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Showing 1-10 of 140 reviews(Verified Purchases). See all 227 reviews
on August 23, 2016
As someone who does not generally write reviews for things on the internet, I felt so compelled at the sheer raw value offered to me by this book in exchange for so little money that I had to come here and write about it myself.
The quintessential essence of Stan Weinstein is that it's concepts are both generalized yet hyper specific. He doesn't care what sector, what stock, what software, what formula, or what cycle, but he teaches you fundamentally the four stages that publicly traded assets go through. His hyper specificity lies in his ability to show you how to identify which stage a stock is in, and which stage it is heading to next. And he does it using formulas and calculations so simple they can be done with any modern trading software. And it is brilliant. The intelligence of this book is actually applicable outside stock-picking, although it is presented in that context. Larger economic, social, and fundamentally-human trends follow the same hilariously simple yet mind bending 4 damn parts of a pattern.
I've read every page of this book and it's turned me from shooting blind in a losing portfolio to consistent gains.
As with any learning process, it takes time. The steps are simple. Set your self up with the requisite software. Read every page of this book, vigorously, deeply understand it, memorize the techniques, and take the quizzes over and over until you can recite the chart-reading ruleset by heart.
And you will see my friend, the truth is out there.
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on November 9, 2013
Below are key excerpts from the book that I found particularly insightful:

1- "After having mad plenty of mistakes, I've learned how to decipher the very obvious clues that the market gives us and then tactically respond to a given situation. I'm going to teach you a new set of stock market rules that will make the market much less stressful and far more profitable for you. These rules won't have you pouring over balance sheets or listening to some company spokesman drone on about his firm's progress toward higher returns on shareholders' equity. These rules will require that you do two things: control your own greed and fear, and find and decipher the obvious clues that the market tosses your way."

2- "Therefore, your philosophy should be simple: 1. Never buy or sell a stock without checking the chart. 2. Never buy a stock when good news comes out, especially y if the chart shows a significant advance prior to the news release. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 3. Never buy a stock because it appears cheap after getting smashed. When it sells off further, you'll find out that cheap can become far cheaper! 4. Never buy a stock in a downtrend on the chart (I'll soon show you specifically how to define a downtrend). 5. Never hold a stock that is in a downtrend no matter how low the price/earnings ratio. Many weeks later and several points lower, you'll find out why the stock was going down. 6. Always be consistent. If you find that you're sometimes buying. sometimes selling in practically identical situations, then there is something terribly wrong with your discipline."

3- "Any stock has to be in one of four market stages, and the trick to be able to identify each one. The four stages of a major cycle. as illustrated in Chart 2-1 are: (1) The basing area, (2) the advancing stage, (3) the top area, and (4) the declining stage."

4- "There is never an investment—whether it be stocks gold, real estate, gems, or Naugahyde futures—that is a "buy it and forget it" situation. All investments go through cycles, and When you hold through the down part of the cycle (Stage 4) you suffer both financially and emotionally."

5- "After years of observing and studying market cycles, there is absolutely no doubt in my mind that sector analysis is just as important as overall market timing. In fact, in certain markets it is even more important."

6- "There definitely is! While no system will ever be a perfect forecaster of the future, we can learn some simple rules that will put the probabilities of success strongly in a our favor...THE LESS RESISTANCE THE BETTER...THE IMPORTANCE OF VOLUME..never trust a breakout that isn't accompanied by a significant increase in volume...IT'S ALL RELATIVE The next important factor to check out when narrowing down our list of potential buys is the relative strength (RS). This is a measure of how a stock is acting in relation to the overall market...If the relative strength is n good shape and improving and all other criteria are positive, then go for it. But absolutely never buy a stock, no matter how good the other factors, if the relative strength is in negative territory and it remains in poor shape."

7- "QUICK REFERENCE GUIDE ON BUYING...Check the major trend of the overall market. • Uncover the few groups that look best technically. Make a list of those stocks in the favorable groups that have bullish patterns but are now in trading ranges. Write down the price that each would need to break out. • iNarrow down the list. Discard those that have overhead resistance nearby. Narrow the list further by checking relative strength. Put in your buy-stop orders for half of your position for those few stocks that meet our buying criteria. Use buy-stop orders on a good-'til-canceled (GTC) basis. If volume is favorable on the breakout and contracts on the decline, buy your other half position on a pullback toward the initial breakout. If the volume pattern is negative (not high enough on breakout), sell the stock on the first rally. If it fails to rally and falls back below the breakout point, immediately dump it."

8- "STAN'S DON'T COMMANDMENTS...Don't buy when the overall market trend is bearish. * Don't buy a stock in a negative group. Don't buy a stock below its 30-week MA. Don't buy a stock that has a declining 30-week MA (even if the stock is above the MA). • No matter how bullish a stock is, don't buy it too late in an advance, when it is far above the ideal entry point. • Don't buy a stock that has poor volume characteristics on the breakout. If you bought it because you had a buy-stop order in, sell it quickly. Don't buy a stock showing poor relative strength. •Don't buy a stock that has heavy nearby overhead resistance. • Don't guess a bottom. What looks like a bargain can turn out to be a very expensive Stage 4 disaster. Instead, buy on breakouts above resistance."

9- "DON'TS FOR SELLING 1. Don't base your selling decision on tax considerations...2. Don't base your selling decision on how much the stock is yielding...3. Don't hold onto a stock because the price/earnings (PIE) ratio is low...4. Don't sell a stock simply because the PIE is too high...5. Don't average down in a negative situation...6. Don't refuse to sell because the overall market trend is bullish...7. Don't wait for the next rally to sell...8. Don't hold onto a stock simply because it is of high quality."

10- "This increased volatility in the stock market is a two-edged sword. On the positive side, it gives us a chance to make money even faster. The downside is that when a reversal occurs, your stock can move from Stage 2 into Stage 3 far more quickly. This is especially true if it's one of the overly loved institutional favorites. These issues can really change direction in a hurry when bad news comes out and the institutional herd starts to panic. The way to protect yourself is by using a sell-stop order."

11- "Don't waste your time trying to determine if trading or investing is the best way to make money. There is no one best way; either approach can lead to success if skillfully applied. Instead, give some thought to understanding the kind of person you are and which approach you'd be comfortable with. Use a little introspection to find out what cloth you're cut from, and then become the best damned investor or trader that you can be! It leads to disaster if you decide to invest, but then get so angry because your stock dropped six or seven points that you end up dumping it just before the next upleg. So have an honest talk with yourself. If you obviously belong in one area or the other, then get there. Interestingly, there really are a number of market players who are in the middle ind can adopt either approach. If you fall into this category, I suggest a mixed approach."

12- "SUMMARY OF SHORT-SELLING DON'TS Don't sell short because the P/E is too high. Don't sell short because the stock has run up too much. • Don't sell short a sucker stock that everyone else agrees must crash. • Don't sell short a stock that trades thinly. Don't sell short a Stage 2 stock. Don't sell short a stock in a strong group. Don't sell short without protecting yourself with a buy-stop order."

13- "When a truly one-sided opinion really grabs the Street, it becomes so heavy you can almost cut it with a knife. One other word caution: I disagree with those who believe that contrary opinion alone is enough. Not true. I view CO as a psychological potential. just as the price/dividend ratio represents a value potential. Neither one should ever make you buy or sell stocks if all the timing gauges disagree. When CO gets the agreement of the other technical tools, then get set, because a big market move is getting ready to unfold."

14- "Here are the proper ways to increase your probability of success (Options)...Buy a call option only on a stock that is in Stage 2 or is moving into Stage 2...2. Buy only an option that has big potential...3. Give yourself a reasonable amount of time before expiration...4. Buy an option that is close to the striking price and, if possible, in the money...5. Use a very tight protective stop on your option positions."
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on February 7, 2015
4 1/2 stars. I bought this book used through Amazon, on the recommendation of my cousin, who's a stock broker. He said it would be a really good place to begin my education on making TRADES rather than INVESTMENTS. He was totally right. I'm a person whose experience with investing was limited to a diversified portfolio of 9 different index funds. I never lost any money over the years, but I never beat the market, either. Suddenly, at 39, I was disabled by disease during my prime working years. I realized I have to step up my game and take on a little more risk for more return if I want to remain financially independent. I had to rethink my whole investment strategy because my life circumstances had suddenly and drastically changed. This book taught me the basics of how to make intelligent choices about taking those financial risks. I now feel comfortable reading stock charts and using that information to time my buys and sells and set stops. I feel comfortable stretching my wings a little and buying ETFs and individual stocks, rather than index funds. I even know the proper way to short a stock. Can I pick the next Google out of all the stocks available on the NYSE? Hell, no - even though that's what this book claims to be able to teach you how to do. Look, you can't expect to go from absolute beginner to superstar trader overnight. What I can do, though, is confidently analyze any tip or suggestion that comes my way and feel reasonably comfortable with my decisions. In other words, this book has given me the necessary tools to take the first step into the world of short-term trading, rather than long-term investing. Wish me luck!
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on May 2, 2015
Terrific book for finding stocks to hold for a few weeks to a few months or more. I like Stans writing style and his technical analysis method that keep things simple yet effective. Some of the charts in the book are a little hard to read but other than that... No complaints! This is a classic for a reason. Great stuff!
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on August 29, 2015
this is a good strategy. if you have never read a book on how to buy stocks or looking for a new strategy I recommend this book. it is well written and shows you how to employ one of the best strategies I know of. This book is easy to understand, explains a wonderful strategy, it will teach you what you this simple but good strategy. A true story about the author, after a decade of rising and falling markets (1970's) Stan was interviewed on TV about the August 22, 1982 action in the market and called the bottom of the market that very day and that we would experience one of the best bull markets ever. The gentleman was spot on. 8/22/1982 was the bottom of a bear market and the start of the greatest bull market to ever have occurred to that that date. The 1982 bull market that lasted for years. Of course there have been other great bull markets since, This was the very first book I gave my sons to read about the stock market.
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on April 15, 2012
Do not let the BS title fool you, this is a trading classic. Weinstein discusses the 4 stages that stocks will go through (Stage Analysis), so in this sense, it is not written for buy and hold investors. He explains in detail what to look for in each stage and a strategy to trade in each scenario. He combines this analysis with the importance of the 10 week and 30 week moving averages as well as the concept of relative strength. All of these ideas are as relevant today as when this book was written.

This is not a technical analysis textbook. It's a succinct book that is geared towards those that don't or cannot trade daily but would like to implement a system to be able to recognize when a trend may begin, be able to hold through and see the signs when a trend is weakening/ending and eventually changing to exit.

The only weakness of the book is the lack of focus on the importance of risk management. There are numerous examples demonstrating his methodology in action, but in trading, no system is fool proof and failed moves occur. For example, he could have had an example of a failed Stage 1 breakout and how to recognize and limit losses in such a scenario. In the end, without a system to limit losses, it doesn't matter how good your system is.

Even considering this weakness, i cannot recommend a better book to start with to prepare an individual to trade successfully.
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on October 23, 2012
When I first started working as a stock broker/CTA in Beverly Hills in the early 1980s, my mentor was an avid reader of Stan Weinstein's Professional Tape Reader. I was also a fan, but in the ensuing 8 years, Weinstein's message became just one of many voices crying in the wilderness. On re-reading Secrets for Profiting in Bull and Bear Markets, I see the timeless value of Weinstein's advice. Sometimes, in our rush to learn new things, we are not ready for some really good advice because we still need to keep looking for a few years. I have made that journey and now can look upon the book with the eyes of experience. I like it much better now than I did when I was first starting out.
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on March 26, 2012
If you think a 24 year old book cannot help you in today's market, think again. Stan Weinstein's information is as relevant today as it was 20 years ago as it will be 20 years from now. His straight forward approach to the market is a must follow for anyone managing their own investments. This book is not a short term get rich quick trading book. Stan's approach is designed for the long term investor. If you follow his advise you will get in the early stages of a new bull market and will know when to get out at the earliest part of the next bear market. If you still doubt this book can help you then I would ask you to look at a long term chart of the DOW, Years 61&62 . The DOW put in a bear market top then a hard sell off. This example of a bear market top can be found in chapter 8. Now look at a chart of the Dow for 2011. The top and sell off is almost identical to that form 50 years ago. And if that is not eerie enough for you, look at the bull market rally that followed in 1962 and compared this to the currently rally that began Oct. 2011 again the movement is near identical. Price action patterns do repeat and examples of actual market tops and bottoms are through out this book. I manage my own investments and this book along with those of William O'Neil ( founder of Investor's Business Daily) form the basis for my successful Investing.

Dennis S
Orlando, Fl
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on January 14, 2014
I really enjoyed this book. It is a great introduction to technical analysis. As you read this book and then start reading other things on the web and elsewhere, you soon realize that understanding and playing the market is a mammoth task that you will probably never understand all the aspects of. But Weinstein gives you a good basic gameplan and presents a "how to" on analyzing stocks both on the long side (buying) and short side (selling --- including selling stocks you do not own). If you are new to technical analysis, you will probably get tons from this book as I did. The book is dated --- about 25 years old. And for that reason there are some newer technical tools that folks use to analyze stocks. But as a starting point, I think this book is phenomenal. It reads well and in a few places it gives you spelt out rules that you should only violate at your own peril. I think that's what I liked the most --- he tells you what you should NEVER do. Even if you choose to ignore his advice when you get advanced, it is a great starting point until that time happens.
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on March 3, 2015
Still one of the best investment/trading books out there. Not steeped in academic theorizing, but in what actually works and the way stocks really move. Consequently, Stan Weinstein is a hero. He didn't need to write another book, having said it all right here.

Love this and anything by William J. O'Neil, Jack Schwager, Nicolas Darvas, Jesse Livermore, and Mark Minervini. But if all you had was this book, you could do well.
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