BA – Boeing Co. (Last:344.19)

We’ll keep a close eye on Boeing, since the stock has the ability to lead the broad averages higher on a given day. At the moment, signs are bullish, but they would become still moreso if buyers can lift BA decisively above the 348.80 midpoint pivot today or Thursday.  Even more bullish would be a two-day close above that number.  Rather than guess about underlying strength or weakness, we’ll look for clues in the stock’s behavior relative to the Hidden Pivot levels shown in the chart. Stay tuned for further guidance. _______ UPDATE (March 8, 6:16 p.m. EST): Boeing tripped a very enticing ‘mechanical’ buy signal today when it pulled back to the green line at 344.15. Half of any stock purchased there would have been cashed out at the 348.80 midpoint pivot for a $930 gain, leaving 200 shares with a profit-adjusted cost basis of 339.50. I am not tracking this trade officially, but Pivoteers should file the chart in their trader memory banks under “Mechanical Perfection.” At this point, the 358.10 target looks like a good bet to be achieved._______ UPDATE (March 11, 5:07 p.m.): The gain on this trade is now a hypothetical $2100. No subscribers reported having done it, but I am tracking it nonetheless to demonstrate the ability of mechanical set-ups to produce consistent profit with relatively little work or stress.  Although Boeing, at $350 per share, is priced beyond most traders’ means, the same entry tactic we’ve used here can be employed with commensurate results in stocks costing $50 stock or less. My purpose is to train your eye to see what kinds of patterns work best.  They all begin, as I continue to emphasize, with good strong ‘impulse legs’ that perfectly meet a few simple rules. Click here for a fresh chart that shows it all.  _______ UPDATE (March 12, 5:16 p.m.):  Boeing got schmeissed after the stock trapped bulls with an opening at 355.20, somewhat above a 353.45 ‘secondary’ Hidden Pivot where we’d have exited a third round lot from an original position of 400 shares. The last 100 shares warranted a 96-cent trailing stop.  That is exactly one third of the differential between the intraday high and our target objective, 358.10.  Using ‘dynamic’ trailing stops in this way is covered in the Hidden Pivot Webinar.