E-Book Overview
This is a reasonable introduction that covers all the important things. The focus is (as it should be) on money management, and very simple (but effective) technical analysis. Support & Resistance, trendlines, and moving averages are the primary mechanisms used. I thought it was a little confused, at parts, and found myself comparing it to John Murphy's Visual Investor. They both seem to have a similar target audience (people new to technical analysis). On the one hand, The Magee book covers money management which Murphy seems to do a poor job covering in his books (Technical Analysis of the Financial Markets has a bit on it, but nothing extensive -- none of his other books mention it at all), but the Visual Investor gets the nod for just being a better written effort.
If this is your first book on TA, you should be fine, although I think Visual Investor covers the topic better. If you are already familiar with the basics, I would pass this one over for a more advanced book.
E-Book Content
THE INTRODUCTION TO THE
MAGEE SYSTEM OF TECHNICAL
A N A LY S I S
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THE INTRODUCTION TO THE
MAGEE SYSTEM OF TECHNICAL
A N A LY S I S JOHN MAGEE in a new edition by
W.H.C. Bassetti
St. Lucie Press Boca Raton London New York Washington, D.C.
MACOM A American Management Association New York • Atlanta • Boston • Kansas City • San Francisco Washington, D.C. • Brussels • Mexico City • Tokyo • Toronto
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Library of Congress Cataloging-in-Publication Data Catalog record is available from the Library of Congress
This book contains information obtained from authentic and highly regarded sources. Reprinted material is quoted with permission, and sources are indicated. A wide variety of references are listed. Reasonable efforts have been made to publish reliable data and information, but the author and the publisher cannot assume responsibility for the validity of all materials or for the consequences of their use. Neither this book nor any part may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, microfilming, and recording, or by any information storage or retrieval system, without prior permission in writing from the publisher. The consent of CRC Press LLC does not extend to copying for general distribution, for promotion, for creating new works, or for resale. Specific permission must be obtained in writing from CRC Press LLC for such copying. Direct all inquiries to CRC Press LLC, 2000 N.W. Corporate Blvd., Boca Raton, Florida 33431. Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation, without intent to infringe.
Visit the CRC Press Web site at www.crcpress.com © 2002 by CRC Press LLC St. Lucie Press is an imprint of CRC Press LLC No claim to original U.S. Government works International Standard Book Number 1-57444-302-X Printed in the United States of America 1 2 3 4 5 6 7 8 9 0 Printed on acid-free paper
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AUTHORS John Magee (1901–1987), a graduate of MIT and a leading expert on technical analysis, was the founder of the well-known charting and advisory firm of John Magee, Inc. Magee pioneered the concept of analyzing the stock market from an engineering point of view and became known as the Father of Technical Analysis. With Robert Edwards, he coauthored the best selling book, Technical Analysis of Stock Trends. Now in its 8th edition, it is considered the definitive work in the field and has more than one million copies in print. W. H. C. Bassetti, editor and co-author of this book and the 8th edi