Technical Analysis of Stock Trends, Seventh Edition [Hardcover]

Richard J McDermott (Author)

Book Description

Publication Date: January 14, 1998 | ISBN-10: 0910944040 | ISBN-13: 978-0910944045 | Edition: 7

The most authoritative reference in the field! Considered the best book ever written about chart patterns, Technical Analysis of Stock Trends, Seventh Edition is the definitive text on technical market analysis.Now available in Spanish, German, Chinese, Japanese, and English, this easy-to-read text incorporates the pioneering technical work of Dow, Hamilton, and Schabacker, with analysis tools used by investors today.
Since the first edition was published 50 years ago, nearly one million investors have benefited from these time-tested approaches to understanding the market action of stocks and futures. Robert Edwards' practical clarification of the Dow Theory and his explanations of reversal and consolidation patterns, trendlines, and support or resistance levels are among the most useful analysis tools available to investors. John Magee's proven methods, developed over a lifetime of analysis, remain the most effective measures ever developed for determining reliable buy or sell signals.
This updated and revised 7th Edition adds new charts, data, references, and other material, while preserving the classic proven techniques developed by Edwards and Magee. From corn to copper, T-bonds to yen, you'll learn how to read the signals that alert you to trading opportunities. You'll see how many of today's "hot" technology issues validate classic charting principles.

Editorial Reviews

Review

…the standard of excellence against which everything in technical analysis is measured.
-Ralph Acampora, Prudential Securities

Edwards and Magee's definitive work has been restored to mint condition in this 8th edition…the new editor, Charles Bassetti has made invaluable new additions to bring the book current with today's markets and modern finance practice…He has also rectified the problems of the 6th and 7th editions and removed the anachronisms and obsolescence of the 5th edition. As it was before, it is once again the definitive work on chart analysis.
-Mark L. Wainwright, President, Paradigm Trading Systems

This is the one indispensable book on chart analysis. The original, the Bible, unmatched and unimproved until this excellent, updated Edition…a must read and a requirement for every trader's library…
-Professor Henry Pruden, Ph.D., Golden Gate University, San Francisco, California

There is no better place to begin your education in market behavior than this pioneering book. It has stood the test of time and will continue to apply in the future, because the engine of market patterns and human social psychology never changes.
-Robert R. Prechter, Jr., President, Elliott Wave International

The fact that this text is still being reprinted 53 years after its initial publication should tell you all you need to know. It is as relevant to today's markets as ever. The companies may have changed, but the patterns haven't. This edition contains the basics of trading stock indexes, discussions on options, risk, the significance of technology on technical analysis and trading and numerous other additions… it remains an essential volume for students and practitioners of chart analysis.
-Jack Schwager, Author, Technical Analysis (Schwager on Futures), Stock Market Wizards

#1 all-time classic, considered to be the best book on chart patterns ever written!
-Edward Dobson, Traders Press, Inc.

There are so very few books that have withstood the test of time like this one. It continues to deliver keen insights and guidance to today's investors as it has over the decades.
-Chris Myers, Trader's Library --This text refers to an alternate Hardcover edition.

Book Description

Technical Analysis of Stock Trends, 8th Edition, is a critical reference for investors--especially in today's tumultuous markets. This seminal book--the first to produce a methodology for interpreting and profiting from the predictable behavior of investors and markets--revolutionized technical investment approaches and continues to show traders and investors how to make money regardless of what the market is doing.

Now, with the addition of noted technical analysis authority W. H. Charles Bassetti (editor)--as well as charts and graphs that pertain to today's market environment and major stocks--this completely updated and revised edition confirms the wisdom of the original work for today's markets. Technical traders and chartists will turn to it for:

* Information on utilizing electronic markets, the Internet, wireless communications, and new exchanges, plus current ideas on portfolio management and risk management

* Chapters on futures and derivatives charting and trading

* Expanded treatment of ""runaway"" markets--to help put the recent Internet stock craze in perspective

""Chart formations,"" states Charles Bassetti in the preface, ""are the language of the market."" Technical Analysis of Stock Trends, 8th Edition, translates that language for a new generation of technical traders and investors."

--This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Hardcover: 792 pages
• Publisher: CRC Press; 7 edition (January 14, 1998)
• Language: English
• ISBN-10: 0910944040
• ISBN-13: 978-0910944045
• Product Dimensions: 9.1 x 6.3 x 1.9 inches
• Shipping Weight: 2.2 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (63 customer reviews)
• Amazon Best Sellers Rank: #2,267,575 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

134 of 149 people found the following review helpful:

5.0 out of 5 stars A Classic work on Technical Analysis, June 11, 2000

By 

Charles Martin (Baldwinsville, NY United States) - See all my reviews
(REAL NAME)   

This review is from: x Technical Analysis of Stock Trends (Hardcover)

I read Edwards and McGee, Technical Analysis of Stock Market Trends with great enthusiasm. Here was a book that was originally written in the 1940's that is equally valid to anyone trying to play the stock market in the Twenty First Century. It also gave me insights into the wild times on Wall Street in the Roaring 20's, and taught me how the pros did stock manipulation and organized "bear traps." Understanding Wall Street irrational exuberance in 1928 helps a smart investor understand the irrational exuberance in 1999. I started reading and then using Technical Analysis because I found I couldn't make money on the market just using the fundamental analysis that my accounting professors taught me in business school. I bought stocks based on detailed analysis of the firm's fundamentals and then could not understand why the prices of my "smart" investments immediately dropped like a rock. Technical analysis provides an investor with insights into the market forces (supply and demand) that affect the rise and fall of stock prices and give a rational investor understanding of the psychology of the herd of investors.

Modern web technology available from Clearstation and E-trade take the drudgery out of the technical charting, and make it easy for an amateur investor to become an experienced technical chart reader. Edwards and McGee was the book that helped me develop this skill. I can not praise the authors of this book enough.

44 of 47 people found the following review helpful:

5.0 out of 5 stars daytrading bible, August 30, 1999

By A Customer

This review is from: x Technical Analysis of Stock Trends (Hardcover)

The simple indicators that TAST presents can easily be applied to intraday movements, indicators powerful enough that, with an understanding of the story behind the stock and the market environment, are all one needs to trade. Yes, it takes awhile to read this book, as any dense textbook or reference work would. It's worth every minute and penny to study this manual.

72 of 81 people found the following review helpful:

3.0 out of 5 stars Thorough, slightly boring and expensive, April 23, 1998

By 

[e-mail] (Connecticut) - See all my reviews

This review is from: x Technical Analysis of Stock Trends (Hardcover)

Edwards and Magee is considered one of the bibles of technical analysis. While it covers the basics well (head and shoulders tops, etc.), the shear number of not so well known patterns can be overwhelming. I would doubt most people could (or would) finish this book. It's more of a reference book. John Murphy's Technical Analysis of the Futures Markets is a much better choice. Murphy covers trendlines, patterns, stochastics, Elliot Wave, money management and a host of other technical topics. Don't be fooled by its title -- it's quite applicable to stocks.