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April 20, 2017 | Will NYSE Ever Pay Tribute to Its Best Friend, the Permabear?

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.

All kinds of economic news is due out on Thursday, including jobless claims, leading indicators and money supply. Each has had its influence on the stock market at some time in the past, but none of them gets much respect these days. As such, DaBoyz will have to move stocks the old-fashioned way, manipulating them in whatever way it takes to goad shorts into covering. That’s how nearly all strong rallies begin and end, even if we’ll never see some celebrated permabear — David Stockman gets my vote — ringing the opening bell at the NYSE.

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April 20th, 2017

Posted In: Rick's Picks

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