Actionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)'Mechanical ' sell signals have a great track record for producing profits, but the waiting time lately has become tortuous. This could be because the white-shoe racketeers who rig the markets have lacked sufficient "news," good or bad, to trigger the wild swings needed to steal from panicky retail investors. Trump's bloviations have lost their punch, and Fed-watching has devolved into something like Kremlinology, too arcane to parse. Be that as it may, the futures remain on-target for a further fall to at least 6720.00. I canceled a corresponding short in QQQ Friday on the hunch that it would take hours to grind out a relatively small profit. That is what happened, and don't be surprised if Monday and the week ahead offer more of the same. The big moves have come early in the week lately, presumably because it takes a few days for lack of mass indecision and uncertainty to slip into its by-now-familiar rut. _______ UPDATE (Feb 3, 3:59 pm.): Do you see the 6720.00 target boldfaced above? It not only correctly and confidently predicted the extent of the nasty, 155-point swan-dive that was yet to follow, it also caught the low of the dive within 1.75 points. Only two subscribers appear to have noticed any of this, and one of them, a novice with an extremely erratic track record, caught a profitable ride worth $3000 from within a hair of the low. If you got long there yourself and rode it to the top, the trade would have produced an intraday gain of $6500 per contract.f
Notifications
A chat room post concerning Silver that may be of interest
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)09:59 RickMay Silver would signal a mouth-watering 'textbook' buy when it touches 77.866, a hair beneath the so-far low. That is the green line, however, and NOT a target, so any buying there should use a 'camo' trigger. Also, there is perhaps a 70% chance the selloff will continue to at least 69.245, a back-up-the-truck number. Please note as well that there are no compelling patterns that guarantee new record highs will be achieved on the rally from that low. An HP at 117.485 is as high as I am comfortable projecting at the moment.
Timely Bitcoin post
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)16:48 WestBTC - crashing after hours, may take out today's earlier low. Looking for 71,500 to cash in my SBIT position.17:0017:14 RickBTC could fall to as low as 62,080. The pattern is sausage-y, but I just got done explaining to Ncohrnt why p midpoint logic still works even in lousy patterns. In this case, I've compensated for its lousiness by using a one-off 'A'. Also, the A-B impulse did exceed TWO 'external' lows without an upward correction, attesting to its power. Bottom-line: I would bottom-fish p2=71,051 gingerly, and also brace for more carnage down to 62,080, possibly with an intervening bounce. Here's the chart:17:15 Rickhttps://bit.ly/3ZPiN5l Virus-free.www.avg.com
Chat room stuff you might want to know about
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)12:58 RickNote to newbies and everyone else: ALL PATTERNS must use the following format if you want me to respond: 60-min chart, A=325.50 on 2/1 at 10:00 a.m. EST (if the pattern is obscure, you might also include a 'B' coordinate)13:0013:08 RickTSLA is the poorest performer on my list today, having vaporized an HP support at 407.54 that was equivalent to Krell metal 18 inches thick.13:12 RickCrude, whose lunatic-y dive on Monday didn't much affect my bullish outlook, is unavoidably bound for 67.46 (6o-min, A=60.14 on 1/27).13:17 RickMSFT is struggling for traction very precisely at p=408.45, but a breach of today's low would put it on course for 377.29 (30-min, A=483.33 on 1-28 at 4:00 p.m.)13:19 RickQQQ cannot possibly hold today's low because it is just 19 cents from the crucial clown low recorded on December 17.13:22 Nick the GreRick you are the best13:22 RickGOOG targeted on d=328.49, but the support has already been front-run because the pattern is somewhat obvious: 60m, a= 341.20 on 1/1313:25 RickNVDA is sickly and 'should have' reached 207.96. Instead, it is close to stopping out a 'textbook' mechanical buy at 178.67. That would occur on a 168.89 print.13:26 ncohrntkrell, lol13:33 DarrinHi Rick…I see that MSTR pattern … btw thanks for the tsla target bought some 407 puts first thing today and cashed out a nice profit. If you have a chance would you be able to take a quick look at Uber ? Thanks [{{ Why don't you look first and tell me what YOU see? Hint: My target is in the mid-60s.RA }}}13:34 RickWMT looking as good as the real U.S. economy looks bad. Someday, the market seems to be saying, we'll ALL shop at Walmart. Will they be selling the insects we supposedly
Late-night note on Gold
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)23:04 RickGold's wildness has impelled me to experiment with new ways to interpret ABCD patterns, some of them howlers. As a result, I am currently using a 5476.70 target, with a possible, even serious, stall at 5213.30. Alternatively, a relapse to 4686.60 would trigger a back-up-the-truck 'mechanical' buy, stop 4423.20. Virus-free.www.avg.com
An invitation
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)Lots of fun posts in the chat room so far this morning! Drop by for fact-filled entertainment when you get a minute, okay? RAVirus-free.www.avg.com
An after-hours note concerning Silver
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)20:15 RickWith a wicked swoon, the SI short at 107.035 that I recommended in my 5:30 p.m. update (see tout) has produced a relatively quick profit of as much as $14,000 per contract. I regret not mentioning that the short could have been covered and reversed pennies off this evening's low by using p=104.215 of the pattern that generated the short to begin with (A= 117.700 at 1:15 p.m.). SI turns out to be no more difficult to trade or forecast than before today's unremarkable, $16 dive. The snapback rally is vicious enough to suggest my 122.305 target could be reached after all.
Bitcoin note from the Trading Room
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)For lack of genuine interest, Bitcoin has flunked the reinstatement test. The $2800(!) bounce off yesterday's low came from within 22 points -- that is a fiftieth of a percentage point -- of the 87,722 target I'd advertised in the last update. There was no mention of this in the room, not even from the dozen-or-so subscribers who professed to want BTC to remain on the list. Accordingly, starting on Sunday, I will substitute Copper for BTCUSD. I am willing to provide private forecasts for anyone who wants them, but the charge will be $1500/month, and I will need at least four signups to initiate coverage. The service will come with a money-back guarantee, details on request. Serious inquiries only, at rick@rickackerman.com
Chat room note on BTC that you may have missed
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)12:57 RickThis pattern has controlled Bitcoin since mid-October: https://bit.ly/497uZUK Judging from the way p was penetrated initially, there is still a good chance it will fall to d=72,756. A rally in the meantime to p=99,526 would trigger a 'mechanical' short there. Do the trade only if you know how to set up a 'camo' trigger' and where the stop-loss should be placed, based on 1:3. Virus-free.www.avg.com
Chat room note on BTC that you may have missed
– Posted in: NotificationsActionable Trade-Alert from Rick in the Trading Room (Please check all related discussion in the room before you do any trades.)12:57 RickThis pattern has controlled Bitcoin since mid-October: https://bit.ly/497uZUK Judging from the way p was penetrated initially, there is still a good chance it will fall to d=72,756. A rally in the meantime to p=99,526 would trigger a 'mechanical' short there. Do the trade only if you know how to set up a 'camo' trigger' and where the stop-loss should be placed, based on 1:3. Virus-free.www.avg.com
