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George Lindsay and the Art of Technical Analysis: Trading Systems of a Market Master Hardcover – August 1, 2011

ISBN-13: 978-0132699068 ISBN-10: 0132699060 Edition: 1st

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George Lindsay and the Art of Technical Analysis: Trading Systems of a Market Master + George Lindsay's "An Aid to Timing": Annotated Edition by Ed Carlson + George Lindsay Training Course: 1921-1942 Long Cycle
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Product Details

  • Hardcover: 256 pages
  • Publisher: FT Press; 1 edition (August 1, 2011)
  • Language: English
  • ISBN-10: 0132699060
  • ISBN-13: 978-0132699068
  • Product Dimensions: 8.3 x 5.8 x 0.9 inches
  • Shipping Weight: 11.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (37 customer reviews)
  • Amazon Best Sellers Rank: #400,867 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

“George Lindsay was far more than just another analyst seeking solutions to the market’s mysteries. He made some eerily accurate market predictions, and his techniques and explanations continue to be roadmaps for many of today’s better technical analysts. This book belongs on the desk of anyone who is serious about market analysis and forecasting.”

--Peter Eliades, Editor-Publisher, Stockmarket Cycles; President, Stockmarket Cycles Management

 

“George Lindsay was a gifted market visionary, who operated at a time when all of the wonderful technical tools we now use were unavailable. He had to get by on just what he could see in the simple charts, and that led Lindsay to find patterns and behaviors invisible to most people. Ed Carlson has captured these lessons before they are lost to time so that we can all benefit.”

--Tom McClellan, Editor, The McClellan Market Report, www.mcoscillator.com

 

“For followers and fans of George Lindsay and his methods, look no further because this is the bible. For those wishing to study the life and methods of George Lindsay, this book is a must for your bookshelf.”

--Martin Pring, President, Pring.com

 

“Ed Carlson has done market analysts a terrific service in presenting George Lindsay’s work for posterity. The book starts with a well-researched biography and progresses to an organized presentation of Lindsay’s insights into history and market patterns. The book is filled with illustrations and rounded out with pithy quotes from Lindsay. When you finish the book, you feel that you just spent a week with the guy.”

--Robert Prechter, Elliott Wave International

 

“Ed Carlson presents an engaging account of a long-forgotten market technician, using real market action to animate his tale. As a trader, Ed makes the story useful and readers can easily apply the lessons of history to their own portfolios.”

--Michael Carr, Chief Market Strategist, Dunn Warren Investment Advisors; Editor of the Market Technicians Association newsletter, Technically Speaking

 

“I remember reading some of Lindsay’s works in the Encyclopedia of Stock Market Techniques and saw him on Wall Street Week. Both were fairly difficult to comprehend at the time (mid-1980s), but it was fascinating to watch and read his determination to project his analysis, especially with enthusiasm and an abundance of confidence. Ed Carlson has interpreted seemingly difficult information into an extraordinary tome about a market technique that has been essentially lost for decades. This is the first work on Lindsay that I have seen which lays out his process in an orderly and understandable manner. It was truly enjoyable reading.”

--Greg Morris, author of Candlestick Charting Explained and The Complete Guide to Market Breadth Indicators; Chief Technical Analyst, Stadion Money Management

 

From 1950 through the 1970s, George Lindsay created some of technical analysis’s most fertile and profitable innovations. Brilliant and eccentric, Lindsay was honored with the Market Technician’s Award in 1991--the field’s most prestigious honor. Until now, however, the primary source for Lindsay’s work has been his old newsletters: materials that can be difficult to find and work with.

 

Now, Ed Carlson rescues Lindsay’s powerful methods for posterity--and for modern investors savvy enough to recognize their value. Carlson explains Lindsay’s models clearly, simply, and visually. Using this book, you can apply Lindsay’s techniques without strong mathematical expertise and without deciphering Lindsay’s dense writing style.

 

Whether you’re a long- or short-term investor, money manager, or market historian, this book will be an indispensable addition to your technical analysis library--and your trading arsenal.

  • Recognize surprising patterns in “haphazard” movements: how Lindsay’s “Three Peaks and a Domed House” model demystifies short-lived trends
  • Use “The Lindsay Timing Model” to identify tradable market tops
  • Predict “decisive, often violent” market movements
  • Author includes a start-to-finish case study to better understand Lindsay’s methods

About the Author

Ed Carlson, CMT, is an independent trader and consultant based in Seattle, Washington. He hosts the MTA Podcast Series: Conversations and manages the website Seattle Technical Advisors.com. Ed spent 20 years as a stockbroker; he is a chartered market technician and holds an M.B.A. from Wichita State University.


More About the Author

Ed Carlson was born(1959)in Wichita, KS and earned a Bachelors degree in Guitar Performance while studying under the jazz guitar legend Jerry Hahn at Wichita State University.

After a short music career spent with travelling rock bands in the Pacific Northwest while in his early twenties, Ed returned to Wichita State University to earn his M.B.A. and was hired as a stockbroker by Dean Witter Reynolds in 1990. By April 1991 he had transferred to the Seattle office and spent the next 15 years at what was to become Morgan Stanley and 4 more years at Wedbush Morgan. During this time he became a husband and a father.

After the 2000 crash he became increasingly disillusioned with the brokerage industry and their approach to investors and investing. It was during this time that he began studying technical analysis and eventually earned the Chartered Market Technicians designation from the Market Technicians Association.

Ed hosts the MTA Podcast Series:Conversations and is Chief Technician at SeattleTechnicalAdvisors.com. He is the author of "George Lindsay and the Art of Technical Analysis".

For more info visit GeorgeLindsay.com

Customer Reviews

The book is well written.
Amazon Customer
Casual readers without a desire for detailed explanation and multiple interpretations of market chart patterns may get bogged down in much of the book.
Robert Hord, CIMA
It is a working read as this is a technical book.
Greg Schnell

Most Helpful Customer Reviews

17 of 19 people found the following review helpful By P. Matt Blackman on September 4, 2011
Format: Hardcover
I am a regular reviewer of trading and financial books and unlike the previous reviewer, found this book an interesting read. Kirkfield is clearly not a trader, nor has he put any serious effort into studying it. He demonstrates a clear negative agenda against a technical approach as evidenced by his comment, "The worth of Technical Analysis (TA) is always going to be contentious, even in a well-written book." And recommending a book like Chariots of the Gods as a better alternative? You got to be kidding! And you accuse Carlson of a credibility gap?

George Lindsay was certainly anything but conventional but his observations and methods of counting to reveal potential market tops provides valuable insights for those interested in technical trading. If you are a fundamentally based, value type investor who believes in such works as The Efficient Market Hypothesis (Fama and French) or The Random Walk Down Wall Street by Burton Malkiel, both of which imply that since markets are random and unpredictable, any method (possibly other than one fundamentally derived) that seeks to anticipate price movement (in other words market timing) is a waste of time, Carlson's book and most books on technical analysis methodologies are not for you.

The early chapters on Lindsay are non-technical and present the story of a man who was clearly conflicted with who he was. But his passion for studying history cycles and trends will interest the technically inclined market student. Granted, Lindsay's methods of counting his Three Peaks and Dome pattern are a challenge and as Carlson states, subject to much variability. But let's not throw out the baby with the bathwater. There is much to be gained from examining Lindsay's contention that, "Everything in the universe moves in a rhythm.
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13 of 17 people found the following review helpful By BrianB VINE VOICE on October 21, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This book starts in a promising fashion. I was taken up by the idea of an oddball genius, trained as an engineer, who could foretell the stock market with pattern analysis. I tried to follow the prescribed method, hoping for some insight into our current markets, but in the end I gave up, because it was simply too arbitrary and non specific.

Lindsay's theory involves the concept of fixed time intervals, specifically intervals of 36, 40 and 56 years. He believes that key historical events occur at these intervals. I confess that the examples of this phenomenon were not convincing.

The book then moves on to discuss the "three peaks and a domed house," a particular stock market pattern, which, when recognized, allows the trader to predict the near term future of the Dow Jones Industrial Average. The pattern applies to other averages, but Lindsay said the Dow was the best one to use and follow. Unfortunately, for a method steeped in mathematics, the directions were qualitiative, not quantitative, and maddeningly imprecise. I was unable to use his method.

Carlsen describes Lindsay's political views as "incongruous" because he was a conservative gay man. Lindsay's political views were not particularly conservative for those times (1970), and the example the author cites describes Linday's preference for capitalism over socialism. I found it incongruous that anyone should expect a person to hold predefined opinions because of their sexual preference.

The book is well written, and a picture of Lindsay emerges through the pages, but his stock market method evaded my grasp. Perhaps I don't have the ability to discern these patterns, but I remain doubtful about Lindsay's method.
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11 of 15 people found the following review helpful By John Forman on August 16, 2011
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This book comprises a couple of primary parts. The first is a brief biography of George Lindsay, who is someone with whom I'm guessing most prospective readers are not familiar. It's not particularly lengthy bio, however, as apparently Lindsay wasn't someone well known on a personal level. He is known for his stock market newsletter writing back during the 1960s and 1970s. His market calls were apparently so good that key market followers of the time praised him very highly.

After the bio, the book gets into the featured technique of Lindsay's - the Three Peaks and a Domed House chart formation. The author lays that out over four chapters. Although Lindsay didn't really leave behind any singular technical manual type of explanation of the pattern, the author (Carlson) does do a pretty good job of teasing out the specifics from his writings on the subject.

The next part of the book covers The Lindsay Timing Model. This is the application of "counts" to project market turning points. We're not talking cycles here. It's not about consistently repeating patterns, but rather taking a recently completed chart pattern and using it as the basis for a projection of a trend move timing.

The final section extends the counting element and brings in intervals and cycles. It also provides some case study evidence.

Now, it should be noted that the patterns and counts and whatnot discussed in the book are not short-term in nature. They are mainly based on daily bars and can take quite a while to unfold. For example, Three Peaks and a Domed House is a daily chart pattern which takes months to play out, though there are elements of it which could be traded along the way in slightly shorter-term ways.

Overall, I found the Lindsay work interesting.
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