Magee / Edwards Technical Analysis of Stock Trends by Robert D. Edwards and John Magee

1. Auflage 2011
ISBN: 978-965-00-6052-7
Verlag: Snowball Publishing
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 516 Seiten

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.

Autoren/Hrsg.

Magee, Robert Edwards; John

Edwards, Robert

Magee, John

Leseproben

ILLUSTRATIONS
Regarding the illustrations in this book:—Except for those which are marked as adapted from other sources, the charts listed as FIGURES below have been reproduced from the authors’ own “working” charts. As such they were made up originally for private use only and without a thought to their eventual reproduction, much less their publication. They are not and do not pretend to be works of art, but it is hoped that they will, despite their “home-made” appearance, serve the purpose of illustrating the various formations, patterns, market phenomena and trading principles discussed in the text. That they do not show the clean line and expert lettering of a professional draftsman’s work is regretted. The reader will, we trust, make allowances. As for their selection, it should be stated most emphatically that it was not necessary to search through thousands of charts in order to find good examples of all these various technical formations. Many dozens—even hundreds—were available for practically every type of pattern. Anyone who has learned to recognize them can find for himself plenty of good technical pictures in a quick examination of even as small a portfolio as fifty or a hundred charts. In other words, the illustrations in this book are in no sense unique. In selecting them we have tried only to show as much variety as possible and also samples from previous as well as more recent market history. Perhaps it is not necessary, but it is at least in accord with custom, to add that the information as to specific market prices, volume of transactions, etc., used in preparing our illustrations (or cited in the text of this book) has been derived from sources believed to be reliable but is not guaranteed. PART ONE
FIGURE 1  UNITED STATES STEEL. Monthly price ranges from January 1929 to December 1946. 2  Important strings of the DOW-JONES INDUSTRIAL AND RAIL AVERAGES, 1941 through 1946. 3  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume, Feb. 1 to Aug. 31, 1941. 4  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume, March 2 to October 31, 1942. 5  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume, Nov. 2, 1942 to June 30, 1943. 6  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume, July 1, 1943 to Jan. 31, 1944. 7  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume, May 1 to Nov. 30, 1945. 8  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume from Dec. 1, 1945 to May 31, 1946. 9  The DOW-JONES INDUSTRIAL AND RAIL AVERAGES. Daily closing prices and total market volume from May 4 to Oct. 19, 1946. 10  AMERICAN POWER & LIGHT. The Head-and-Shoulders formation which topped its recovery in February 1947. 11  CHICAGO, MILWAUKEE, ST. PAUL & PACIFIC. The Head-and-Shoulders top formation which ended its Bull Market in February 1946. 12  WESTINGHOUSE ELECTRIC. The Head-and-Shoulders top of January-February 1946. 13  REPUBLIC STEEL. The start of a Head-and-Shoulders formation in 1936 which was never completed. 14  MACK TRUCKS. A classic Head-and-Shoulders Major top. 15  DUPONT. Its Major top in 1936, with an unusual pull-back. 16  CONSOLIDATED EDISON CO. of New York. The Head-and-Shoulders reversal of 1937. 17  REPUBLIC AVIATION. Its 1946 Bull Market top. The Head-and-Shoulders measuring formula. 18  GRAHAM-PAIGE MOTORS. Its Major top in 1946, a perfect Head-and-Shoulders formation. 19  NEW YORK CENTRAL. Head-and-Shoulders top in June-July 1945, followed by a Multiple Head-and-Shoulders bottom. 20  UNION CARBIDE & CARBON. The Head-and-Shoulders within a Head-and-Shoulders top formation which capped its 1929 Bull Market. 21  LOCKHEED AIRCRAFT. A Head-and-Shoulders bottom reversal in December 1943. 22  DOME MINES. Weekly chart showing the Major Head-and -Shoulders bottom of 1942. 23  NEWPORT INDUSTRIES. Failure of volume to increase when neckline of Head-and-Shoulders bottom is broken. 24  MARSHALL FIELD. Multiple Head-and-Shoulders top of 1946. 25  BUDD MANUFACTURING (now The Budd Co.). Multiple Head-and-Shoulders top of 1946. 26  AMERICAN LOCOMOTIVE. Extended top of Multiple type, 1946. 27  BALTIMORE & OHIO PFD. Multiple Head-and-Shoulders bottom formation with six shoulders in 1945. 28  CREOLE PETROLEUM. Head-and-Shoulders in head of Major Head-and-Shoulders bottom, 1941-42. 29  GENERAL BRONZE. Multiple type bottom formed July-September 1945. 30  LONE STAR CEMENT. Major bottom development of 1941-43, a complex Head-and-Shoulders. 31  PUBLIC SERVICE CORP. OF N. J. Weekly chart showing Multiple bottom pattern of 1941-42. 32  NATIONAL SUPPLY. The “two-headed” top formation of 1946. 33  PHILLIPS PETROLEUM. The 1946 top—a Multiple pattern merging into a Rounding Turn. 34  AMERICAN & FOREIGN POWER 2ND PFD. A. A Rounding Bottom formed in 1945. 35  AMERICAN SAFETY RAZOR. Monthly chart. Two Major bottoms—a Head-and-Shoulders in 1932 and “Bowl” in 1942. 36  THE BUDD CO. Monthly chart showing Major Rounding Bottom of 1942. 37  CERTAIN-TEED PRODUCTS. Monthly chart. Major Rounding Bottom of 1942. 38  J. I. CASE. The Rounding Bottom of 1932 showing a temporary rally out of pattern. 39  GAME WELL CO. A “dormant” type of Rounding Bottom in 1944. 40  INLAND STEEL. Semi-dormant Rounding Bottom of 1935. 41  GABRIEL CO. A hybrid bottom pattern formed in 1945. 42  VANADIUM CORP. The start of a Rounding Top in 1936. 43  VANADIUM CORP. The sequel to the market action shown in Figure 42. 44  HUDSON BAY MINING AND SMELTING. Major bottom of 1941-42, a perfect Symmetrical Triangle. Weekly chart. 45  SEARS, ROEBUCK. Symmetrical Triangle top of 1946, and subsequent step-down pattern of same form. 46  JOHNS-MANVILLE. Triangular bottom development of 1941-42. Weekly chart. 47  DELAWARE & HUDSON. Weekly chart. Wide-swinging Symmetrical Triangle bottom of 1941-42 with throw-back to apex support. 48  CUNB-AMERICAN SUGAR. A Rounding Bottom in 1945 which merged into a Symmetrical Triangle. 49  NATIONAL GYPSUM. A false move out of the extreme apex of a Symmetrical Triangle. 50  NORTH AMERICAN CO. Symmetrical Triangle topping a recovery from a panic low in 1937. 51  VERTIENTES-CAMAGUEY SUGAR of Cuba. Triangular-like development at 1946 top. 52  EASTERN AIRLINES. A Symmetrical Triangle in 1947 that did not carry through. 53  NATIONAL GYPSUM. A typical Symmetrical Triangle leading to continuation of the preceding trend in 1944-45. Weekly chart. 54  U. S. INDUSTRIAL CHEMICALS. Triangular pattern completing an extended re-accumulation period. 55  AMERICAN BANK NOTE. The Major bottom reversal of 1941-42. 56  CELANESE CORP. Ascending Triangle of consolidation type in 1945. 57  BRIGGS MFG. Weekly chart of 1941-43 showing triangular bottom of ascending type. 58  SEARS, ROEBUCK. The Symmetrical-Descending Triangle top of 1936 and subsequent Intermediate recovery bottom of ascending form. 59  SOUTHERN RAILWAY PREFERRED. A perfect Ascending Triangle in 1936. 60  ARMOUR & CO. Long Ascending Triangle in 1946-47 in which distribution eventually overcame upward trend. 61  SOCONY-VACUUM OIL. Ascending Triangle forming head of Head-and-Shoulders bottom in 1942. Weekly chart. 62  BATH IRON WORKS. Descending Triangle top of 1946, showing adjustment of pattern lines for ex-dividend gap. 63  REVERE COPPER & BRASS. Large Descending Triangle top of 1946. 64  WESTINGHOUSE ELECTRIC. The Descending Triangle which topped out “WX” ahead of the general...