I just read a business book worth sharing. It is Rework, by 37 Signals partners, Jason Fried and David Heinemeier Hansson.
We started using 37signals' web-based applications: Basecamp (for project management), Campfire (for work-group chat), and Backpack (for knowledge management). These are simple, focused tools designed to help you collaborate, get organized, and to get things done.
The software is terrific, and so is the philosophy behind it. 37signals got so much positive feedback from their blog … they parlayed it into a best-selling book.
Why Is the Book Relevant?Rework is about the business, design, programming, and marketing philosophies of a developer that makes web-based software used by millions of people.
What's In It For Me?It is easy to find value, fresh perspectives, and inspiration in this practical book. At less than 300 pages, it's a quick read too. Each chapter is only a page or two, so it's a great airplane or nightstand book.
Also, they proudly present ideas in bold strokes; clearly favoring provocative over wishy-washy. For example, 37signals proclaims it builds software products with the least number of features necessary. In other words, their products intentionally do less than their competition.
Here is a Partial List of the Essays in the Book.
This list will give you a sense of the book and its tone. Click the image for a more complete list.
I don't agree with some of what they preach. Yet, it is easy to get lots of value quickly from the book. Another way I know it is good, is that it is making its way around the office; and I often hear people referencing it and referring to it. All-in-all, it is worth reading.
Here is a video of Jason Fried on Big Think.
Capitalogix Commentary for the Markets - 07/5/10
A record drop in pending home sales and a slowdown in the construction market contributed to a sluggish outlook for the economy last week, and highlighting the significance of government stimulus measures and job growth.
Market CommentaryThe Nasdaq Composite Index is showing a well-formed Head and Shoulders topping pattern. Price has broken beneath the neckline, which means it has triggered. Unless it can move back above that level, the pattern's target is the distance from the top of the head (2500) to the neckline (2100), which is 400 points lower.
Supporting the bearish case, new 52-week lows are expanding on the Nasdaq while new 52-week highs are drying up. Net New Highs (new 52-week highs less new 52-week lows) is an easy way to assess the battle for new 52-week extremes. An uptrend is unlikely as long as Net New Highs remain negative.
Technical Analysis is often easy to see after the fact. Here is a look at several Head and Shoulder top and bottom patterns. Click the image to see a bigger version.
Here's Something That Will Show-Up On Lots of Radar Screens.
On some level, Technical Analysis is a self-fulfilling prophecy because "everyone" is looking at the same thing. While lots of people are worried about the Head and Shoulders pattern, I suspect that far more are watching the "Death Cross" or "Dark Cross" that is being formed on our indices as the 50-day moving average falls below the 200-day moving average.
While I see the bearish implications, some trader's will be looking for the head-and-shoulders and death-cross patterns to fail because of a short squeeze. Failed patterns often result in bigger moves than the patterns that didn't work. Here is an explanation about why that happens.
The OOPs Trade:
When a well-known pattern fails, the response is often dynamic. This often happens with obvious, high profile situations like a "Head-and-Shoulders" pattern, a move through big Round Numbers (like Dow 10,000), crossing the 200-Day Moving Average, or violating a clear Price Channel. Just for the record, several of those are in-play at this price level.
An often violent reversal happens when the crowd realizes that it was wrong, and people rush to cover their painful losing positions. As the price of the stock increases, more short sellers feel driven to cover their positions. This is very similar to a short squeeze; and the move is often violent and prolonged.
The markets are oversold here; lots of people know that we just made new lows, and we have been bombarded with bad news recently. So, I'm not predicting that the market will reverse here. I am just suggesting that it is possible and something to watch.
Business Posts Moving the Markets that I Found Interesting This Week:
Lighter Ideas and Fun Links that I Found Interesting This Week
Posted at 11:47 PM in Current Affairs, Market Commentary, Trading | Permalink | Comments (0) | TrackBack (0)
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