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January 2, 2019 | Too Much Bad News Could Be Good News

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 is getting hosed in after-hours trading on news that the company had lowered its sales estimate for Q1. The economic slowdown in China that has caused this is bound to persist and grow worse, but my gut feeling is that Apple shares have taken enough pounding lately to be ready to rally on bad news. In the touts section I’ve suggested a couple of way to play it, using ‘mechanical’ set-ups in either AMZN or the E-Mini S&Ps. Both have high initial risk, but you may be able to cut it down to size by substituting a ‘camouflage’ entry in either. There’s always call options in AAPL itself, or in any other vehicle, but you’ll have to wait till morning if you decide to play it that way.

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January 2nd, 2019

Posted In: Rick's Picks

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