Turn it up (the volume, that is)

“Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”                     — Warren Buffett We have not been impressed with the three-day bounce following the 8.4% markdown of last Tuesday-Thursday in the Nasdaq. Volume has been light. As the adage goes, it takes volume to put a stock up, but a stock can fall... [more]

Solidity

“Charting is a little like surfing. You don’t have to know a lot about the physics of tides, resonance, and fluid dynamics in order to catch a good wave. You just have to be able to sense when it’s happening and then have the drive to act at the right time.”                     — Ed Seykota Shares remain... [more]

As the World Burns

“Most people have the will to win. But few have the will to prepare to win.”                     — Bobby Knight   Shares, in spite of having a lot thrown at them over the past fortnight, hold up well. Price movements, however, should be taken with a grain of salt during the vacation-heavy,... [more]

Backing and Filling

“Unlike long-term and short-term moves, intermediate-term waves are relatively precise in form; they last long enough and are sufficiently identifiable to be outstandingly adaptable moves for selling purposes.”                     — Justin Mamis Shares wrapped up a constructive... [more]

The Test

August 21, 2011 “The investor’s chief problem – and even his worst enemy – is likely to be himself.” — Benjamin Graham   Technically, shares did what they had to do last week. The first index to test its Aug. 9 intraday low, the Nasdaq Composite, did so Friday on lower volume with fewer 52-week lows than on the initial... [more]

The Bounce

“The farther backward you look, the farther forward you can see.” — Sir Winston Churchill Shares are entitled to a bounce from what has been the third-steepest, nine-day descent in at least the past 49 years. The recent thrashing is in good company: Only Black Monday and the October ’08 bloodbath were more severe. The... [more]

Gentlemen Prefer Bonds

“Gold and silver are money. Everything else is credit.” — J.P. Morgan Supply/demand quotients are unfavorable for intermediate-term speculation. Leadership was ample out of the July 1 low and contributed to a playable move. But the glamours that took the reins... [more]

And The Cold Wind Blows

“Now, this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”                 — Sir Winston Churchill To put the liquidation into perspective, shares’ decline over the past 10 sessions has been the harshest since March ’09, but nowhere close to... [more]

Against The Odds

“Don’t get caught up trying to catch every possible move. Successful traders don’t stand out in the open with a shotgun, they hide in the bushes with a rifle.”             — James Hearndon Last week’s fraying at the edges in a number of the cycle’s speculative growth stock... [more]

Risk On

  “Rule number one for success is make your own rules.”                 — Paul Stanley Shares have had a fair amount thrown at them, and yet they hold up. Regardless of the outcome of the Washington budget talks, and the initial reaction thereto, the direction of least resistance... [more]