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January 24, 2018 | Worst Bet of the Decade

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.

I’ve drum-rolled numerous rally targets over the course of this nine-year-old bull market, some ostensibly capable of stopping the herd in its tracks. A few worked beautifully — for a few days, anyway. But none contained buyers for much longer than that. Now, both the E-Mini S&Ps and the Dow are rapidly approaching the very last long-term targets I can offer that have what might be called eye appeal. I am not spotlighting either of them because betting against this bull has become like betting against Tom Brady, the Patriots’ aging but nonetheless still-potent quarterback. I should mention as well that the E-Mini S&Ps pattern that produced the ‘interesting’ target just above is one of the strangest I’ve ever used. It comes from a composite chart and is therefore unlikely to work with penny-precision, assuming it works at all. Even so, you should check it out, along with the chart, in the E-Mini S&P tout below. You never know.

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January 24th, 2018

Posted In: Rick's Picks

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