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October 6, 2020 | An L-Shaped Recovery in Our Future?

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.

Let’s see if The Bull Market That Wouldn’t Die can shrug this one off. Trump postponed stimulus talks until at least after the election, causing a 600-point reversal in the Dow Industrials. With no stimulus in sight, all of those would-be dollars from the sky won’t get spent by holiday shoppers.  They are usually unstoppable themselves, although 2020 has seemed likely to produce, from the standpoint of retailers, a k-shaped Christmas. That’s when pandemic-proof upper-middle-class shoppers go all-in on Patek Philippe wristwatches and goose-down comforters while most Americans have to settle for Kohl’s gift cards. If stocks plunge in October, that could flatten the shopping curve somewhat, ringing in the New Year with an L-shaped recovery.

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October 6th, 2020

Posted In: Rick's Picks

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