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July 23, 2019 | Any Sellers Out There?

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.

Stocks continue to move effortlessly higher, although there seems to be little enthusiasm driving the rally. Sellers appear to have abandoned the playing field, and who can blame them? The last time they caught a favorable breeze was in May, when the Dow actually finished significantly lower for two consecutive days on several occasions. Perhaps the 27,463 Hidden Pivot rally target proffered elsewhere on the home page (see DJIA tout below) will provide a respite?

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July 23rd, 2019

Posted In: Rick's Picks

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