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July 6, 2017 | North Korea Is on Investors’ Radar

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’s moderate selloff provided a refreshing breeze for bears, but it won’t mean much if they can’t extend the decline for a second straight day. The Dow fell 158 points but would need to fall a further 162 points to damage the bullish look of the hourly chart. The precise number is 21159, and if the Indoos were to hit it by the close, that could spell trouble next week. Regardless, the broad averages have felt heavy lately, seemingly unable to get any lift from the news. Geopolitical events have had very little impact on the bull market, but the increasingly grim situation involving North Korea could be enough worry traders even if nothing quite spooks them.

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July 6th, 2017

Posted In: Rick's Picks

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