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January 25, 2018 | What If Farmer Brown Lived on Wall Street?

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.

Even with some considerable drag from AAPL, the world’s most valuable publicly traded company, the broad averages chugged effortlessly higher Thursday, extending their seldomly rebuked winning streak to yet another record high. Apple shares fell 1.5%, but this loss was more than offset by lunatic-powered rallies in AMZN, BA and NFLX.  Respectively, they rose 1.5%, 2.6% and 3.1%. It was all in a day’s work for these high-fliers, although it’s less work than it might have seemed, given that there are no aggressive institutional sellers of any of these stocks. If you want’ em, you’ll have to pay up!  The investment geniuses on Wall Street have a great thing going for them in comparison to those who actually work for a living. If AMZN, BA and NFLX were seed crops, farmer Brown could sleep till noon every day, whittle balsa tractors, tie flies and fish steelhead until suppertime, imbibe  Justified, Banshee and Game of Thrones all night long, and still clear a million dollars a year after expenses.

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January 25th, 2018

Posted In: Rick's Picks

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