Significant corrections have become so rare that almost no one could expect one to begin as early as…this week? I surely don’t. And that is troubling, since it implies that even those of us who have been pessimistic about the stock market more or less forever (and not without good reason) are ready to capitulate. More troubling still is that there is a growing list of ostensible reasons to get in gear with Wall Street, where the usual animal spirits have been whipped into a frenzy by mounting statistical evidence of an incipient boom in the U.S. and global economies. In some ways, it is arguable, the economic picture has never looked rosier. Even so, I must confess that I simply don’t trust these seemingly halcyon days. Investor behavior may not be quite as giddy as it gets, but it is surely close. “Close” in this context won’t work as a timing indicator, but there is surely no harm in letting it temper our bullish enthusiasm just a little, lest we get caught wholly unprepared when the inevitable downturn comes.
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Tuesday, Sept 11, 2018
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.
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