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August 13, 2020 | Why No One’s Breaking Out the Bubbly

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.

Shhhh! Don’t look now, but the S&Ps have tiptoed up to their all-time highs, presumably to attempt a quarterback sneak on Friday that would mute the hubris when they cross the goal line. DaBoyz don’t want to jinx the rally or call attention to its surreal nature. After all, except for a handful of grotesquely overvalued tech stocks and some fast-food chains, America’s economy, its largest cities and commercial real estate everywhere are slipping into a full-blown depression. Under the circumstances, the revelry on Wall Street is more than a little unseemly. In fact, it is a civilizational embarrassment whose dire consequences our children, their children and their children’s children will be living with for the next hundred years.

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August 13th, 2020

Posted In: Rick's Picks

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