The Market Structure Map
September 9, 2026
ChargePoint (CHPT) traded 44 million shares Sep 3, almost twice its ledger of 24 million, and rose from around $5 to over $9. Yes, in Dec 2020, it was trading above $900, with market cap over $15 billion versus today’s $250 million. How did its...
September 2, 2026
Soon we’ll be rocking around the clock. Which raises the question: Does 24-hour trading foster capital formation? By the way, I’ve been invited to sit on panel Sep 17 on 24-hour trading that the SEC has organized at its HQ in Washington DC. Why? Because...
August 26, 2026
Twenty-five lighters on the dresser, yessir, and I gotsta get paid. That’s what NVDA investors are saying today. The ZZ Top (God rest Frank Beard) version of that song has Billy Gibbons at his gravelly best. I saw a documentary on the band, and Billy...
August 19, 2026
Earnings. This is what the stock market is all about. That’s what we’re told all day long by the financial media. And it would be true if just 51% of the money in the market were driven by earnings. With Morningstar data as barometer, about...
August 12, 2026
Would you take a coin flip as an outcome? I got to know a successful growth fund manager in the 1990s. Well. More than one! Louis Navellier was crushing it for technology investors using “modern portfolio theory” principles such as risk-adjusted return and how volatility...
August 5, 2026
Very slowly than all at once is how things tend to happen. It seems to be true in the stock market. A Demand/Supply view of Micron (MU), darling of the AI trade, is like that. Run a three-year chart at EDGE, and Demand exploded in...