The 1236.20 target flagged here yesterday is still the best short-term rally target we’ve got, although some more-ambitious Hidden Pivots also broached here recently will be in play just as soon as buyers turn serious, as they predictably will.

Let me mention that last night’s bottom-fishing recommendation was at a Hidden Pivot midpoint, and camouflage entry was specified.  This meant, essentially, buying with the trend rather than trying to catch a falling spear, and it would have entailed waiting for a trendwise ‘X’ entry point on the lesser charts after 1220 was reached on the pullback.  Posting in another chat room, someone — a Rick’s Picks subscriber, apparently —  took me to task for the “complexity” of this strategy and for generally elevating the level of complexity of my touts. There is some truth to this, but I have done so because there  are now many hundreds of subscribers who  have completed the Hidden Pivot course and who can handle a little complexity — not to mention, explain mildly challenging strategies to less experienced traders in the chat room.  I am grateful that a spirit of helpfulness pervades the room to make this possible, but it was through design rather than accident that this is so.

In any event, I will continue to put out an occasional trade — a Pick of the Day — that even the greenest novice can execute easily, usually with a limit-order entry. The goal of these trades is to make Rick’s Picks pay for itself, for all subscribers.  When vetting a Pick of the Day, I look for trades that are as close to the sure thing as can be found, at least by me, so if your opportunity hasn’t arrived yet, please be patient:  I want the experience of winning to be as pleasant and stress-free for you as possible. (See also: my recent gold coverage)