Can history repeat itself 20 years later?
Above, you will find a chart that compares the Nasdaq Composite of 2003 vs. 2023. I was inspired to look into this when I realized the market bottomed on October 10, 2002, and then bottomed recently on October 13, 2022, almost to the EXACT date 20 years later! When I looked into this further, I saw even more similarities, which are numbered below the chart. I realize that history doesn't always repeat itself, but it [...]
The Stock Market Game Changer
This past week, the market sent a loud and clear message that Artificial Intelligence (AI) is a game changer. Many companies are being completely repriced because of the revolution in AI, and when we look back at 2023, many will point to last week as the pivotal moment of the year. Now, before you accuse me of being overly dramatic, please hear me out. Every great market throughout history has been fueled by an invention [...]
Four Reasons I’m Positive on the Market
I’m more positive than most people on the market for the following reasons: 1) Indexes – The big institutions control the market. Therefore, it’s important to learn how to read charts and interpret what they are doing on a consistent basis. Right now, the Nasdaq Composite and S&P 500 are above strong levels of institutional support. When the market pulls back, they are normal pullbacks to logical areas of support. As long as the institutions [...]
Forget the Macro and Focus on Price
The market could be setting up for a tradeable rally over the near-term for the following reasons: 1) 90% of what I use to judge the health of the market is the price action of growth stocks. Focusing on price not only helps to shut out the noise, but it also gives me a clearer picture of what’s truly happening in the market. Right now, there are tons of stocks looking great technically and fundamentally. [...]
Random Thoughts Heading Into 2023
These are not predictions. Just random thoughts going through my mind. My 2023 Outlook will be published later this week. 1) I wouldn't be surprised to see a 5-10% decline to start 2023. Many people say that this is the consensus, but I've talked to more retail traders who are fully invested and saying "it's too late to sell," than people who are defensive in this market. Keep in mind there's a difference between what [...]
The American Dream
“In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edgewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success. Who were they? Charles M. Schwab, president of the world’s largest steel company; Arthur Cutten, the greatest wheat speculator of his day; Richard Whitney, president of the [...]