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November 26, 2018 | A Mechanical Solution for Fear and Doubt

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.

I advised subscribers who got long in AAPL Monday to take partial profits on the $4 rally that ensued, since you never know. Although my latest update for the stock raises the possibility the rally is just getting started, we shouldn’t rule out the equally plausible scenario that AAPL is about to get hammered again. DaBoyz have pulled their bids in after-hours trading, causing the stock to give up nearly the entire day’s gain in the space of a few minutes. This feels to me likely a sleazy ploy to shake loose some shares before They run AAPL up again. But we should always book a least some of our gains reflexively no matter what we expect, since buy-and-hold will always be fraught with thrills, chills and spills that are going to play on our fears and doubts.

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November 26th, 2018

Posted In: Rick's Picks

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