Q2 2019 – This is Not What Tops Look Like

There’s an on-going debate about the current market – is a top forming, or has what’s taken place the last 18 months (give or take) just a big consolidation period within an uptrend? Entering such a debate is silly at best and dangerous at worst. Silly, because it doesn’t matter unless you’re managing billions of […]

My Worst Trade

“The game taught me the game.” Jesse Livermore said it 100 years ago, and it remains true today. Any trader who has done well and survived for a long time has a long list of stories involving bad trades, improper operations, terrible discipline and horrible luck. But those situations provide the stepping stones to success. […]

Historically, What Is the Character of a Market Bottom

The market plunged into its December low. The S&P fell 450 points in 3 weeks, and the number of stocks trading above their 20, 50, and 200-day moving averages hit levels not seen since the Financial Crisis. Now the market is moving straight up – call it a V bottom. The S&P has recaptured almost […]