Mark Minervini 为什么总是说“Stocks have the final say”-TheTrendFollowing

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Thursday, Mar 2, 2023, 9:32 AM ET

If you have been with me for any length of time you have heard me say many times that “stocks have the final say” If you take a look at our list of Focus List names for the week, it may not be telling to most however, from where we sit there are a number of things to point out. For example, a name like MYE is a classic casualty of what we’ve seen since the start of the year. Stocks break out from a well-formed pivot point, attempt to follow through and then WHAM! We are seeing that type of volatility this morning in AEHR as we also felt in RVNC yesterday.

The breakouts that are working are still subject to aberrant volatility at ANY moment which is again a symptom of a bear market characterized by a lack of bids from institutions who aren’t stepping to the plate with an appetite for risk.

Too often the names that work – like an AXON – are subject to too much volatility. Some might say the solution is to hold through the bigger declines, but that would do nothing but add risk and that is only a solution in hindsight.

This is the type of environment that wears people out and makes them want to throw in the towel. That’s a good thing because that is what ultimately creates an effective bottom. As you have heard me say many times “while you do nothing, the lesser-skilled and undisciplined are laying the groundwork for your success.” Your goal in a bear market is not to make money, rather to stay small and mostly sidelined while others are getting worn, not be the one getting worn out!

-MM

If you have been with me for any length of time you have heard me say many times that “stocks have the final say” 如果你看看我们本周的焦点名单，它可能不会告诉大多数人，然而，从我们坐的地方有一些事情要指出。例如，像MYE这样的名字是一个典型的牺牲品，我们已经看到，因为今年年初。股票突破从一个良好的支点，试图通过，然后WHAM！我们今天上午在AEHR看到了这种波动，就像我们昨天在RVNC也感受到的那样。

正在发挥作用的突破仍然随时受到异常波动的影响，这又是熊市的一个症状，其特点是缺乏没有风险偏好的机构的出价。

通常情况下，那些起作用的名字——比如关键点——会受到太多的波动性影响。有些人可能会说，解决方案是在更大的跌幅中保持住，但这只会增加风险，这只是事后的解决方案。

这种环境会让人筋疲力尽，让人想认输。这是一件好事，因为这最终创造了一个有效的底部。正如你听我说过很多次“当你什么都不做的时候，那些不熟练和不自律的人正在为你的成功奠定基础。”在熊市中，你的目标不是赚钱，而是保持小规模，当其他人被磨损时，大多数人都在观望，而不是成为被磨损的人！

-MM

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