ARCHIVED COMMENTARY
Stocks Neither
Here Nor There
For edition of October 16, 2007
An odd day for sure. The birds were agitated and the dogs were barking, and yet…no earthquake. Around mid-morning, with the DJIA off about 160 points, we would have given odds that the blue chip average would finish the day either down 250 points, or unchanged due to a short-squeeze in the final hour. In fact, neither occurred. The Industrial Average settled at 13984 – down 108 points on the day but 80 points off the lows. A similarly constipated performance characterized the action in two other vehicles we were trading – the Diamonds and the E-Mini S&Ps. Bottom-fishing in both, Rick’s Picks subscribers were advised to get out of the way quickly when the midpoint Hidden Pivots we were bottom-fishing failed to contain downtrends in either vehicle. But instead of falling to the ‘D’ targets associated with those midpoints as we might have expected, selling pressure abated, allowing the broad averages to claw their way back to boringly unsensational losses.
On balance, we view the action overall as mildly bearish, meaning we’ll be looking for stocks to hit the downside targets today that they were unable to achieve yesterday. But it’s going to take quite a bit of ballast to bring down Apple, which looks like it could pull the Nasdaq index 50 points higher all by itself. Yes, it was down yesterday -- but only 28 cents, and that was more than $3 above the day’s lows. If the session had been an hour longer, nothing could have held Apple back.
The action in precious metals was almost as unsatisfying, notwithstanding the fact December Gold was up more than $11 at one point and appearing to consolidate for yet another thrust. That didn’t stop mining shares from giving back most of their gains, so that Newmont finished a paltry eight cents in the black. Goldcorp and Yamana did better, but not much. Nor did we get the satisfaction of seeing Comex Gold test a 768.90 target that has been our minimum rally target since the futures were trading $50 lower in early September. We’ve got targets well above that one, but first things first. We don’t care whether December Gold is boring in getting past 768.90, as long it does get past it.
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Forecast Like a Pro!
If you’ve visited the Rick’s Picks chat room, perhaps you came away impressed by the ease and confidence with which graduates of the Hidden Pivot seminar call the turns. Could you learn to do this yourself? Of course. Would it be difficult? Well, you’ll have to ask KJ, or Harry, or Rose, or Sportsdoc, or Larry, or Hunter, or any of the other grads when you see them in the chat room. But it sure looks to me like they’re having FUN using and mastering their new skills.
If you’ve been thinking about taking the course yourself, I have good news: It will be offered online the first weekend in November. And this time there’s an added incentive: Register now 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 117-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.
Subscribers Get First Crack
I urge you not to delay if you’ve been thinking of taking this class, since there are only fourteen seats available. Subscribers will have first crack at registering this weekend, since the seminar is not being advertised. But sign-ups will be opened to all readers next week, so the class could fill up quickly.
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 gurus who do it for a living. 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 an on-site session in Florida this winter, please click here.
Hope to see you in class!
