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April 30, 2019 | And Now GOOG Has Joined the List of ‘Dead Stocks Walking’

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.

Google joined my list of ‘dead-man-walking’ stocks — companies facing revenue slowdowns for one reason or another but which have inexplicably rallied sharply in recent months.  The shares of Boeing, Apple and Facebook are in this category as well, for reasons that are well known and which I have written on extensively. This doesn’t preclude my forecasting higher prices based on their respective charts, but it does imply there will be a day of reckoning somewhere down the road. The Dow could rise a further 1400 points before this happens, however, demonstrating once again the bull market’s determination to remain blithely disconnected from economic reality.

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April 30th, 2019

Posted In: Rick's Picks

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