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April 26, 2017 | Too Fatigued to Pretend

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.

Five hours’ worth of nervous distribution on Wednesday left the broad averages too depleted to rally into the closing bell. Instead, they took the path of least resistance and headed lower, tipping their hand for tomorrow. Barring unforeseen news that could stir the market’s bullish juices, we should look for the weakness to persist into week’s end. That would imply surrendering most or all of the gains achieved when word of Marine LePen’s failure to capture the French presidency hit the tape Sunday night.

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April 26th, 2017

Posted In: Rick's Picks

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