Ricks Picks

GDXJ – Junior Gold Miner ETF (Last:30.28)

EST

I wish I could bring you better news, since, for the last three years, this once-popular gold vehicle has been beaten worse than a harp seal during mating season. The chart (see inset) suggests it is hanging on for dear life at a 36.56 midpoint support that has been breached, although not yet decisively.  It is tied to a ‘D’ target at  18.56, implying the stock’s price could be cut in half yet again before this bear market has run its course.  If you’d like to offer up a prayer, ask that the stock turn up from here, surpassing 37.38 without taking a breather.  That would be enough to turn the daily chart speculatively bullish. _______ UPDATE (December 4 at 12:39 a.m. EST): The 28.47 target looks compelling enough to be bought aggressively. If and when the stock gets within a dime of that Hidden Pivot, which it will, buy twelve December 13 (weekly) calls, 30-strike, no stop. Pennies count here, so work hard at getting a good price.  Your edge lies in knowing precisely where the stock is likely to turn. _______ UPDATE (December 9, 12:05 a.m.):  The target still looks buy-able, but I’ll suggest shifting to the December 21 (monthly) 30-strike calls. With the stock trading near 28.47 today, a price of about 0.45 for the calls would be excellent. Please let me know in the chat room if you fill the order, since I’ll likely recommend a stop-loss 0.15 below the average price reported.  Note as well that GDXJ is likely to continue falling to 26.79 if the stop is hit. (60-min, A=32.87 on 11/29). _______ UPDATE (December 12 at 10:04 a.m. EST): The stock has aborted the rally and relapsed to within inches of the 28.47 target. The target is still valid in theory, but I wouldn’t lean too heavily on it at this point, since a breach of the recent bear-market low at 28.87 is apt to be more than merely marginal.  Obviously, buying December 21 calls is a non-starter now.  If you want to speculate on a bottom nonetheless, I’d suggest doing so via a 28.52 bid, stop, 28.39. _______ UPDATE (December 16, 12:01 a.m.): With the modest rally that occurred as last week ended, the desirability of our bottom-fishing gambit faded. Do nothing further for now.



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Tuesday, August 20, 2019

The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.

Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.

Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.

The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.

The next webinar will be held on Tuesday, August 20. Click below to register or get more information.

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