Ricks Picks

Sure, the Rally Stinks, but…

EST

Although oil prices and Treasury yields have been falling in anticipation of a widely advertised economic slowdown in Europe and China, U.S. stocks are rising as though boom times lie ahead. What is going on?? It would appear that bulls simply cannot control themselves when there is talk of Fed easing. The prospect of QE3 has been in the news lately, driving a short-covering rally that has pushed the Dow Industrials up by more than 700 points in the last two days. The move lost a little power on Wednesday, but it is unlikely to fade much more with the weekend approaching. If DaBoyz can sustain altitude on Thursday, odds are good they will be able to break a six-week losing streak in the broad averages.

Sure, the rally stinks to high heaven and begs to be shorted. However, we need to keep reminding ourselves that its very purpose is to chasten bears who think that merely being right is an easy ticket to profits. Indeed, the more skeptical we grow of the rally, the more steeply it will rise. Can it possibly reach a purely technical S&P 500 target at 3095 given here earlier that lies nearly 10% above current levels? I remain skeptical, but that doesn’t mean I am willing to fight buyers every inch of the way. For now, we hold no position, having cashed out a profitable ‘counterintuitive’ long in the E-Mini S&Ps entered on Tuesday.

Comments on this entry are closed.

none June 6, 2019, 11:47 am

The recent INDU/SP ‘spring’ on 05292019 says it all, it was a broken ‘buy signal’ moving then towards lower pricing.

Its not the pricing that is important but the fact such ‘buy signals’ (buy that DIP) are breaking lower suggesting that the recent April is an important area in price level longer term than most suggest today.

Today, and the last few days are price moves base upon pricing that was created by extreme over sold ‘breaks’ in the market. Such moves are about 3-4% counter trend over all, such as the recent 12/10/2018 counter trend breaking of ‘springs’ or buy signals at that low points.

More important is the ‘switch hitting’ going on like wild fire over the recent weeks, as toward breaking major yield support levels, while DXY/EC having created over a 60-70 trading period of ‘much effort’ with ‘little results’ to sustain any type of higher (DXY) and lower (EC FX) forgoing trend.

The CL INDU/SP analog is in place, it will continue as CL looks now and suggest a major high is in place recently. A 3-5 year low is target.

Baseball Bat to the head time, GET ready America!

Have a great weekend 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, 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.

Knowledge Base Link