Trends And Rotation

In the last article, I discussed the likelihood of rotation in the stock markets even as bigger trends continue to advance.  While the market leaders in the tech heavy Nasdaq issues held mainly firm, conspicuous strength rotated into a number of other emerging sectors. As discussed last year, the surprising strength of the consumer economy … Continue reading Trends And Rotation

A Date That Will Live In Infamy

I've stolen that sentence from Franklin D. Roosevelt to commemorate today's date, October 19th. To those who have been long time participants in the stock markets, that day in 1987 was the single most traumatic experience in their lives, even as ensuing selloffs in the years since have arguably been as dramatic. At that time … Continue reading A Date That Will Live In Infamy

Cycles And Rotation

Classical models of market activity hold that there are predictable cyclic rotations in the equity markets.  We are familiar with the overlapping sine waves of market segments as they progress through their stages of growth and decline. In broad brushstrokes, as leading industries such as financials mature, we would expect to see robust economic activity … Continue reading Cycles And Rotation

The Significance Of Ranges

Experienced market participants know that stocks spend most of their time in seemingly random ranges.  It is only for a short time that they will actively trend up or break down.  This is logical since companies will go about their business in a somewhat predictable and systematic way. When something unusual or extraordinary happens, or … Continue reading The Significance Of Ranges

The Significance Of Trend

It's been almost 4 months since the initial shock to the stock markets ostensibly caused by the panicked entreaties of health officials.  A number of factors contributed to the massive selloff which ensued over the following months based on the sudden introduction of unknowns.  The lack of substantiated facts was one factor but also the … Continue reading The Significance Of Trend