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March 18, 2018 | Watching the Tide Roll in…or Is It Out?

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.

A new week, and who knows what it might bring? From a technical standpoint stocks look like they are itching to fall, if only to set up the bounce that would put the broad averages on course for new record highs. A week-long buying frenzy would more than do the trick. However, there was nothing in last week’s tired price action to suggest Mr. Market is eager to accommodate anyone’s schedule. Sometimes it’s difficult to tell whether the tide is ebbing or flowing; this is just such a time.

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March 18th, 2018

Posted In: Rick's Picks

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