My latest article for TheStreet hits the homepage must read section. In it, I discuss why, before fundamentals, technicals, sentiment, chart patterns or anything else, what matters most is money supply. If the money is not there, stock prices cannot go up.

Here’s an excerpt.

Before fundamentals, technicals, interest rates, sentiment or anything else, the bottom line of why stock prices go up or down is money supply.

If money is available, one of the places it can go is the stock market. That is a necessary but not sufficient condition for the market to rise. But if not enough loose money is available, all the fundamentals and technicals in the world won’t matter. The market has to go down.

Continue reading here