New Highs and New Lows: Breadth Context for Breakouts

The index closes at a fresh high, the headlines call it a strong market, and my breakout list has three names on it. Two of them reverse back into their…

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Effective Number of Holdings: A Concentration Check

A trader opens a brokerage statement and counts twenty tickers. Twenty names feels diversified. Then two of those positions have run so far that together they carry roughly half the…

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