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September 4, 2017 | Mr. Market Makes Ready to Cripple and Maim

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.

I’ve been rhythming a few key stocks, looking for them to hit rally targets simultaneously to signal a possible end to the bull market begun eight-and-a-half years ago. AAPL has been number one on my watchlist ever since an erstwhile bellwether, AMZN, dropped out of the race with a plunge from a targeted high at 1083.31 that seems unlikely to be recouped any time soon. Every reputable guru in the business seems to be sniffing a top here, but don’t expect Mr Market to make us all look like geniuses. Whatever he’s got in mind, it is bound to surprise everyone — even those who will turn out to have been more or less right about the Mother of All Tops.

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September 4th, 2017

Posted In: Rick's Picks

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