Thursday’s Orchestrated Bounce Was Technically a Dud

Today's updates from Rick's Picks. You are receiving this email because you signed up for daily updates at www.rickackerman.com Is this email not displaying correctly? [View it in your browser](. [Follow on Twitter]( [Forward to a Friend]( The Hidden Pivot Seminar "Trading success is only six hours away." Learn Rick Ackerman's risk-averse Hidden Pivot Method and never trade the old way again. -------------------------------- “...I am pinching myself to be sure I am not dreaming. I am more confident every day with the HP approach. I am making money... I am able to escape the screen if I so wish. I do not end the day stressed and hyperactive. Impressed? I am absolutely knocked out - just wish I had found the site years ago. Best wishes, long may you continue.”- David Ivory Recent Commentary - [DXY – NYBOT Dollar Index (Last:101.18)]( - [The Yellow Flag Is Out]( - [Yellen’s Idea of a Heated Economy]( - [With AMZN’s Effortless Recovery, the Smart Money Is Ready to Rampage]( - [Bull Trades in Gold, Silver and TLT]( - [Inflation Ahead? Yeah, Sure.]( - [A Tone Change in Long-Term Rates?]( - [Bullion Looks Poised to Leap]( - [Where Have All the Contrarians Gone?]( - [Fade the Non-Farm-Payroll Lunatics]( - [Short Into This Craziness?]( - [Is the Selloff Just Another Fake-Out?]( Rick's Pick for Friday Bounce Was Technically a Dud Posted Thursday, May 11, at 6:16 p.m. ET Snap Inc was a Wall Street hoax to begin with — advertising agencies, no matter how glorified and successful, didn’t sport $35 billion valuations when I was a kid — so no one should be surprised that the company’s shares are getting obliterated in after-hours trading Wednesday evening. The stock is currently trading around 17.68, down 23% from the regular-session close and 40% off its peak IPO price of 29.44 on March 3. Costs reportedly have grown much faster than revenues, to put it mildly. Blame lavish stock options this time around. It doesn’t help that Facebook has stolen some of Snap’s best ideas and ported them to Instagram. It’s predictable that having Facebook’s jaws clamped around its jugular will not help Snap’s revenue growth in the months ahead. This means the company will need to drastically reduce costs to keep its shares buoyant. Yeah, sure. That’s like OPEC trying to pump up oil prices by cutting output in the face of falling global demand. That’s not how bull markets are supposed to work. A note to analysts who shamelessly shilled SnapNAP’s IPO: Based on technical analysis that is infinitely superior to your own, shoddy valuation methods, I can warrant that the stock is on its way to exactly 14.81, half its peak value. Jot that number down, by all means — then see if you can take it to the bank, shysters. If you don’t subscribe but would like to join great traders from around the world in the chat room, [click here]( for a free two-week trial subscription. You’ll also receive actionable trading ‘touts’ and invitations to frequent ‘impromptu’ sessions where Rick ‘takes requests'. [follow on Twitter]( || [forward to a friend]( Copyright © 2017 Hidden Pivot Enterprises, All rights reserved. You're receiving this email because you requested that our Daily Commentary be emailed to you. If you don't wish to receive further mailings, please use the unsubscribe link at the bottom of this message. Our mailing address is: Hidden Pivot Enterprises PO Box 270646Louisville, CO 80027 [Add us to your address book]( [unsubscribe from this list]( | [update subscription preferences](