ARCHIVED COMMENTARY
Bulls Love These
Troubled Times
For edition of October 23, 2007
Surely a stock market trading near record highs and apparently in love with the housing bust, a looming recession, a collapsing dollar, $100 oil and the prospect of Hillary Clinton as our next president can shrug off lousy third-quarter earnings, right? We had our doubts, especially when we saw the S&P futures getting savaged Sunday night, continuing the earnings-induced selloff that lopped 367 points from the Dow Industrial Average on Friday. It was shortly before midnight, and the E-Mini S&P contract was down fourteen points, implying the Indoos would start the new week a hundred points in the hole. And so they did. But that was as low as the blue chip average went, and by day’s end it had worked its way back to a modest 45-point gain. Whatta guy!
We were prepared to take partial profits on a put position in the QQQQs, but not at the wishy-washy 52.02 downside target that went out to Rick’s Picks subscribers over the weekend. While that target was commensurate with a soft opening, we were looking for far worse than softness. An avalanche, maybe. We therefore advised as follows: “The nearest Hidden Pivot support lies at 52.02, but let's play fast and loose this morning and not sell any [of our November 52 put options] until the Cubes reach visually obvious support down around 51.34.” Fast and loose, indeed. The QQQQs trampolined off 52.02 exactly and never looked back.
With Apple and Google providing the push, perhaps it is no longer even possible for the QQQQs to decline in any significant way? Apple was up $4 most of the day, Google nearly $10. What’s more, it turns out AAPL shares were just getting warmed up. After the close, in an announcement that could have surprised no one, the company reported surging profits and revenues from iPod and iPhone. This caused the stock to leap a further $10, all but clinching a bullish opening on Tuesday for the Nasdaq index. Perhaps we’ll heed our own advice concerning Apple at this point, since our bull market target for the stock, disseminated when it was trading $20 lower, is still well above these levels. After AAPL’s performance yesterday, we’ll think twice before we act – and trade -- as though it’s not going to get there.
***
Out-Forecast the Gurus
Take a look at the chart below. See anything that might have led you to predict that December Crude would make a very tradable top at 87.97? Would you like to learn how to forecast stocks and commodities as accurately yourself? Are you tired of having some guru tell you what to do? If so, then read on.
Now, Rick’s Picks has been predicting $100-a-barrel oil for quite a while. Even so, and bullish as we are on crude, we don’t always trade it from the long side. Consider the following short recommendation that went out to subscribers the other night. It is based on Hidden Pivot analysis: “[My rally target for December Crude] is 87.97, and you can short there with a 14-cent stop-loss… Since the correction could be shallow and brief, don't be too ambitious about profit-taking if the opportunity to do so should arise.”
Now take a look at the chart again and see how things played out:
A lucky coincidence? Hardly. Hidden Pivot targets get hit so precisely so much of the time that it couldn’t possibly be due to blind luck. Moreover, visit the Rick’s Picks chat room and you'll discover that the basics of the Hidden Pivot Method can be learned by anyone in just a few hours. But don’t take my word for it. Ask some of the regulars who have taken the Hidden Pivot seminar. They will tell you not only that it's possible for “amateurs” to forecast stocks and commodities with astounding accuracy, but that it's great fun! And why wouldn't it be, if it freed you from ever having to ask an "expert" what he thinks about a certain stock, or about "the market". Who cares what he thinks when you can learn how to do it yourself – to do it better, even, than quite a few gurus who do it for a living.
If you’ve heard about this course but could not attend earlier sessions in New York, Sydney, San Francisco, Denver, Vancouver and other cities where it has been offered, there is good news: It will be offered online the first weekend in November. And there’s an additional incentive that has never been available until now: Register for November 3-4 class and you will have immediate, 24-hour access to the full, recorded version of the course. I will also ship you a copy of the 109-page course manual as soon as I’ve heard from you. And if you are not currently a subscriber to Rick’s Picks and sign up by October 21, I’ll throw in a free month’s subscription – a $42 value.
Only 4 Seats Left
Don’t delay if you’ve been thinking of taking this seminar, since there are only four seats left of the original 14. They could fill up quickly, and there are no other classes scheduled at this time.
For your convenience, the seminar will be held on Saturday and Sunday morning, November 3-4, in two three-hour segments. In addition, after you’ve had some time try out your new skills, you’ll have a chance to query me directly during an open-ended, two-hour chart session online.
The Hidden Pivot course could be the best opportunity you will have to learn how to forecast as accurately and confidently as paid gurus. It doesn’t take a PhD to master the technique either, since you’ll be taught how to look at stock charts as “art,” rather than in the conventional way.
Training Manual & Recordings
Here’s what you’ll get if you sign up now:
· The two-day, six-hour Hidden Pivot course and training manual
· A two-hour Q&A follow-up once you’ve had time to try the system
· Free “continuing education” classes online
· Free 24-hour access to recorded seminars, tutorials and Q&A sessions
· A free-month’s subscription, with access to the Rick’s Pick chat room during market hours
· Access to thousands of annotated charts in the paid-subscriber archive
· Access to the Educational Pages, with simple but effective strategies for risk management and market timing
· Rick’s daily Touts, including detailed trading recommendation for stocks, indexes, futures and options
· Dave McDonough’s “Excellent Hidden Pivot Calculator”
· Rick’s idiosyncratic put-and-call advice, which distills more than 30 years of trading experience down to a few simple essentials
Sign up now and receive all of these benefits and more for just $960! To go directly to the registration page, click here , then on the “Upcoming” tab. If you would like more information about the Hidden Pivot Method, or about upcoming sessions, including a possible on-site session in Florida this winter, please click here.
