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E-grāmata: Technical Analysis of Stock Trends 11th edition [Taylor & Francis e-book]

(Golden Gate University, San Francisco, USA), (Consultant, Chicago, Illinois, USA),
  • Formāts: 686 pages, 355 Illustrations, black and white
  • Izdošanas datums: 13-Dec-2021
  • Izdevniecība: CRC Press
  • ISBN-13: 9781315115719
  • Taylor & Francis e-book
  • Cena: 106,72 €*
  • * this price gives unlimited concurrent access for unlimited time
  • Standarta cena: 152,46 €
  • Ietaupiet 30%
  • Formāts: 686 pages, 355 Illustrations, black and white
  • Izdošanas datums: 13-Dec-2021
  • Izdevniecība: CRC Press
  • ISBN-13: 9781315115719

This revised and updated version presents proven long- and short-term stock trend analysis enabling investors to make smart, profitable trading decisions. Expanded material will be offered on Pragmatic Portfolio Theory as a more elegant alternative to Modern Portfolio Theory; and a more powerful alternative to Dow Theory is presented.



Technical Analysis of Stock Trends helps investors make smart, profitable trading decisions by providing proven long- and short-term stock trend analysis.

It gets right to the heart of effective technical trading concepts, explaining technical theory such as The Dow Theory, reversal patterns, consolidation formations, trends and channels, technical analysis of commodity charts, and advances in investment technology. It also includes a comprehensive guide to trading tactics from long and short goals, stock selection, charting, low and high risk, trend recognition tools, balancing and diversifying the stock portfolio, application of capital, and risk management.

This updated new edition includes patterns and modifiable charts that are tighter and more illustrative. Expanded material is also included on Pragmatic Portfolio Theory as a more elegant alternative to Modern Portfolio Theory; and a newer, simpler, and more powerful alternative to Dow Theory is presented.

This book is the perfect introduction, giving you the knowledge and wisdom to craft long-term success.

Preface to the eleventh edition xv
Preface to the tenth edition xvii
Preface to the ninth edition xxi
Preface to the eighth edition xxv
In memoriam xxxv
Preface to the seventh edition xxxvii
Preface to the fifth edition xli
Preface to the fourth edition xliii
Preface to the second edition xlv
Foreword xlvii
Part I: Technical theory
Chapter 1 The technical approach to trading and investing
3(4)
Definition of technical analysis
4(3)
Chapter 2 Charts
7(4)
Different types of scales
8(3)
Chapter 3 The Dow Theory
11(10)
The Dow Averages
12(1)
Basic tenets
12(9)
Tide, wave, and ripple
14(1)
Major trend phases
14(2)
Principle of confirmation
16(5)
Chapter 4 The Dow Theory's defects
21(10)
The Dow Theory is too late
21(2)
The Dow Theory is not infallible
23(3)
The Dow Theory frequently leaves the investor in doubt
23(1)
The Dow Theory does not help the Intermediate Trend investor
23(3)
The Dow Theory in the 20th and 21st centuries
26(5)
Chapter 5 Replacing Dow Theory with John Magee's Basing points Procedure
31(10)
The fractal nature of the market
31(10)
Chapter 6 Important Reversal Patterns
41(16)
Important Reversal Patterns
42(1)
Time required to reverse a trend
42(2)
The Head-and-Shoulders Top Formation
44(1)
Volume is important
44(3)
Breaking the neckline
47(2)
Variations in Head-and-Shoulders Tops
49(3)
Price action following confirmation: the measuring formula
52(3)
Relation of Head-and-Shoulders to Dow Theory
55(2)
Chapter 7 Important Reversal Patterns: continued
57(20)
Head-and-Shoulders (EN: or Kilroy) Bottoms
57(2)
Multiple Head-and-Shoulders Patterns
59(2)
Tendency to symmetry
61(4)
A leisurely pattern
65(1)
Rounding Tops and Bottoms
66(4)
How Rounding Turns affect trading activity
70(3)
The Dormant Bottom variation
73(1)
Volume pattern at Tops
74(3)
Chapter 8 Important Reversal Patterns: the Triangles
77(26)
Symmetrical Triangles
79(3)
Some cautions about Symmetrical Triangles
82(6)
How prices break out of a Symmetrical Triangle
88(2)
A typical Triangle development
90(4)
Reversal or Consolidation
94(3)
The Right-Angle Triangles
97(1)
A planned distribution
98(1)
Descending Triangles
98(1)
Volume characteristics same as the Symmetrical type
99(1)
Measuring implications of Triangles
100(1)
Triangles on weekly and monthly charts
100(1)
Other Triangular formations
100(3)
Chapter 9 More important Reversal Patterns
103(18)
The Rectangles, Double and Triple Tops
103(2)
Pool operations
105(7)
Relation of rectangle to Dow Line
112(1)
Rectangles from Right-Angle Triangles
113(1)
Double and Triple Tops and Bottoms
113(2)
Distinguishing characteristics
115(3)
Double Bottoms
118(1)
Triple Tops and Bottoms
118(3)
Chapter 10 Other Reversal phenomena
121(30)
The Broadening Formations
121(1)
Volume during Broadening Formations
122(6)
A typical example
128(2)
The Orthodox Broadening Top
130(5)
Why no Broadening Bottoms?
135(1)
Right-Angled Broadening Formations
135(2)
The Diamond
137(2)
Wedge Formations
139(3)
The Falling Wedge
142(1)
Wedges on weekly and monthly charts
143(1)
Rising Wedges common in Bear Market Rallies
144(1)
The One-Day Reversal
144(1)
The Selling Climax
145(2)
Short-term phenomena of potential importance
147(1)
Spikes
147(1)
Runaway Days
148(1)
Key Reversal Days
148(3)
Chapter 11 Consolidation Formations
151(20)
Flags and Pennants
151(2)
The Pennant: a pointed Flag
153(1)
The measuring formula
154(2)
Reliability of Flags and Pennants
156(1)
Where they may be expected
157(1)
Flag pictures on weekly and monthly charts
158(1)
Rectangular Consolidations: an early phase phenomenon
159(1)
Head-and-Shoulders Consolidations
160(2)
Scallops: repeated Saucers
162(6)
Modern versus old-style markets
168(3)
Chapter 12 Gaps
171(18)
Which gaps are significant?
171(1)
Closing the gap
171(3)
Ex-dividend gaps
174(12)
The common or area gap
175(2)
Breakaway gaps
177(5)
Continuation or runaway gaps and the measuring rule
182(2)
Two or more runaway gaps
184(1)
Exhaustion gaps
185(1)
The Island Reversal
186(1)
Gaps in the Averages
187(2)
Chapter 13 Support and Resistance
189(18)
Normal trend development
190(1)
The explanation
191(2)
Estimating Support-Resistance potential
193(3)
Locating precise levels
196(1)
Significance of Support failure
197(1)
Popular misconceptions
198(2)
The round figures
200(1)
Repeating historical levels
200(2)
Pattern Resistance
202(3)
Volume on breaks through Support
205(1)
Support and Resistance in the Averages
206(1)
Chapter 14 Trendlines and Channels
207(22)
The Trendline
207(2)
How Trendlines are drawn
209(2)
Arithmetic versus logarithmic scale
211(5)
Tests of authority
216(4)
Validity of penetration
220(2)
Amendment of Trendlines
222(1)
Double Trendlines and trend ranges
222(1)
Trend Channels
223(1)
Experimental Lines
224(1)
Consequences of Trendline penetration: Throwbacks
224(1)
Intermediate Downtrends
225(1)
Corrective trends: the Fan Principle
226(3)
Chapter 15 Major Trendlines
229(16)
Major Downtrends
242(1)
Major Trend Channels
242(1)
Trendlines in the Averages
243(1)
Trading the Averages in the 21st century
244(1)
Chapter 16 Technical analysis of commodity charts
245(16)
Technical analysis of commodity charts, part 2: a 21st-century perspective
249(1)
Rocket scientists
249(1)
Turtles?
250(2)
The application of Edwards and Magee's methods to 21st-century futures markets
252(7)
Stops
258(1)
A variety of methods
259(1)
Everything you need to know as a chart analyst trading futures
259(2)
Chapter 17 A summary and concluding comments
261(32)
Technical analysis and technology in the 21st century: the computer and the internet: tools of the investment/information revolution
265(2)
The importance of computer technology
267(1)
Summary 1
268(1)
Other technological developments of importance to the technical Magee analyst and all investors
268(3)
The Internet: the eighth wonder of the modern world (EN9: Appendix B, Resources, for the ninth edition has been enormously expanded and is of paramount importance to modern investors.)
268(1)
Marking-to-market
269(1)
Separating the wheat from the chaff
270(1)
Chaff
270(1)
Summary 2
270(1)
Advancements in investment technology, part 1: developments in finance theory and practice
271(4)
Options
271(1)
Quantitative analysis
272(1)
Options pricing models and their importance
273(1)
Futures on indexes
273(1)
Options on futures and indexes
274(1)
Modern Portfolio Theory
275(1)
The wonders and joys of investment technology
275(1)
Advancements in investment technology, part 2: futures and options on futures on the Dow-Jones Industrial Index at the CBOT
275(12)
Investment and hedging strategies using the CBOT® DJIASM futures contract
276(1)
Settlement of futures contracts
276(1)
Marking-to-market
276(1)
Fungibility
276(1)
Differences between cash and futures
277(1)
Dow Index futures
277(1)
Using stock index futures to control exposure to the market
277(2)
Investment uses of Dow Index futures
279(3)
Situation 1: Portfolio protection
279(1)
Situation 2: Increasing exposure with futures
280(1)
Situation 3: Using bond and index futures for asset allocation
280(2)
Perspective
282(1)
Options on Dow Index futures
282(1)
Option premiums
283(1)
Volatility
283(1)
Exercising the option
284(1)
Using futures options to participate in market movements
284(1)
Profits in rising markets
284(1)
Exploiting market reversals
285(1)
Using puts to protect profits in an appreciated portfolio
285(1)
Situation 1
285(1)
Improving portfolio yields
286(1)
Situation 2
286(1)
Using option spreads in high- or low-volatility markets
286(1)
Situation 3
286(1)
Situation 4
287(1)
Perspective
287(1)
Recommended further study
287(6)
Part II: Trading tactics
Chapter 18 The tactical problem
293(10)
Strategy and tactics for the long-term investor-What's a speculator? What's an investor?
297(2)
One definition of the long-term investor
299(1)
The strategy of the long-term investor
299(1)
Rhythmic investing
300(2)
Summary
302(1)
Chapter 19 The all-important details
303(4)
The simplest and most direct way to use a computer for charting analysis
304(1)
Summary
305(2)
Chapter 20 The kind of stocks we want: the speculator's viewpoint
307(8)
The kind of stocks we want: the long-term investor's viewpoint
310(1)
Changing opinions about conservative investing
310(1)
The kinds of stocks long-term investors want: the long-term investor's viewpoint
311(1)
Construction of the Index Shares and similar instruments
311(2)
An outline of instruments available for trading and investing
312(1)
The importance of these instruments: diversification, dampened risks, tax, and technical regularity
313(1)
Summary
313(2)
Chapter 21 Selection of stocks to chart
315(4)
Chapter 22 Selection of stocks to chart: continued
319(6)
Chapter 23 Choosing and managing high-risk stocks: tulip stocks, Internet sector, and speculative frenzies
325(16)
Managing tulipomanias and Internet frenzies and...Bitcoin
326(2)
Detailed techniques for management of the runaway issues
328(4)
Hope springs eternal and there is one born every second
332(9)
Chapter 24 The probable moves of your stocks
341(4)
Chapter 25 Two touchy questions
345(6)
The use of margin
345(1)
Short selling
346(5)
Chapter 26 Round lots or odd lots?
351(2)
Chapter 27 Stop orders
353(8)
The progressive stop
355(2)
Stop systems and methods
357(1)
A brief survey of stop methods
358(1)
Some other stop methods
358(1)
Average True Range
358(1)
Parabolic stop and reverse
359(1)
Target stops
359(1)
A natural method used by the Turtles
359(2)
Chapter 28 What is a Bottom and what is a Top?
361(12)
Basing Points
362(2)
Basing Points: a case analyzed
364(1)
The Basing Points paradigm
365(2)
Key to Figure 28.2 analysis
366(1)
A narrative of the events in the chart
367(1)
The complete Basing Points Procedure: taking into consideration the setting of Basing Points on both wave lows and new highs
368(1)
The complete Basing Points procedure
369(1)
Two charts giving a long-view perspective on the complete (Variant 2) procedure
370(1)
The representative case fully analyzed using wave lows and new highs
370(1)
A narrative of the events in the chart
371(2)
Chapter 29 Trendlines in action
373(10)
Buying stock, "going long"
375(3)
Liquidating, or selling a long position
378(1)
Selling stock short
379(1)
Covering short sales
379(1)
Additional suggestions
380(1)
General outline of policy for trading in the Major Trend
380(3)
Chapter 30 Use of Support and Resistance
383(6)
Chapter 31 Not all in one basket
389(2)
EN: diversification and costs
390(1)
Chapter 32 Measuring implications in technical chart patterns
391(2)
Chapter 33 Tactical review of chart action
393(24)
The Dow Theory
393(7)
Head-and-Shoulders Top
400(1)
Head-and-Shoulders Bottom
401(2)
Complex or multiple Head-and-Shoulders
403(1)
Rounding Tops and Bottoms
403(3)
Symmetrical Triangles
406(2)
Right-Angle Triangles
408(1)
Broadening Tops
408(1)
Rectangles
408(1)
Double Tops and Bottoms
409(1)
Right-Angled Broadening Formations
409(1)
The Diamond
409(1)
Wedges
409(1)
One-Day Reversals
410(1)
Flags and Pennants
410(1)
Gaps
411(3)
Support and Resistance
414(1)
Trendlines
414(3)
Chapter 34 A quick summation of tactical methods
417(2)
Get out of present commitments
417(1)
Make new commitments
418(1)
Chapter 35 Effect of technical trading on market action
419(2)
Chapter 36 Automated trendline: the Moving Average
421(6)
Sensitizing Moving Averages
422(1)
Crossovers and penetrations
422(2)
The PENTAD Moving Average system from Formula Research
424(3)
Chapter 37 The same old patterns
427(54)
Not all the same
428(53)
Chapter 38 Balanced and diversified
481(6)
September 28, 1985: an oversold market
486(1)
Chapter 39 Trial and error
487(2)
Chapter 40 How much capital to use in trading
489(2)
Chapter 41 Application of capital in practice
491(4)
Put and call options
493(2)
Chapter 42 Portfolio risk management
495(10)
Overtrading: a paradox
496(2)
Risk of a single stock
498(1)
Risk of a portfolio
499(1)
EN9: Risk and trend
499(1)
Value-at-Risk procedure
499(1)
Pragmatic Portfolio Theory (and practice)
500(1)
Pragmatic portfolio risk measurement
500(2)
Determining the risk of one stock
500(1)
Determining the risk for a portfolio
501(1)
Measuring maximum drawdown (maximum retracement)
502(1)
Pragmatic portfolio analysis: measuring the risk
502(1)
Portfolio Ordinary or Operational Risk
502(1)
Portfolio risk over time
503(1)
Portfolio extraordinary or catastrophic risk
503(1)
Controlling the Risk
503(1)
Summary of Risk and Money Management Procedures
503(1)
Infinitely more sophisticated risk and money management procedures-Ralph Vince and optimal f
504(1)
Chapter 43 Stick to your guns 505(2)
Appendix A: The Dow Theory in practice 507(16)
Appendix B: Resources 523(14)
Appendix C: Technical Analysis: beyond Edwards & Magee 537(28)
List of Illustrations and Text Diagrams 565(14)
Alphabetic Index of Stock Charts 579(16)
Glossary 595(26)
Bibliography 621(2)
Index 623
WHC Bassetti is the Editor and Coauthor of the classic reference, Technical Analysis of Stock Trends, 10th Edition, first written by Robert D. Edwards and John Magee in 1948. Mr. Bassetti traded as a student and client of John Magee in the 1960s, beginning a long, distinguished trading career encompassing virtually all of the financial markets, stocks, bonds, options and futures.

In 1972, as a Principal and Vice President of Californias first licensed commodity trading advisor he pioneered computerized trading systems and traded professionally for individual and institutional clients. His company was one of the first to manage capital for Merrill Lynch, Dean Witter et al and he and his partners created and managed some of the first commodity mutual funds.

In 1984 he was appointed CEO of Options Research Inc., a company founded by Blair Hull of Chicagos Hull Trading Company, formerly the largest market maker on the floor of the CBOE. ORI was one of the first if not the first, companies to computerize the analysis of options and futures. Clients for analytical and portfolio services included Morgan Stanley, First Boston, and Kidder Peabody et al. Mr. Bassettis organization managed options arbitrage capital compiling a brilliant record during the market crash of 1987, and traded as a market maker with a seat on the Pacific Stock Exchange.

A graduate of Harvard University and a former NASA systems engineer, Mr. Bassetti is currently Distinguished Adjunct Professor of Finance and Economics at Golden Gate University, San Francisco, Editor of the John Magee Investment Series for St. Lucie Press and a practicing technical analyst.

In spite of his decades of work in computerized trading systems, Mr. Bassettis favorite analytical tool remains a ruler, a tool he teaches graduate students and the general public in his monthly 2-1/2 day seminars at Golden Gate University.