It was obvious that the FAANGs and the broad averages couldn’t continue in opposite directions for much longer. On Wednesday the discrepancy was resolved in exactly the way we might have expected: with Mr. Market ripping traders a new orifice — especially those who may have thought they’d figured things out. The day began with the lunatic stocks, led as usual by AMZN and NFLX, in gap-up openings that reached midway into Monday/Tuesday’s steep decline. From there, however, it was down, down, down as the rabid FAANGs turned on those who would have been most encouraged by the spritely opening bar. I’d tell you the stock turned on its handlers, but they were clearly in control, channeling pent-up market orders on the opening to create a fleeting illusion of strength. So is every rally now a distribution even for the FAANGs? That’s my take, since the broad averages seem too fatigued, perhaps terminally, to support the appearance of buying power. They remained smugly placid on Wednesday as the FAANGs did their crazy war-dance, but by day’s end they’d joined in the un-fun, with the Dow slipping 165 points and seemingly wanting more.
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, 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.
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, September 11. Click below to register or get more information.
Two Hottest FAANG Stocks Get Their Comeuppance
All Eyes on Helsinki
For the Superstitious, a Friday-the-13th Bet
The Nightmare Election Scenario
Fear Takes a Holiday
Wall Street Gives Tariff War the Bronx Cheer
A Clear Call on Bull Market Awaits AMZN’s Next Move
The Ongoing Story of America’s Decline
Wall Street’s Perpetual Motion Machine
On Wall Street, Six Dull Innings of Perfect Baseball