The Pivoteer who uses the chat room handle ‘Crusty Buttocks’ has signaled a potentially winning trade in the QQQs that was still ‘live’ as we went to press Sunday night.  I’d challenged readers exactly two months ago to short the top of the Mother of All Bear Rallies. The prize for succeeding, worth nearly $1,500, included a free year’s subscription to Rick’s Picks, an additional subscription for a friend, a one-hour private tutorial session, and a year’s access to the Wednesday tutorial sessions. I had originally stipulated that at least two other chat-roomers confirm having done the trade, but because the room has been deader than Kelso’s nuts this summer, I’m going to dispense with that requirement.  ‘Crusty’ need only post follow-up advice through Wednesday, including a trailing stop and partial profit-taking advice. If he is showing a profit by Wednesday’s close, he can claim his prize.

…and We’re Short in DIA

Incidentally, I took a stab a shorting the Mother of All Bear Rally Tops myself with a recommendation that you buy September 126 QQQ puts if the underlying vehicle poked its ugly  little head above 129.51.  This was to have been the culmination of a 500-point rally that I’d predicted for the cash Dow. Because the Diamonds actually topped at 129.71 on Thursday and have sold off hard since, I have established a tracking position in the Diamonds:  four September 26 puts @2.12.  Since all puts have been longshot bets since they first began to trade in 1973, I have also recommended taking a partial profit on the puts today, predicated on a little  more slippage in the underlying.  You can learn how to do this stuff yourself! Click here for information about the upcoming Hidden Pivot Webinar and also receive a $50 discount coupon.