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October 12, 2017 | Yellen’s Chance to Crap Up Your Weekend

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.

Friday could be challenging, since Her Nibs, Fed obfuscator-in-chief Janet Yellen, will be giving a speech on Sunday morning.  According to a press release, she “will join People’s Bank of China Governor Zhou Xiaochuan, Bank of Japan Governor Haruhiko Kuroda, and European Central Bank Vice-President Vitor Constancio to speak on ‘The Global Economy: Prospects for Broad-Based Growth’ at the 32nd Annual G30 International Banking Seminar in Washington, with audience Q&A.”  Nothing Yellen says, even a standard-issue rubber-chicken speech, is ever treated as a non-event, so don’t be surprised if stocks are preternaturally subdued on Friday in anticipation of this momentous event. We might even look for some nutty histrionics just ahead of the closing bell as traders place their bets.

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October 12th, 2017

Posted In: Rick's Picks

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