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September 11, 2018 | DaBoyz Are Solidly in Command of Two Key Stocks

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.

When two key stocks, AAPL and AMZN, topped last week at important Hidden Pivot resistances, I put out the yellow flag. However, the stocks’ canny sponsors were in such complete command on Tuesday that there can be little doubt that they aim to take them both to new record highs shortly. The stocks opened on stage-managed weakness, spring-loading them for short-squeezes that had bears scrambling for cover all day.  The Dow was up only 114 points, but if AMZN and AAPL keep up the pace, the broad averages are likely to catch fire as well.

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September 11th, 2018

Posted In: Rick's Picks

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