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February 4, 2019 | The Next 400 Points

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.

DaBoyz are putting most of their energy and effort into a relative handful of institutional favorites (aka  “lunatic stocks”), including AAPL, BA, FB, NKE and GOOGL. The goal of the stock market’s masters is to waft the broad averages higher using short-covering for fuel, and to distribute as much stock as they can ahead of the next big downdraft. They’ve been quite successful at it so far, producing a record-breaking January. How long can they keep it up? For at least another 400 Dow points, assuming my forecast for the E-Mini S&Ps pans out. Currently trading for 2717, they look bound for a minimum 2759. This might not prove to be the top of the bear rally, but it could stop the buying spree long enough for us to squeeze off an opportune short.

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February 4th, 2019

Posted In: Rick's Picks

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