March 14, 2019 | Rotation Is the Name of the Game

Say this for DaBoyz, they’ve got rotation down. When Boeing and Facebook are getting socked the smart guys simply redirect the money toward, in today’s case, AAPL. There’s always some biggie moving higher, sustaining the illusion that all is well on Wall Street. It isn’t, and that’s why we should treat the rally from late December’s lows as a bull trap. We can go with the flow in the meantime as we have been doing. At the same time, we’ll continue to monitor stalls at important Hidden Pivots as occurred in Facebook. By keeping a midpoint resistance at 174.04 in our sights we avoided getting sucked in ahead of today’s 4% downdraft.
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Rick Ackerman March 14th, 2019
Posted In: Rick's Picks