Ricks Picks

An IPO Wet Blanket Shrouds Wall Street

EST

Although I usually let charts tell me where stocks are headed next, the current technical runes are a tad sunnier than I am at the moment. This is notwithstanding recent weakness that has caused new record highs that were within spitting distance just a few weeks ago to recede. A 3095 target that lay just 4.5% from early May’s peak now sits 10.5% away. It’s certainly do-able, but I doubt buyers have the moxie to turn things around as sharply as they did in December.

The failure of much-ballyhooed IPOs in Uber and Lyft to get Wall Street’s speculative juices going is a wet blanket shrouding the Street right now, the wetter because the bloated airbag called WeWork seems likely to lay an egg when it goes public. If it bombs, that would complete a bearish hat-trick of IPOs. The office-rental firm sported a $47 billion valuation in January, and although that is now looking like pie-in-the-sky, there’s no telling how severely the stock will be marked down when it starts to trade.

Shady Numbers

However, because WeWork’s nifty accounting tricks are even shadier than Lyft’s or Uber’s, and because investors have been in such a surly mode lately, we should look for WeWork shares to get savaged in the early going. With such a drubbing in prospect, it’s hard to imagine investors summoning the bravado to push the shares of Apple, Facebook, Boeing et al. into the ether, especially since all of those companies have serious problems of their own that have been widely reported.

Comments on this entry are closed.

none May 30, 2019, 6:29 am

Economy Turns Downward = Civil Unrest.

Breaking the 2.697 TYX (30 year) yield level will suggest a test of the all time low print in yield.

The TYX has broken this level and as the recently printed all time highs and aggressive recent 3 day downturn while lowing yields in the Dow Utility Index now places the UTY Index giving a clear signal of the coming market decline related to recession.

The Dow Jones Utility Index has now change from an ‘interest rate indicator’ to an ‘economic indicator’ and falls with the economy.

————-SPX INDU ‘low of last week’ 04042019 email update;

Yesterday the SPX/INDU moved to the pass 3 week low point on a close, this created a buy point (spring for rising prices) in many breadth models. It will fail here today or in a few days towards lower pricing.

The ‘largely talk about A/D market stats’ of the last few months towards new all times high suggested to many of ‘all new time highs in market pricing’ over the coming weeks and months ahead at and near the 04042019 date update. In ‘Bull Markets’ market breadth stats suggest when creating new all time highs that higher pricing will continue, this is true and called an ‘after burner effect’. While many A/D stats indicator’s are lower over time you will find that market pricing will consolidate and then continue to rise over the weeks and months ahead. In ‘Bear Markets’ very high spikes in A/D market breadth stats create a continue process of ‘buy setups’ at lower levels that fail, suggesting that the market had under gone a major ‘Bull Trap’.

Over the years as mention ‘market breadth indictors’ have become polluted in their meaning and are entering an era of breaking apart towards their worth in analyzing markets. To further note that ‘volume indictors’ are as well under such scrutiny because of the rise in what is called the ‘4th market trading exchange’. Both types of market analysis are in long term jeopardy of long term worth.

TYX, ZB, JYP, TYX has broken its long term trading range at the 2.697 level moving the market towards a longer and lasting trend lower over the weeks and months ahead.

The CLX has created a small buy setup spring, suggesting short term rising prices, the larger slower moving NFI of the OBV grouping is in break apart pricing condition. Suggesting the breaking of short term buy signals can be extreme and volatile.

SPX/INDU support comes in at every 3% hedging level from its recent high point, moving though or gaping though a hedging level should be observe as ‘short term buy signals ‘fail’, market pricing can speed up the fall in pricing far pass a 3% level on the way lower.

Have a great Rick.

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, August 20, 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, August 20. Click below to register or get more information.

Knowledge Base Link