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July 5, 2017 | One-Decision FAANG Stocks Are Too Enticing to Shun for Long

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.

Index futures were quiet Tuesday night ahead of what remains of the holiday-shortened week. The theme du jour has been rotation out of tech and into just about everything else, particularly bank stocks (which have turbocharged their ascent with record share-buybacks). However, this aberrant behavior on the part of fund managers is unlikely to last, since their obsidian hearts just aren’t into it. Their first love — not to mention, their bread and butter — is the FAANG/lunatic high-flyers, as we know. The ease of making big bucks by simply throwing Other People’s Money at a handful of one-decision stocks is just too attractive to pass up. And the beat goes on.

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July 5th, 2017

Posted In: Rick's Picks

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