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November 19, 2016 | Waiting for a Verdict on the Economy

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

I’ve spotlighted copper in today’s list of touts, since it has the ability to tell us whether the U.S. economy is about to pick up in any significant way.  There are many reasons for the stock market to have rallied on the election of Donald Trump. First and foremost is that, with the backing of a solidly Republican majority in Congress, significant tax cuts are a certainty. The question is whether they will come in time to save an economy that has been flirting with recession. We have several sensitive indicators, including copper, to tell us the answer, which will almost surely be known before 2017.

November 19th, 2016

Posted In: Rick's Picks

One Comment

  • Mike Scandiffio says:

    Do you see a higher low in gold in December or January confirming a new bull market? Also, will gold stocks sell off with the overall stock market?

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