Easy come, easy go. AMZN stunned traders with a 135-point gain Thursday from the bombed-out depths of Wednesday’s selloff. Then, after the close, the stock reversed steeply, shedding 180 points and sucking tens of billions of dollars from stock markets in the U.S. and around the world in mere minutes. A disappointing forecast for the holiday season triggered the avalanche, which has abated somewhat this evening, although presumably not for long. Analysts were left guessing about the reasons for the downbeat forecast, but higher pay for warehouse workers was cited by some. Google parent Alphabet (GOOGL) also missed estimates, crashing the stock 118 points, or 11 %, at the same time. The devastation in these two stocks will put the kibosh on the wilding spree that recouped nearly all of the previous day’s huge losses. Evidence continues to mount that the bull market begun in March 2009 is over. If so, the transition from bull market to bear is going to produce some of the wildest price swings traders have ever seen. If what we’ve witnessed lately is just a warm-up for even more-extreme swings as seems likely, we’re in for bumpy ride over the next couple of years._______ UPDATE (Oct 26, 8:16 a.m.): The 1584.66 target shown in the chart I sent out last night caught AMZN’s low within less than $1. The stock has since bounced $54. So much for the random walk theory.
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Tuesday, November 13, 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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