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August 21, 2018 | Shysters Pull a Fast One in After-Hours Trading

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.

Index futures have plunged in after-hours trading, presumably on news that Trump’s former campaign manager, Paul Manafort, has been convicted of fraud. Does Wall Street actually care about this?  Not one bit. So why are stocks falling?  Simply because the traders who ‘work’ the news each night think it will trigger widows and pensioners into dumping their shares at fire-sale prices. However, I am advising Rick’s Picks subscribers who held short positions in the E-Mini S&Ps from today’s high to cover most of it before DaBoyz run up the shares they are at this moment stealing from the gullible and the unwary. Their phony, fright-wig tactics remind me of Oscar Wilde’s crack that “One would have to have a heart of stone to read the death of little Nell without dissolving into tears…of laughter.’ And so it goes with those who evidently believe that Manafort’s conviction will hold back a bull market that is manipulated 100% of the time by shysters, carny men and lunatics.

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August 21st, 2018

Posted In: Rick's Picks

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