Up or Down? Establishing Directional Bias – Live with Mark Ritchie II

Published on
July 1st, 2020
61 minutes


Up or Down? Establishing Directional Bias – Live with Mark Ritchie II

Live ·
Featuring Mark Ritchie II

Published on: July 1st, 2020 • Duration: 61 minutes

Trading markets is a complicated game. Of this, there is no doubt. However, at its very core, there is one simple question that must be addressed, regardless of how one goes about finding the answer. That is, up or down? Bull or bear? This question lies at the heart of all financial analysis and forms the basis for any trade that takes place across global markets. In this segment of Real Vision Live, Ed Harrison sits down with Mark Ritchie II, CIO of RTM Capital Advisors, to understand not just this dynamic of establishing directional bias, but to explore why he personally has taken a bullish position in these seemingly never ending choppy conditions. Available to All Tiers.



  • mw
    michael w.
    10 September 2020 @ 05:20
    He nailed this call.
  • AJ
    Adam J.
    26 July 2020 @ 04:51
    Always enjoy watching the Ritchie family interviews. I appreciate and try to emulate MRIIs approach in terms of distilling signal from noise via price action analysis. He reinforces that adaptability in terms of time frames and directional bias is yet another source of edge as a trader. As another wise HFM said to me once: "there are no facts, just opinions", and for this reason, the ability to read price properly is key, in my [relatively] limited experience. Thoroughly enjoyable piece! Thank you Ed and MRII!
  • SG
    Sashi G.
    20 July 2020 @ 10:00
    Almost every question that Ed asked around numbers (whether Amazon or Market PE, etc) - Mark deflected back to his trend following strategy, period. Haven't heard TINA in a long time with regard to equities being the only "game" in town.
  • SG
    Sashi G.
    20 July 2020 @ 09:35
    I hear pure trend following strategy from this interview of Mark. Which works, till it doesn't. He has seen the best trend following market ever since he started his career (since he refers to 2009).
  • SG
    Sashi G.
    20 July 2020 @ 09:25
    If one believes Mike Green's thesis about passive investing distorting traditional indicators (like advance-decline ratios, number of stocks above a certain moving average, etc.) because of the buy all impact of passive index investing, then the current rally is more a reaction of too much money chasing the market higher, rather than people being bullish. It only stops when money does not come in to the market.
    • SG
      Sashi G.
      20 July 2020 @ 09:25
      Needless to add, that goes against Mark's thesis in this interview.
  • SB
    Stewart B.
    13 July 2020 @ 11:49
    I fear Mark is right. What people are missing is the displacement effect of central bank's purchases. These are pushing markets higher. Each $1 of central bank purchases creates much more than $1 of gross purchases in financial markets.
  • tr
    tom r.
    11 July 2020 @ 00:16
    Finally a guy who gets it. Like Bill Gunderson the super bull on Seeking Alpha, these guys are way ahead of the crowd. Hedgeye is positive we won't have a V shaped recovery. Wow, how wrong can you be. The easiest thing there is, is a whoosi. Get in there and invest in the best. Like the guy asked, "What will happen when this is over?" Simple, the winners will win again. Never bet against America! Trump will likely go down in history as our greatest president. If you don't think so, go to one of his rallies. The mainstream knows nothing.
  • JE
    J E.
    9 July 2020 @ 21:59
    I like the contrarian message, but he's also defensive... who are you trying to convince? Also, always being in or out or having been in or out of the market at just the right times - easy to say with zero accountability...
  • JA
    Johnny A.
    9 July 2020 @ 03:01
    this guy fucks. this guy has a dick. Not sure if Bear Vision can handle this much nut in one sack. SPY 5000 & 50% unemployment incoming. The bifurcation has begun. buy now cause I ain't sponsoring no one when the real hunger games are on prime nightly.
  • MI
    Miloslav I.
    6 July 2020 @ 23:27
    I am kinda skeptical. RV should really ask pple like this before they start their bullish monologue how they performed in February. "What was your P/L back then?" "How did you risk manage your portfolio if at all when the market started breaking..." If he risk managed top and bottom, big props to him! otherwise its just waste of everyones time to listen to it...
    • HM
      Henley M.
      7 July 2020 @ 21:14
      Miloslav, you must have missed where Mark said he was in 100% cash during much of the correction. I closely follow the style of investing that Mark uses, and the signal to go to 100% cash was given on February 25. I can promise you that Mark would have gone heavily into cash right around that date. I also would guess that Mark started really adding risk back on sometime around April 2nd, or the following week when the Nasdaq confirmed a new uptrend. I guarantee you that Mark would be willing to go back into 100% cash next week if that’s what the market was telling him. Guaranteed. Yeah it seems that some watching this video believe that he would ride the market all the way back down to the lows. I think you really missed the point
  • HM
    Henley M.
    7 July 2020 @ 21:08
    This was a FANTASTIC interview as all Mark Ritchie interviews have been. 100% believe that his method is the best long term way of making money in markets. Thanks RV, please continue having Mark on.
  • JO
    Jennifer O.
    7 July 2020 @ 05:12
    Great interview. Thank you RV team. Food for though; wouldn’t everyone change their extreme bullish opinion once the market starts to crash? Isn’t the large number of (very / extremely) bullish professionals such as Mark who can’t see where money can go other than equities, an indicator of exuberance?
  • JG
    James G.
    6 July 2020 @ 17:08
    Any kid that proclaims his experience is 2008/09 forward is still wet behind the ears and makes me discount their advice.
  • RD
    Riki D.
    6 July 2020 @ 01:22
    Where will people put their money? Stocks + Gold equities. Yield for stocks (biotech, health tech, digital) and gold equities (strong cash position and balance sheets) but also real interest rates will remain low for years + inflationary pressure building over the next few years.
  • TM
    Tyler M.
    2 July 2020 @ 00:51
    Okay, definitely good to hear the counterargument. Much appreciated. But I really can't get on board with his logic. The probably with trading the trend (which is basically what he's saying) is that (a) this market is as choppy as it gets, and (b) even if you think the trend is up, can you really jump in time and preserve your gains? It's like the guys that just say "buy low, sell high. It's easy." Um, no, it's not. The Fed has distorted typical market signals. I think this guy misses the bigger picture. The world is at a major inflection point. Also, if the market is so good at sniffing issues out--what the heck happened in February? ? It was obvious to me that the US was going to get hit hard, so I went to cash and missed the bulk of the drop. I didn't come to that conclusion by following the price action. I came to that conclusion by zooming out and seeing the macro picture. I wouldn't trust Mark with my money.
    • DG
      Dave G.
      5 July 2020 @ 13:15
      But you have to remember Mark is a trader, not an investor. He follows momentum. When we have those big down days he's getting stopped out, so the massive chop we are seeing is very detrimental. I'm sorry but Mark makes it sound like he is in a small group that are bullish but from what I see there are far more people in this camp and demographic then he thinks. If you are just going by the twitter vibe I can understand what he's saying about the negativity. As far as the robinhood traders is this not what we seen at the top in 2000? Having the fed put makes everyone think this is so easy. We truly live in interesting times.
  • DG
    Dave G.
    5 July 2020 @ 12:21
    So we had a 3 week bear market after a 12 year expansion, amazing. Blows my coconut.
  • WW
    Woody W.
    5 July 2020 @ 12:20
    Mark Ritchie II, How does the Once-in-a - Century flood in China impact on the American manufacturing in China? As half of the country is in serious flood, American factories such as Tesla are in those flooded reigions. How will this impact the U.S stock market?
  • MT
    Mark T.
    5 July 2020 @ 07:17
    Thanks Ed. One of the best videos on the platform I have seen thus far. Watched it twice. Trading what is in front of you and the importance of risk management are key takeaways.
  • BD
    Brent D.
    4 July 2020 @ 10:17
    The market forest may be shrinking around the edges due to external factors, but within there are some great redwoods (like, digital economy equities) regenerating in the harsh conditions.
  • CS
    Charles S.
    4 July 2020 @ 06:54
    Worth 10x the utility of the typical macro "thesis"
  • JF
    Jennifer F.
    4 July 2020 @ 01:14
    Good Food for thought. I was scared to stay in the market. And thought to buy after the shit had settled. Thanks.
  • TS
    Thomas S.
    3 July 2020 @ 22:46
    Thoroughly enjoyed the discussion. Lots of food for thought. Obviously, Mark is a professional investor and way more sophisticated in analysis and execution. To me, a lot of his was about trading versus long-term investing. As such, his positions can be fluid and could be different by the time I finish typing my comment.
  • RY
    Roy Y.
    3 July 2020 @ 09:51
    Always enjoy Mark ... 'Fighting the tape is an open invitation to disaster.' Martin Zweig,
  • DS
    David S.
    1 July 2020 @ 22:11
    Thanks again for the presentation. I already trade around gold as I think it will continue to have value. You have convinced me to size into several stock positions that I think will be solid regardless of what happens. I will try to trade around them as well. (I do not spend a lot of time in the market.) If I make money, I will credit you. If I lose money, I will blame myself. Thanks for your optimism. It takes a lot to move an old bear. DLS
    • DS
      David S.
      3 July 2020 @ 07:11
      I placed several longer-term bets. The market may tank on Monday. DLS
  • SS
    Steven S.
    3 July 2020 @ 07:07
    Great discussion. Quick correction (I think you misspoke, Ed): Fauci said new infections could go to 100,000/day not 1M/day. Which, as you remark, is approximately double the current rate. That said, the virus isn't going anywhere and we have a long way to go. I think Fauci was being conservative. It'll likely go through at least 1/4 - 1/3 of the US population, unfortunately. Bullish indicators or not, SARS-COV-2 will have a profound impact on the economy and I can't see equities not reflecting that at some point, Fed intervention or not. Eventually, there's no free lunch. Even with USD demand, extreme debasement of the currency will eventually cause economic havoc. Just a matter of timing.
  • SG
    Stuart G.
    2 July 2020 @ 23:30
    Great interview. Enjoyed the comments about Yahoo and I lived through the dot.com era in disbelief. Proof that skilled chartists who are nimble and/or properly hedged can do well in a market that may not make macro sense. If the momentum stops, they know when to sell. Mom and Pop and Robin Hoodies may not as fortunate.
  • DT
    David T.
    2 July 2020 @ 22:51
    This is trader vs investor debate. Mark is a trader, he looks at charts and tries to determine momentum. Investors look at macro and try to determine longer view of the market. in a long view Mark can be wrong but, on daily basis he has positive trades till there are no trades he likes.
  • pg
    pierre g.
    2 July 2020 @ 03:03
    How can this smug numerologist talk about "price action" as a guiding signal about what's happening in the real economy when the Fed is pumping trillions in liquidity into financial markets? He "doesn't know" anyone in professional financial markets that trades on Fed policy? That's why there was all time record debt issuance after the Fed announced it's alphabet soup of programs. I think he's being honest, he doesn't know any professionals in finance. A simple googling yields this: RTM CAPITAL ADVISORS LLC is a state registered investment adviser and is not registered with the SEC. As of the firm's last SEC filing on March 27, 2019, the firm has 3 employees and has $802 Thousand in Regulatory Assets Under Management (RAUM). Why am I paying to listen to this literal nobody?
    • pg
      pierre g.
      2 July 2020 @ 03:04
      His boss is his daddy, Mark the First. Is this the standard of RV now? The push for multiple videos a day has led to a rapid degradation in content quality.
    • mr
      martyn r.
      2 July 2020 @ 05:40
      you come across as a bit of an ass, watch his video in March and maybe learn something
    • JN
      John N.
      2 July 2020 @ 06:16
      that was harsh. its good to get different vantage points. the thing is that this has been the winning approach to the markets for a while now. i get what your are saying about the markets calling what is going to happen in the economy. that is not what is going on. it is just asset inflation. the economy is in for a long slog. but that doesnt make his attitude a wrong one to have. hes was mostly just saying the technicals are bullish. the idea that the stock market has some magical view into a very unlikely great economic future is it. but doesnt change this is the way of thinking that is making money in the markets. and I heard a saying on here somewhere about it being ok to mention what you dont like about the guests but its not ok to talk about the guests personally which seems fair to me. your point would come across better if it came from a better place.
    • AB
      Alastair B.
      2 July 2020 @ 06:25
      Manners maketh man
    • MC
      Mario C.
      2 July 2020 @ 06:35
      If you are critical, try to be polite, rational instead of rude and emotional. You only partially looked for data about his fund it seems: from the public data I cound find, his performance is good
    • MR
      Mark R. | Contributor
      2 July 2020 @ 12:32
      Thanks for the ad hominem attack(s). Just to clarify a few things. I am a trader which means that I've made 100% of my living from trading markets and have done so over the last decade so I have to be nimble and flexible at times. I have traded my own personal account and a small private pool for over a decade, happy to send you those audited returns as they are nothing to sneeze at. The RIA advisory you speak of was simply a separate business I started as a call option on my trading, we also started a CTA as well. The one comment you made that was correct was the RIA never really had a lot of the interest while the CTA did, so we shut down the one to focus more on the other. No big deal as I don't make my living and never intended to from the RIA biz. If you'd like to see our performance track record for the CTA or pool email us at rtmca.com, both records are good, but my gut says you won't care. Lastly my father has pretty much been retired for over two decades and I don't work for him, although I do manage some of his money. He is on our board but doesn't make investment decisions. In regards to any exposure I've had or anything you've read or seen about me it has never been a case of me self promoting. RV reached out to me to come on recently, the author of 'Momentum Masters' asked me to be featured in his book etc. Happy trading/investing and as I said if I'm wrong on the markets (what I'd rather be talking about) then I use good risk management.
    • DW
      Daniel W.
      2 July 2020 @ 14:05
      Great insight and even better response, Mark! Good work!
    • AP
      Adam P.
      2 July 2020 @ 15:11
      Pierre, did this guy bang your mom or something?
    • JC
      Joe C.
      2 July 2020 @ 22:37
      Love this hateful, angry comment and hope there are more who agree with you. We need people trading on emotion to fuel the pain trade.
  • JC
    Joe C.
    2 July 2020 @ 22:32
    Mark is the man. I really enjoyed his appearance on Real Vision years ago and learned a ton just from listening to his style. Please have him back on the next time he's BEARISH so people can see the difference between the dumb permabullishness we see on TV and the flexible, tactical bullishness he's talking about here. I came to this same realization a few weeks ago (probably a lot slower than he did) that just because this market "should" go down doesn't mean it will. We need to deal in what is, not what we want it to be.
  • SL
    Stephen L.
    2 July 2020 @ 20:25
    Great interview!
  • YB
    Yuriy B.
    2 July 2020 @ 19:46
    This is maybe the most useful interview I've heard on RV in 2020.
  • JW
    J W.
    2 July 2020 @ 17:44
    I wish I had not listened to this excellent interview :-) I have this strange debate going on with myself now. On the one hand there is the logic of the bull, and on he other the fear of the bear. I am afraid of this market top. Top valuations, top everything. Sure, I could buy 2 shares of Amazon with a long time horizon. But I can do that later in the as well, allowing me to see whether the economic indicators outlined in Raoul's latest In Focus report come to pass. Add to that the incredible bearish scenarios painted by the Fed and CV19's resurgence in many parts and you have a recipe for another dip. Anyone a TinTin fan? This is me: https://tinyurl.com/yc48a3tu THANKS MARK !! :-)
  • MS
    Michael S.
    2 July 2020 @ 17:43
    So many conflicting messages. Thanks for sharing your insight into variables looked at for determining direction of markets. Digital theme has been accelerated for sure. Capital will be flowing there more aggressively from a cap ex point of view. However, at some point what does one pay for participation in the equity of a company. Zoom trading at over 90 time revenue. Microsoft can turn on the capital outlay on Teams to match any penetration attempt by Zoom. Risk management must look at this to evaluate what an asset can return in the future. Or are you saying you don’t care about this? As long as someone is willing to buy my holding for a higher price then that is the determinative factor. Really enjoyed your insights. Been an investor since 1984. Been through a lot of difference cycles. With the Sovereign liquidity pledge and fiscal income support financial assets seem like they will never go down until the Sovereigns decide not to or cannot continue. Long live the King
  • PR
    Prashanth R.
    2 July 2020 @ 17:29
    This is a fantastic interview and probably one of the most actionable ones I have heard on RV.
  • ar
    andrew r.
    2 July 2020 @ 15:45
    Great piece, Mark is a terrific guest. Question for Mark: when you were in cash earlier in the year, what indicator(s) got you out? Both the bears and bulls on this channel are oftentimes so compelling, it's tough to know who to lean toward!
  • HK
    H K.
    2 July 2020 @ 15:09
    Missed this one when it came out, great conversation. Good coverage of areas including market breadth, winners outperforming laggards going fwd, positioning among insti etc. Fail to understand the bile in some of the comments below. Several professional money managers may change their mind on direction and risk in the blink of an eye --- what's the point of sweating over it whether their views are congruent with yours or not. Should just use it as another input /sounding board
  • SA
    Sourabh A.
    2 July 2020 @ 14:58
    Very good interview , some real brain food . Thanks !
  • TJ
    Terry J.
    2 July 2020 @ 14:19
    As so many others have commented, I really enjoyed listening to Mark and Ed. As so often with RV videos, I learnt something new. Mark is undoubtedly a shrewd trader and I loved hearing him quote Jesse Livermore, so he has obviously studied and probably learnt much of his trading skills from analysing how the legendary guys made sure they won most of the time. Don't fight the Fed another classic of course that we ignore at our peril as the current rally which has wrong footed most investors is proving. Mark's views are a breath of fresh air amidst all the gloom and doom. Thank you Ed and RV.
  • AS
    Ash S.
    2 July 2020 @ 14:15
    Great conversation with some very interesting points!
  • Nv
    Nick v.
    2 July 2020 @ 13:28
    Great interview, well done Complexity theory disagrees on market as a discounting mechanism, though. Those days are over. Passive, ETF, SWF are too large a % of trade, and momentum has reduced participant diversity
  • OM
    Owen M.
    2 July 2020 @ 13:15
    one of my top 10 interviews in the past RV 6 mos. thank you all for bringing on MR2 and please bring on more pure momo traders like him and Tony Greer. There are many ways to make money in markets and this is certainly one of them.
  • RC
    RUBEN C.
    2 July 2020 @ 12:38
    Thanks for making possible such an amazing interview. The questions were fantastic, and the well explained views of Mark Ritchie II are blessing to develop the ability to think for ourselves
  • DR
    David R.
    2 July 2020 @ 12:30
    Great content. Similar views to Dan Tapiero.
  • PP
    Patrick P.
    2 July 2020 @ 12:11
    I've been in the Ritchie camp since the bottom ... (I don't think you can fight the Fed) ... at least early on. My one major concern is the election. So set your stops now.... the market is forward looking..don't wait until October. IMO
  • SM
    Shantanu M.
    1 July 2020 @ 22:11
    While I liked this video a lot (confirmation bias helps that, coz I am bullish equities) but I would have loved this video even more in May. RV seems far too bearish even though 75% of the time that bearish view turns out to be wrong.
    • MW
      Max W. | Real Vision
      1 July 2020 @ 22:30
      We brought Mark on in March and he was bullish and he was ridiculed in the comments: https://www.realvision.com/shows/live/videos/breaking-down-the-meltdown-live-with-mark-ritchie-ii-and-thomas-thornton We brought him back in April and although the piece was more about how he uses RV he did express similar sentiment about his general bull bias: https://www.realvision.com/shows/live/videos/real-vision-a-guide-to-investing-live-with-mark-ritchie-ii Although I agree that RV needs to actively seek out bullish/bearish opinions at all moments in time, the audience and their desires drive our content as much as our editorial judgement.
    • GP
      Geoff P.
      2 July 2020 @ 11:23
      "the audience and their desires drive our content" ouch... placating the angry mob with confirmation bias doesn't sound like a good idea to me.
  • ES
    Edward S.
    1 July 2020 @ 20:56
    Great insights and a rational, sensible approach. Thanks a lot for alllowing Essential members like myself to watch this; much appreciated.
    • df
      diamantino f.
      2 July 2020 @ 10:14
      Ewe esse emerr debed
  • TE
    Tito E.
    2 July 2020 @ 09:09
    Need a surfer analyse confluence of sea bed, currents and wind forming the shapes his experience tells him are right? Nope. He sees a wave, commits to the wave, gets the ride.
  • JK
    Johan K.
    2 July 2020 @ 09:02
    Most level-headed bullish case I've come across so far.
  • JN
    John N.
    2 July 2020 @ 05:56
    great interview. a real traders mentality. so hard to train yourself to not think you know better then the markets do. the nasdaq has not been subtle about the direction it wants to go. im sure there is a nasty pull back coming in the not to distant future though. quarterly readjustments from institutions, the election and potential end to corporate tax cuts and the surge in covid cases. but then the fed will inflate the stock market some more. there is only one country that can steal capital form the rest of the world and inject it into its financial markets. the fed prints the global currency devalues the whole worlds wealth and gives it the american institutions and lately everyone in the country is getting a piece. until that is no longer the case or the fed stops wanting to inflate financial markets stocks will continue to trade higher.
    • JE
      Jonathan E.
      2 July 2020 @ 08:06
      Indeed thats the milkshake theory is it not?
  • AW
    Abigail W.
    2 July 2020 @ 07:38
    Thanks Ritchie for showing the thinking process of a technical trader. The market is driven by liquidity to trade it, the macro/fundamental part of the brain need to be shut down. It's great time to learn being flexible. Love to see Ritchie on RV more often.
  • TH
    Tal H.
    2 July 2020 @ 07:14
    You had me at Breadth.
  • PB
    Pieter B.
    2 July 2020 @ 06:55
    Definitely one of my favorite interviews so far this year! Mark you are doing a fantastic job telling the RV audience what you have to do to make money: ride winners (leading stocks), cut losses (go into cash), use stops, take small bets, stash that news flash in the trash etc. “Funnymentals” are what they are;) And thanks to Ed for having Mark on the show again - great work!
  • MC
    Mario C.
    2 July 2020 @ 06:09
    - I love MR II; he genuinely seems a good sensible no BS guy - I love his trading / risk management focus approach. Being the son of legend Market Wizard MR, no surprise. Btw I think RV best/most useful video is MR II interviewing MR: in it you have the best simple piece of trading advice (strongly recommend to watch for those who have missed it). - RV doesn't do it; but to put facts in perspective to his talk, I looked out for information regarding performance of his fund. I could only find the data from the URL below (not sure if accurate or representative, and maybe only one of the funds he manages as AuM is tiny). https://www.autumngold.com/members/cta_profile_new.php?id=115102. Fund Inception: Sep 2017 Annual CROR: 7.62 % Worst DD: -9.31% Sharpe Ratio: 0.68 Risk is definitely well managed (Feb20: -4.4%, Mar20: -2.3%) only. Performance seems well below SPX, but with a Sharpe Ratio in line with historical US Equity. Would be great if Realvision could generally provide ref to the data/credential of interviews if/when they agree to provide, or when the data is public. Anyway, it confirms my view Mark Ritchie is good. Always useful to listen to him.
    • MC
      Mario C.
      2 July 2020 @ 06:23
      Question to Mark. I adhere and try to follow same ideas/approach as you. The difficulty in a market like June was the whipsawing; specially the day SPX did -5.8%. However bullish you can be (and I agree with you), you must follow the tape and reduce risk in such an event. You seem to have low DD due to tight risk management. So I guess this kind of moves hurt you as well? Taking into account your extra bullish view, what do you/have you done: you partially stopped lossed? or increased your beta by buying these violent short lived down moves? What can you say about how to minimize the whipsawing?
  • JD
    Jesse D.
    2 July 2020 @ 03:00
    His theory on low GDP is good for the market neglects any inflation. If inflation in 2% and gdp is 1.5% I don’t think the market will like that. He’s referring to “Goldilocks” but neglecting stagflation. Not my call but a possibility to consider.
  • RG
    Rob G.
    2 July 2020 @ 02:57
    Excellent Interview. Price action with prudent risk management is key.
  • JA
    John A.
    2 July 2020 @ 00:06
    In the same argument, he talks about people being afraid to get back into the market and the money sitting on the sidelines, and in the next breath comments that only institutions move markets and the retail buying is an insignificant part of the order flow. So, either institutional buying has moved this market up and there isn't smart money sitting on the sidelines scared, or retail has driven this market up while institutions have been all too happy to ride the wave while waiting to see what happens. But you can't talk about scared money not jumping into this market in the same breath that you discount the retail effect which is typical of all late-stage bull markets prior to the rug pull. I don't see how you are trading this market under these conditions and NOT considering the Retail euphoria effect as having an impact - if for no other reason then because the street is all too happy to sell it to them while they can. The argument boils down to technical trading and not fighting the Fed. I respect his opinion because he for sure is a better trader than me and his thesis is winning right now, but he hasn't changed my mind on anything. I'm still waiting for one fundamental reason why the debt bubble isn't going to burst and chop the head off of anyone caught long. I don't know how to time that, and the risk/reward is still far too out of wack to be worth jumping into a position I don't know how to get out of.
    • pg
      pierre g.
      2 July 2020 @ 02:54
      This guy doesn't subscribe to logic, clearly. He believes in slogans.
  • pg
    pierre g.
    2 July 2020 @ 02:48
    It's an interesting comment on the strange/deranged times we inhabit when the guest says "the government sent me the message that they'll turn the USD into toilet paper before letting the stock market fall." completely flippantly, and then proceeds to brag about his participation in the bonfire.
    • pg
      pierre g.
      2 July 2020 @ 02:51
      Oh even better: "Don't look at news or any information, focus only on the computer screen or you'll lose focus." I would feel extremely uncomfortable if a man like this had my money.
  • PB
    Paolo B.
    2 July 2020 @ 02:25
    This interview was great! Too often we look for charts and data to validate our assumptions. I went back into stocks at the beginning of April and also own several gold stocks. I am thinking they may both go up! No one can predict the future, there are just too many moving and changing variables at the same time.
  • GB
    Griffin B.
    2 July 2020 @ 00:59
    1M cases per day! Lol, jk Ed
    • EH
      Edward H. | Real Vision
      2 July 2020 @ 02:16
      Just off by an order of 10x!! You know what I meant though
  • mr
    martyn r.
    2 July 2020 @ 01:36
    when 2 hours in equities gives you 1 years yield on fixed, it's time to trade momentum
  • Jv
    Juri v.
    2 July 2020 @ 01:00
    What a gem, trading and risk management 101 update, highly needed in these turbulent and noisy times, even for real vision pros. Thanks a lot Mark for sharing valuable insides and Ed, you are the best anyway!!
  • PM
    Ps M.
    2 July 2020 @ 00:19
    I am bear, and i position my trades as per macros. but i loved this one. Nice one thanks.
  • DM
    Dom M.
    1 July 2020 @ 21:25
    3rd quarter markets will rollover lead by dowjones then he will be correct.
    • PB
      Paul B.
      1 July 2020 @ 23:40
  • PB
    Paul B.
    1 July 2020 @ 23:32
    Head down in the Tracks with Richie will work right up to October, that's when you are going to look up and see the Train
  • BS
    Bevyn S.
    1 July 2020 @ 23:26
    Love it. Thanks for bringing Mark in Ed... Pretty awesome you get to drink beer while on the job. Cheers 🍻
  • PB
    Paul B.
    1 July 2020 @ 23:07
    Audio Modulation too low
  • RA
    Robert A.
    1 July 2020 @ 22:56
    Great job Max as we watch the RV team juggle multiple tasks in real time. I’m reminded of a comment a long time employee made to a gathering about what she learned about one of my company’s ethos—-on day one she was told “no job too small and no job too large”. I bet many, if not all, of the RV team feel the same way as you all pitch in when your needed and are allowed to grow as far as your talents will take you...sometimes more quickly than you could imagine. I have really enjoyed watching and participating when I have been able to in this whole RV project. Oh, and BTW one of my favorite Crypto Gathering presentation round tables was the “WTF” segment.
  • KR
    Kevin R.
    1 July 2020 @ 22:08
    It's just like the frenzy just before the crash in the 1930's, what out the next crash is coming.
  • JA
    Jose A.
    1 July 2020 @ 21:58
    Great interview. I like seeing views on both sides of the argument. The more contrarians the better.
  • mL
    miya L.
    1 July 2020 @ 21:44
    Mark do you not know about Robinhood selling their order books to institutional investors to front run the momentum?
  • DS
    David S.
    1 July 2020 @ 21:34
    I enjoyed the interview and how Mr. Ritchie trades the market. I know that I do not have the intelligence or the nerve to be an active trader at my age. I preferred Mr. Ritchie's comments on simply trading the market momentum that you see if front of you. For me the market is up because of massive amounts of money flowing into it. Massive amounts of money are also on the sidelines that did not flow into stocks on the same day. The stock market averages are just the sum of thousands of humans, computers and machines voting with skin in the game. The stock market is no better than the guts of a slaughtered pigeon at predicting future stock values during a pandemic - it is just money flows. Human beings, especially if they bet correctly, love to add a narrative. Do not fight the Fed has certainly played out well this time, so far. DLS
  • AP
    Adam P.
    1 July 2020 @ 20:38
    Mark, that's some of the best advice I've heard in awhile: "just remove those indexes from your screen". It's tough for me to buy into a broad-based bull market (esp with a VIX ~30 thru February '21), but I certainly agree there will be slices that can do exceedingly well. The working from home theme, singles iCreepin' via Match.com, your point on AMZN... all viable. Nice job! Thanks for sharing.
  • SS
    Sheldon S.
    1 July 2020 @ 19:48
    Thank you for making Mark available to all membership levels. I enjoyed his thoughts. It's nice to hear someone who is bullish for a change. I wish I could afford more than the basic membership. Sheldon S