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November 17, 2016 | Ready to Have Your Expectations Managed?

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.

Thursday will be a big day for the kind of manufactured ‘news’ that can move markets. Fed clown-in-chief (and imminent lame duck) Yellen is scheduled to speak at 10:00 a.m. Eastern, presumably to obfuscate whatever genius plan the central bank is thought to be hatching for December.  You can bet the news media will be glued to their monitors for this momentous event, eager as always to have their expectations managed, and that they will get a headline out of it even if all she does is mumble and drool for 15 minutes. To make the day even more interesting for the fawning, in-the-box thinkers charged with shaping public opinion, the latest stats for CPI, housing starts and jobless claims are due out an hour before the opening bell. Our gut feeling is that stocks will end the day moderately higher, but that there will be some crazy swings along the way. Yes, this is betting on the favorite, but at least we’ll have a horse in the race to make the day halfway tolerable.

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November 17th, 2016

Posted In: Rick's Picks

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