Inside The Stock Market ...trends, cross-currents, and outlook
View From The North Country
Chasing the tale of past performance…The large cap indexing stampede. It’s not too late to get invested in emerging market funds. Also “Richer than your wildest dreams”…The advertising pitch of online trading firms. Who is protecting the public from this?
Volatility Update...Reaching Extreme Levels
April was another volatile month. Of the 20 trading days, seven posted moves of 1% or more (35%).
Revenge of the Nerds
I don’t ever recall seeing a month with such a sudden and dramatic change in market character, at least not in terms of sector and group leadership.
Insider Block Measures...Registers A Sell Signal In April
The 10 week average temporarily broke through extreme net selling territory on April 21st. The latest reading (through April 28th) has broken back below this extreme net selling line...temporarily?
Have Cyclicals Become the New Market Leaders?
There were unprecedented sudden and dramatic changes in market character in April. Have Cyclicals become the new market leaders? Is Value investing finally going to start paying off again? Is the extended period of small cap underperformance finally over?
Insider Block Measures...Currently At Dangerously High Levels
The current high level of selling is forecasting a rocky road ahead for the stock market.
View From The North Country
Transcript from late February conference call with Steve Leuthold and Byron Wien covering a wide spectrum of timely investment topics.
March Mutual Fund Flows
There were two weekly periods of net redemptions in March, both occurring in down market weeks. Weekly inflows bounced back strong during the weeks the market rallied, but it is obvious that volatility of weekly cash flows has been a reflection of stock market volatility.
First Quarter 1999: Only Indexers And Internet Players Liked It
S&P 500’s cap weighted 5% Q1 return overwhelmed most active manager’s returns.
Profitless Prosperity
Earnings are declining, while stock prices are marching higher. GDP strong, but corporate profits have weakened considerably.
Online Trading: The New Gold Rush
Yes folks, it’s the road to riches. Quit your job, jump in front of your computer, and join the rush to the bonanza of online trading. With minimal work, and effort you could be set for life.
Volatility Update
Volatility remains high in 1999.
Insider Block Measures...Back Again At Dangerously High Levels
The extreme selling dollar volume is confirmed by the ten week average number of net sells. Latest weekly reading registered 290 net sells (a 40 week high) driving the average into bearish territory.
February Mutual Fund Flows
Net inflows into U.S. focus equity funds for February were significantly down from January.
Main Street Confidence: The Critical Market Factor
What might threaten Main Street equity confidence???
View From The North Country
Contrary to Wall Street wisdom, rising MZM is not necessarily indicative of Fed easing. Nor does contracting MZM mean a tightening Fed. Also, unlocking the mystery of the low U.S. savings rate.
Back on the Sidelines
Back on sidelines again, Major Trend Index negative. Stage being set for a huge small cap market.
The Expected Flood Never Arrived
In December 1998, nearly everybody seemed bullish about early 1999 (including me). A seasonal flood of new money was expected to run the market on the upside in the first quarter…..But, the flood never came.
Playing The Bouce Update
We did not employ this tactical trading strategy in late 1998. Buying the beat up stocks late in the year and holding them into mid-February had been a consistent winning strategy...that is until the last four years.
Technology and Financial Sectors, Together Now Make Up 35% of U.S.Stock Market
BROAD SECTOR PERCENTAGE BREAKDOWN BY 3000 STOCK UNIVERSE
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