Buying the Dips Becoming Permanent State of Mind [Video]

Rick Ackerman Rick’s Picks

This is an interview I did with Jim Goddard of Howe Street. We talked about how the buying driving stocks higher is not rational or risk-minded, just a reflex response to the nearly limitless availability of cheap credit. Buying the dips has become entrenched, and it could go on for longer than many might imagine despite a darkening global economic picture. It has even kept Boeing aloft, notwithstanding the deepening scandal involving fatal crashes of two 737 Max jets. The families of the 362 who died will have their day in court, and the cost to Boeing is going to be huge.

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Rick Ackerman

Rick’s Picks

Barron’s once labeled Rick Ackerman an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.