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March 31, 2020 | Eye of the Storm

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.

America is in the eye of the storm, hunkering down for what Mr. Trump promises will be a “very painful two weeks.” Some may have gotten the impression that the economic pain could begin to ease then, but he was talking about the death toll and the rising count of infections. No one can say how long the economic fallout will continue, but the most optimistic estimate I’ve seen suggests the nation will lose perhaps a quarter year’s production. If so, that seems manageable, especially when you add in the Fed’s $2T rescue package and stepped-up unemployment benefits that in most cases will equal lost pay.  In the meantime, fear seems to have ebbed from the stop market, even if there is insufficient enthusiasm at the moment to push stocks into a sustained rally.

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March 31st, 2020

Posted In: Rick's Picks

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