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September 1, 2020 | Something for bulls AND bears to root for….

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.

An interesting day, Hidden Pivot-wise. AAPL topped 0.03% from a rally target I’d drum-rolled before the split, and the Dollar Index bounced sharply from within six cents of Hidden Pivot target that’s backstopped by a major trendline. Odds are against nailing the exact high in AAPL, which in dollar terms  is being driven by the most powerful and consequential buying mania in history, but we’ll have to see what the new day brings before we write off the target as just another flash-in-the-pan. The important thing is that many subscribers evidently made hay as AAPL rampaged toward the rally target. If the stock and the dollar have in fact begun major reversals, that would be a very big deal, since every other lunatic trend in motion since March is about to reverse as well.  The Nasdaq 100 did not look toppy at all, but that hardly negates the possibility that it is about to plunge into the molten pit of hell. Regardless of which side of the craziness you’re on, you can cross your fingers and root for a satisfying outcome.

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September 1st, 2020

Posted In: Rick's Picks

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