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February 11, 2019 | The Art of the Lousy Deal

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.

Trump and his political enemies are close to a deal on a border wall, but if either side has the chutzpah to take a victory lap, it’s going to be one celebration too many for millions of Americans. We can leave it to news commentators on the left and right to sort out who got what. If it makes the country’s southern border less porous, it’ll at least be a small victory for taxpayers.

The border war has had little if any impact on the stock market. The tariff war with China, on the other hand, has subjected stocks to a roller coaster ride since spring. The effect has become more muted recently, probably because the expected outcome — i.e., the “deal” Trump is liable to get from Xi Jinping — is unlikely to be any more constructive or meaningful than the budget about to be passed on Capitol Hill. Under the circumstances, a tariff agreement has the potential to end the presumptive bear rally on Wall Street. Buy the rumor, sell the news, as the saying goes.

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February 11th, 2019

Posted In: Rick's Picks

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