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August 19, 2019 | A Challenge to Get Short, No?

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.

The selloff from late July’s record peaks seems likely to resume once the last short has been exhausted by wild, daily price swings.  Any rally attempt feels doomed, if only because it has been so challenging to get short lately. Whether the broad averages will need to pop to new record highs or merely poke above last week’s peaks in order to trap bulls should be settled by week’s end. Whatever happens, we can be sure that the relentless onslaught of deeply troubling headlines is unlikely to cease as summer winds down. So oppressive has the news been that the alleged suicide of Jeffrey Epstein, pimp to America’s rich and powerful, could almost seem like comic relief.

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August 19th, 2019

Posted In: Rick's Picks

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