Indifferent relative strength kept us out of WMT during 1992, even though the stock’s nominal...
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Relative Strength Divergence
The next chart shows the normalized performance of Wal Mart (WMT) and the benchmark against which...
Module 4 – Relative Strength
Computing Relative Strength Here’s a mental experiment in relativity: Imagine that you are...
Liquidation
After we sell short at L, we have only to wait for the index to tell us whether our judgement is...
Selling Short
From K, a rally begins. If the rally is merely a correction of the oversold condition at K, rather...
Sign of Weakness
Our outlook for this index at I is now bearish enough that we have liquidated our long position...
Psychology
Distribution is only possible when the mass of traders are positive on the market. Published...
Selling Turns Aggressive
After a correction to E, the index rallies weakly before gapping to a correction low at F. By now...
Passive Selling
After our purchases at A and again at B, the index rallies strongly over the following two months...
A Rising Market
Next, we take up the action of an industrial index as it rises out of a period of reaccumulation...
Module 3 – Distribution
The Art of Selling Trading is a business of merchandising. As in any such business, the objective...
Mark Up
We established our long position by increments at I, J and M. Now GE rallies into a range of supply...