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600-Point Dow Rally Just Ahead

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 22 November 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/11/DIA-easy-move-through-p-has.jpg

Based on actual fills reported by subscribers, I am tracking eight Dec 9 192.50 calls with a cost basis of 0.34. Originally I’d suggested spreading them off against some short 194.50 calls, but I’ll now recommend simply offering half of them to close for 0.68, twice what we paid. If successful, we’ll hold half of the original position effectively for free. On the daily chart, DIA projects most immediately to 191.02, a ‘secondary’ Hidden Pivot, and I doubt it will have trouble getting there. Judging from the way buyers blew past the 186.90 midpoint Hidden Pivot, then consolidated above it, the 195.15 target looks like a very good bet to be reached. If so, it implies an impending rally of nearly 600 points in the Dow Industrials. If you don’t subscribe, you can access the chat room and all of Rick's trading 'touts' instantly by clicking here for a no-risk, two-week trial subscription.


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 -- Published: Tuesday, 22 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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