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April 20, 2018 | Jake, It’s Chinatown

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.

The stock market has been on autopilot all week, but permabears shouldn’t give up hope quite yet on the possibility that Wall Street will have a massive coronary before the week ends.  Just in case, I’ve offered two jackpot bets in AMZN in the chat room.  Far from being on autopilot, the stock has acted as though someone put fire ants in its pants. Our put/call bets straddle the question of up or down, although it’s hard to imagine a chart like the one shown producing a top, especially in the early going. It’s Friday, and anything can happen. To borrow a famous line from the movies: “Jake, it’s Chinatown”.

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April 20th, 2018

Posted In: Rick's Picks

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