-- Posted Thursday, 26 April 2007 | Digg This Article | Source: GoldSeek.com
Rick’s Picks
Thursday, April 26, 2007
“Phenomenally accurate forecasts”
A bullish stampede made short work of our years-old Dow target at 13045 yesterday, telegraphing even higher prices in the days and perhaps weeks ahead. The target was intended not as kamikaze number for permabears, but rather as a logical place to short aggressively using a tight stop-loss. This we did, laying out shorts not only in the mini-Dow futures, but in the Cubes as well. (A third recommendation, to buy puts in the Diamonds, was canceled when the underlying issue slightly exceeded our rally target; and a fourth, a short in Goldman Sachs, has yet to play out.)
So cautiously did we approach yesterday’s opportunity to get short that the total theoretical loss for anyone who took all of the trades advised would have been under $100.Surviving to play another day is an important part of the game, and this we have tried our utmost to ensure.
We view the breach of the 13045 Dow target not as evidence that Hidden Pivots do not “work,” but rather as very reliable evidence that the bulls’ all-but-insatiable eagerness to buy stocks is still not spent. Now, what to do? Usually, when a rally target has been exceeded, we simply slide backwards along a stock’s price history to find a lower point ‘A.’ By definition, this will give us a higher target on the other end of the pattern. In this instance, however, the original point ‘A’ was so clearly the correct one demanded by our “one-off” rule that there didn’t appear to be any alternatives.
However, yesterday’s surge past the target has caused us to take a fresh look to determine whether a further, upward target adjustment can be made without breaking any important Hidden Pivot rules (of which there are just a few). Turns out, there was a single logical possibility remaining that I had overlooked. To access the chart that shows, and rationalizes, the new target, and for a detailed trading strategy that will seek to leverage it, simply go to the Touts section of Rick’s Picks.If you are not a subscriber, a one-month subscription will cost you but a pittance.. Click here to give Rick’s Picks a try.
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A Guru’s Secrets
“While perusing some of your posts chronologically from months back, I'm truly struck by the remarkable prescience of many of your fearless calls. The results are uncannily accurate. Thanks again for this opportunity to profit from your usually directionally correct analyses. The subscription is worth every penny - and then some.”
-- Colin L. MacVeagh, a subscriber
Aloha Rick.I just want to thank you personally for all of your posts in Comex Gold and Silver.I have traded gold/silver futures for a decade and there is NO ONE who has identified prices as accurately as you do. FACT:Your New Year's Eve call of a high at 643.10 call was dead-on (even if floor traders ran it up a few days later to flush the momentum traders.) But your subsequent forecast of a pullback low at 603.00 was mind boggling! I Sold my longs at 643.10 and covered my shorts at603.00 -- the exact bottom.
-- Mark Johnson, Hawaiian subscriber
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Want to learn exactly how I do it? Then click here for details concerning next month’s online Hidden Pivot Seminar on May 19-20 (Saturday/Sunday morning). Sign up now while there are still a few seats left. The goal of this course is nothing less than to teach traders and investors of all levels of experience how to forecast stocks and commodities at least as accurately and confidently as those who do it successfully for a living.
With just a cursory understanding of the material taught in the course, and a little bit of follow-up, you will never again have to ask an “expert” what he thinks about a particular stock or “the market.” That’s because you will be better equipped yourself to answer the question simply by looking at a few charts.
The course is not about technical analysis in the conventional sense, with its tired and overly scrutinized trendlines, its familiar oscillators, channels, volume indicators, and all the rest, Rather, it is a way of looking at charts with a fresh eye – to see charts as “art,” with emphasis on visual elements of harmony, symmetry, and, indeed, beauty. My annotated charts do not look even remotely like those of other technicians, and that is why the “buy” and “sell” signals that come from them rarely coincide with those favored and used by the herd.
Don’t Rely on ‘Experts’
The online class will be a particularly good opportunity for those who were unable to attend my classes last year in New York, Sydney, Vancouver, San Francisco and Denver. If you’ve visited the Rick’s Picks chat room and marveled at the forecasting skill of seminar grads, this course is designed to quickly bring you up to their level. While I cannot guarantee that the course will turn you into a fabulously rich trader,I can promise, as implied above, that with a little diligence and practice, your ability to precisely predict price reversals in stocks, indexes, options and commodities will be at least as good as anyone whose forecasts you have ever paid for.
Although the on-site course was offered for as much as $2,000, I am offering it online for $960, since many of the expenses incurred in holding “live” seminars – including hotel and travel costs, and the rental of conference facilities -- are not a factor. If you are seriously interested in attending, click here for more information, or go directly to the registration page by clicking here, then clicking the “UPCOMING” tab.
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