Opportunity Investing: The Myth of Buy and Hold

Sep 16, 2005

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Opportunity Investing: How To Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, ... and Every Time in Between

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General Suggestions

Although the NASDAQ/NYSE Index relative strength indicator has been quite useful, and may be beneficially employed by investors who want to spend just a minimum of time in tracking the stock market, you will be learning other, somewhat more time-consuming, timing models that have been more efficient in the past when tracked in a very formal manner.

The NASDAQ/NYSE Index relative strength indicator is a fine "mood indicator," an indicator that reflects general levels of investor optimism and speculative interest (which usually favor stocks when they are high, if not too exuberant). Although the indicator does have its formal parameters, you might want to also evaluate trends. Is the indicator showing increasing or decreasing strength in NASDAQ versus the NYSE Index, even if no moving average reversal crossings have taken place? Does a crossing of the moving average by the weekly ratio seem imminent? Favorable buying junctures frequently take place when the NASDAQ Composite has been lagging the NYSE Index in relative strength but is showing signs of catching up. You probably have the idea by now.

We return to the matter of market timing in due course. Let’s move along at this time to the creation of efficient investment portfolios.

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