Just turned-off Bloomberg Television (the only reason for a TV in my office). When watching the stock market, I go from Bloomberg Television to the Fox Business Channel (some former Bloomberg talking heads must have received attractive offers from the Fox Business Channel) when watching the stock market. Turning-off the TV brings a wave of quiet and rest to my head. Too many opinions along with a depressed stock market paralyzes my work (months ago, the TV was turned-off because of too much stock market euphoria).

Sometimes I open Firefox to Google “stock market news”. I look for positive information. Something encouraging and hopeful to counterpoint my disappointment in recent Fed action (or inaction), the price of oil per-barrel, Michigan Consumer Sentiment Index – MCSI, and today’s Dow Jones Industrial Average slippage to a 20% bear stock market drop.

Have I found positive, happy, sanguine news? Not really. I have found hints of optimism based on specific indicators. Investor’s Business Daily (IBD) is a favorite stock market source of information. IBD tracks the EKG (stock trading patterns), relative strength, earnings-per-share, industry rank with a lot of other data.

At Investors.com, IBD offers a stock market video reviewing the previous day’s stock market close. Anyone may listen, but the video changes daily. Ken Shreve’s stock market commentary provides helpful insights that may soothe you while watching stock market trades.

You will find Mr. Shreve’s stock market perceptions helpful. I do. Look for the “Daily Stock Analysis” at Investors.com. Remember, this is Mr. Shreve’s comment for one day. To understand stock market trends, you’ll have to listen daily. Also, my mentioning this resource is not a recommendation. You may not find IBD’s comments helpful or suitable to your investment goals. At worst, you may find his commentary and charts entertaining.

Some times the stock market takes off like a rocket. Yesterday (March 18,2008) was one of those days. The Dow Jones Industrial Average closed with the 4th highest one day gain in the history of the index. I get excited when the market goes up like that. My tendency is to be optimistic, yesterday does not give me many reasons for a party.

You need a lot of people to make a stock market party. Yesterday everyone was invited, but only a few came. Stocks must move up on strong volume with confirmation over at least 6 to 10 days of market action (not necessarily in a row). Yesterday was not convincing because the trading volume was not there.

You can get a further sense of stock leaders by their trading volume too. If they show price gains without exceeding their average daily volume, you have an invitation, but not a party.

You can learn more about the market’s activity by listening to the daily audio report posted on the home page of the Investor’s Business Daily web site. You will learn some technical or chart pattern pointers, and get a sense of market direction, if this is important to you.

Most of us tolerate asset allocation portfolios better than individual stock portfolios. Knowing where the market is going gives you insight and confidence about your investments.