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May 30, 2019 | Oh-So-Subtle Fed Shifts into Second Gear

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.

Thursday’s price action was as slow as we’ve seen in a while. This is curious, since there was news out intraday that the Fed “might” “consider” easing if economic conditions deteriorate. My hunch is that we’ll see a delayed-reaction rally on Friday, DaBoyz evidently having been unwilling to waste the news on a day when stocks seemed too lethargic to respond to stimulus. It came from a panel discussion involving a Fed official rather than from an actual Fed news release. That’s what it will take to put the central bank’s imprimatur on a policy change. Expect this within the next couple of weeks, if not sooner.

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May 30th, 2019

Posted In: Rick's Picks

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