Quick Hitters

Pretty boring couple of days for the market. Here are a few things I spent the day thinking about:

  • $BEAV did breach its 10-day moving average on volume last week. Probably should have sold it there but I didn’t. It has since regained the line and held up nicely, so we’ll see. $PCLN has behaved well with respect to the moving averages so I’ll keep holding that as well.
  • $AAPL is ridiculously funny to watch. I tweeted that I missed out on it because it was a Late Stage Base. @SJosephBurns tweeted back that “according to Darvas it was a breakout play.” That was an interesting way to think about it. Outside the box for me.
  • I was listening to Michael Covel‘s latest podcast yesterday and he said a few things that really struck me. He basically illustrated the Trend Following perspective as “This is the way the world is. I’m not going to be able to change it. The best I can do is adapt to it and learn to profit from it.” I thought this was an interesting angle, which of course is what Covel is great at doing. He also discussed how excited people in Southeast Asia are about making money and getting wealthy. He contrasted that with depressed and over medicated Americans. I see a lot of truth in that.
  • I read in a book today that Bill O’Neil hasn’t taken a vacation since 1982 (the year before I was born!) and that he left that vacation early to get back to work. I find myself leaning that way, but probably will never achieve that level of dedication. Not sure how that will affect my success in this line of work. I guess time will tell and this blog will document it.