Ricks Picks

LYFT – Lyft Inc. (Last:53.79)

EST

Three weeks after I projected a fall to 53.60, Lyft has touched that number and gone as low as 52.78. The stock will have another chance to pick up support slightly below, at 52.27, a midpoint Hidden Pivot, but a decisive breach would put a 41.54 target in play. That would represent a 53% drop from the opening day high of 88.60 and a 21.5% drop from the current price of 52.90.

Uber is unlikely to fall as much percentage-wise after it begins trading on Friday simply because Lyft’s experience is certain to discourage the repetition of the wild excesses that greeted LYFT’s first day of trading on March 29. Uber shares are expected to open in the range $44-$50, representing a valuation of $80 billion to $90 billion. If they open in the middle of that range, near $47, a 21.5% drop over the next couple of months would bring it down to 37.13.  These targets are just guesstimates, but you should jot them down anyway, since my strong hunch is that they WILL be achieved. _______ UPDATE (May 14, 8:09 a.m. ET): Uber has tanked nearly 20% since its IPO debut two days ago at 44.50. Morgan Stanley is taking heat for this, but only from investors who could have seen it coming with a little common sense and some technical analysis. The stock ended Tuesday in a moderate dead-cat bounce, but it should fall anew to at least 34.92 if my back-of-the-napkin calculations prove correct. _____ UPDATE May 19, 10:46 p.m.): Don’t believe the rally in either stock.  It’s no surprise that the greedy dirtballs who held shares before they began to trade should want to distribute stock shortly thereafter, since they obviously got it wrong.



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Tuesday, June 11, 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, June 11. Click below to register or get more information.

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