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September 4, 2019 | The Tariff-War Gift That Keeps on Giving

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.

DaBoyz have goosed index futures Wednesday night on ginned-up news about trade talks resuming again in October. Raise your hand if you were unaware that the talks had stopped in the first place. Regardless, renewed ‘optimism’ about the outcome of the tariff war has once again sent shorts scrambling for cover. It has also reversed a two-day rally in gold, which has held up well despite having to swim upstream against the bullish mindset on Wall Street.  Check out my target for the E-Mini S&Ps (below) if you want to see how high the S&Ps can go over the next day or so. An easy move past the target would imply that there is still significant buying power percolating beneath the surface.

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September 4th, 2019

Posted In: Rick's Picks

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