Stocks are in wafting mode, indifferent to tariff wars, slumping retail sales and impeachment talk. The broad averages have been racking up impressive gains even when buying interest is weak to nil. It certainly felt that way on Tuesday, when the Dow Industrials rose nearly 200 points on the opening bar, then hovered aloft for the rest of the day. For every tepid buyer it would seem that there is an even more tepid seller. The only stock that has attracted bears with some gumption is TSLA, which has been fighting for its life lately against a steady stream of ugly headlines. Short sellers had better make the most of enticing odds in the stock, since they’re not likely to catch a favorable breeze elsewhere. The chart (inset) shows VXX, which tracks short-term volatility in the S&Ps, headed at least 6% lower over the next day or two. If so, the index, currently trading for around 2864, is bound for 2900. Play the FAANGs, over-stoked as they are, and you can’t miss.
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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.
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