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September 11, 2019 | Bear-Powered Perversity

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.

Elsewhere on the page, I’ve given my reasons for buying bullion and put options less aggressively than I’d intended just a few days ago. Apple shares popped in a big way Wednesday, and that’s what changed my mind. The stock market sometimes rallies at peculiar times, and this is one of them. September is historically the worst month for shares, and this September in particular has been fraught with scary headlines about a weakening global economy. The Fed has validated our fears by kowtowing to Trump’s repeated calls for easing.  The markets have a perverse way of moving opposite expectations. If it were otherwise, we’d all get rich by simply following the trend. With stocks moving steeply higher, it is becoming more obvious by the day that the herd began September expecting the worst.

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September 11th, 2019

Posted In: Rick's Picks

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