Point and Figure Charting: The Essential Application for Forecasting and Tracking Market Prices (Wiley Trading) - Hardcover

Dorsey, Thomas J.; Marketplace Books

Hardcover

ISBN 10: 0471412929 ISBN 13: 9780471412922

Publisher: John Wiley & Sons Inc, 2001

Synopsis

The classic source for the technical analysis discipline now brings readers up to date in techniques and technology
Now, in this second edition of the classic text, expert Thomas Dorsey shows, step-by-step, how to create, maintain, and interpret your own point and figure charts. He explains how you can use your findings to track and forecast market prices and develop an overall investment strategy. Perhaps most importantly, he helps you develop confidence in the market and take decisive action at the appropriate time, rather than reacting after the fact. Dorsey also highlights new developments in the field and incorporates the use of recently developed software to track any market using point and figure methods. Written for both new and experienced P & F chartists, this updated edition of a technical analysis classic brings point and figure charting into the Internet age.
Thomas J. Dorsey (Richmond, VA) is President of Dorsey, Wright & Associates, a registered investment advisory firm that uses point and figure charting as its main source of technical analysis.

About this title

From the Publisher

Point and figure was one of the very first price charting methods ever developed, popular long before technical analysis became the norm. In his superlative book, Dorsey brings readers up to date on point and figure charting techniques then goes beyond existing literature to discuss today's practical applications of the method and recommended strategies. He describes actual trading techniques as applied to specific markets including charting stocks, options, commodities and using point and figure methods for mutual fund selection.

From the Back Cover

Many investors tend to forget that the most basic force affecting securities prices is the law of supply and demand. Point and figure charting is a time-honored, proven method of tracking fluctuations in supply and demand and recognizing promising trends early enough to take advantage of them.

In this book, Thomas J. Dorsey shows you, step-by-step, how to create, maintain, and interpret your own point and figure charts. He explains how you can use your findings to track and forecast market prices and develop an overall investment strategy. Perhaps most importantly, he helps you develop confidence in the market and in your own ability to take decisive action at the appropriate time, rather than reacting belatedly to rapidly changing market conditions.

Point and Figure Charting isn't just for brokers. It's a simple, clear, straightforward presentation of the oldest and most completely tested method for technical analysis of stock prices. This classic method is both simple and accurate enough to enable every investor to become a technical analyst. With the help of this book, you will find yourself tracking not only individual stocks, but also market segments, commodities, mutual funds, and more. You will learn to use important market indicators, such as the NYSE Bullish Percent; make and use relative strength calculations; apply sector rotation; and trade options, commodities, and other financial instruments using point and figure charting.

No other book on technical analysis takes you so far, so fast. You will move beyond theory into actual trading techniques you can apply in specific markets to become a self-reliant investor. You will learn to plan your own investment strategies designed to outperform the market and produce returns on your investments that, up to now, you've only dreamed of.

If you're tired of leaving your financial future in the hands of money managers who don't seem to do much more than follow the herd from one fad investment to the next, here is your chance to take control of your investments with a logical, sensible approach built around the way the market actually functions.

Finally . . . a clear approach for managing your investments and understanding the markets

It's not too late to take control of your own investments, to stop treating the market as an enigma, and to make technical analysis a practical reality in your investment program. With the methods in this book, you will find yourself investing with a new confidence and self-reliance that will be the envy of your fellow investors. And don't be surprised if your broker offers you a job.

"Everyone who's involved in financial markets must understand point and figure charting in order to get the full picture, whatever your view of technical analysis."—Jim Rogers Author of Investment Biker

"Being in the right stock market sector at the right time and getting out at the right time is only one of many things you'll learn from Tom Dorsey's great book. Should be on the desk of everyone interested in the stock market, especially professionals."—Michael Burke Editor, Investors Intelligence

"Tom Dorsey has once again demonstrated that technical analysis can co-exist with fundamental analysis. All too often Wall Street has overemphasized 'What to Buy.' Now, using Tom's charting techniques, the investor will have confidence in knowing 'When to Buy and Sell.'"—Stephen T. Mitchell Managing Director, Alex Brown & Sons, Inc.

Edition details

• Publisher: John Wiley & Sons Inc
• Publication date: 2001
• ISBN 10: 0471412929
• ISBN 13: 9780471412922
• Binding: Hardcover
• Language: English
• Edition number: 2
• Number of pages: 293