Ricks Picks

DaBoyz Goose AAPL to Fool the Hoi-Polloi

EST

Yesterday’s commentary suggested keeping a close eye on AAPL because the stock has looked so awful lately. When you catch yourself thinking a stock has nowhere to go but down, that’s when you should prepare for it to explode. Which is exactly what Apple shares did tonight, on news that the company’s earnings have “stabilized”. This morsel of non-news did the job it was designed to do, triggering a  short-covering panic after the close that has pushed AAPL to 164.85 — more than $10 above its intraday low. This works out to a gain totaling more than a billion dollars. It’s safe to say that nearly all of it went into the hands of institutional thimble-riggers who have sought the perfect opportunity to unload this dumpling ahead of its eventual plunge below $100.

I won’t rehash all of the problems that have caused AAPL to fall from $233 in early October to a bear-market low so far of  $142. Suffice it to say, the company has no new killer products or apps to offer consumers, and their exorbitantly overpriced iPhones — up to $1500 for the latest model — will face increasingly aggressive competition from Asian manufacturers. A U.S. recession would deliver the coup de grace, turning what until recently had been the world’s most valuable company into a salvage case.

Fool’s Gold

But any such day of reckoning has been postponed by tonight’s rocket rally. It easily exceeded a prior peak at 162.11 where I’d said the technical picture would turn from full-on bearish to moderately bullish. It will also turn the FAANGs and a few other lunatic stocks feisty enough to push the broad averages higher, perhaps significantly so, for at least the next few days. At some level, a bear market that had begun to look like a given could conceivably sparkle like a cave wall salted with fool’s gold. As is our wont, however, we’ll continue to insist that the rally is a hoax while acknowledging that with enough pyrite, it could mutate into the real McCoy. DaBoyz are that clever, and we should never doubt their ability to manipulate stocks so that everything that seemed to be weighing on the market just a week or two ago becomes a vague memory.

Comments on this entry are closed.

Lee January 30, 2019, 4:43 pm

AAPL has a combination of huge daily revenues and obscene gross profit margins. Without a recession there’s only so far it can go on the downside no matter what their business looks like. Share price relative to the 200 day MA works quite well…..down in the low 70s worst case for the ratio, as a percentage. Around 74 percent back on January 3. It can go lower, but that takes a recession which is still out there over the horizon.



Hidden Pivot Graduate
Help Page


Click here
for a help page needed as a Hidden Pivot Graduate.

Keep Your
Skills Current


Click here
for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge

Login



Start a Subscription
Lost my password

Seminar Information page.

Tuesday, April 23, 2019

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, April 23. Click below to register or get more information.

Knowledge Base Link