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January 5, 2018 | Are the Big Guns Just Warming Up?

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.

We now see that DaBoyz were saving their firepower in those final, sluggish weeks leading up to 2018. The tactic of goosing the market into a vertical parabola as the new year begins is bound to scare off sellers. If so, we should see the broad averages accelerate to the upside over the next week or two. Which is to suggest that the 152-point rally in the Dow on Thursday was just a warm-up. Even if so, I’ve proffered a rally target in the E-Mini S&Ps that can help us determine whether to dive in ourselves, or simply marvel and be entertained by it.  However things play out, it won’t be brute sellers who end the party, but tired buyers who are harder to detect.

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January 5th, 2018

Posted In: Rick's Picks

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