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August 14, 2017 | Will Wall Street Keep Its Cool if Kim Nukes L.A.?

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.

Kim Jong Un was nowhere to be found Monday night, prompting headline speculation that he was preparing to launch a new missile to celebrate a public holiday. Wall Street was unfazed as always, thumbing its nose at the threat of nuclear war with a 135-point rally in the Dow Industrials. Talk about attitude!  In fact, as I noted here the other day, even a test-firing must be treated as a possible attack, since we won’t know until a missile is well aloft where it might be headed.  If Los Angeles is destroyed in a fireball (see inset), it’s hard to imagine how traders might react. My guess is that they would keep their cool, opening stocks moderately lower with the intention of applying a short-squeeze ahead of the evening news. As for Guam, how many of them could even find it on a map?

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August 14th, 2017

Posted In: Rick's Picks

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