Two bubble vehicles, among others, got sacked on Tuesday: AAPL shares and the Bitcoin Index. Although odds favor their recouping the losses in the days ahead, that is no reason for bulls not to worry. For in fact, both peaked almost precisely at the ‘secondary’ Hidden Pivot, 25% shy of their respective rally targets. A stall at or very near this pivot is known to Rick’s Picks subscribers as ‘Matt’s Curse’. Although Matt, an avid silver trader, has not made a scientific study of the curse that came to be named after him, he has accumulated sufficient evidence to suggest that a stall at or very near the secondary pivot, which lies midway between a pattern’s midpoint pivot and its ‘D’ target (see inset), tends to prove fatal more often than would occur randomly. Which is to suggest that it is the most dangerous place for an ABCD-type rally to fail. Moreover, when this occurs, the stock stands a good chance of retreating all the way to the pattern’s point ‘C’ low. If this were to occur in the Bitcoin Index, which is currently trading for around 4413, it would imply more downside to 3879. And if AAPL, currently at 162.03, were to do the same, it would fall to 154.63. Under the circumstances, and given the severity of this scenario, the prospect of ‘Matt’s Curse’ panning out deserves our most utmost attention in the days ahead.
Comments on this entry are closed.
Click here for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge
Tuesday, November 28, 2017
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, November 28. Click below to register or get more information.
‘Tis the Season for Hubris on Wall Street
Expect a Bumpy Ride for Remainder of 2017
‘Fly-or-Die’ Jeopardy in Effect
Are the Big Guys Tapped Out?
Bored? Be Careful What You Wish for…
Fed Hoping for ‘Bad’ Inflation News
Selloff Left FAANG Charts Unfazed
If Hillary Had Won, the Dow Would Still Be Trading Above 23,000
Dragging Four Defenders a Few Extra Yards
Crude-Price Gusher Is Answered Prayers for Banksters and Wall Street