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January 21, 2018 | Dow Races Toward an ‘Interesting’ Number

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.

When the week ended, the Dow was racing toward a 27251 target I posted here two weeks ago. The blue chip average was trading for around 25,300 at the time, and I would not have expected it to be closing on my number so soon. However, we’re getting more accustomed to this kind of price action with each Hidden Pivot target achieved. This one lies nearly 5% above Friday’s close, meaning that even after the steep run-up of the last few weeks, there could still be an excellent opportunity for traders to make money on the long side before buyers get winded.  If you’re one of them, I’d suggest staying close to the chat room to stay apprised when it matters.

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January 21st, 2018

Posted In: Rick's Picks

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