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March 4, 2018 | Everybody Back in the Pool! Not So Fast…

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.

Two key bellwethers, AAPL and Boeing, looked poised on Friday to lead the market higher when trading resumes Sunday night. However my latest update for the Dow Industrials is skeptical about the staying power of this rally. It looked like knee-jerk short-covering, and although that is no reason to get in buyers’ way, we should be cautious before joining in the revelry. My hunch is that it will be short-lived.

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March 4th, 2018

Posted In: Rick's Picks

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