The Market Structure Map
February 5, 2020
You know it’s after Groundhog Day? We passed Feb 2 and I don’t recall hearing the name Punxsutawney Phil (no shadow, so that means a reputed early spring). Reminds one of the stock market. Things change so fast there’s no time for tradition. We have...
January 29, 2020
What did you say yesterday to your executive team, investor-relations officers, if you’d sent a note Monday about mounting Coronavirus fears? The market zoomed back, cutting losses in the S&P 500 to about 2% since Jan 17. We said here in the Market Structure Map...
January 22, 2020
Coronaviruses are common throughout the world. So says the US Centers for Disease Control and Prevention. The market didn’t treat news of spreading cases in China and the first in the USA (from a Chinese visitor) that way though. Airline and gaming stocks convulsed yesterday....
January 15, 2020
Proportional Response is the art of defusing geopolitical conflict. Proportional Response is also efficient effort. With another earnings season underway in the stock market, efficient effort should animate both investment decisions, and investor-relations for public companies. I’ve mentioned the book The Man Who Solved the...
January 8, 2020
Happy New Year! I hope you enjoyed our gift: A two-week break from my bloviating! We’d planned to run best-of columns and thought better, because everybody deserves a respite. We relished the season in the Colorado mountains, as this album shows (see world-class ski-race video...
December 18, 2019
Time matters. We’ve gone 42 trading days with the ten-point Market Structure Sentiment index, our proprietary measure of the propensity of algorithms to lift or lower prices, over 5.0. That’s a growth-at-a-reasonable-price (GARP) market since Oct 17. It’s by no means the longest. More on...