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September 25, 2017 | Climbing a Wall of ‘What, Me Worry?’

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.

The broad averages flatlined all week, punctuated by a few moments of silliness and hysteria on Wednesday when the Fed announced…well, what was it they announced?  Whatever the banksters promised, or perhaps threatened, traders will likely put it behind them when Wall Street’s carnival midway re-opens for business on Monday. Meanwhile, with one foot on the fire escape, I’ve drum-rolled a 2524 rally target in the E-Mini S&Ps that would equate to a 200-point rally in the Dow.  If it is easily surpassed, that would bring into play a Dow target above 23000 that I first broached here eons ago. Seems the wall of worry is working, with the latest, brazen threats from Kim Jong Un-sane having the same effect on the bull market as a sandstorm in the Gobi Desert.

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September 25th, 2017

Posted In: Rick's Picks

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