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July 10, 2018 | Fear Takes a Holiday

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.

Last night’s commentary explained away a 300-point Dow rally earlier in the day by noting that Wall Street seems blithely unconcerned about the growing tariff war. Tonight, index futures are getting socked hard — and can you guess what is being touted by Bloomberg.com as the cause?  You guessed it:  tariff wars!  My suggestion is to tune out such blather and focus solely on the charts. At the moment, they suggest that fear remains on holiday no matter how many truly menacing concerns continue to pile up against a bull market that yesterday entered its 113th month.

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July 10th, 2018

Posted In: Rick's Picks

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