Tape Reading and Market Tactics

Submitted by Book Library on 31 July, 2010 - 23:23

The Three Steps to Successful Stock Trading. New 1970 edition of the classic about the mechanics of stock trading with a recent foreword by the author. Historically, the best selling book on the subject, Neill tells not only how to read the tape, but also how to reason out what's happening behind the scenes. Superb chapters on human nature and speculation. Figures and charts. Originally published in 1931.

Tape Reading and Market Tactics has given a real inside of market psychology, tradingtechniques. Written in a very easy, and digestible manner. Author's sharp observation , and the charting techiques is worth learning for all the investors.

Positive Review of Book

If you want to know how to spot short-term accumulation or distribution, how to read volume and price change, this is THE book to read. It focuses on just that topic and is very clear.

It's not really "tape reading" in the sense that he tells you how to spot trends by reading ticker tapes. What he did was write down all the sales and the volume during the day for certain stocks and made a graph of the stock at each sale. Day traders or short term traders may find this book very useful.

Negative Review of Book

I read the reviews before purchasing and they were outstanding and was shocked when the book arrived because the publishing date was well disguised as this book was written in the 1930's. The forward was updated twice - the last was in the early 1970's. If one would like a nostalgia look at tape reading this book is for you.

Author Biography

Humphrey Neill, the celebrated sage of Saxtons River, Vermont, has inspired generations of contrarians. His advice to investors: Beware of the crowd, don't be swept up by euphoria or down by despair. When everyone thinks alike, watch out. They're probably wrong. Neill's sharp thinking and homespun aphorisms are no less appropriate today than when he began to formulate the theory of contrary opinion three quarters of a century ago. In fact, Neill's ideas formed the basis for the Contra Fund that Fidelity Management established in 1967 and still manages today.

Table of Contents

      Part one: stock speculation
  1. stock speculation
    • Part two: tape reading
  2. the ticker tape
  3. the principles of tape reading
  4. increasing volume during advance
  5. turning points on heavy volume
  6. turning points on light volume
  7. various types of top action
  8. the tape story of lowe's
  9. steel, the market leader
  10. tips are dangerous
  11. some important observations on volume
  12. the effent of news on market action
  13. resistances
  14. suggestions to speculators
  15. the rise and fall of steel during a normal bull movement

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