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AudibleInk - Technical Analysis of Stock Trends
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List Price: $99.95
Our Price: $62.97
Your Save: $ 36.98 ( 37% )
Availability: Usually ships in 24 hours
Manufacturer: AMACOM
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FREE SHIPPING on Orders over $25!
Average Customer Rating:  
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Binding: Hardcover
Dewey Decimal Number: 332.6320420973
EAN: 9780814408643
ISBN: 0814408648
Label: AMACOM
Manufacturer: AMACOM
Number Of Items: 1
Number Of Pages: 832
Publication Date: 2007-04-11
Publisher: AMACOM
Studio: AMACOM
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Editorial Reviews:
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Technical Analysis of Stock Trends was the first book to produce a methodology for interpreting the predictable behavior of investors and markets. It revolutionized technical investment approaches and showed traders and investors how to make money regardless of what the market is doing. Now in its ninth edition, the book remains the benchmark by which all other investment methodologies are measured. An indispensable reference for technical traders, investors, and finance professionals, the ninth edition features: * Expanded treatment of Magee’s "basing points" procedure
* In-depth discussion and dissection of Dow Theory
* Extensive new material on commodity trading
* Much-needed perspective on short-term and futures trading The newest incarnation of one of the true classics of market analysis, this book will be a crucial resource for both seasoned veterans and the new generation alike.
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Spotlight customer reviews:
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Customer Rating:
Summary: this is not the latest version of the book!
Comment: I bought the book because I think it is of the latest edition (edition 9?). But obviously, it is not, although it is printed in 2008.
Amazon should specify the edition of the book!
Customer Rating:
Summary: Technical analysis is widely used among traders and financial professionals
Comment: This book is the Bible of Technical analysis.
Technical analysis is a financial markets technique that claims the ability to forecast the future direction of security prices through the study of past market data, primarily price and volume.
In its purest form, technical analysis considers only the actual price and volume behavior of the market or instrument, on the assumption that price and volume are the two most relevant factors in determining the future direction and behavior of a particular stock or market.
Technical analysts may employ models and trading rules based, for example, on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, cycles or, classically, through recognition of chart patterns.
Technical analysis is widely used among traders and financial professionals, but is considered in academia to be pseudoscience.Academics such as Eugene Fama say the evidence for technical analysis is sparse and is inconsistent with the weak form of the generally-accepted efficient market hypothesis.
Economist Burton Malkiel argues, "Technical analysis is an anathema to the academic world." He further argues that under the weak form of the efficient market hypothesis, "...you cannot predict future stock prices from past stock prices."
However, there are also many stock traders who proclaim technical analysis not as a science for predicting the future but instead as a valuable tool to identify favorable trading opportunities and trends. The assumption is that all of the fundamental information and current market opinions are already reflected in the current price and when viewed in conjunction with past prices often reveals recurring price and volume patterns that provide clues to potential future price movement.
In the foreign exchange markets, its use may be more widespread than fundamental analysis. While some isolated studies have indicated that technical trading rules might lead to consistent returns in the period prior to 1987, most academic work has focused on the nature of the anomalous position of the foreign exchange market.
It is speculated that this anomaly is due to central bank intervention.
Customer Rating:
Summary: Reprint of a old-edition (1948 ?! )
Comment: The book is the reprint of a old edition date back 1948 with some little update up to 1963. The Amazon's Search-Inside(TM) refer to another update version of the book (9 ed.). The book's style and content is very old, the charts are hand-made and frankly speaking now it's possible to do much better and the calculation of indicators now can be exact. If you are interested to the prehistory of technical analysis a would suggest "Welles Wilder - New Concepts in Technical Trading Systems". Modern and better books are those of Achelis and Colby.
Customer Rating:
Summary: old style
Comment: adapt to study the general and global laws of techinal analysis; no for fanatical man, but for who want to create a persoanl knowledge about this discipline
Customer Rating:
Summary: Any Alternatives to this Book?
Comment: This book has substance. It's certainly no easy-read. Compound
and long sentences tend to be used. I'm not really surprised
since this is a book written about 60 years ago.
On page 28 (Dow Theory in Practice), "Divergences sometimes occur
at Reversals in the Major Trend - there have been several instances in
market history, in which, perhaps, the most remarkable occurred way
back in 1901 and 1902, and we shall soon inspect another - but they
also occur with equal with equal frequency at times when no Major
Reversal is developing, and the instance we are discussing here was one
of the latter." can simply be re-phrased as:
"50% of the time, divergences of Averages do not result in market
tops or bottoms."
The style of language is old. This book need not be buried. It only
needs to be revised into an easy-read edition. The King James
Version and the New International Version of the Bible both convey
the same ideas. One can reach heaven with either version. The
only difference is that one is harder to read and the other is easier
to read.
Because this book is a requirement for some examinations, can
anybody tell me where can one find the substance in the book but
learn them in a simpler and modern method?
I would appreciate it.
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