I don’t know how you were taught to approach markets.
But I still have Ralph Acampora in my head. I can still hear him yelling, “Don’t Fight Papa Dow!!”
He’s referring, of course, to the Dow Jones Industrial Average, and respecting the direction of its trend, and its components.
We just saw back to back positive weeks for the Dow Industrials for only the 4th time in 2022. See here.
This weekend I published a note about how underrated I find the Dow Jones Industrial Average to be among traders and investors.
Not sure why people get so upset about the Dow. I find it really valuable and shared some of my favorite hacks here.
The Dow is not something I want to fight. In fact, I was specifically taught not to.
So here’s what this looks like. You can see the Pre-Covid highs that were taken out in Q4 2020. And now here we are, back to the scene of the crime.
Roundtrip: [Read more…]