Stocks Have Gone Silly, but Why Resist?

by Rick Ackerman

Rick’s Picks subscribers have finally embraced an ambitious rally target first broached here when the Dow Industrials were trading nearly 3000 points lower. If you’re keen on getting short at this prospective Hidden Pivot peak, read my E-Mini S&P tout for Tuesday (below) first, since it takes a skeptical view of the notion that the insanity can’t last. Stocks are already higher than most of us could have imagined just a few weeks ago, when bad news was piling up thick enough to smother the decade. All it has taken to erupt the stock market into a Vesuvius of stupidity was a few well-intended but disingenuous words from our Treasury secretary. Mnuchin has spring-loaded hopes enough to trigger a short-covering panic, but it’s your choice whether to resist it with rationality or accept it and scuddle for yet a few more days with the lemmings.

Continue Reading at…