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March 29, 2017 | Short Squeeze Gains Momentum on Day Two

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.

The short squeeze begun on Monday picked up momentum on day two, strongly implying the rally will run for at least another day or two. There’s one ‘Hidden Pivot’ impediment 2378 in the way, but I’ve suggested in my latest update to the E-Mini S&P tout that traders not count on it too heavily to reverse the tide. Under the circumstances, it would not be premature to focus on a 2439 rally target that lies 85 points above. If it’s reached, the move would equate to a nearly 800-point rally in the Dow.

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March 29th, 2017

Posted In: Rick's Picks

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