Ricks Picks

On Wall Street, a Fever Takes Hold

EST

Fever took hold of the stock market as the week ended, stoked by the best unemployment numbers in half a century. Two days earlier, shares had fallen sharply as investors registered their disappointment in the Fed’s latest pronouncement. Obfuscator-in-chief Powell had said the central bank would hold steady and that the economy seemed in fine shape. But the markets reacted as though they were hoping for just enough bad news to push monetary policy toward easing. No matter. By Friday, the virtues of an actual strong economy won out over hopes for a weakening economy deserving of stimulus. The buying spree we saw in celebration of this newfound contentment seemed likely to accelerate in the week ahead.

A key feature of the melt-up since January has been the steady rise of some FAANG stocks beset by troubling news. Boeing is enmeshed in a deepening scandal related to the fatal crash of two 737 Max aircraft. But however disconcerting the news on a given day, the stock has either risen or remained buoyant (click on chart inset). Apple’s iPhone sales have been weakening, but that hasn’t inhibited the stock’s wilding spree. And Facebook, taking regulatory flak every time Zuckerberg speaks, has soared on news of a broad but unimpressive change in the company’s business model. Finally there is Google, which plummeted 10% last week on news that they are losing ground in advertising to Facebook and Amazon. The selloff seemed certain to mutate into a routine shakedown, however, and before the week ended, Google shares appeared once again to be firmly in the grip of the weasels who manipulate them, always with an eye toward new-record highs.

A Millennial Peak

Scanning the business pages, the overall impression is that the U.S. economy has never been stronger and that nothing could possibly go wrong.  Bloomberg’s editors went all-in with headline hubris that just begged for trouble: If This Is a Tech Bubble in Stocks, It’s the Expansionary Phase. Mind you, the conspicuously unprofitable Uber is about to go public with a possible $100 billion (!) valuation, and Softbank is talking about spinning off an investment fund of similar size. If such overweeningly ambitious offerings are mere precursors to an actual bubble, just imagine what decadent prosperity must lie ahead for America. Will we all feast, as William F. Buckley once had it, on nightingale tongues? Such are investors’ dreams as their excesses expand heedlessly toward a millennial peak.



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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.

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.

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