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September 16, 2018 | Autumn’s Here, and Stocks Are Priced for Perfection

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.

So much for summer doldrums. The broad averages have tacked on nearly 10 percent since June, with no hint that the torrid pace will cool with the official start of autumn later in the week. But isn’t that always the case before a new market paradigm surfaces, often with the subtlety of electroshock therapy?  Indeed, Mr. Market has historically been at his most wrenching come October, and it is perhaps only waxing expectations of this in recent years that has tempered his inclination to mete out punishment to the unwary. The Dow Industrials, playing catch-up with indices skewed toward the digital economy, look eager to test January’s record high at 26616. The requisite 462-point rally could happen as early as this week, and while it would appear that the Indoos will have little trouble getting there, there’s no reason to be complacent, much less ebullient, when the headlines trumpet the news.

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September 16th, 2018

Posted In: Rick's Picks

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