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March 21, 2018 | Stocks Set to Plummet on a Dearth of ‘Good’ News?

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.

It was predictable that DaBoyz would attempt to sucker rubes into buying stocks ahead of Wednesday’s dog-bites-man announcement from the Fed. The only surprise is that when the announcement of a universally expected 25-basis-point hike came at 2:0o p.m., the Dow and S&Ps did not reverse with a vengeance; instead, they sold off moderately to finish slightly lower on the day.  Look for the selling to pick up steam, since DaBoyz have so little to work with on the news front. Search as they might for ‘bullish’ headlines, their benighted lackeys in the news media have gone off the reservation, obsessing over Trump-and-the-Russians drivel that most of us tuned out six months ago. If that’s the only news the media hacks can gin up in these all-too-interesting times, the stock market is about to pass out from a lack of oxygen

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March 21st, 2018

Posted In: Rick's Picks

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