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May 31, 2017 | Bears Look Eager to Capitulate…Again

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.

A week shortened by the Memorial Day holiday produced a session filled with gratuitous price swings that left the broad averages largely unchanged. Even so, shorts were caught in the ringer at the closing bell, suggesting it’s possible the S&Ps will trade at a new all-time high in the early going Thursday. If they end the day in record territory, bears had better dive for cover ahead of the weekend.  Fridays have not lived up to their reputation for freakiness in recent months, but this one could be an exception.

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May 31st, 2017

Posted In: Rick's Picks

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