A Simple Take on the Nasdaq

Write long enough, I suppose, and every author eventually gets asked, "So, when is your book coming out?" I've gotten that question quite a few times recently, and I'm flattered.

That said, there'll be no book from me anytime soon. My reasons?

With this daily column and the nightly newsletter, I get my fill of writing, so taking on yet another assignment is less than exciting.

In order to entice me, I'd have to be offered a fair amount of money. But that doesn't happen unless your name is Hillary or maybe John Grisham.

There is an eerie, inverse correlation between the introduction of a trader's book and said trader's success. That is, as soon as the book comes out, the trader is pretty much finished.

For all of those reasons, then, the time for "written by GBS" just isn't right. Maybe when I'm about to retire. Or when I'm so well known that I'm not confused with the other Gary Smith, who ironically has written a book on trading!

Today, the Nasdaq, NovaStar Financial (NFI - commentary - Cramer's Take), SafeNet (SFNT - commentary - Cramer's Take), Sprint PCS (PCS - commentary - Cramer's Take), Hovnanian (HOV - commentary - Cramer's Take) and Click2learn (CLKS - commentary - Cramer's Take).

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Charts produced by TC2000, which is a registered trademark of Worden Brothers Inc.

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And that is the final word from the Caribbean, where I have to admit I'm a fan of Johnny Depp -- an underrated actor with a very solid body of work.

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Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and produces a daily premium product for TheStreet.com called The Chartman's Top Stocks. While he cannot provide investment advice or recommendations, he invites you to send your feedback to Gary B. Smith.