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August 15, 2017 | Three Key Stocks Turn Higher

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.

Three important stocks — AMZN, Boeing and AAPL — have all rebounded sharply from within a hair of targeted correction lows. How far will they get? The answer seems clearest in AAPL, which looks to be a shoe-in to reach a 168.33 Hidden Pivot target that lies $7 above current levels. It is most unlikely that the broad averages would trade lower with AAPL bulls on the march.  Traders, especially case-hardened bears, should plan accordingly.

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August 15th, 2017

Posted In: Rick's Picks

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