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December 10, 2018 | AAPL’s Handlers Hellbent on Levitating the Stock

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.

AAPL, our #1 stock-market bellwether, turned sharply higher from the ‘wrong’ place Monday, reversing off a 163.73 low that lay fully $3.50 above our target. This suggests bears still have some work do do, although, given the ferocity of yesterday’s short squeeze, they can be pardoned for not wanting to risk impalement just to look courageous. AAPL’s bellwether status is more secure than ever at the moment, since the institutional chimps who manipulate it and who have made Apple The World’s Most Valuable Company will need to do some serious levitating between now and New Year’s Eve to have a shot at recouping bonus money lost in this autumn’s market sell-off. It’s all right to bet against them, but we should look to straddle the bet as cheaply as possible.

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December 10th, 2018

Posted In: Rick's Picks

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