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November 14, 2017 | Bored? Be Careful What You Wish for…

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.

Elsewhere on the page I’ve predicted a boring stretch for the stock market because AAPL for a rare change has the blahs. This probably won’t last much longer — it never does — but there’s no way the broad averages are headed higher as long as Apple shares are taking even baby steps lower.  If there is market risk here, it comes from the prospect that the October CPI number due to be released today will come in lower than the expected 1.70%. If so, the Fed’s tightening project, already lacking in credibility, would be even more in doubt. The datum will be announced at 8:30 a.m., an hour before the NYSE opening bell. Index futures were trading lower Tuesday night, seeming to discount a weak inflation number. As traders, we’re probably blessed not to know what the number will be.

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November 14th, 2017

Posted In: Rick's Picks

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