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October 8, 2020 | Mashed Potatoes and Jello Lead the Charge

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.

AAPL looks like it will need to pull back to get a running start at $120, where supply is certain to be plentiful.  Freaky Friday could provide an opportunity to do it the easy way – i.e., with short-covering on any kind of news that could be construed as bullish. But it’s hard to imagine what that news might be, given that Biden has been climbing in the polls and stimulus talks are in a muddle. Fed chief  Powell could venture forth and cough into a microphone, but he seems to save his bullets for moments when investors and the news media are stirred up to begin with.  The Russell 2000 is where the excitement has been lately, alas. You could no more build an historic rally on this than you could a fabulous dinner featuring mashed potatoes, salisbury steak and jello.

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October 8th, 2020

Posted In: Rick's Picks

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