From an Apple II at 2 a.m. to an Institutional 'Must Have'

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Editor's note: Today, we're sharing more details of how Chaikin Analytics founder Marc Chaikin first developed a critical piece of the Power Gauge...
On Monday, Marc explained how following trading volume was the crucial first step for creating his special Chaikin Money Flow indicator. And in today's essay – adapted from an October special report from our Smart Money Trader publication – he continues with more of the story of how he developed the indicator...

From an Apple II at 2 a.m. to an Institutional 'Must Have'

By Marc Chaikin, founder, Chaikin Analytics

I'm sure many of you are business owners, high-level managers, or other professionals...
So you likely know that a huge gap exists between dreaming up a good idea and making money with that idea. It takes a ton of hard work to turn an idea into a product.
With the Chaikin Money Flow indicator, I knew I had something special.
But it was basically worthless if it never left my head.
My family lived in a two-bedroom apartment in New York City at the time. My two sons were around 12 and 13 years old. And our family's Apple II computer was in their bedroom.
They would go to sleep. And I'd be sitting across the room, typing away late into the night.
So when it came time to name my work, I didn't need to think too hard...
I put our family name on it.
I hoped at the time that my kids would one day understand why I was banging away on the computer till 2 a.m. And with our name on the product, I imagined they would be proud.
But to build something special, you also need to work with good people...

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Beware of THIS 'Conventional Investing Wisdom'

Former Goldman Sachs insider Dr. David Eifrig reveals the reason so many people, including you, could see their wealth wiped out in the next crash. This is directly a result of "conventional investing wisdom" your broker has probably told you before. Your investment or financial adviser is incentivized not to tell you how big a risk this really is... But Dr. Eifrig will give you the full story for free.

That brings me to Bob Brogan.
I first met Bob when he was an institutional salesman in the mid-1970s in Philadelphia.
We started an office for Tucker Anthony and R.L. Day. And we stayed in touch when I left Tucker Anthony in 1982.
In 1989, we joined forces to form Bomar Securities. Bob brought all his institutional clients from the Mid-Atlantic region – places like T. Rowe Price in Baltimore, several banks in Washington, D.C., and the value-oriented investors in Philadelphia.
My son Eric was now an adult at that point. He programmed the terminal we used. It focused on money flow, volatility bands, and relative strength.
Bob took the suitcases and computers to his clients. He worked his butt off for what felt like 24 hours a day, seven days a week.
He would analyze clients' portfolios by hand over the weekend. He'd look at all the charts. And then, on Monday, he would send them a customized chartbook through FedEx.
Our clients loved it. But Bob started to burn out. So the two of us talked. We walked through his process. And together, we realized what our clients wanted so badly from Bob...
The money flow data.
Specifically, clients wanted to see the stocks in their portfolios with negative money flow.
I spoke to Eric and our programmers. And they developed a system to replicate Bob's work.
Bob and I worked together for years. We eventually sold Bomar to Reuters in 1992.
Bob stayed on for a bit after the sale. Then, he started a money-management firm. And finally, he had his own brokerage firm.
His sons run that business now. To this day, they prioritize the money flow data.
But they aren't the only ones still using this data...
I've built the Chaikin Money Flow indicator right into my Power Gauge system. And today, it's still helping investors spot where institutional money is heading in stocks.
Good investing,
Marc Chaikin

Editor's note: In Smart Money Trader, Marc homes in on the Chaikin Money Flow indicator to spot these kinds of buying patterns from big institutions. Combined with the specific "buy" signals in the Power Gauge that relate to this indicator, it's a powerful way to invest alongside the so-called "smart money" on Wall Street.
If you aren't already a subscriber, find out how to get started with Smart Money Trader right here.

Market View

		# Hld: Bullish Neutral Bearish
Major Indexes and Notable Sectors

Dow 30

+0.81%

S&P 500

+1.08%

246

165

Nasdaq

+1.36%

Small Caps

+0.88%

418

1015

472

Bonds

+0.37%

Consumer Discretionary

+2.33%

— According to the Chaikin Power Bar, Large Cap stocks are more Bearish than Small Cap stocks. Major indexes are mixed.

* * * *

Sector Tracker

Sector movement over the last 5 days

Information Technology

+0.24%

Health Care

-0.07%

Financial

-0.2%

Utilities

-0.29%

Communication

-1.39%

Industrials

-1.56%

Discretionary

-2.06%

Energy

-2.27%

Staples

-2.49%

Materials

-2.75%

Real Estate

-3.8%

* * * *

Industry Focus

Retail Services

Over the past 6 months, the Retail subsector (XRT) has underperformed the S&P 500 by -4.62%. However, its Power Bar ratio, which measures future potential, is Strong, with more Bullish than Bearish stocks. It is currently ranked #5 of 21 subsectors and has moved up 12 slots over the past week.

Top Stocks

	BBW	Build-A-Bear Worksho
	LAD	Lithia Motors, Inc.
	GCO	Genesco Inc.

* * * *

Top Movers

Gainers
	TSLA	+8.04%
	SMCI	+6.48%
	AVGO	+3.16%
	AVB	+3.04%
	ALGN	+2.86%

Losers
	LW	-2.68%
	HSIC	-2.31%
	ERIE	-2.02%
	TECH	-1.92%
	PFG	-1.74%

* * * *

Earnings Report

No earnings reporting today.

Earnings Surprises

No significant Earnings Surprises in the Russell 3000.

* * * *

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© 2024 Chaikin Analytics, LLC. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Chaikin Analytics, LLC. 201 King Of Prussia Rd., Suite 650, Radnor, PA 19087. www.chaikinanalytics.com.

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Chaikin Analytics forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Chaikin Analytics, LLC (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation.

This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.

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From an Apple II at 2 a.m. to an Institutional 'Must Have'

From an Apple II at 2 a.m. to an Institutional 'Must Have'

Buy Alert: 'The Perfect Stock for 2025'

Beware of THIS 'Conventional Investing Wisdom'

Market View

Sector Tracker

Industry Focus

Top Movers

Earnings Report

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