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October 28, 2020 | Have Plummeting Stocks Sniffed a Biden Win? Here’s a Bullish Explanation…

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.

Stocks have gotten hit hard this week.  Have investors perhaps caught a whiff of a possible Biden victory and the damage he and his socialist running mate would inflict on American businesses and the middle class? That’s one explanation, and I raised the possibility here numerous times over the last several weeks that it could occur, even if it was highly unlikely. In any event, the stock market is a lot smarter than the pollsters, and therefore probably better at predicting Tuesday’s winner. However, Wall Street is also a sleazy carnival midway on a giant scale, and so it can be assumed that regardless of which way shares are moving on a given day, there is a reason for it that suits the needs of the market’s Masters.

Covid Lie Helps

So why would they want stocks to fall? My theory is that because they are pretty certain Trump is going to be re-elected, they’ve pulled their bids in order to accumulate shares at fire-sale prices. This would position them for the huge rally that is all but certain to follow a Trump victory. Manipulating the markets in this way is especially easy with the news media promoting the lie that Covid-19 has gone out of control.  They’ve hammered this phony story lately because they think it will help defeat Trump. If it scares you, relax — I am still predicting that Trump will win by a landslide, and as for the virus, cases are expanding simply because testing has greatly expanded. Rick’s Picks subscribers will be getting ready for the big rally by laying in some cheap call spreads for spectacular leverage. If you don’t subscribe, click the trial offer button near the top of this page and join the fun. See you in the chat room!

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October 28th, 2020

Posted In: Rick's Picks

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