Rick Ackerman
Articles by Rick Ackerman
Stocks dove late in Wednesday’s session on news that the minutes from the January FOMC meeting were more than a little hawkish. From where we were sitting, the selloff looked like a brazen shakedown. It amounted to a 475-point reversal in...
Index futures were getting savaged late Monday night as DaBoyz worked feverishly to exhaust sellers so that they can run stocks up the ol’ wazoo ahead of the opening bell. This is a dangerous game, even for the thimble riggers who...
Bitcoin’s crazy shenanigans are making the news media’s attempts to keep up with them seem pathetic. Bloomberg’s latest update, from four hours ago, has trumpeted the headline Bitcoin Starts a New Year by Tumbling, First Time Since 2015....
Treasuries are taking a shellacking on expectations that the GOP’s tax package will cause the economy to boom and inflation to leap. I have serious doubts about this but am keeping an open mind. Regardless, the chart shown makes a strong...
We hold a position consisting of two round lots with a cost basis that has been reduced by profit-taking to 14022. Entry came on December 8 via an explicit recommendation to get long at 16042. The paper-trade was offered mainly to...
The rally stalled at 2698.00, precisely where we had anticipated, but the shallow pullback that has occurred since means the futures are going higher. Those who went short at the target as I’d suggested can manage the risk as they...
It’s just like Wall Street (and its mouthpiece, The Wall Street Journal) to get all lathered up over supposed tax reform that has little more going for it than the usual heap of manure we’ve come to expect from Congress. I made this...
For better or worse, bitcoin has everyone’s attention. Anyone even remotely aware of the cryptocurrency’s increasingly wild price swings would recognize a full-blown mania, just as those on the periphery of the Dutch tulip bulb craze of...
Hard as it is to believe, VXX took a crucial step Tuesday toward a longstanding target at 26.32 that until recently had seemed as remote and inaccessible as a seashell lying at the bottom of the Marianas Trench. The relentless downtrend...
Today’s bullish surge was strongly impulsive on the hourly chart (see inset), surpassing no fewer than four prior peaks, three of them ‘external’. From a technical standpoint it transformed a bearish head-and-shoulders formation that has...
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