Shares Plod Higher

“Riches don’t respond to wishes. They respond only to definite plans, backed by definite desires, through constant persistence.” –Napoleon Hill Shares put in another constructive week amid Thursday’s increased volume and range expansion. The muted NYSE volume this month is not a concern since this is par for the course at this time of year. The... [more]

Summer slowness

“The fastest way to the bank is education.” — Steve Nison Shares put in a constructive week technically, with Tuesday’s higher volume rise the centerpiece of last week’s activity. Prices then spun their wheels on Wednesday, Thursday, and Friday, as range contracted and volume ebbed. The... [more]

Bias Still Up

“After a while, the [trade] size means nothing. If you complete 78% of your passes, it’d be nice if you’re in the NFL, but if you’re in college or high school or even elementary school, I’m sure the thrill is just as great.” –Paul Tudor Jones Friday’s 2% rise in the Nasdaq took price to a one-month... [more]

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]