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October 5, 2020 | Wall Street Can’t Hide It’s Love for Trump

Rick Ackerman

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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.

If stocks plunged Friday on news that Trump had caught the virus, and then began to surge as soon as it looked like he would recover, investors must like the guy, right? Or so it would seem.  The Dow rose almost 500 points on Monday as the President’s doctors prepared to send him home earlier than most of us had anticipated.  Since they are taking no chances, we can confidently conclude he’s in pretty good shape. The maudlin muckrakers who invent the news have been doing their damndest to suggest otherwise, but they’ve only embarrassed themselves with an effusion of ignorance and cant.  Much of it centered on the claim that Trump’s doctors misled them or withheld important details about his treatment, but it is only in the staunchest redoubts of Trump Derangement Syndrome that anyone much cared. As for investors, they have yet one more reason to tune out polls that would have us believe Biden will give Trump a good fight. If this were likely, the Dow would be trading 5000 points lower and fixing to plummet anew.

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October 5th, 2020

Posted In: Rick's Picks

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