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January 11, 2018 | Treasury Rates and Crude Break Out

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.

Treasury rates and the price of crude oil have broken above key Hidden Pivot resistance points this week, a technical event whose significance is explained in the relevant ‘touts’ below. Although I have serious doubts that the inflationary spiral economists have been breathlessly predicting for the last 25 years is coming, I’d have to concede that the pace of economic growth in the U.S. and elsewhere seems likely to quicken. In any event, my long-term skepticism toward the ‘supply-side’ story that has driven energy’s advance has given way to a ‘demand-side’ story that would necessarily include a strong resurgence in China’s manufacturing output. Commodities would participate in such a resurgence as well, so look for more technical coverage on this page as the trend progresses.

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January 11th, 2018

Posted In: Rick's Picks

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