Ricks Picks

TSLA – Tesla Motors (Last:209.22)


Is it okay for Tesla bulls to come out of their bomb shelters?  Perhaps, but only with caution. The stock bounced sharply on Monday from a low that was close to the 193.31 Hidden Pivot support we were using as a minimum downside target. On the hourly chart (inset) the selloff looks to have reversed an inch from where we’d expected. But I hesitate to declare the target achieved, since the tiny-looking gap was actually $5.45. Given the sinewy delicacy of the pattern itself, we might have anticipated a tradeable bounce from within no more than 15-20 cents of the target. In addition, downside gaps at the red line (p) and the secondary pivot (p2) imply that sellers are not yet spent. Bottom line, I’ll suggest keeping your enthusiasm in check until such time as TSLA exceeds 213.30 — or better yet, closes above that number. It is equal to an ‘external’ peak recorded Friday on the way down, and a move above it would generate a robust impulse leg on the lesser charts. _______ UPDATE (May 22, 4:07 p.m.): Down nearly $12 midway into Wednesday’s session, TSLA bounced from within a nickel of the 193.31 target. Unfortunately, it subsequently slipped lower and closed 62 cents beneath it. Any further slippage would send the stock down to 188.81, a minor Hidden Pivot support, but a close beneath it would put a 170.21 target in play. ______ UPDATE: (Jun 6, 11:03 p.m.): The slimeballs who rule TSLA shares have stepped back to let short covering drive the stock higher over the last three days, since this could be the best opportunity they will have to unload stock on widows and pensioners before it tanks below $100. The daily chart is now bullishly impulsive, but we’ll need to see how the second leg up interacts with the midpoint Hidden Pivot before we can judge how far the rally is likely to get. Let’s root for it, since Musk could use some breathing room. _____ UPDATE (Jun 11, 6:27 p.m.): I love Musk and am rooting for Tesla to survive, but this rally is getting a little ridiculous considering how grave the company’s troubles are.  Let’s bid 1.90 for eight 16th August 180/170 put spreads [corrected from 190/180]. They closed at 2.15 bid, but the spread will get cheaper if the stock rallies to my current target at 222.85 (15-min, A=191.85 on 6/5). Mark the order good through Thursday, but check back if TSLA trades above 222.85. If you have any questions about this trade, I’d strongly suggest that you not do it. _______ UPDATE 10:24 p.m.): Go Musk! Panic-stricken bears have squeezed the stock as high as 233.50 tonight. Let’s lower the bid for the Aug 16 170/180 put spread to 1.40, based on a 236.12 target (60-min, A=178.58 on 6/3 at 8:00 p.m.; B=2.11 on 6/6). You can also attempt legging on the bear spread of your choice, predicated on TSLA topping at or near 236.12. This is a day order. _______ UPDATE (June 12, 11:04 p.m.): The rally sevened out well shy of our target, leaving the put spread out of range. We’ll try again when the opportunity arises, but for now stay cool.

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Seminar Information page.

Tuesday, October 15, 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, October 15. Click below to register or get more information.

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