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September 26, 2017 | Nut-So Market Challenges Traders to Their Core

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 stock market’s gratuitous price swings have become so tedious and exhausting lately that it would be tempting for serious market-watchers and traders to take a month off. Mr. Market is surely trying to tell us something, but exactly what may lie beyond a rational person’s patience and understanding. My gut feeling is that the bull market begun in 2009 is in its death throes, unable to make headway against grave political and economic uncertainties that should have killed buyers’ enthusiasm long ago. And yet, if one were to focus on the prospect of a mass repatriation of corporate cash being hoarded overseas by U.S. multinationals, it is not farfetched to imagine the Dow at 30,000. In any event, all that we as traders and investors can do in the meantime is hope to catch a gust now and then that pushes stocks into a trend that was mildly foreseeable. It’s not much to ask — but then, answering prayers was never Mr. Markets specialty.

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September 26th, 2017

Posted In: Rick's Picks

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