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February 18, 2019 | Mr. Market’s Intentions

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.

Although it’s fun to bad-mouth the rally, the yo-yos who have stoked it could win in the end. From the moment stocks took off on December 26, we’ve assumed it was just a bear rally designed to fool everyone into thinking new highs were actually possible. It would need to be powerful enough not only to convince the rubes that this was so, but to switch off the warning circuits in the brains of hardcore permabears such as your editor.  We remain skeptical that new highs are coming, even as we put our rational thoughts aside to consider solely the evidence on the charts. No matter what happens, we should keep reminding ourselves that Mr. Market’s primary mission is to fool as many investors as possible, and to wreak havoc on the most astute assumptions of bulls and bears alike.

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February 18th, 2019

Posted In: Rick's Picks

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