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January 29, 2020 | AAPL May Be Nuts, but TSLA Is…Freakish

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.

A stock-market rally fizzled for a rare change, possibly because AAPL’s after-hours leap Tuesday on strong earnings wasn’t quite strong enough to knock the crowd’s socks off. It was impressive, to be sure — a 19-point jump amounting to about 6%. But this evidently wasn’t quite powerful enough to be regarded as freakish. Tesla demonstrated what freakish is all about after the close, ripping shorts’ testicles off with an 84-point thrust to a so-far high of 659.95.  This is unlikely to have a discernible impact on the the broad averages as the week draws to a close, however, because TSLA, unlike AAPL, is not regarded as a respectable stock that moves higher to discount future earnings, but rather as a rabid badger impelled by one of the most vicious short squeezes in history. TSLA reported ‘strong’ Q4 earnings after the close, and the imbeciles who were short ahead of this news richly deserved what they got. So will the analyst who ostentatiously predicted TSLA will hit $6000 a share, but that will be another story for another day.

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January 29th, 2020

Posted In: Rick's Picks

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