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February 7, 2019 | Dread the Interesting Day

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 we usually come to our trading desks Friday morning intent on fading the opening bar with the purchase of put or call options, there was little to inspire this as the dust settled on Thursday. Was the weakness signaling a reversal of a rally that has been relentless since Christmas Eve? If so, we’re not likely to see put options on sale at the bell. It also means that the Dow’s 220-point plunge could provide a running start for even more serious damage as the week ends. Brace for an interesting day in any event.

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February 7th, 2019

Posted In: Rick's Picks

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