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October 4, 2017 | Boeing Refutes the Permabear’s Creed

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.

It’s been a struggle lately trying to find something meaningful to say about the stock market from one day to the next. It keeps going higher is all, and you can pick your reasons. Enchanted with the idea of Dow 30000? Then cross your fingers and hope Trump finds a way to ent1ice all that surplus corporate cash held overseas back into the USA.  It’s Dow 25,000 that’s hard to explain, since it’s a business-as-usual target without the exuberance of a macro tax-windfall. Then again, business as usual is pretty good if you’re Boeing, which seems poised to sell passenger jets to a world on the brink of a middle-class explosion. Are we perhaps being a little short-sighted when we look for major tops with every hundred-point leap in the Dow?

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October 4th, 2017

Posted In: Rick's Picks

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