Inspired by his high school economics teacher, Rick Pendergraft fell in love with the markets at an early age. He entered his first investing competition at 17, and opened his first brokerage account before he finished college. At the age of 23, on the third options trade he had ever placed, Rick turned $1,800 into $22,000 in less than a week, when the company he bought became the target of a takeover. He admits it was a stroke of luck, but it was a memorable education as to the leverage that options can provide.
After a ten year career in banking, Rick decided to pursue trading full-time. To get his foot in the door, he started out in the sales department at Schaeffer's Investment Research. It was not long before his talent was recognized and he was invited to apprentice under Bernie Schaeffer, one of the top options traders in the world. Rick thrived in his new position and twice received the award for "Top Trader."
Rick has developed a loyal following of readers who are grateful for his timely warnings and profitable advice. He is widely recognized as a market expert and has been frequently quoted by Reuters, BusinessWeek, Forbes, USA Today, the New York Times, and the Washington Post. Rick's primary focus is on identifying short and intermediate term rising and falling trends in the major market sectors. His analysis is based on technical factors along with indicators of market sentiment
Rick lives near Delray Beach, FL with his wife and three children.
Read Rick Pendergraft's previous newsletter articles below:
The huge gains in the market in the week leading up to Thanksgiving reminded me that there is such a thing as panic buying. Mostly, we hear about panic selling - but panic buying is just as dangerous for investors.
By Rick Pendergraft | Wed, Dec 10, 2008
When the market is behaving badly and all the Johnny-Come-Lately stocks are getting beaten down, the best thing you can do is go with a tried-and-true company. And there aren’t many companies that are more tried-and-true than AT&T.
By Rick Pendergraft | Fri, Dec 5, 2008
Since late July, only one week has seen money flowing into equity mutual funds. All other weeks have seen outflows. The institutional money may be what everyone keeps an eye on, but individual investors control more money than most people think. Through retirement plans, more and more individuals have been invested in mutual funds, and right now these people are fleeing the market in droves.
By Rick Pendergraft | Thu, Dec 4, 2008
The old saying that the market likes to climb a wall of worry is going to come into play over the coming months. If the amount of fear in the market is any indication, that wall has reached new heights and the climb could be long and steady.
By Rick Pendergraft | Wed, Dec 3, 2008
Yesterday, I was speaking with a friend of mine who works within the financial industry, on the advertising side of the business. And something Tom said hit home with me: With companies cutting back on advertising, parts of his business are down - but online brokers are going strong.
By Rick Pendergraft | Sat, Nov 22, 2008
In golf, when you are putting in the wind, you have to widen your stance. In volatile markets, this rule can be adapted to apply to trading as well. It may seem like strange advice, but in times of extreme volatility, you need to widen your stop-loss points. Most people think you have to do the opposite and tighten them.
By Rick Pendergraft | Fri, Nov 21, 2008
When you hear investment people talk about the big three, they are usually talking about GM, Ford, and Chrysler. But what about the other big three? As children, most of us dreamed of having three things when we grew up: a nice house, a nice car, and a nice job. Right now, the outlook for this big three is about as optimistic as the outlook for GM, Ford, and Chrysler.
By Rick Pendergraft | Mon, Nov 17, 2008
Senator Obama pledged to spend $150 billion on alternative energy during his campaign, and wind energy is an area of interest. With the current financial crisis, he might not be able to devote that much to alternative energy right away - but over the next four years, you can bet government money will be directed at wind and solar energy companies.
By Rick Pendergraft | Wed, Nov 12, 2008
You see, “Chris” is a regional sales manager for one of the biggest pharmaceutical companies in the world. His area covers four states, including Florida. And it turns out that inside the pharma industry, they aren’t worried about Obama overhauling the healthcare system.
By Rick Pendergraft | Tue, Nov 11, 2008
You may be concerned about the stock market now that Barack Obama has won the election. Some people believe that Republicans are better for Wall Street than Democrats are. But history shows that the market has actually performed better under Democrat presidents.
By Rick Pendergraft | Sat, Dec 13, 2008
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