Point and Figure Charting: The Essential Application for Forecasting and Tracking Market Prices (Wiley Trading) 2nd Edition

This is first and foremost a specific methodology for a top-down approach. This is a style of investing where you look first at the market, then the sector, and finally the stock itself. This answers the question of when to buy, whereas fundamental analysis answers the question of what to buy.It's true that much of this information is available elsewhere, a good deal of it on the dorseywright web page, but not all of it. This book is a great book for putting the pieces together in a sensible way.This is a book for longer term investors, not day traders or swing traders who like to be in and out of a stock in a few days or a week.This book goes very well with Pring's how to select stocks using technical analysis; this method is easier to use, and more sensible in my opinion, but elements of both fit very well together.Note: This book has nothing to do with dow theory, which is concerned with identifying the primary trend of the market as represented by the DJIA. In this theory, the DJTA is used for confirmation. This has nothing to do with point & figure charting; indeed, Dow Theory, while credited to Charles Dow, was actually first put together by S.A. Nelson in the book The ABCs of Stock Speculation. Robert Rhea and William Hamilton further refined the theory.

i saw this movie while attending BYU in 1979, and i was so lifted, so touched by this movie.the Love Ellyn Burstin demonstrates in this movie is amazing.Sam Sheppard, if im not mistaken, this was his first major film, and he is as always makesan impact on his role regardless of what movie project he is involved.I loved Grandma, s'pect the good ole midwestern ways of Kansas adds great flavour to this film, i s'pect.If you do not believe in the Gift of God, this flick may not be for you. IF you like flicksthat offer hope, love and charity, this movie is a must have in your collection of fav's classics.

Title says Point and Figure Charting.Maybe 2 chapters on that subject the remaining is unrelated to charting, kind of a advertisingfor his firm and him blowing his horn about how bright he is.DON'T buy it for point and figure information.

Technical analysts are becoming an endangered species on Wall Street. Major firms have long favored a fundamental approach emphasizing a nuts and bolts approach to company revenues, use of capital, and innovation. Scores of fundamental analysts closely follow individual sectors of the economy, scour SEC filings, and comment on daily developments pertaining to individual companies. Meanwhile a smaller cadre of 'technicians' churn out charts, graphs, and statistics that follow the ebb and flow of investor capital. Recently two well known full service brokerage firms decimated their already small contingent of technical analysts and another firm let go their star technician.Academic studies on the efficiency of the markets to digest news and quickly reset the market value of securities have long questioned the value of Wall Street analysts to forecast future prices. If news is unpredictable, by definition, and the prices of securities adjust immediately, what is the point of a forecast. These studies have been particularly harsh on technical analysis. Technical analysis may not have helped its cause with a coded language of triple tops, head and shoulders patterns, Fibonnaci retracements, etc. It all begins to sound more like the Occult than analysis. This book blows away a lot of the smoke.Tom Dorsey has given us a straight forward (if somewhat breathless) introduction to his method of technical analysis. His X and O charts record trends of buying (demand) and selling (supply) in the market. It is this dynamic imbalance, he contends, that is the primary determinant of value in the marketplace. The tendency for these trends to repeat over time represents the psychology of investors to buy or sell at critical junctures. For Dorsey fundamental analysis is useful in determining what company stocks should be owned. Then it is the role of the technician to determine when to buy and sell. Fundamental analysis identifies good companies. Technical analysis identifies good stocks. Good companies do things well. Good stocks make investors money.The value of Dorsey's work is to help investors find sectors of the economy and securities that may be due for a reversal of fortune after extended periods of under or out performance. The bottom line is that he has developed a useful toolkit for the investor. A look at his Dynamic Asset Level Investing model [12/2004 - not in this 2001 book] that recommends areas to allocate assets (small capitalization stocks, Latin America, natural resources, energy, etc.) seems prescient just about a year later. Using ETFs (exchange traded funds) to develop a portfolio based on Dorsey's model would have inevitably led investors to a chunk of the best returns available for the period. This book should certainly be read by all investors who want an introduction to technical analysis and a better understanding of one of Wall Street's savviest minds. You may not want to be on the other side of too many of Tom Dorsey's trades!

I buy this book for all my friends that are interested in investing in the stock market. A great book for the 1st timeinvestor and the older investor too. This is the fourth book I have bought in the last 3 months. I must really like it.

Interesting

Thomas Dorsey does a great job at explaining (in the first 50 pages) how the Point & Figure Chart is created, as well as some basic 'forms' that the charts can take. I read some of the reviews of this book thinking that as a Futures/Commodities trader (early stage/beginner) I would learn alot about Point & Figure Charting for Futures/Commodities. I was wrong. There are no more than 3 pages in this book regarding Commodities, and only insofar as they are underlying indicators for stocks that rely on commodity prices. So, if you want to learn about Point and Figure Charting, this is an ok book. There may be others out there that are better, as that aspect of this book served its purpose for me....which is P&F Charting APPEARS to be an excellent methodology for Trend analysis (big picture) for Futures/Commodities. However, if you are a Stock Trader then this book may have much more relevance to you. Not a bad book, just not appropriate for Commodities/Futures Traders.

This book is an excellent tutorial for a common sense approach to investing in the stock market. It is important reading for anyone doing such investing.