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July 31, 2017 | What If AMZN Were to Reverse Sharply?

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.

If most stocks have been able to waft effortlessly higher when AMZN, by far the most important stock of them all, has been getting trashed, just imagine what they could do with AMZN in bullish gear. This could happen soon, since the retailing giant’s shares are closing fast on a correction target at 975.80 where the stock could reverse direction with a vengeance.

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July 31st, 2017

Posted In: Rick's Picks

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