- the source for market opinions


August 22, 2017 | Will Hindenburg, Eclipse Turn Out to Be Duds?

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.

With this week’s solar eclipse and the recent flashing of yet another Hindenburg Omen, traders should probably be braced for Armageddon.  Alas, the stock market has a way of thwarting preparedness by boring to death those who would attempt it. And if millions of traders are indeed ready for the worst at this moment, you can bet that Mr. Market will be on his best behavior.  I’d just about given up on a 10.24 target for VXX, which, if reached, would imply that already brain-dead volatility is about to sink even lower. Perhaps it’s time to dust this target off?

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

August 22nd, 2017

Posted In: Rick's Picks

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.