November 11, 2013

  “Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.”   — Paul Tudor Jones   Shares remain in good shape. Leadership is thin, as most glamours, from the Four Horsemen to most recent new... [more]

November 4, 2013

“Once you understand that news is not causal, you realize that even if you got it in advance, you could not forecast the stock market.” – Robert Prechter Shares remain in good shape overall. Intermediate trend, breadth, and volume are all solid. Within the list, the high-expectation segments like discretionary, and industrial outperform, a plus. That the defensive staples... [more]

September 30, 2013

  “If it’s obvious, it’s obviously wrong!”   –Joe Granville   Shares remain in good shape, the Nasdaq off as much as a slim 1.7% thus far in this week-plus sideways drift. While the weaker sister, the S&P is down as much as a mild 3.2%, barely qualifying for reaction territory, let... [more]

September 16, 2013

“If you’re not close to the markets, you’ll lose money. If you’re too close to the markets, you’ll lose money twice as fast.” – Robert Prechter Breadth is believed to have already peaked for the cycle. It is logical, then, to expect the breadth of the leadership and the market generally to decline from here as monetary policy... [more]

September 1, 2013

“In order to be profitable, you must learn how to win the real game: the mental side of the business.” –Linda Raschke The S&P is in a four-week reaction of 4.8%, while the Nasdaq is off as much as 3.3%. Volume has been lighter on the Nasdaq’s decline than that of the S&P, due to the Naz being the leading index. ... [more]

August 21, 2013

  “No other stocks than the leaders can have more than a temporary effect on the market’s course.”   –Joseph H. Kerr, Jr. (1931)   The averages are in the midst of a well-deserved pullback. The S&P 500 has been off as much as 4.1% from its high, the Nasdaq Composite 2.8%. According to our interpretation, the latter... [more]

August 11, 2013

  “Trading is not an intellectual game. You can’t ‘out-think’ the market.”   –Linda Raschke   Shares remain in good shape. The advance is broad and leadership quite impressive. Strong volume between now and Labor Day cannot be expected. For this reason, there are certain setups that... [more]

August 1, 2013

  “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do so, you are dead.”   –Paul Tudor Jones   There were more breakouts this week than any week in years, in our opinion. That this behavior occurs not at the end... [more]

July 14, 2013

“If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. There is nothing better than a fresh start.”   –Paul Tudor Jones   The clue that the May-June decline in the averages was going to be temporary, and not lead to a bear market, was the performance... [more]

June 17, 2013

    “Be who you are and say what you feel because those who mind don’t matter and those who matter don’t mind.”   –Dr. Seuss   Monday’s session allowed the Nasdaq to confirm last Thursday as a swing low. This turns the trend from down (lower highs, lower lows) to neutral (higher low, lower... [more]