The Market Structure Map
August 7, 2024
Copernicus could help us pick stocks. In a sense, anyway. I’ll explain. Now, I don’t know what’s going to happen next. We did, however, write this July 24: Recognize this: It’s a mathematical impossibility for any meaningful rotation to occur from large caps to...
July 31, 2024
What about the stock market can we believe? You can’t believe prices. At least, during the day. If you’re a trader, how do you know if the price will move favorably? Yet prices are the core ingredient of technical signals, and the way we value...
July 17, 2024
The Dow Industrials gained 742 points yesterday. Randomly. The rest of the market was pedestrian. The trouble for issuers and investors alike is the comparisons. Why is this thing up and that thing down? There’s a luminous scene in the book Thirteen Moons by Charles...
July 3, 2024
There’s a moat between haves and have-nots in the stock market. The S&P 500 Equal Weight Index that treats the 500 components the same is up 0.5% through yesterday versus Dec 31, 2021. Cumulative inflation over that time is 13%. So the equality index is...
May 8, 2024
Should a stock like COKE rise 20% in a day? Executives love it, sure. But it’s aberrant behavior at loggerheads with what the dominant money buys today. Here’s what I mean. COKE is a member of MDY, the Blackrock (iShares) S&P midcap 400 ETF, with...
