Trader’s Narrative

As a technical analyst, I normally look at price action exclusively but volume is undeniably, another important element of the market. I’m a bit reluctant to delve into the concept of volume because a lot of what is already out there is bunk.
In any case, here is an interesting chart of the recent NYSE total […]

Although I’ve previously touched on the predictive quality of the IPO market, I wanted to bring it up again because what last year was a slow trickle has now dried up to an outright drought.
So far in the first quarter of 2008 we’ve had only 12 IPOs: 5 in January, 4 in February and 3 […]

This was the best April Fool’s prank the bulls could have played on the bears!
Almost all the major indices finished up 3% or more. The semiconductors closed up more than 4%. The only thing to fall was gold, losing its 900 handle.
Just a few weeks ago I wrote about the hidden power of back to […]

Measuring the volume ratio of the Nasdaq and the NYSE goes back to the early days of technical analysis.
At its genesis, the Nasdaq was seen as a lesser exchange where smaller, younger and riskier companies who had yet to prove themselves got listed. The NYSE on the other hand was where these companies all […]

In mentioning a few reasons why we were seeing an intermediate bottom, I wrote last week, after Tuesday’s 90-90 day (March 12th, 2008):
The best scenario for the bulls would be another extremely strong day which would be as or even more lopsided than yesterday’s. If we get that within a reasonable time, like a week […]