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April 3, 2018 | AMZN Traders to Trump: “Up Yours!”

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.

Stocks lifted off late in Tuesday’s session, inspired by who-knows-what.  Sometimes it’s hard to predict what kind of news is going to warm Wall Street’s obsidian heart, but there are days when bulls seem to thrive on bad news. There was plenty enough of that, including some headlines about the ever-expanding — at least in Trump’s mind — list of tariffs to be levied against China: everything from semiconductor chips to medical devices to flamethrowers, according to a story at Bloomberg.com.  Trump also kept the heat on Amazon, his least favorite company, with an unfriendly tweet. AMZN shares shrugged it off and rallied sharply in the final hour. “Up yours!” traders seemed to be telling the President.  If that’s what makes stocks fly these days, then the President’s next snit can’t come too soon.

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April 3rd, 2018

Posted In: Rick's Picks

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