Insights
Research and process notes for disciplined traders
Articles on earnings risk, industry structure, and the ImGeld research framework — written for traders who want process over narrative.
How Many Stocks Should I Own in a Portfolio?
There's no universal magic number. Learn how diversification research, position-size limits, and the Market → Industry → Stock framework combine to answer how many stocks you should hold.
What Is Earnings Risk? A Trader's Guide
Earnings risk is the added uncertainty a stock carries into its earnings report, and it can override even a strong industry setup. Here's how disciplined equity traders size it up before it hits.
How Often Should I Rebalance an Equity Portfolio?
A practical breakdown of calendar versus threshold rebalancing, what institutional research shows about optimal frequency, and how rebalancing fits into a disciplined equity portfolio process.
The Psychology of Letting Winners Run
Why traders instinctively sell winners early and hold losers too long, and how systematic exit rules override the bias that erodes returns.
What Makes a Good Short Candidate?
A good short candidate combines industry weakness, deteriorating fundamentals, and a confirmed technical breakdown. Here is the framework traders use before shorting a stock, and the risks that can turn a short thesis into a costly mistake.
Industry Strength Explained: Beats Price Momentum
Industry strength explained: why measuring relative performance at the industry level identifies leadership earlier and more reliably than simple stock price momentum.
Why Do Stocks Move Together? Correlation, Regimes and Industry Clusters
Explains why stocks move together through shared systematic risk, industry membership, and shifting market regimes — and why that makes industry context essential before picking any stock.
What Is Sector Rotation? A Trader's Guide
A clear explanation of what sector rotation is, why leadership shifts across the business cycle, and how equity traders use it to position ahead of market moves.
What Makes a Good Long Candidate?
What makes a good long candidate starts with industry strength, not stock-picking. A look at the filters ImGeld's Market → Industry → Stock process applies before fundamentals or entry timing.
What Is Market Breadth? A Trader's Guide
Market breadth measures how many stocks are actually participating in a market move. Here's what it is, how to read it, and why it matters more than the index level alone.
Volatility Trading Psychology: A Trader's Edge
Volatility trading psychology explains why traders react emotionally to price swings and how reframing volatility as information, not threat, builds lasting discipline.
Sector Rotation Mistakes: Chasing, Overweighting, Freezing
The three behavioral traps that undermine sector rotation strategies, chasing recent winners, overweighting them, and freezing during whipsaws, and how a disciplined process avoids each one.
Trading Process Over Outcome: Judging Your Month
Why judging a trading month by P&L alone misleads active traders, and how a process-based scorecard reveals whether your edge is actually working.
Trading Psychology 2026: Why Process Wins
Most trading losses trace back to behavior, not strategy. Here's how a rules-based Market → Industry → Stock process removes the emotional decision points that quietly erode trader performance in 2026.
How to Build Self-Trust as a Trader Using a Repeatable Framework
A trading mindset framework turns discipline into a repeatable process, helping traders build self-trust instead of relying on willpower or mood.
Trading Journal Best Practices for Traders
Trading journal best practices built around industry and market context, not just entries and exits, turn a trade log into a repeatable, portfolio-manager-style review process.
Risk Management Trading 2026: Drawdown Tolerance
How risk acceptance and drawdown tolerance shape position sizing in long/short equity trading, and why defining loss limits before entry protects capital.
Trading Psychology Position Sizing Discipline
Position sizing is where trading psychology becomes visible. This guide explains why fixed-risk rules, not willpower, keep traders disciplined when pressure builds.
Long-Term Investing in Volatile Markets
Volatility is normal, not a warning sign. This guide explains why long-term investing in volatile markets works best when paired with industry-level analysis, not panic selling or blind stock picking.
Trading Discipline in Volatile Markets: A 2026 Playbook
A practical framework for staying disciplined when volatility spikes and sectors rotate fast, built around process over prediction and industry context over stock-level guessing.
Portfolio Construction Mistakes Traders Make
Adding more positions doesn't guarantee diversification. Learn the portfolio construction mistakes that quietly concentrate risk, and how industry context helps traders avoid them.
AI Investing Tools: Use Them Without Losing Focus
AI investing tools can speed up research and portfolio review, but they can't judge industry strength. Here's how to use them without losing the framework that actually drives decisions.
Avoiding FOMO Investing in the 2026 Tech Rally
A practical guide to avoiding FOMO investing during the 2026 AI rally, using market breadth and industry strength to separate genuine opportunity from concentrated, fragile market leadership.
Regime-Based Trading Strategy: A 2026 Process Guide
A practical guide to building a regime-based trading strategy: how to classify trend and volatility conditions and match your tactics to the market you're actually in.
Stop Day Trading: Focus on Investing Instead
Data on why most day traders lose money, and how shifting from day trading to a structured Market → Industry → Stock approach improves long-term investing results.
Sector Rotation Trading Discipline in 2026
A practical guide to sector rotation trading discipline in 2026, covering how to read industry leadership changes without chasing performance or reacting to every whipsaw.
Defensive Equity Portfolio: How to Stay Invested
How to build a defensive equity portfolio using industry strength and sector selection, so you manage downside risk without stepping out of the market into cash.
Sector Rotation Strategy 2026 Rebalancing Guide
A practical look at how equity traders can use current sector rotation data, not predictions, to guide portfolio rebalancing decisions for the second half of 2026.
Industry Based Investing Strategy: Build Edges
A practical guide to using an industry based investing strategy: rank sector strength first, size positions around conviction, and rotate with discipline instead of chasing individual stocks.
Portfolio Stress Testing Across Market Regimes
How to stress test a portfolio across calm, volatile, and transitional market regimes, and why testing at the industry level catches risks that portfolio-wide models miss.
How to Allocate Between Canada and US Equities
A practical framework for deciding how to allocate between Canada and US equities in 2026, based on sector concentration, market structure, and diversification, not home bias alone.
Portfolio Rebalancing Strategy for L/S Books
A portfolio rebalancing strategy for long/short equity books means resetting net exposure and industry weights, not just position sizes, back to what the thesis actually calls for.
Global Diversification for Canadian Investors
A practical look at why Canadian equity investors carry outsized home-country and sector concentration risk, and how the Market → Industry → Stock framework applies across borders, not just within the TSX.
Portfolio Risk Management 2026: Risk Budgeting
A practical framework for portfolio risk management in 2026: how budgeting risk by industry before picking stocks keeps exposure sized to what the market will actually support.
Long/Short Equity Strategy: Sizing Risk Right
A practical framework for building a long/short equity book: how gross exposure, net exposure, and short-side mechanics determine whether risk is controlled before the first trade is placed.
Equity Dispersion 2026: What Indexes Hide
Index-level calm in 2026 is masking a sharp rise in equity dispersion. Here's what that means for how traders should read the market.
Turning Stock Ideas Into a Real Portfolio
A watchlist of good ideas isn't a portfolio. Learn how position sizing, correlation, and industry balance turn scattered stock picks into a coherent book.
Concentration Risk in Tech-Heavy Portfolios
How concentration risk builds inside tech-heavy portfolios, why index exposure hides it, and a practical framework equity traders can use to measure and manage it.
Market Breadth and Volatility 2026 Explained
Market breadth and volatility in 2026 tell two different stories than the S&P 500's price alone. Here's what narrowing participation and a quiet VIX actually signal for traders.
Position Sizing Strategy: Protect Your Portfolio
A rules-based position sizing strategy for equity traders — how much to risk per trade, how to size to volatility instead of conviction, and how to avoid concentration risk.
Canada vs US Stocks: Who Leads Industries in 2026
Canada vs US stocks in 2026 comes down to industry composition, not country loyalty. Here's how to compare sector leadership across both markets.
Stock Market Volatility 2026: Friend or Foe?
Stock market volatility in 2026 isn't inherently good or bad. Whether it helps or hurts depends on industry strength and fundamentals, not the VIX headline number.
Cyclical Stocks 2026: Energy to Defense Rotation
Cyclical stocks 2026 are led by energy, industrials, and defense. This article explains the industry rotation and the timeless principle behind chasing sector strength.
Global Stock Market Outlook 2026: Real Risk
A global stock market outlook 2026 analysis showing why concentration, not headlines, is the real risk investors face this year.
Value Outperforms Growth in 2026: Why It Matters
Value stocks are beating growth in 2026 as energy and financials lead while concentrated AI names cool. The real driver is sector composition, not the value/growth label itself.
VIX-RVX Spread 2026: What Compression Signals
A practical look at the VIX RVX spread in 2026: what the gap between large-cap and small-cap implied volatility normally looks like, and what shifts in that gap can tell equity traders before price action confirms a rotation.
Market Breadth Analysis 2026: Reading Leadership
Market breadth analysis 2026 shows why advance-decline data and volatility readings matter more than the headline index when judging if a rally has real participation.
Sector Rotation 2026: Reshaping US Leadership
How narrowing and widening market breadth in 2026 is reshaping US equity leadership, and why breadth signals matter more than index headlines.
Cybersecurity Is Becoming the Next Leg of the AI Trade. CIBR Is How the Market Is Expressing It.
The AI buildout has moved from compute to power to memory, and cybersecurity is emerging as the next leg. This piece examines how the market is expressing that rotation through the First Trust Nasdaq Cybersecurity ETF (CIBR).
Great Sector Rotation 2026: Silicon to Steel
The 2026 shift from mega-cap tech into industrials and materials shows why industry strength, not stock picking, drives durable returns.
Michael Burry's Semiconductor Shorts, Explained
Michael Burry's semiconductor shorts are less a signal to copy than a lesson in market structure: why concentration, breadth and position design matter more than being right about direction.
Stock Market Outlook July 2026 and Thin Breadth
Narrow breadth defines the July 2026 tape: a few mega-caps mask a weaker average stock. What thin participation and concentrated, earnings-backed leadership mean for portfolio risk and positioning.
Concentration Risk in Portfolios and the Top 10
Owning the S&P 500 is quietly a bet on a handful of mega-caps. What 70 years of data on the top 10 versus the equal-weighted 490 says about concentration risk in portfolios, and how to manage it.
How to Use Industry Heat Maps in Portfolio Construction
Industry heat maps show where leadership and laggards sit in the market. Here's a practical framework for turning that ranking into actual overweight and underweight decisions.
Energy, Industrials and Defense: The 2026 Cyclical Leadership Story
Energy and industrials are leading 2026's rotation, but defense is telling a different story. Here's what the industry-level data actually shows, and why grouping cyclicals together misses it.
Should You Hold a Stock Through Earnings?
Holding a stock through earnings means accepting real overnight gap risk. Here's what earnings release risk and post-earnings drift actually mean for how you size the position.
The AI Trade Has Split: Market Breadth, Sector Leadership and the Rotation From Hyperscalers to Enablers
The AI trade has split — enablers lead, hyperscalers lag. Beneath a narrow index, market breadth, sector leadership and relative strength are shifting. Disciplined traders read structure before committing capital.
BofA Sell Signal: Risk, Not Timing
BofA's Bull and Bear Indicator hit a sell signal at 9.1. Here is what an extreme sentiment reading actually tells traders about market risk, why it flags elevated downside odds rather than a precise top, and how to position around it.
Professional vs Retail Trading: Structure Wins
Professional trading rests on data analysis and volatility control, not prediction. Retail traders are exposed to volatility; professionals design portfolios around it. That structural difference explains most of the performance gap.
Why Disciplined Traders Avoid Holding Positions Through Earnings — And Why Knowing the Date in Advance Changes Everything
Earnings announcements are binary events. Disciplined traders avoid holding through results — structure and process beat conviction every time.