Active equity mutual funds just recorded their 11th consecutive year of outflows. This year alone, $1 trillion fled into passive index funds. That’s not a typo. One trillion dollars abandoned stock pickers for autopilot investing. I’ve traded for 38 years. I’ve never seen concentration risk like this. The Genesis Cog Scanner tracks exactly when this

I was fully invested in 2001. You can tell what happened to me. The dot-com bubble burst, and I watched my portfolio evaporate. Then I tried to play that game again in 2007. We ran up, and I got fully invested again. We all know what happened there. Fool me twice, shame on me. I

This is a dangerous market. I told you five weeks ago there was zero chance of a selloff. Nothing has changed. Yet, I know many traders feel the need to “find” setups before 2026. That’s a great way to obliterate any gains you achieved in 2025. The market is frozen in a block of ice

I’m short Las Vegas Sands at 67. Caesars is down. Wynn has been sliding all month. The entire casino sector is underperforming while the S&P grinds higher. Nobody’s asking why. The answer isn’t in the charts. It’s in Washington.  Lobbyists are pushing to regulate and slow down the proliferation of gambling across the United States.

Pull up the four-hour MACD on the S&P 500.  You can draw a straight line across it.   That horizontal line tells you everything about this market. The algorithms have locked us in a range between 6,800 and 6,900. They will not let it die. I keep thinking about the 1990 horror film Flatliners. Medical

I can count the cheap technology stocks on one hand. Out of a thousand names, almost nothing qualifies as a buy right now. Valuations stretched beyond reason. Multiples that would make any fundamental analyst cringe. Then an analyst came out this weekend and said something I actually agree with. Adobe is cheap. I use Adobe

I finished my last undergrad class this semester.  Done teaching at Loyola until January when the grad course picks back up. Walking through campus in that freezing wind, I kept thinking about something Shaquille O’Neal said. An interviewer asked him about being worth half a billion dollars.  Shaq said he would not tell them exactly

FedEx delivered earnings yesterday. They beat estimates by 20%. The stock reversed $27 intraday and closed in the red. I got two emails last night from traders who bought the after-hours spike. They wanted to know what went wrong. I told them the same thing I’ve told everyone for 38 years. Never, ever, ever trade

The market rallied 87 points this morning on inflation data. Consumer prices supposedly slowed to 2.7%. Jobless claims came in light. Wall Street grabbed the numbers and ran. I watched from Chicago as the algorithms locked into a feedback loop. Micron beat earnings. The macro data looked dovish. Two catalysts gave the perma bulls exactly

My mom bought me and my brother a Slip and Slide when we were kids in Beverly Hills. We had a pool in the backyard. But when the neighborhood kids came over, we all played Slip and Slide instead. You remember the game. Fill up that crappy plastic rollout thing with a hose. Dive onto