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February 6, 2018 | Boeing’s Rally Will Determine If the Bull Is Really Dead

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.

Boeing [BA], which has long topped portfolio managers’ list of own-or-die stocks, is the only performer we need watch on Wednesday to settle the question of whether the bull market is dead. From the look of things at Tuesday’s close, the stock is eager to put the fear of the lord in bears’ hearts, and to rebuke the news media for all those scary, hand-wringing stories they’ve trotted out over the last couple of days.  I’ve provided some precise benchmarks in BA’s chart (see below) so that you can follow the action knowledgeably and judge for yourself.  Bottom line:  If the stock pushes past 350 over the next day or two, the case for a bear market will be as dead as Kelso’s nuts.

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February 6th, 2018

Posted In: Rick's Picks

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