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April 23, 2017 | Traders Jump on Bet that LePen Will Lose

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.

DaBoyz have goosed stocks punitively to start the new week, emboldened by LePen’s failure to win France’s presidential election in the first round. Although we usually prefer to fade extreme price moves when they are driven by news, in this case the bulls may have it right if LePen loses the May 7 run-off to centrist Macron. We’ll get a confident read on whether this is likely to happen if the E-Mini S&Ps decisively exceed the 2378.38 midpoint Hidden Pivot shown, since that would put the futures on track to hit the 2439.00 target shown. Such a powerful rally seems likely to occur only if France averts the epic disaster predicted by the new media and elites should ‘Trump candidate’ Marine LePen, who favors pulling out of the EU, become France’s new president.

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April 23rd, 2017

Posted In: Rick's Picks

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