Most helpful critical review
12 of 13 people found the following review helpful
Pedantic and Dry, Mostly Impractical.
on 20 February 2010
I bought this book based on some of the reviews here on Amazon. The book is very thoroughly researched, with many citations and scholarly references, but it's precisely this, which is problematic. The book seems to be written for academics, by academics. While it covers a broad range of technical analysis topics, as it is strongly focused on the literature, and on various measurement criteria validating or refuting the literature, it offers little to someone who is dealing with the dynamics of actual markets, and the price and volume movements of stocks. I don't mean to suggest the book is without value; it's just that you can read an entire passage on a topic, and realize that it could have been digested down to a few lines - the remainder is superfluous (from the perspective of one seeking 'practical knowledge' on technical analysis). I think there are general guides to technical analysis which are significantly better, and more geared to active investors, namely Edwards and MacGee's Technical Analysis of Stock Trends, and, Murphy's Technical Analysis of the Financial Markets. Both of these texts pre-date this text, and are established standards on this subject matter.