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April 13, 2018 | Here’s the Plan for a Boring Friday

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.

Consumer sentiment is the only news on the economic calendar for Friday, so the stock market will be on its own if DaBoyz are intent on stirring up some craziness to end the week. Thursday’s rally was strong but hardly insane, and the moderate selloff in the final 30 minutes should help dry up selling overnight. Accordingly, we’ll be looking to fade moderate weakness on the opening, so check the chat room for a possible ‘jackpot bet’ if you want to try leveraging a possible reversal on-the-cheap. _______ UPDATE (April 13, 1:15 p.m. EDT): In retrospect it is moderate strength we need have faded, but this will always be a coin-toss bet. Next time, we can be prepared with two such bets, one in either direction.  A bid for Apr 13 1635 puts would have produced a winning outcome today, since the option traded down to 1.04 in the first 15 minutes before climbing above 4.00 shortly thereafter.

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April 13th, 2018

Posted In: Rick's Picks

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