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About Us

  • Our Mission
  • Dave Fry
  • Dave's Sacred Cows
  • What They're Saying About Us
  •  
    Our Mission

     

    To educate and empower individual investors and financial professionals with:

    • Experienced, honest, independent and relevant information on ETFs.
    • Strategies incorporating fundamental and technical analysis to help explain which global markets are working and why";
    • Risk protection tools and strategies for capital preservation regardless of market direction;
    • Actionable advice on global ETF investing from which to create and assemble individually customized ETFportfolios and strategies.

  •  
    Dave Fry
     
    Dave Fry is founder and publisher of ETF Digest and best selling author of Create Your Own ETF Hedge Fund, A DIY Strategy for Private Wealth Management published by Wiley Finance in 2008 and The Best ETFs: U.S. Equities, A Companion Guide to Building Your ETF Portfolio [Kindle Edition] published in 2012.
     
    1-15-2012_12-32-28_PM_dave
    Specializing as a market strategist and tactician, Fry focuses on evaluating, creating and implementing a variety of ETF portfolios for individual investors and financial professionals. His philosophy and approach incorporates fundamental with technical analysis in pursuit of risk management and capital preservation especially during uncertain and volatile times.
     
    Fry founded the ETF Digest in 2001 and was among the very first to see the need for an online publication that provided individual investors and financial professionals with trading tools, relevant market information and actionable guidance and advice on ETF investing.
     
    His popular and internationally read Dave's Daily blog provides an independent and unbiased comprehensive global market summary of technical chart analyses on market moving ETFs and stocks.  In July of 2009, Fry was named in the ETF Hall of Fame as one of the Top 25 people who revolutionized the ETF industry and guided ETF investing from its conception to widespread acceptance among all breeds of investors.
     

    Dave Fry has devoted over 40 years to the business of trading and portfolio management. He is registered as an arbitrator with the Financial Industry Regulatory Authority (FINRA) and the National Futures Association (NFA).

    Dave is a frequent commentator and presenter on ETFs and other issues important to individual investors for ETF conferences and private investment groups.  His perspectives are featured in global financial news sources, radio, webinars and print media..

    By 2002 ETF Digest trading programs were making triple-digit gains, despite the sharp Dot Com overall market decline at that time and good gains were achieve during the financial crisis of 2008.

    The ETF Digest began attracting favorable coverage in Barron’s with three positive reviews in 2002, 2004 and 2007.

    Career highlights

    In 1999, he founded TechInvest Inc. and introduced the TechTrend Advisor newsletter sharing his market investing experience on the internet.
     
    From 1997-99, he was Managing Director, Proprietary Investments, at JWH Investment Management (JWHIMI), an affiliated company of John W. Henry & Company. In that capacity, Dave was responsible for the management of private investments as well as some corporate accounts.
     
    For a period of 10 years prior to joining JWHIMI, David owned, managed and operated an NASD broker/dealer, Fry & Co.and an SEC registered investment advisory firm, Asia-Pacific Investment Management Inc.
     
    He was also a registered Commodity Pool Operator [CPO], Commodity Trading Advisor [CTA], and Introducing Broker [IB].
     
    Prior to operating his own investment firms, Dave was Vice President, Investments at Shearson Lehman Bros. and held a similar position at Paine Webber.
     
    During his tenure with registered firms he maintained the following licenses: Municipal Bond Principal  (Series 53), Options Principal (Series 4), General Securities Principal (Series 24), General Securities  (Series 7), Commodity (Series 3), State Securities License (Series 63), and State Insurance License (Life).
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

    •  
      Dave's Sacred Cows

       

      sacred__cow

       

      #1 Make every indicated trade, every time.
       

      How many times have I kicked myself because I thought I could outsmart my own system? When I first started trading, it seemed perfectly natural to do things like put off placing an order because I was waiting for current news stories to develop favorably, thinking that I, rather than some system, knew more about current market conditions. I thought it was prudent to err on the side of caution, and, in short, I was not pulling the trigger when I was supposed to. This is a recipe for certain failure for any trader. This is true whether you trade off the signals generated by The ETF Digest or by any other system. A wise trader once said, "An inferior system, consistently implemented, is superior to a great system inconsistently implemented."

       

      #2 Turn off the TV during market hours.
       
       
      Mad Money or The Money Honey may have their following, but watching financial TV is a major distraction to a systemized trader following a technical system. Most people are shocked to learn that I don't watch the market during the day unless I'm placing an order. But it's true. One needs to be disciplined and tune out distractions. I work on my system after the market closes and work my orders at the opening of the market the next day if I have a signal. If there is some market-rocking news during a particular day, someone will let me know. Then I’ll determine if it’s meaningful.  But, in all my studies, it seems to balance out that waiting until the next day is just as profitable, or more so, as acting on some intra-day news event.
       

      #3 Market sector rotation is a fact of life,
      so diversify.
       
       

      It makes sense for investors to spread their portfolio over a wide asset class. The ETF Digest offers effective trading signals on a wide variety of market sectors, and I hope that subscribers will benefit by placing themselves in the strongest sectors and out of the weakest sectors at the best time.

      A key risk-reducing strategy that will optimize overall portfolio return has been the advent of ETF's (Exchange Traded Funds). These low-expense securities allow investors broad market exposure, flexibility (including the easy ability to short), and little individual stock risk.
       

      #4 Accept your trading losses as a cost of doing
      business.
       

      I hate losing money. Everyone does. Yet, if you were operating a newsstand on a street corner, you'd lose money from time to time. It happens. Accept trading losses as a cost of doing business and move forward. It's the only path to success.

      There is no perfect trading system.
      As Ernest Hemmingway stated: “We are all apprentices in a craft where no one ever becomes a master.”

      #5 To avoid severe losses, stocks must be traded.
       
       

      A "buy and hold" approach is a prescription for ultimate failure. Even the "averaging down" principles touted by many experts have proven to be a disaster. Just ask investors involved in the 1973-75, 2000-2002 and more recent bear market how well their stocks recovered when at last bull markets resumed. Many of the hottest stocks from those markets disappeared from the scene and never returned. Bull market maxims such as "buy and hold," "invest for the long term," and "average down" are hurtful to investors. Fee-conflicted firms want investors to stay in the market for the long term so they can earn long-term fees.

      The NASDAQ, for example, peaked in 2000 at a level over 5,000 and nearly 10 years later is half that level.

       

      #6
      Have  R.E.S.P.E.C.T for the successful methods of others.
       
       

      One of my favorite people once said, "There are many ways to get to heaven." That maxim may also apply to investing or trading the markets. Warren Buffet, Peter Lynch, Bill Gross, and Barton Biggs are just a few of the more famous names on Wall Street. They each have different methods, but they do share some things in common. They are successful because they are disciplined and consistent in their methods. I respect that in them. They would not necessarily agree with my style of investing, but they would respect the discipline and the results.

       

      #7
      You don't need a PhD to make money in the
      markets, but you do need a good feel for the trigger.
       

      Years ago, when I was running my own brokerage firm, an opportunity was presented for me to hire a gentleman who possessed a PhD. He was a great guy whom I liked very much, but unfortunately, the relationship didn't work out for either of us.

      Shortly after I retained his services, I excitedly told my mentor and best client of what I thought was a hiring coup for my company. His silence let me know he wasn't impressed. About two weeks later, I received a plain manilla envelope from him containing a photocopy of an essay entitled, "From the Garden." It was written in the 1930's about the great economist, John Maynard Keynes. In London during this period a group of very smart and well-connected financiers had convinced Keynes to manage a public fund that they would market. His stellar reputation and credentials would surely bring in many clients, and high fees would flow to these organizers and Keynes. It never occurred to them that Keynes couldn't manage money. During a short period of time, the value of the assets garnered by these individuals and entrusted to Keynes dwindled away. He was quietly removed from the management of the portfolio and returned to his proper role as an economist.

      The bottom line: Keynes didn't have the stomach for trading and wasn't able to pull the trigger.


      #8 At any given time, the market can make anyone
      look like an idiot. Always.
       
       
      .
      #9 "If you have to forecast, forecast often."
      Economist Edgar R. Fiedler
       

      #10 Things Change.
       
       
       

      How does the ETF Digest determine its Market signals?

      The ETF Digest studies markets from a technical chart perspective trying to identify and invest in emerging market trends. This is done through a careful analysis of "daily", "weekly" and "monthly" charts of indexes and related ETFs or securities.

      Our focus is to identify trends that may prove long-lasting and profitable.

      Our objective is to make “two-thirds” of long-term market trends.

      Our trade methodology is as follows:

      • On the "Select ETF Main Menu" page are listed all ETFs and securities that we follow routinely and may also be included within suggested portfolios.
      • The "Method" [Trade Methodology] indicates that we analyze markets first based on [W/D] "weekly" chart technical analysis to spot emerging trends and secondarily from "daily" chart views.
      • Infrequently, we may reduce or eliminate open positions from "daily" chart analysis especially when "weekly" charts indicate serious market overbought/oversold conditions.

       

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

      •  
        What They're Saying About Us

        1-21-2015 3-19-18 PM feedback

        Bold/brilliant---while typical for you, truly unique as opposed to the lyin media/gov./  Dog 6/5/2016

        IMO BEST DAILY MKT RECAP Dec. 18, 2015 vxx46 Twitter feed

        Send Dave my best, I love his insight.  Dec. 14, 2015, D. McCarthy [Premium member since 2009]

        Good stuff.  Ugly charts. Nate Sterling, Dec. 13, 2015, Seeking Alpha

        Beautifully (sic) analytic graphs, David, but an ugly picture of our current investment environment.  As Elvis might say, "I'll have a blue, blue Christmas..." 26891391, Dec. 12, 2015 Seeking Alpha 

        Great charts and analysis David. Indeed, the news encompass all of your aforementioned definitions, in other words they are deceptive to the unsuspecting investor ("smart money" always tries to conceal it's real intentions from the general investing public; however traders know best and are always prepared by following closely all chart period trends). cfetrader 11.7.15

        Mr Fry: thanks so much for the work you do which saves me hours and hours sifting and charting data. (I generally follow a technical approach to the market) Your work allows me to quickly see trends on market/sector level. Your pithy comments also prod me to think on my own. Obviously I have to use your data and my additional analysis to make a buy or sell. A very valuable SA resource.  couldashoulda  10.29.15

        After more than 40 years in the investment advisory business, I've elected to retire ... good grief, do I have to get into gardening (?) or bird house building (?). I so much enjoyed ETF Digest (I think for 15 years or so), your daily epistles as well as your timely sense of humor. My cudos to Dave and all of yinze (that's Pittsburgh speak) at ETF Digest.  Best wishes to all.  Irv P. 9.16.2015

        I find your graphs and succinct, grounded comments to be extraordinarily useful.  A picture is worth a thousand words, but your brief words add something invaluable.  Very appreciative of your work. Cheers.               An10 June 11, 2015

        Good roundup and nice charts!   Saltyman  June 6, 2015

        Great article and as always very informative chart anaylsis.   cfetrader  June 5, 2015

        One of your greatest gifts has been the exposure of the "2:15 express" (probably the single biggest cause of the market going from 6500 to the totally absurd/corrupt levels today) Thanks. You are the only one to tell about all the deception going on.  Doug C. January 20, 2015

        Thanks for the years of providing an excellent product. I'm a big Dave Fry fan.  Neil S., January 2, 2015

        Hello, I only have time each day, or a few times a week, to read Dave's Daily and that's it (and they are excellent). Stuart W.  December 14, 2014

        "Calling the drop and the bounce on a daily basis
        * SRS and FXP -- anyone who trades intraday did well with these shorts (even me!); your calls were more valuable than a daily-set stop loss might indicate
        It's nice to have something different to watch like SRS that I might not on my own.
        Being clued in on the market commentary is a qualitative benefit for my decision making.  Not to mention a laugh or three.
        I found that your stuff helps me out with my stuff - intend to extend my free trial into a membership." Matthew H.  6/8/2013
         
        I am an investor/trader interested in improving my knowledge and ability with ETFs.   I have enjoyed the writing of Mr. Fry for sometime and wish to subscribe to his service now.   Thank you very much for all you do for the investment community!  Bill M. May 19, 2013
         
        Spot on. I've said it before (and I'm not the only one), the Fed has painted itself into a corner. If Bernanke was that clever he would have got the Dow up into the 11,000 to 12,000 area, S&P 1150 to 1250, and managed it there, instead of which he wanted a stock market return to 'normalcy', i.e. at or above the sub prime bubble area of 14,000. Fool.   David C.  May 17, 2013
         
        Great job again.  Dangerous market. Thanks again for your wisdom and clarityDoug C. April 14, 2013

        I find myself overwhelmed with the multitude of Data. I am MOST THANKFUL for you sharing Your Experience and Interpolations!!  Scooter P. February 2, 2013
         
        "Dave has great insight to the “way it is”. Not many commentators have a clue, but Dave does, whether the ridiculous monetary policies forcing a bullish outlook (this day or that), (this week or that). I have appreciated his “pithy”comments for over three years- I found him on Seeking Alpha. Thanks for your contributions and website. Keep it up!"
         
        "I love Dave's written summaries often as much as the chart analysis.The charts might be boring without the comments. The comments are what makes the chart come to life."
         
        "The short summaries without the bullshit that's often fed to us makes for a nice re-cap of current and financial events. I greatly value Dave's Daily for being a nice part of my 'wind-down' after work. I value his insight into what is influencing the market, and its effect on different sectors."
         
        "The charts & comments on them are very informative. Also I get a good laugh at his timely picture corresponding to the mood of the day."

        "Intraday Commentary & overall portfolio structure. Very much enjoy the commentaries from D.Gillies and others..."

        "Sorry - I am pretty new to this whole game, so take my comments lightly please. What is most valuable to me is Dave's open debate, i.e. where he says the upside and downside of a situation, and then makes his summary call. Too many other blogs only make a case pro or con and, unsurprisingly, those blogs tend to be viewed by readers as un-credible. Credibility and charts is why I read this digest."

        "He is among the best in the game, and just keep being Dave as true Dave....not afraid to be wrong as wrong.....He have one of the soundest head, and it is okay to be wrong, as LONG as we have gather most odd on our side....uh, Dave's side......... never have much trust in the technical chart's longevity in "correctness"......anyway ......"

        "Keep comenting (sic)on all the dirty tricks hedge funds or HFT or all the other greedy professional money managers do. I can't find where to read about this anywhere else as clear as Dave do it."

        "I value Dave's Daily for the Overview, charts and humor and his experience overall for depth of analysis. The reason tech analysis, and for that matter, fundamentals don't produce the results they used to, is because the degree of lawlessness and fraud is unprecedented. Casinos are more fairly run and better regulated with no HFT distortion. I wouldn't change Dave's Daily; you just have to acknowledge the environment we're operating in and everyone has to modify their strategies accordingly ."

        "I value Dave's personal opinion very highly. It is concise and to the point. The connection to other web pages as needed has also been very helpful."

        How does Dave's Daily and/or being a premium subscriber complement your investment objectives?
         

        "Short term view. Everything I tried with recs failed."

        "It helps me make better decisions on Sunday evening, when Asain (sic) markets open for business, as far as the upcoming week."

        "Dave is brilliant, humorous and is a teacher. I am not invested at this time because of the overt manipulation of the markets and so I have not YET availed myself of the premium services."

        "Just interesting to see his read on the markets versus my own."

        "Helps me time buy/sell decisions & I rarely invest in etf's but the charts give insights into what's happens in a different sector."

        "The daily S&P chart with Dave's cryptic comment gives me a quick overview of the day's event. This has been very valuable to me in planning my next day's activity in the market. Other charts also give me a quick review of what is going on in various sectors of the market as well as in the international markets."

        "HELPS LONG TERM"

        "Have taken similar positions when long or short has been indicated."

        "..x-check / verify Dorsey Wright P&F / Relative Strength discipline § provides a macro backdrop.  I subscribe to a couple of newsletters and keep up to date via a few blogs. Dave's Daily is one of my valued resources"

        "I greatly respect Dave and I have learned so much from him! Dave's Daily is absolutely essential reading (next to ZeroHedge). No improvement possible for someone at the top of his game. My only suggestion would be to add more content from David Gillie , who has been writing some very interesting articles as well. Merry Christmas and a Happy New Year to everyone at ETF Digest! Kind regards. ps: Dave, I know from time to time people have been giving you a hard time for staying on the sidelines and in cash. I've got the same problems with my family members who consider 'cash' a four-letter word. FOOLS!! Please ignore the noise and focus on what your experience is telling you. I can't thank you enough for sharing your thoughts with others."

        "Love the weekend videos, please do more."

        "Especially like the posting of other market experts to round out analysis of markets, charts, events."

        "I value Dave's insight on the market and his analysis of its related sectors. We (our company has $25M AUM) are active equity managers of indexed ETFs. History is history and interesting reading.
        The future is for dreamers and theorizers. As best we can, we try to focus on what's happening NOW and where's the momentum NOW. And unlike some of Dave's subscribers, if cash is where we should be NOW, then cash it is. That's prudent investment management as far as I'm concerned. So Dave can keep telling me what he sees is happening NOW and let me decide how much credence to give his observations"
         
        "Dave, keep up your brave work.  You are a light in the darkness and your clarity keeps me sane!"


         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

      ETF Digest