Point and Figure Charting: The Essential Application for Forecasting and Tracking Market Prices
The Point and Figure method of investment analysis is not new by any stretch of the imagination. While little has changed in terms of its basic principles over the years, there are new and interesting ways of implementing this proven method—especially with the help of today's rapidly evolving computing technology.Nobody understands this better than top Point and Figure Charting expert Tom Dorsey. Now, in the fourth edition ofPoint and Figure Charting, he returns to explain how traders and investors alike can use this classic technique—borne out of the irrefutable law of supply and demand—to identify and capitalize on market trends.Within these pages, Dorsey offers valuable insights on establishing an "operating system" mindset—a belief in your method of analysis that you understand and embrace wholeheartedly—using the Point and Figure method. This will help carry you through your investment endeavors. Along the way, he provides step-by-step guidance on how to create, maintain, and interpret your own Point and Figure charts with regard to markets, sectors, and individual securities. He also explains how to use these findings to effectively track and forecast market prices and develop an overall investment strategy.Divided into three comprehensive parts,Point and Figure Charting, Fourth Editionprovides you with the insights to excel in many different markets, and under various conditions. Through a thorough discussion of everything from recognizing reliable chart patterns and the adaptability of Relative Strength (RS) to primary/secondary market indicators and using options as a risk management tool, this practical guide will allow you to make more of your time in today's markets by answering such important questions as: Is the market in a mode to support higher prices? Did you search the right sector? Which asset classes are in favor? And what countries are the best places to invest?This book also comes with a companion website. It brings the concepts covered to life with additional examples and discussions, as well as exercises and tests to refine your skills. In using this interactive resource, you will have an important technical analysis tool to enhance your investments and portfolio performance.Many people have forgotten or ignored the fact that having a logical, organized, well-founded method of investing in the markets is the only way to achieve success. So if you're looking for an investment approach that has stood the test of time—during both bull and bear markets—and is easy enough to learn, whether you're eighteen or eighty, thenPoint and Figure Charting, Fourth Editionis the book for you.