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April 25, 2018 | Enjoy AMZN Short Squeeze While It Lasts

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 slew of economic reports are due out on Thursday — a string of small firecrackers that is unlikely to have much effect on the markets.  First up will be durable goods orders, followed by jobless claims, retail inventories and money supply. At one time or another, Wall Street has obsessed over each; these days, none seems capable of producing even a hiccup in the broad averages.  Overshadowing them all will be the release after the close of Q1 earnings for Amazon.  The mere anticipation of this is driving the stock higher in after-hours trading. What a racket!  It would seem that the same guys who pounded the stock all week are having second thoughts. Did the 153-point plunge they caused overdo it? Probably not, but that hasn’t mitigated the flurry of short-covering responsible for tonight’s so-far 27-point climb.

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April 25th, 2018

Posted In: Rick's Picks

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