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August 24, 2017 | Have DaBoyz Already Left for the Hamptons?

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.

Has Wall Street already left for the Hamptons?  Although there are still six trading days remaining until Labor Day, the markets seem to have gone comatose earlier than usual this year.  Typically they wait until the Tuesday or Wednesday preceding the holiday before flatlining. This time, though, with no particularly interesting themes developing in the news, DaBoyz seem to have abandoned their favorite pastime: providing daily hot-air-balloon rides for anyone who shows up.  My gut feeling is that “nothing” will happen between now and Monday, September 4.  A pregnant pause, perhaps? Whatever the case, it is difficult to imagine that the broad averages will continue to chill when traders return in earnest to their desks.

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August 24th, 2017

Posted In: Rick's Picks

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