Averages Firm Up

“Lose your opinion – not your money” –Unknown Shares put in two major accumulations days at the end of last week. Of note was the volume, Friday’s range expansion, and Friday’s good close. In... [more]

Glamours Lose Shine

“When the facts change, I change my mind. What do you do, sir?” –John Maynard Keynes Last week’s takeaway was the dumping in certain of the speculative growth stock glamours. Otherwise, at the surface, shares had a productive week as they continued their climb out of the previous week’s... [more]

Holding In There

  “A good plan violently executed right now is far better than a perfectly executed plan tomorrow.” — Gen. George Patton Shares remain in good shape despite a five-day decline that culminated in Friday’s gain. There were two distribution days last week, as shown... [more]

Fertile Ground for Speculation, Part II

“A successful speculator bases no moves on what supposedly will happen, but reacts instead to what does happen.”          –Max Gunther Shares moved out last week as complications from Europe dimmed. The Nasdaq, as shown below, shows a fair amount of accumulation, or institutional buying, and a modicum of distribution, or institutional selling. ... [more]

Fertile Ground for Speculation

    “When you take your initial position, you have no idea whether you’re right or not. What’s exciting is if it starts to go your way. Now that’s thrilling.”                     –Paul Tudor Jones Last week’s key session was that of Thursday, when price put in a wash-and-rinse... [more]

Ruffling of Feathers

“Take your losses quickly and don’t brood about them. Try to learn from them but mistakes are as inevitable as death”. –Jesse Livermore Shares darkened the moods of some on Thursday, though the market had risen 10 times in 13 tries and was due for an unwind. Wednesday’s disappointment in some... [more]

Daylight

“I never try to predict or anticipate. I only try to react to what the market is telling me by its behavior.” –Jesse Livermore The week-ago report of June 10 spoke of the market beginning to ignore bad news, the S&P putting in a major accumulation day, and leading stocks forming 5-week-plus bases. The price/volume sequence... [more]

Encouragement

  “Chance favors the prepared mind.” –Louis Pasteur, 1854 Shares showed encouraging behavior last week, with the Nasdaq bouncing off its 200-day line. The key distinction was not the 200-day bounce, but that price found support so soon after it undercut the low of... [more]

June Gloom

“You don’t look for reasons to trade. You look for reasons not to trade. By having that mindset, you eventually reach a point that when you do pull the trigger the emotion is gone and you have confidence in what you are doing.” — James Hearndon   Shares rolled over pitifully last week, nullifying a six-day attempted... [more]

It’s A Mad World

  “Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, preferably one that is sick or lame. Only then, when... [more]