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October 1, 2017 | Profiting from Getting in Harm’s Way

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 proved nearly untradeable last week — a series of tiny daily gains punctuated in each instance by a nasty swoon.  DaBoyz were clearly intent on marking up stocks to end the quarter, and woe to any bear who got in their way.  We did, very briefly, with very tightly stopped shorts in DIA and the E-Mini S&Ps that allowed us to test the water without risking much. My E-Mini S&P tout for Monday advised a short that has triggered Sunday night. There is a $200 gain per contract in the position at the moment, so night owls should check my latest update for further guidance.

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October 1st, 2017

Posted In: Rick's Picks

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