stand-alone method of forecasting and trading.  No prior trading experience or knowledge is required.