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September 20, 2018 | Buying Spree Is Crushing Volatility

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.

Volatility has taken a pounding this week and looks poised to head even lower. That implies that the nearly relentless rally of the broad averages is likely to continue at least for a little while before buyers take a breather. The good news, if you believe stocks need a reality check now and then, is that a promising target in VXX, an index that tracks short-term S&P volatility, could bottom as early as Friday. Check out the chart in the inset to see why.

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September 20th, 2018

Posted In: Rick's Picks

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