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December 26, 2019 | Gold’s Straight-Jacket Escape

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.

We’ve become used to seeing gold struggle for loft when stocks are rallying because the chimpanzees who move the markets can’t handle the implied mash-up of risk-on/risk-off strategies.  Lately, though, bullion has notched some sweet gains with stocks in their by-now reflexive rally mode. Bulls should take encouragement from the moderate surge in gold under way late Wednesday night. With the E-Mini S&Ps trading five points higher, Comex February Gold has been up as much as $5, extending a $25 gain recorded over the last few sessions. If it picks up a little steam, the rally could soon reach the 1529.50 target first broached in Rick’s Picks two weeks ago, when a ‘buy’ signal triggered at 1491.30.

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December 26th, 2019

Posted In: Rick's Picks

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