December 19, 2019 | Boredom Could Stoke a Friday Rally

The stock market’s week has been so tedious, even with an impeachment, that we shouldn’t be surprised if something happens to cause traders to emerge from their coma. A compelling trendline that I’ve mentioned here before implies the surprise would likely be to the upside, since the Dow Industrials would need to rise 500 points to reach it. The actual number is 28,692, and wouldn’t that be a shocker! Most unexpected of all would be for this to happen following a slow start. If the opening looks weak, as in ‘stage-managed’, don’t be afraid to take a small speculative stake in some cheap out-of-the-money calls in the FAANGs, TSLA, MMM or MSFT.
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Rick Ackerman December 19th, 2019
Posted In: Rick's Picks