Steady as She Goes

“Speculation is essential not merely in the market for stocks, but in any market. Somebody must take chances.”                 –William P. Hamilton, 1906 Volume picked up last week as the Nasdaq put in four straight losing sessions. Despite this, institutions do not show signs of anxiety over a party that tacked up gains for Q1 that would normally... [more]

The Pause

“Don’t confuse brains with a bull market.”         –Humphrey B. Neill Shares pause to catch their breath as volume and volatility dim. The Nasdaq outperforms in four of the last five sessions. Meanwhile, the speculative growth-stock glamours continue to regain their past glory. ... [more]

Plodding Ahead

“In trading…the person who can easily admit to being wrong is the one who walks away a winner.” –Victor Sperandeo, “Market Wizard” Shares remain in good shape. Breadth and leadership are quite strong, enough so that any intermediate-term correction that occurs should be just that, a correction, and not the end of the... [more]

Snapping Back

“If you pay attention to what the market is saying rather than forcing your will on the market, it will give you subtle clues as to what it is going to do. There is always a message but you are not going to pick it up unless you have an open mind.”                      –Linda Bradford Raschke, “Market Wizard” Shares wasted... [more]

Taking a Breather

“…the inherent nature of a competitive market does not change very much over the years…’the same old patterns’ of human behavior continue to produce much the same types of market trends and fluctuations.” –John Magee, Technical Analysis of Stock Trends, 1966 Under the cover of averages that essentially went east... [more]


“It is better to be roughly right than precisely wrong.” –John Maynard Keynes Demand for stock has moderated over the past week. As seen in the below chart, this is accompanied by an easing of the advance’s trendline. ... [more]


“People who say it cannot be done should not interrupt those who are doing it.“ — Chinese Proverb   Shares remain buoyant. There are no signs of distress at the surface, and leading stocks act well with a few... [more]

Shapes of Things to Come

“If you get up one more time than you fall you will make it through.“                     –– Chinese Proverb Historically, there have been an average of two particularly auspicious times... [more]

The Train and The Station

“Mistakes are a fact of life. It is the response to error that counts.”                     — Nikki Giovanni As the train leaves the station, professional investors feel compelled to jump on board, otherwise they will miss the ride. While this explains part of the reason for the one-way, five-week move in the... [more]

A Methodical Market

“As to methods, there may be a million and then some, but principles are few. The man who grasps principles can successfully select his own methods.” — Ralph Waldo Emerson Shares ignore negative news to plough ahead in steady, systematic fashion. Nasdaq accumulation days now number four in the past 10 sessions, the best... [more]