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Are You A “Strong” Trader Or A “Weak” One?

 

Are You A “Strong” Trader Or A “Weak” One?

There are two types of traders:  

One looks for patterns and relationships that will occur universally and trades those consistently over time.

The other looks for stable periods in markets and trades the patterns and relationships that typify those regimes.

For the first trader, trading psychology is all about consistency and maintaining a consistent mindset.

For the second trader, trading psychology is all about flexibility, creativity, and adapting to changing conditions.

One is a stiff tree; the other is bamboo and willow.

The stiff tree has a hard trunk and looks strong.  It breaks when the wind blows hard.

Bamboo and willow have no trunk and look frail.  They bend with the wind and don’t break.

There is a distinct regime in the current market.  There are patterns and relationships playing themselves out with regularity. 

How is your P/L?  Are you the “strong” and stiff tree, or the “weak” and flexible reed?

 

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Published at Mon, 16 Oct 2017 19:37:00 +0000

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Top 3 Healthcare Penny Stocks for 2017

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Top 3 Healthcare Penny Stocks for 2017

By Kevin Johnston | Updated October 13, 2017 — 7:05 PM EDT

The healthcare industry can be precarious for stocks of large companies, much less penny stocks. Nevertheless, smaller companies that capture a niche can grow much faster than large caps. That higher reward potential comes with higher risk. Of course, small-cap healthcare companies can be nudged out of the market by big competitors, and they can simply become unable to service debt when products and services don’t sell quickly enough. All of this makes the small-cap healthcare stalwarts on this list more attractive.

None of these are new companies – they have developed products and found the marketing outlets that are needed to sustain them. Because of the higher risk, investors should continuously perform due diligence. It is important to watch for product failures, closing markets or excessive competition moving in. To learn more about trading penny stocks, Investopedia Academy has a day trading course online.

Let’s look at how our top three picks break down. All figures are current as of Oct. 13, 2017. (For a quick primer on healthcare stocks, check out: Investing in the Healthcare Sector.)

Curis, Inc. (CRIS)

Curis (CRIS) is engaged in biotechnology with a focus on developing drugs that treat cancers. It does significant amounts of research and collaborates with other drug makers in testing and developing drugs. Therefore, it must put drugs through trials and obtain approvals, which means that the stock can fluctuate depending on the outcome for any given drug. Profits have been less than robust while the company focuses on research. However, management says it is now ready to bring many drugs to market that will produce profits going forward.

Volatility for this stock is high, but that can be a good thing for investors who want to build a position by buying at support levels. The 50-day moving average is below the 200-day moving average, so cautious investors may want to wait until the 50-day line is back on top before buying into this stock. The company has been paring its income losses, according to the earnings report for the period ended June 30, 2017. Curis has been increasing its research and development expenditures, which has negatively affected the bottom line. Investing in this stock must be based on whether investors see promise in the company’s drug pipeline. (See also: Invest in Cancer Research With These 3 Stocks.)

China Pharma Holdings, Inc. (CPHI)

China Pharma Holdings develops and markets a broad range of products in China, targeting hospitals and retailers. The drugs are focused on cardiovascular applications, brain diseases and infectious diseases. When the Chinese company reports results, it tends to have the majority of its assets as receivables, and investors should keep in mind that many companies do not collect all of their receivables.

The stock dropped dramatically in May 2017, rebounded, then pulled back again. It is in a sideways pattern now, perhaps forming a new base. Investors should note that the 50-day moving average has crossed below the 200-day moving average, which suggests that the stock could have more downside. However, these moving averages are trailing indicators. (See also: Pharma Majors to Benefit From China Drug Inclusion.)

For the period ended March 31, 2017, the company reported that it had reduced its losses. Operating income was negative but had rebounded dramatically from the previous quarter. Yearly revenues decreased by 23.5%. Revenues and income were also down in the period ended June 30, 2017. Investors who buy this stock are hoping for the release of effective and popular drugs. As with all penny drug stocks, buyers of China Pharma Holdings shares must be willing to wait out long periods of volatility while hoping for profitability to return.

It is important to remember that China monitors and controls companies closely, so any investor in this stock is also obtaining exposure to the geopolitical influences that could affect the stock. (For more, see: China on a Record High International Healthcare Acquisition Spree.)

  • Average Volume: 141,112
  • Market Cap: $6.973 million
  • P/E Ratio (TTM): -0.83
  • EPS (TTM): -$0.19

Repligen Corporation (RGEN)

Antibodies dominate the product line for Repligen. The company sells worldwide and has been in business since 1981. Quarterly revenues have been rising, and operating income is slightly up for the past four quarters.

The stock price broke through resistance at around $34 per share in April 2017 and then climbed steadily, but it saw a decline at the end of September, plummeting over 14% in one session on Sept. 26. However, Repligen’s revenues have been rising for the past four quarters, and the company’s longevity offers stability. It would be very unlikely that this company would disappear given its strong product line and marketing effectiveness. (See also: How to Pick Winning Penny Stocks.)

  • Average Volume: 346,663
  • Market Cap: $1.66 billion
  • P/E Ratio (TTM): 75.34
  • EPS (TTM): $0.51

The Bottom Line

Penny healthcare stocks are high risk. Trials of drugs can produce negative results, and the market may not readily accept a new drug. On the other hand, a successful drug can cause a penny stock to soar and give investors profits they would not expect from more expensive stocks. It is wise to limit the percentage of your portfolio that you keep in penny healthcare stocks – these are speculative plays. (See also: Understanding Penny Stocks’ Risks and Rewards.)

 

Published at Fri, 13 Oct 2017 23:05:00 +0000

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Top 5 Copper Stocks for 2017

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Top 5 Copper Stocks for 2017

By Kevin Johnston | Updated October 13, 2017 — 8:55 PM EDT

Copper prices have been rising, and this bodes well for copper stocks. In fact, copper has risen to over $3 per pound. This means that there is incentive for copper companies to increase production to take advantage of the better prices.

Copper stocks have been beaten down for a long time, but 2017 has given them some relief. That is no reason to pick just any copper stock – it is a reason to perform due diligence and make some choices that will have the most reasonable prospects for success. (For a primer on investing in this metal, check out: Commodities: Copper.)

We have chosen five copper stocks that should do well for the remainder of 2017 based on their resilience through the down times. All figures are current as of Oct. 13, 2017. Here is how the five stocks break down.

Southern Copper Corporation (SCCO​)

The stock of Southern Copper broke sharply higher in November 2016 and formed a new base to consolidate its gains. It broke out of that base in August 2017 and is moving upward. Its 1.34% dividend could grow if the company continues to prosper from rising copper prices. Furthermore, Southern Copper’s quarterly income and total revenues have been climbing. (See also: Copper Enters First Bull Market in 4 Years.)

Freeport-McMoRan Inc. (FCX)

As the world’s largest copper miner, Freeport-McMoRan suffered greatly during the copper price decline, but it stands to prosper as copper rises. The company is simply in the best position worldwide to increase production and take advantage of profitable copper prices. Freeport-McMoRan could move into a position where it can resume its dividend. The stock has been moving sideways in 2017 and has formed a cup and handle pattern. (For more, see: Freeport to Divest Majority Stake in Indonesia Unit.)

  • Average Volume: 19,117,049
  • Market Cap: $21.35 billion
  • P/E Ratio (TTM): 20.80
  • EPS (TTM): $0.71
  • Dividend and Yield: 0.00 (0.00%)

BHP Billiton Limited (BHP)

BHP Billiton has a widely diversified mining operation, but it makes the list of copper stocks to watch because it owns BH Copper. The stock climbed steadily starting in mid-June 2017, although it gave back some of those gains in September. The 4.16% dividend is attractive. (See also: Beyond Gold: Top Picks in Industrial Metals.)

  • Average Volume: 2,394,72
  • Market Cap: $114.47 billion
  • P/E Ratio (TTM): 19.11
  • EPS (TTM): $2.21
  • Dividend and Yield: $1.72 (4.16%)

Anglo American plc (AAUKF/AAL.L)

This company mines for a variety of metals, including copper. The chart on Anglo American shows a steady and orderly rise throughout most of 2016, but the stock was in a base through the first part of 2017. It broke out of that base in June and has been climbing, despite a slight downturn in September. The company has been in business since 1917, so this is a reliable pick for those who want exposure to miners in general and copper in particular. (For more, see: Billionaire’s Anglo American Bet Excites Investors.)

  • Average Volume (AAL.L): 6,119,063
  • Market Cap: GBp 1.879 trillion
  • P/E Ratio (TTM): 5.01
  • EPS (TTM): GBp 293.3
  • Dividend and Yield: GBp 0.48 (2.59%)

Rio Tinto plc (RIO)

Rio Tinto pays a 4.56% dividend. Production levels have been rising, and the stock has been in an uptrend for more than a year. The company mines other metals besides copper, which helps stabilize the stock price because Rio Tinto is not dependent on the price of any single metal for profitability. (See also: Is Rio Tinto a Great Stock for Value Investors?)

  • Average Volume: 2,988,561
  • Market Cap: $85.36 billion
  • P/E Ratio (TTM): 14.58
  • EPS (TTM): $3.43
  • Dividend and Yield: $2.20 (4.56%)

The Bottom Line

It should be noted that Codelco, a very large Chilean copper miner, did not make this list because it is state owned and therefore is subject to non-market influences that could affect its value. The five copper stocks on our list are all miners, so they are likely to directly profit from rising copper prices and do not depend on secondary income sources such as futures contracts. All five are large enough that they have assets they could sell should a sudden downturn in copper hit.

All five also have extensive copper reserves in place that they can put on the market any time they choose. This will help them take advantage of any sudden spikes in the price of copper. The reserves can also be sold if any of the companies want to raise cash for a new opportunity. Investors in copper must watch two indicators at once: 1) the financial health of the company; and 2) the trend in copper prices worldwide. Going long on any of these stocks will require a regular reading of reports on supply and demand for copper. (See also: What Factors Affect the Price of Copper?)

 

Published at Sat, 14 Oct 2017 00:55:00 +0000

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Wall St. ends up after economic data; S&P up for a fifth week

 

Wall St. ends up after economic data; S&P up for a fifth week

NEW YORK (Reuters) – U.S. stocks rose on Friday following upbeat economic data and gains in technology shares, pushing the Dow and the S&P 500 to a fifth straight week of gains.

Data showed U.S. retail sales jumped in September, and the University of Michigan’s consumer sentiment index hit its highest since January 2004.

Another report showed consumer prices recorded their biggest increase in eight months as hurricanes Harvey and Irma boosted demand but underlying inflation remained muted.

Netflix (NFLX.O) shares closed 1.9 percent higher after hitting an intraday record high at $200.82 on a slew of price target increases ahead of its earnings report on Monday.

Apple (AAPL.O), up 0.6 percent, gave the S&P 500 its biggest boost, while the S&P technology index .SPLRCT was up 0.5 percent. Shares of big banks were mixed following reports from Bank of America and Wells Fargo.

“We’re seeing a continuation of the strength in the market combined with low volatility. There seems to be money searching for stocks and looking for investments, simply because the momentum is still positive,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

“Also we’re entering a seasonal period where it’s difficult to fight the tape. So I imagine there’s cash coming in off the sidelines.”

The CBOE volatility index .VIX remains at historically depressed levels, closing at 9.61 on Friday.

The Dow Jones Industrial Average .DJI rose 30.71 points, or 0.13 percent, to end at 22,871.72, and the S&P 500 .SPX gained 2.24 points, or 0.09 percent, to 2,553.17.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 3, 2017. REUTERS/Brendan McDermid

The Nasdaq Composite .IXIC added 14.29 points, or 0.22 percent, to 6,605.80, a record closing high.

For the week, the Dow was up 0.4 percent and the S&P 500 was up 0.2 percent. The Nasdaq rose 0.2 percent for the week, registering a third week of gains.

Bank of America (BAC.N), the second-biggest U.S. bank by assets, rose 1.5 percent after the lender’s profit topped estimates due to higher interest rates and a drop in costs.

But Wells Fargo (WFC.N) tumbled 2.8 percent after it reported lower-than-expected revenue for the fourth straight quarter due to a decline in mortgage banking revenue.

The reports from the Wall Street banks kicked off the third-quarter earnings season, with investors hoping profit growth will help justify valuations after a rally that has sent the S&P 500 up about 14 percent so far this year.

Also limiting the day’s gains, the healthcare sector .SPXHC was down 0.3 percent as health insurers and hospital operators tumbled on news that President Donald Trump scrapped billions of dollars in Obamacare subsidies to private insurers for low-income Americans.

Centene (CNC.N) sank 3.3 percent, Molina Healthcare (MOH.N) dropped 3.4 percent and Anthem (ANTM.N) fell 3.1 percent.

Tenet Healthcare (THC.N) dropped 5.1 percent and Community Health System (CYH.N) declined 4 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners.

About 5.8 billion shares changed hands on U.S. exchanges. That compares with the 6.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.

Reporting by Caroline Valetkevitch in New York; Editing by James Dalgleish

 

Published at Fri, 13 Oct 2017 22:16:15 +0000

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Top 4 Alternative Energy Stocks as of October 2017

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Top 4 Alternative Energy Stocks as of October 2017

By Kevin Johnston | Updated October 12, 2017 — 6:45 PM EDT

With concerns about climate change and the state of the environment continuing to draw headlines, there is no doubt that the markets are also paying attention to clean and renewable energy resources. As oil prices rise from their recent lows, traditional energy companies will no doubt dominate the energy sector, but alternative energy is here to stay. The alternative energy companies on this list have the potential to make investors some money in 2017.

The stock charts on each of these companies show positive developments that could create upward momentum for the remainder of the year. All figures are current as of Oct. 12, 2017. (See also: Why You Should Invest in Green Energy Right Now.)

NRG Yield, Inc. (NYLD)

NRG Yield is not a pure alternative energy play, but it does own and operate renewable energy assets. The company was founded in 2012. This stock has been forming an upward price channel since February 2017. The shares are up over 20% year to date, and the company has consistently beat earnings estimates in recent quarters. Based in Princeton, New Jersey, NRG Yield is a subsidiary of NRG Energy, Inc. (NRG).

Pattern Energy Group Inc. (PEGI)

This San Francisco-based company owns wind energy projects. It makes its living selling energy to local utility companies. Projects are in the United States, Canada and Chile. The stock was rising throughout most of 2017, but it saw declines in August and again in late September. At current levels, the stock offers an attractive dividend yield of 6.82%. (For more, see: Clean or Green Technology Investing.)

  • Average Volume: 670,260
  • Market Cap: $2.15 billion
  • P/E Ratio (TTM): 71.22
  • EPS (TTM): $0.34
  • Dividend and Yield: $1.68 (6.82%)

Atlantica Yield PLC (ABY)

Atlantica owns renewable energy generation assets. It generates power through solar and wind technology. Revenues have shown solid gains for four straight years, and operating income has grown dramatically during that period. Buyers stepped in during early 2017 and bought shares, giving the stock a high-volume breakout. At the same time, the 50-day moving average crossed above the 200-day moving average. This is called a “golden cross” and is considered bullish by investors. While the price action has been volatile throughout the year, the stock has consistently found support at around $19, and its dividend yield of over 5% could be appealing to income investors. (See also: Atlantica Yield Posts Narrower-than-Expected Q1 Loss.)

  • Average Volume: 461,716
  • Market Cap: $2.08 billion
  • P/E Ratio (TTM): 67.10
  • EPS (TTM): $0.31
  • Dividend and Yield: $1.04 (5.05%)

Covanta Holding Corporation (CVA)

Covanta Holding provides waste services to cities in the United States and Canada. The company has developed assets that convert waste to energy. CVA owns 45 plants that are involved in converting waste, and the company sells metal that is a byproduct of the waste-conversion process. Daily volatility for this stock can be high, so this is one to buy only for those who are willing to ride out some dramatic moves in the stock price. Similar to several other stocks on this list, Covanta may be enticing to those investors seeking dividend yield.

  • Average Volume: 1,115,878
  • Market Cap: $2.01 billion
  • P/E Ratio (TTM): -73.33
  • EPS (TTM): -$0.21
  • Dividend and Yield: $1.00 (6.60%)

The Bottom Line

Alternative energy is mainstream enough now that investors can find companies that are extremely viable. Our list has one penny stock, but all the companies have a track record of securing contracts for their products and services. Nevertheless, the companies are relatively small compared with the giants of the energy sector, so they are subject to being nudged out of the competition. Owning alternative energy stocks means staying abreast of news in the field. (For more on alternative energy, check out: Top 5 Alternative Energy ETFs.)

 

Published at Thu, 12 Oct 2017 22:45:00 +0000

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Chase Stock Could Hit Triple Digits After Earnings

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Chase Stock Could Hit Triple Digits After Earnings

By Alan Farley | October 11, 2017 — 11:37 AM EDT

JPMorgan Chase & Co. (JPM) fires the opening shot of third quarter earnings season on Thursday morning, with the commercial banking giant expected to report earnings per share of $1.66 on revenue of $24.9 billion. CEO Jamie Dimon is likely to offer an optimistic fiscal year outlook, driven by expectations for corporate taxcuts and a December interest rate hike that would increase sector profitability.

Commercial banks are attracting steady interest following a September slide that shook out many 2016 breakout buyers. Trading at an all-time high and just a few points below the psychological $100 level, JPMorgan Chase now shares its long-term leadership role with a newly resurgent Citigroup Inc. (Citigroup Inc). A solid quarterly report could lift JPMorgan Chase stock above that magic $100 number, setting off a long-term test that might not end until 2018. (For a refresher, check out: The Industry Handbook: The Banking Industry.)

JPM Long-Term Chart (1991 – 2017)

 Full Screen  Make It Live

The stock hit an all-time low at $3.21 in 1990 and turned higher in an uptrend that stalled in the mid-teens in 1993. It cleared that resistance level two years later and took off in a powerful trend advance that topped out at $67.20 at the height of the internet bubble in the first quarter of 2000. The subsequent decline generated severe technical damage, knocking the price down to mid-1990s support in the teens.

A bounce into the $40s stalled in 2004, generating a broad sideways pattern ahead of a 2006 breakout that lifted the stock within 14 points of the 2000 high in July 2007. That marked the bull market top, ahead of a historic plunge that ended at a 13-year low in March 2009. Even so, the company fared better than its banking rivals, maintaining a strong balance sheet that underpinned a recovery into the upper $40s in the fourth quarter of 2009. (See also: JPMorgan Chase & Co.: The Big Bank.)

That resistance level stalled progress for the next three years, giving way to a 2013 breakout that reached the 2000 high in 2015. The stock then sold off, entering an intermediate correction that completed the last leg of a multi-decade breakout pattern that was set into motion after the November 2016 election. The stock has rallied nearly 30 points since that time and could add substantially to gains in the coming years.

JPM Short-Term Chart (2015 – 2017)

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The 2015 correction carved the outline of an ascending triangle, while the late 2016 breakout stalled at $94 on March 1, 2017, easing into a cup and handle pattern that broke to the upside on Oct. 2. The stock is now trading just two points above new support, exposing a failed breakout if traders sell Thursday’s news. However, it is more likely that sidelined players jump on board after the release because corporate tax cuts could super-charge an already strong U.S. economy. (For more, see: Trump Tax Plan ‘As Good as It Gets’ for US Banks.)

The bullish tone will remain intact as long as a decline holds the trendline​ of rising lows since June. That support is now situated near $90, in between the 50- and 200-day exponential moving averages(EMAs). The June and September pullbacks ended between those moving averages, generating fractal behavior that could come into play once again. That decline may also offer a low-risk buying opportunity.

On-balance volume (OBV) posted three rally peaks in two years and entered a 2015 distribution wave that ended in the second quarter of 2016. The indicator surged to a six-year high in March 2017 and turned lower, while the most recent uptick has failed to reach the prior high, generating a notable bearish divergence that signals inadequate institutional sponsorship. This deficit may need a correction before it can be worked out of the system. (To learn more, see: Uncover Market Sentiment With On-Balance Volume .)

The Bottom Line

JPMorgan Chase shares could hit the triple digits after a strong earnings report this week, but immediate upside appears limited because that level often generates months of sideway action. Meanwhile, a bearish reaction could test recent gains, with the stock needing to hold the $90 level to avoid a deeper slide into late 2016 breakout support. (For additional reading, check out: Why BofA May Outperform JPMorgan, Citigroup.)

 

Published at Wed, 11 Oct 2017 15:37:00 +0000

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Focus: What Distinguishes Trading Professionals From Amateurs

 

Fascinating research by Andrew Lo and Dmitry Repin at MIT hooked traders up to physiological monitors to assess their emotional responses to markets in real time.  They found that all traders exhibit emotional processing.  The least experienced traders exhibited the most extreme emotional reactivity.  The authors speculate that an important difference between experienced and inexperienced traders is that the experienced ones focus on their emotional experience to access intuitive insights.  The least experienced traders become overwhelmed by their emotional experience in a fight or flight fashion.  This could help explain why high levels of emotional experience were associated in their research with poorer trading returns in their subsequent research: moderate emotional arousal became a stimulus for focus for the pros, whereas high arousal becomes a distraction for the newbies.

This points to an essential difference between a pro trader and an amateur.  When the pro faces market challenges, he or she increases focus.  When the amateur faces challenges, focus is overwhelmed.  In the face of large market opportunity or threat, does a trader gain or lose focus?  That distinguishes successful traders from less successful ones.

In a recent post, I compared the successful trader with a sniper.  The sniper actually lowers heart rate and body arousal as the target comes into focus.  It would be an amateur who would become excited over the appearance of the target, allowing physiological arousal to interfere with aim.

I knew I had become a professional psychologist when a client opened a meeting by expressing serious suicidal feelings and impulses.  I immediately became very calm and focused and gave that person my fullest attention.  There was no way I could have done that when I was first learning in school.  It was repeated experience–and confidence gained from that experience–that enabled me to view crisis as opportunity, not threat.

Every day of trading can be practice in developing focus.  We can either exercise our concentration and attention or we can reinforce poor habits of distraction.  The successful trader does not *control* emotions.  The successful trader is sufficiently focused to learn from emotional experience.

 

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Published at Tue, 10 Oct 2017 11:50:00 +0000

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More Governments Test Out Cryptocurrencies

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More Governments Test Out Cryptocurrencies

By Nathan Reiff | Updated October 10, 2017 — 2:36 PM EDT

Central bankers in Sweden are facing a growing concern as the percentage of all retail transactions involving cash has continued to decline. In 2016, only 15% of retail transactions used cash, down from 40% less than a decade ago, as customers have largely turned to mobile payment services. The same issue is taking place around the world, and it has prompted some governments and central banks to consider launching digital forms of fiat currency. With the rising popularity of cryptocurrencies, many of these governmental agencies are wondering if a government-backed digital currency should bear similarities to the unregulated counterparts.

Digital Currencies Could Replace Cash

Although developers of digital currencies are likely to find central-bank supported cryptocurrencies to be an ironic anomaly, MIT Technology Review reports that a number of governments, including Sweden’s Riksbank, have looked into distributed-ledger technology as well as more traditional centralized methods to track and oversee digital currencies.

Economists who support the idea of a government-backed digital currency suggest that these projects would allow governments to quickly and easily issue digital tokens that function similarly to cash. The users of these coins would benefit from the anonymity of bitcoin, but they would also be guarded against volatility, hacks, and other issues that have troubled cryptocurrencies.

New Issues Would Emerge

However, shifting fiat currencies to the digital token space could also introduce a host of other problems. Rod Garratt, economics professor for the University of California, Santa Barbara, has suggested that these issues might include who would be responsible for verifying transactions and maintaining a distributed ledger. Without the natural bottlenecking that occurs when banks have to collect paper money for a series of withdrawals, citizens could empty accounts too quickly, bankrupting a central bank.

In response to this concern, the Bank of International Settlements suggests that central banks today are using obsolete programming languages and old databases for wholesale payments. Central banks in Canada and Singapore have explored how distributed ledger systems could be used to process clearing and settlement at the same time.

A bank-facing system that is not tied to consumers could potentially avoid the problem of clearance for citizens. The government of Dubai recently made headlines for launching the world’s first state-sponsored cryptocurrency. (See more: Dubai Becomes First Government to Launch State Cryptocurrency.)

Still, the technology is a long way off from adoption, and other issues are likely to remain. In the meantime, countries like Sweden still face a growing problem as mobile payment systems take over. Those means of payment are often run by private companies, and the more power that they gain, the less control governments will have over how a country’s financial system works. In the end, it may come down to whether the public in a country like Sweden ends up demanding a cash-like way of paying for things with digital means. (See more: Sweden On Track to Be the First Cashless Society.)

 

Published at Tue, 10 Oct 2017 18:06:00 +0000

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The Trader As A Sniper

 

 The Trader As A Sniper

For many years, as I was learning trading, a military poster of a sniper hiding in the brush hung on the wall of my office.  In so many ways, the sniper embodies the strengths of the successful trader:

*  Significant learning and practice precede going into the field and developing expertise.  The sniper shoots at many targets under realistic conditions before ever going into actual battle.

*  The sniper must adjust to conditions in the field.  Hiding is different in the desert than in the forest.  Shooting is different in the wind and rain.  

*  The sniper maintains supreme self-control.  The excited, high-fiving sniper doesn’t last long.  It’s the sniper who can stay motionless for extended periods of time, controlling breathing, and maintaining steadiness who can make the shot and hit the target.

*  The sniper retreats after the kill.  There is no operating on tilt, no taking of impulsive shots, no overconfidence once the target drops.  The priority becomes moving and remaining undetected.

*  The sniper weaponizes math. Many calculations precede the good shot.  The sniper adjusts for distance, gravity, and the movement of the target.  The sniper adjusts for wind speed and changes in the wind.  The slightest miscalibration sends the bullet astray.

*  The sniper follows an integrated processArmy Manual FM23-10 describes the sniper as following an “integrated act of firing”, with a preparation phase (complete maintenance and check of equipment); a before-firing phase (maintaining position and checking aim); a firing phase (controlling breathing and body movement, steady squeeze of the trigger); and an after-firing phase (noting the kill or determining errors that led to an errant shot).   

Perhaps most important of all, the sniper–like all true performance professionals–spends much more time preparing for the kill (practicing, hiding, observing) than actually shooting.  From athletics to Broadway productions, the performance professional practices and reviews performance for much more time than he or she spends on the field or stage.  It is the hours of motionless waiting and continual maintenance of the rifle and regular practice under different conditions that prepares the sniper for one good shot.

If you’re trading with a sense of excitement; if you’re spending more time trading than preparing for trading and learning from past trading; if you find yourself firing away without following an integrated process, think about what would happen to the sniper under similar conditions.  Snipers operate in an environment of opportunity–and risk.  Financial markets offer a very similar landscape.

Further Reading:  Trading Like a Sniper
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Published at Sat, 07 Oct 2017 12:00:00 +0000

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How to Trade Emerging Markets After This ETF Set a Multiyear High

 

How to Trade Emerging Markets After This ETF Set a Multiyear High

By Richard Suttmeier | October 6, 2017 — 3:47 PM EDT

The iShares MSCI Emerging Market ETF (EEM) represents 850 overseas investments heavily-weighted to China, South Korea and Taiwan. The exchange-traded fund includes popular ADRs for Chinese companies Alibaba and Baidu.

The ETF is recovering from two major bear markets. The ETF declined 40% from a high of $45.85 set during the week of Sept. 5, 2014 and a low of $27.61 set during the week of Jan. 22, 2016. This decline has been fully recovered with the ETF setting a slightly higher high of $45.98 on Oct. 5.

Investors need to be aware that this decline and recovery is within a larger bear market decline of 67% from its all-time intraday high of $55.82 set during the week of Nov. 2, 2007 to its multiyear intraday low of $18.22 set during the week of Nov. 21, 2008.

Let’s put this into prospective. The emerging markets ETF will have to rally 22% from Thursday’s close of $45.85 to the 2007 high.

Compare this to the S&P 500, which set its all-time intraday high of 2,552.51 on Thursday and is 62% above its Oct. 2007 high of 1,576.

The Weekly Chart for EEM

Courtesy of MetaStock Xenith

The weekly chart for the emerging markets ETF is positive but overbought with the ETF above its five-week modified moving average (in red) at $44.81. The stock is well above its 200-week simple moving average (in green) at $38.58.

The horizontal lines are two sets of Fibonacci retracement levels. Those at the right of the chart represent the inner decline from the Sept. 2014 high to the Jan. 2016 low. The 61.8% retracement at $38.88 lines up with the 2-week SMA.

The horizontal lines across the entire chart are the Fibonacci retracement levels of the decline from the Nov. 2007 high to the Nov. 2008 low. The 61.8% retracement of this decline is $41.46. This level has been a magnet since the week of Sept. 18, 2009.

The 12x3x3 weekly slow stochastic reading is projected to end the week at 89.17 well above the overbought threshold of 80.00.

Given this chart, my trading Strategy is to buy weakness to my quarterly and semiannual value levels of $43.59 and $38.40, respectively, and reduce holdings on strength to my monthly and annual risky levels of $46.72 and $53.86, respectively.

 

Published at Fri, 06 Oct 2017 19:47:00 +0000

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Do I Need a Certified Financial Planner to Manage Retirement?

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Do I Need a Certified Financial Planner to Manage Retirement?

By Tim Parker | December 7, 2015 — 4:20 PM EST

If you need your home painted, you look for a painter. If you need your roof replaced, you hire a roofer. If you need help with your money, it’s not as straightforward. It’s hard to figure out what kind of professional you need. Not even the financial professionals themselves agree.

Do you look for somebody with a lot of letters after his or her name? When you’re shopping for a financial professional to help plan for retirement, should you limit your search to Certified Financial Planners (CFP), for example?

Is a CFP® the Same as a Financial Advisor?

This question has an easy answer – no. “Financial advisor” is a pretty general term. It can encompass anything from an accountant to a stockbroker to a financial planner.

Not all financial planners are the same, either. Pretty much anyone can hang out a shingle and get compensated for offering financial services. According to Kathryn Hauer, herself a CFP® in Aiken, South Carolina, Certified Financial Planners take college-level courses in various finances-related fields, including taxes and insurance, and undergo exams throughout their training, including a 10-hour final exam, to receive the CFP designation. They also need to have at least three years of professional financial-planning experience.

The CFP Board also requires those with CFP® designations to commit to the fiduciary standard if they’re managing money – a legally binding standard which subjects them to federal or state regulations, and requires them to put their client’s needs above their own (see What the ‘Fiduciary Rule’ Means for Investors).

So a CFP® Is Better?

Not necessarily. Many of the advisors we asked agreed that having a CFP® establishes that you have an education, but doesn’t necessarily make you good at what you do – “no more so than a person who has a college degree is the best candidate for a job,” as Jeff Weeks, an Austin, Texas-based CFP®, puts it. Of course, “a degree, like the designation, does show a certain level of commitment and professionalism that establishes credibility.”

Matt Cosgriff, a Minneapolis-based CFP®, agrees. “The CFP® is the gold standard in financial planning, but it does not necessarily guarantee that one advisor is better than the next because experience and other factors are so important.”

Nor is it an indication of experience (beyond the aforementioned three years of practice). Tammy Johnston of Calgary, Alberta, in Canada, has been a financial planner for 22 years who doesn’t hold the CFP® designation. She says, “Some people get excited about initials behind a name, so in that case CFP® may make them feel more at ease. I have seen tons of business cards with a long list of designations, many of which meant absolutely nothing when put under the light of what the advisor was currently doing. If you have a complicated and specific need, dealing with a CFP® that specializes in your problem may be beneficial, but dealing with the right person is infinitely more important than a few letters after the name.”

What’s a Client to Do?

First, if you have a certain financial need, look for somebody who specializes in it. The CFP® designation is designed to ensure broad knowledge in all areas of financial planning. If you’re looking for somebody who specializes in a particular field (say, retirement planning), the designation alone doesn’t mean much. Look at the person’s knowledge and experience in the areas that fit your need. If they’re a CFP®, then great, but that designation doesn’t mean they’re automatically the right choice. See Common Interview Questions for Financial Planners.

Second, your advisor should be a fiduciary. Fiduciaries are held to higher moral, ethical, and legal standards than non-fiduciaries. They have to disclose certain information, including how they are paid (from fees you pay? or commissions from insurance and brokerage companies?). CFPs® must hold themselves to a fiduciary standard; however, many professionals who are not CFPs® are also fiduciaries. Make sure you ask. See Choosing A Financial Advisor: Suitability Vs. Fiduciary Standards.

Finally, ask for and check references. Johnston says, “Talk to existing clients of your potential financial advisor. Find out how they work, what type of things they have done, how they maintain the relationship with their clients, how they handle problems, and what makes them special. You want someone that you can connect with on a professional and personal level.”

The Bottom Line

Getting professional help to plan for retirement can let you do a more professional job of setting goals and choosing investments. But limiting yourself to financial advisors with certain designations is probably not the best idea. A CFP® has gone through the rigorous requirements and expense of gaining the CFP® designation and could be an excellent choice. There’s no doubt that you should recognize that level of commitment when looking for financial expertise.

However, education alone doesn’t make someone an able professional. Or the right professional for you. Along with expertise and reputation, a financial advisor’s personality should factor into your decision. Ultimately, you need somebody who cares about you (and is expert in retirement planning) more than you need somebody with letters after his or her name.

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Disney Mulled Twitter Buy, Bought BAMTech Instead

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Disney Mulled Twitter Buy, Bought BAMTech Instead

By Donna Fuscaldo | October 4, 2017 — 10:24 AM EDT

Walt Disney Co. (DIS) Chief Executive Bob Iger confirmed rumors swirling last year that it considered buying Twitter Inc. (TWTR) the embattled microblogging website operator.

Speaking during Vanity Fair’s New Establishment Summit this week, Iger said the company mulled an acquisition when it was exploring ways to provide and sell content directly to consumers. It opted instead to acquire a majority stake in BAMTech, the sports streaming service it already had an investment in.

“We thought Twitter had global reach, a pretty interesting user interface, and a compelling way that we might be able to present and sell the content our company makes to the consumer,” said Iger at the summit, according to CNBC. “But we decided, ultimately, not to go in that direction. And we ended up—took us months to do it—buying a platform called BAMTech.” The executive noted that the social media aspect of Twitter is “interesting,” but the company was focused on distribution. Disney will use BAMTech as the backing for its streaming services. (See more: Why Disney Stock Looks Cheap Given Growth Outlook.)

Chatter Over Twitter Deal

Last fall, Bloomberg, citing people familiar with the matter, reported Disney was interested in buying the social media company. That sparked all sorts of speculation as to what a combined company could look like. It also prompted some Wall Street watchers to express optimism for a deal. BTIG Research laid out in May a five-point plan to reposition the entertainment giant that included buying Twitter. According to analyst Richard Greenfield, management at the company should be using its strong balance sheet and free cash flow to “strategically reposition” it for future growth. In order to do that, he said he thought the company should stop repurchasing shares and instead use the money for acquisitions. He said at the time that Twitter would be an ideal way to reinvigorate ESPN. (See also: Disney Should Buy Twitter or Spotify: BTIG.)

While Disney chose BAMTech over Twitter that doesn’t mean the entertainment juggernaut isn’t done on the M&A front. In September, during a Bank of America media and communications conference, Iger told investors and analysts that its recent M&A activity will continue as the company aims to enhance its digital presence and take on the competition. Those comments sparked speculation with some investors betting one of the targets will be Snap Inc. (SNAP), the maker of the disappearing-message app Snapchat. That may not be too much of stretch since Disney’s newfound competitors—Alphabet Inc.’s (GOOG) Google and Facebook Inc. (FB)—expressed interest in acquiring the social media company. Google reportedly bid at least $30 billion in 2016. The offer, which was rejected by Snap, remained on the table after it went public. It’s not clear if Google is still interested in acquiring. Facebook also made an offer for Snap a few years ago, and that, too, was rejected.

 

Published at Wed, 04 Oct 2017 14:24:00 +0000

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Growing Your Trading Success

 

Growing Your Trading Success

Growing as a trader means getting deeper in the river, one foot at a time.  Deeper means building new strategies and finding new sources of edge in markets.  Deeper means expanding risk taking with existing, proven sources of profitability.  As a trader, you want to grow, and you want to do it the right way.

Kudos to Mike at SMB, who wrote this post on a trader who was tested in trading a fast moving opportunity and who passed the test.  What was key was that this trader did not go on tilt when losing money and did not lose focus.  Recognizing this, his risk manager gave him a green light and a day that started as quite a loser became quite a winner.  He took a big step in the river, but never got over his head.

Growth as a trader typically comes in two phases.  The first is achieving a high degree of consistency.  The developing trader develops rules and processes and becomes increasingly consistent in decision making.  While achieving this consistency, the smart trader trades small so that all the mistakes made out of inconsistency won’t cost too much capital.

In the second phase, the trader has to monetize his or her consistent trading by expanding risk taking.  This must be done in a way where the risk taking finds increasing depth, but where the risk taking is never jumping in with both feet.  Often the problem is that, during the phase of consistency, the trader has acclimated to small risk taking.  Having traded small for many months, the trader internalizes the sense of being a small trader.  No one has achieved great things with small vision.

It’s a tricky combination:  revising one’s trading self-concept–learning to think big after having managed small risk–while still retaining the rules, processes, and consistency.  Perhaps the greatest impact of a trader passing the test is the impact that success has on the other traders on the floor.  “If they can do it, why can’t I?” is the natural response.  That’s the best encouragement of all to get a little deeper in the river.

Further Reading:  Trading and Risk Intelligence
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Published at Fri, 29 Sep 2017 15:40:00 +0000

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Gold and cash reign as U.S. fund investors pare stocks: Lipper

 

Gold and cash reign as U.S. fund investors pare stocks: Lipper

NEW YORK (Reuters) – U.S. fund investors gorged on gold and traded stocks for cash during the latest week, showing caution even as markets trend higher, Lipper data showed on Thursday.

More than $16 billion took shelter in low-risk, U.S.-based money-market funds during the seven days through Sept. 27, the research service’s data showed. Precious metals commodities funds, which invest in gold and similar assets, took in $977 million, the most since July 2016.

Stock mutual funds and exchange-traded funds, by contrast, posted $9.7 billion of withdrawals, Lipper said. That counts as the largest outflows for that group of funds since June.

“People were taking risk off from the high-flying stocks,” said Tom Roseen, head of research services for Thomson Reuters’ Lipper unit.

The U.S. Federal Reserve last week signaled it still expects one more rate hike by the end of the year despite a bout of low inflation that Fed Chair Janet Yellen called “a mystery.” Aggressive rate rises could dent stock valuations.

Roseen said investors shifted into less-loved areas of the market, including banks that can benefit from higher interest levels by lending at higher rates.

“This can actually be seen as a healthy move,” said Roseen.

Financial and bank sector stock funds attracted $599 million during the week, the most since July, according to Lipper.

President Donald Trump on Wednesday put forward a U.S. tax reform plan investors have been anticipating since his 2016 presidential victory, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit.

Reporting by Trevor Hunnicutt; Editing by Leslie Adler and Jennifer Ablan

 

Published at Thu, 28 Sep 2017 23:23:15 +0000

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Investors scoop up billions in bonds, most since July: ICI

by Pexels from Pixabay

 

Investors scoop up billions in bonds, most since July: ICI

NEW YORK (Reuters) – Investors throttled up their bond exposure in the latest week, adding the most cash to U.S.-based debt funds since July as momentum for U.S. stock funds stalled, Investment Company Institute (ICI) data showed on Wednesday.

More than $11 billion rolled into U.S.-based bond mutual funds and exchange-traded funds (ETFs) during the week ended Sept. 20, including a 42nd consecutive week of inflows for taxable-bond funds, the trade group said.

Domestic stock funds continued to struggle, with outflows of $2.1 billion during the week, according to the ICI.

Meb Faber, chief investment officer at Cambria Investment Management LP, said people may be starting “to get jittery” about U.S. stocks after an unusual bull run that has lasted more than eight years fueled by demand for ETFs and corporations buying back their own stock.

“The outlier really is the U.S. on the expensive side. Most of the rest of the world is normal to quite cheap,” said Faber.

“People may just be running out of places to find yield.”

World stock funds also netted cash for the 42nd consecutive week, attracting $3.1 billion during the seven-day period.

International stocks are on pace to chart their best performance against U.S. equities since the 2009 global financial crisis, according to MSCI Inc data. They underperformed in each of the last four years.

The rebound in international stocks is likely to be sustained, Faber said. “We think it is a multi-year process.”

Reporting by Trevor Hunnicutt; Editing by Richard Chang

 

Published at Wed, 27 Sep 2017 19:58:35 +0000

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Quick Entries

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By scym from Pixabay

Quick Entries

by THE MOLE

My VPS finally came back online after what in the end amounted to a 48 hour outage. Quite frankly speaking in this day and age this is an outrage, especially in an industry operating on razor sharp margins and literally increasing global competition. The one positive take away was that I finally relented and started looking for a more professional operation guaranteeing at least 99.9% uptime. And I think I may have found just what I was looking for.

Some helpful folks on a hosting forum pointed me toward the existence of ‘forex VPS providers’, a niche market I wasn’t even aware existed. Turns out forex VPS providers are catering exactly to traders like you and me who want to externalize their setups and usually require Windows based virtual systems, comparatively little bandwidth (no website or blog visitors), but solid and scaleable CPU power. I managed to set up an SSH server last night within just 15 minutes and then copied almost everything onto the my VPS. Thus far everything seems to be working fine and if I don’t run into any hurdles I plan on switching over to the new VPS this Sunday.

Before we get on with business I would once more like to extend my gratitude to all subscribers who have been extremely patient and supportive during what turned out to be two very stressful days for me. You guys are great and your continued support is very much appreciated.

2017-09-27_spoos_entry

With three Fed speakers on the roster later today it’s most likely going to be a quiet watch and observe day. However there are two long entries I think have potential, the first one being the E-Mini. The formation on the short term panel looks like as if we may see an attempt to breach higher sometime soon. I’m long here with a 0.5% R size (as I am expecting spikes in volatility) with a stop below the recent major spike low at ES 2485.

2017-09-27_CL_re_entry

As anticipated yesterday, crude dipped below my trailing stop at 1R. I am however back in long with a stop just below that SL at 51.43. No guarantees but we are looking at a potential break out and trending situation so I’m willing to risk a 0.5% R size here for a potential short squeeze with a vengeance.

2017-09-27_USDCAD_update

USD/CAD is still in the running and continues to look solid. I’m advancing my trail to just below 1.233 as the cautious approach thus far has served us well. Looking at the recent short term gyrations it becomes clear that this has not been an easy campaign. But realized volatility seems to be slowly dissipating which opens the door for a more sustained and directional advance higher.

 

Published at Wed, 27 Sep 2017 13:04:04 +0000

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The Most Important Reason Traders Can’t Size Up Their Positions

 

The Most Important Reason Traders Can’t Size Up Their Positions

It’s really true:  confidence doesn’t come from success alone, but rather from facing failure and moving beyond it.  When you’ve been tested and tested and tested again, you begin to recognize that the tests are what make you stronger.  They provide the opportunity of learning, not merely the threat of loss.

But many traders fail to look fear in the face.  They chronically undersize positions in an effort to prevent major losses.  When their ideas work out, however, their undersizing also prevents major gains.  Over time, those traders are nagged by the sense that they have skill, learning, and an edge in markets, but are not taking proper advantage of their strengths.

So they come to me and ask for help in risk-taking.  They want to size up positions, but can’t bring themselves to do it.  It’s too scary to look fear in the face, so they settle on quick glances.

Why is this?  Why are some very talented traders unable to take optimal advantage of their talents?

I recently met with a group of traders and reviewed their journals.  Most of the journal entries were very detailed, suggesting hard work and desire to improve.  The entries went through the trades they put on, how those trades went, and what they could have done better to manage the positions. Sometimes the journal entries also spoke of missed opportunities and positions sized too large or taken in the absence of a clear signal.

My first reaction was that these journals are a waste of time.  They outline problems, but don’t contain any detailed plans for correcting those problems.

But I was wrong.  The journals were worse than a waste of time.  They were killing the traders.

Look at it this way:  Suppose I kept a detailed journal of your life and wrote down everything you did wrong, as well as the things you could have done better.  Better yet, imagine approaching a young son or daughter in this manner.  What would be the result?

Damaged self-confidence.

If you keep harping on what you do wrong, why would you internalize a sense of opportunity and achievement?  If all you focus on is what you could have done better, eventually you’ll believe that all you can do is fall short.  A good sports coach or military leader knows when to praise and when to criticize: when to build up and when to tear down.  Without the building up, all we do is tear down.

So what happens?  We make money but internalize the sense of “could have done better”.  What we don’t internalize is confidence.  We’re never on the front foot when taking risk because we’ve programmed ourselves to expect shortcoming.

Take a look at your trading reviews and journals.  Do they inspire?  Do they focus on specific learning and achievement, or are they simply ventings of frustration and things that didn’t go as well as possible?  Many, many traders are not working on their trading at all.  They are working on tearing themselves down.

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Published at Sat, 23 Sep 2017 13:08:00 +0000

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What Is The Value Of Technical Analysis?

 

What Is The Value Of Technical Analysis?

A recent post from the excellent Mathematical Investor blog questions whether the use of chart patterns and technical analysis truly offers value in financial markets.  The authors point out how easy it is to manipulate information to look significant (commonly encountered when an “analog” to the current time period is found in a previous historical period).  Indeed, it’s possible to find historical analogs to any market behavior simply because the search space over the course of financial history is so large.  This is classic overfitting: the similarities of today and the past are likely to be chance artifacts.

As one astute market participant noted to me, one has to be suspicious that other disciplines do not make use of chart patterns and indicators of historical time series.  If, for example, a weather forecaster were to note that today’s warm temperature is a breakout from the recent range of temperatures and therefore we should see temperatures trending higher through the week, this would not be a credible forecast.  Nor would we take seriously a weather forecast that looked for configurations of cloud patterns.

Although the validity of technical patterns is often questionable (How often do we see valid backtests of assertions made on technical grounds?), it is their poor reliability that I find particularly problematic.  It is not unusual to find two technicians look at the same chart and arrive at radically different conclusions based upon the lookback period considered and the definition of the pattern.  One might see one wave count in a given market; another will arrive at a different count.  Both will entertain “alternate counts” that lead to radically different conclusions.  Can you imagine radiologists arriving at wildly different interpretations of imaging scans?  The lack of reliability would make it difficult to develop any kind of valid surgical intervention.

All that being said, I do see empirical work out there that links past returns to future ones.  Very often, these studies find value and momentum effects (circumstances in which past returns lead to reversals or continuation) that are tested for economic as well as statistical significance.  I have also seen traders firmly define patterns that “set up” in intraday markets and test them out for skews in forward returns, creating successful “playbooks” that guide their trading.  This study of market intraday momentum recently came to my attention as an example of more rigorous implementation of price patterns as potential predictors.  I also observed a daytrader this past week rigorously test a pattern of behavior in the VWAP of stocks that led to short-term momentum.  

Does technical analysis have merit?  I would argue yes, but more as a source of hypotheses than as a source of conclusions.  We can frame market behavior in terms of patterns, but it is important that these patterns be defined objectively and tested properly before they merit the investment of hard-earned dollars.

 

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Published at Wed, 27 Sep 2017 12:10:00 +0000

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Wall St. edges up on modest tech rebound

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 2, 2017. REUTERS/Brendan McDermid

 

Wall St. edges up on modest tech rebound

NEW YORK (Reuters) – U.S. stocks advanced modestly on Tuesday as technology shares bounced from sharp losses in the prior session and comments from Fed Chair Janet Yellen boosted expectations of a December rate hike.

Yellen said the Fed needs to continue gradual rate hikes and it would be imprudent to leave rates on hold until inflation reached the Fed’s 2-percent target.

Earlier in the session, Atlanta Fed Chief Raphael Bostic, a non-voting member this year, said he would want “clear evidence” that prices were firming before committing to another rate increase, but did not rule out another hike in 2017.

Chances of a rate hike in December rose to 78 percent from about 40 percent a month ago, according to CME Group’s FedWatch tool.

“Until either (she) or her cohorts say something that is not expected, the market is going to roll over pretty much everything they say,” said David Schiegoleit, managing director of investments, U.S. Bank Private Wealth Management in Newport Beach, California.

Economic data showed U.S consumer confidence fell in September while home sales dropped to an eight-month low in August due to the impact of Hurricanes Harvey and Irma.

The Dow Jones Industrial Average .DJI rose 11.5 points, or 0.05 percent, to 22,307.59, the S&P 500 .SPX gained 2.69 points, or 0.11 percent, to 2,499.35 and the Nasdaq Composite .IXIC added 20.25 points, or 0.32 percent, to 6,390.84.

Technology .SPLRCT, up 0.56 percent, was the best performing major sector, recovering somewhat from losses in the prior session. Tech shares suffered their worst one-day drop in five weeks on Monday as concerns over tensions with North Korea prompted investors to book profits in what has been the best performing sector this year.

Apple (AAPL.O) rose 2.11 percent after four straight sessions of losses to help prop up the three major indexes, after Raymond James boosted its price target on the iPhone maker to $180 from $170.

“When we woke up today and the lights still came on everybody may have said there are some opportunity in those tech shares. It is simply just a little bit duller, mirror image of what we saw yesterday,” said Schiegoleit.

Marine Corps General Joseph Dunford said the U.S. regards North Korea as the world’s greatest threat but despite an escalation in tensions over its ballistic missile and nuclear program, Pyongyang has not changed its military posture.

Darden Restaurants (DRI.N) slumped 5.60 percent after the Olive Garden parent said it expected the negative effects on sales and earnings from Hurricane Irma to be about double that from Hurricane Harvey.

Red Hat (RHT.N) rose climbed 4.09 percent after the Linux distributor’s quarterly profit came in above estimates and the company raised its full-year forecast.

Advancing issues outnumbered declining ones on the NYSE by a 1.53-to-1 ratio; on Nasdaq, a 1.59-to-1 ratio favored advancers.

Reporting by Chuck Mikolajczak; Editing by Nick Zieminski

 

Published at Tue, 26 Sep 2017 18:46:54 +0000

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Finding Energy and Purpose in Your Daily Life

 

Finding Energy and Purpose in Your Daily Life

You are working hard, but are you working on the right things?

You are climbing the ladder, but is it leaning against the right wall?

You are busy, but are you productive?

Are your daily efforts energizing you or draining you?

Is most of your time spent coping with challenges or implementing a life vision?

You are leading your life, but are you truly leading your life?

Too many people I meet with are working hard and doing the best they can do to cope with daily challenges. They are striving but not thriving. This latest post addresses how we can bring visionary leadership to the leading of our lives.  It might be the most important thing I’ve written.
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Published at Sun, 24 Sep 2017 15:36:00 +0000

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