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Created on: 7/18/2011 7:18:28 PM Last Update: 7/18/2011 7:19:31 PM Posted by: RTT
WARNING: This entry is 4999 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Barry Ritholtz, one liner on how to approach the stock market
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 Barry Ritholtz of the famous 'Big Picture Blog' via a simple blog post stated simply what every investor must master when judging price action within the stock market, and its not rocket science.
Source: Look Out Below, Euro Stress Test Version
Extract
My view has long been that day-to-day action is mostly noise; if you are looking for “signal” amongst the background static, you should focus on two things: Trend and Oscillators.
Trend smooths the noise and provides a basis for directional trading.
Oscillators allow you to determine when various metrics with probative value have reached extreme levels that frequently occur nearing major turning points.
The easy rationales (RTT:news stories of the day) for market action should be discarded as worthless; those who push such silliness to a gullible investing public should be looked at askance.
Those who claim to know actually know nothing.
COMMENTS: We at readtheticker.com could not agree more.
Trends: Trends can and do take many forms, using a 200 SMA or a trendline just does not cut it. You must select a tool that allows a measure of time versus price. How many units of price are you banking for how many units of time. Plus trends are birthed from sideways patterns (accumulation and distribution) therefore a methodology is required to make a judgment of such patterns.
Oscillators: All standard oscillators have a voluntary period input (MACD, RSI, Stochastic), who is to say that the period allocated is statistically significant to the underlying security. Yes well all know price does oscillate (or cycle) therefore we need a tool to determine statistically significant oscillations or cycles.
Our response to the above is a tool set from Wyckoff, Hurst and Gann (or Wyckoff 2.0). Reading through readtheticker.com will provide the investor with sophisticated tools to correctly determine the better trends with statistically significant oscillations or cycles.
NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.”...
Jesse Livermore
.."Earnings don’t move the overall market; it’s the Federal Reserve Board… focus on the central banks and focus on the movement of liquidity… most people in the market are looking for earnings and conventional measures. It’s liquidity that moves markets"...
Stan Druckenmiller
.."Wait for that wisest of all counselors, Time"..
Pericles
.."A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. If bureaucrat makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you"..
Ayn Rand
."Buying stuff people hate, that's the business we are in, right!"..."you may need to have a longer time horizon"..."be patient"..
Mark Yusko
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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