{"title":"Volume 3 Articles","description":"\u003cp\u003eBrowse Volume 3 articles by issue:\u003c\/p\u003e\u003cdiv style=\"display:flex;flex-wrap:wrap;gap:12px;\"\u003e\n\u003ca href=\"\/collections\/volume-3-articles\/issue-01?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 1 January\/February 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-02?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 2 March\/April 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-03?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 3 May\/June 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-04?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 4 July\/August 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-05?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 5 September\/October 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-06?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 6 November 1985\u003c\/a\u003e\u003ca href=\"\/collections\/volume-3-articles\/issue-07?sort_by=title-ascending#ProductGridContainer\" style=\"margin-right:16px;\"\u003eChapter 7 December 1985\u003c\/a\u003e\n\u003c\/div\u003e\n\n\n\n\n\n\n","products":[{"product_id":"v03-c01-chart-pdf","title":"V.3:1 (13-18): Chart Congestion Analysis by Holliston Hill","description":"Chart Congestion Analysis\nby Holliston Hill\u003cbr\u003e\u003cbr\u003eCongestion areas appear in all markets whether it be gold, soybeans, IBM, or the Dow Jones Industrial\nAverage. Being able to recognize the different types of congestion areas and knowing what they will lead\nto, can help the investor reap great profits.\u003cbr\u003e\u003cbr\u003eA congestion area is a price level in which neither the bulls or bears are in complete control.\nAccumulation and distribution are other names for congestion areas. The market cannot make up its mind\nin which direction it wants to go. Congestion areas are pauses in the market action; many traders step\naside to see what will happen next. During a congestion area the market fluctuates within a certain price\nrange. These areas usually signal continuation or reversal in the previous market direction. Congestion\narea analysis can be applied to stocks or commodities or to any time frame whether it be a five minute\nchart, hourly chart, daily chart weekly or monthly chart. Because of the significance that congestion areas\nhave in the movement of the market, it is important that the astute technician be aware of when they\noccur and what they lead to. I will define the different types of congestion areas and what each area\nsignals.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133758894449,"sku":"\\V03\\C01\\CHART.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_60325aac-1224-49d9-8dab-b8f3ce6e310b.jpg?v=1739651424"},{"product_id":"v03-c01-day-pdf","title":"V.3:1 (28-29): Day Trading With Stochastics by John F. Kepka","description":"Day Trading With Stochastics\nby John F. Kepka\u003cbr\u003e\u003cbr\u003eI have been using the Stochastics oscillator \"K\" and \"%D\" for well over a year (RE: May and Sep 1984\nissues of Technical Analysis of Stocks \u0026amp; Commodities magazine). I use Stochastics, (in conjunction with\nother indicators), with futures intraday data from half-hourly down to 1 minute bar charts. Initially, I tried\nto use the Stochastics indicator as outlined in Technical Analysis of Stocks \u0026amp; Commodities, but I quickly\nlearned that the \"clearly illustrated\" patterns were largely non-existent in real time intraday trading. By\nfollowing the general rules, the \"Set-up\" rapidly became expensive. Even \"shooting from the hip\" was\nbetter.\u003cbr\u003e\u003cbr\u003eAfter considerable experimentation, I concluded that I definitely preferred the regular \"K\" and \"%D\" and\nnot the slow version for both daily and intraday analysis. I like the \"K\" values for a quick indications of\noverbought and oversold. I have explored different time periods for the oscillator as well as different time\nperiods for price bars. For the Standard and Poors (S\u0026amp;P) 500, I currently trade 5-minute time bars with a\n10-period stochastics oscillator. Unless the market is moving in short cycles with greater amplitude, the\nstandard 5-period stochastics is too \"whippy\" on intraday data. This is a recent event stemming from the\nfact that larger institutional participation has reduced some of the past futures market volatility.\u003cbr\u003e\u003cbr\u003eChart 1 illustrates a 5-minute bar chart, using the Intra-Day Analyst (IDA) computer software, viewing\nthe September S\u0026amp;P 500 futures beginning around 1:00 PM on June 28, 1984 and continuing through\nJune 29. Table 1 (IDA format) provides actual times, prices, and oscillator values necessary to resolve the\npatterns. Chart 2 is simply an extension of Chart 1. The \"K\" line is drawn as solid and \"%D\" line is\ndashed. Immediately you can see that these lines are not nearly as smooth nor as crisp as those illustrated\non page 99-100 in the May 1984 issue of Technical Analysis of Stocks \u0026amp; Commodities magazine.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133758927217,"sku":"\\V03\\C01\\DAY.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_fa1af9fd-1dc6-41a7-971e-78fb270cfb1c.jpg?v=1739651426"},{"product_id":"v03-c01-prob-pdf","title":"V.3:1 (22-25): Probability of Investment Ruin by Sherwin Kalt","description":"Probability of Investment Ruin\nby Sherwin Kalt\u003cbr\u003e\u003cbr\u003eWhen a client opens a managed account with as commodity trading advisor, the general practice is to\nspecify a percentage loss at which the account will be closed. The natural question then arises as to what\nare the chances that this will happen within a given time period, for example, six months or a year. Given\ncertain empirically determined characteristics of the trading system, this paper provides a method for\nsolving this problem directly. The method can also be used in analyzing investments other than\ncommodity managed accounts. It can be used in any case where the assumptions made are found\napplicable.\u003cbr\u003e\u003cbr\u003eDecisions are presently being made by prospective investors without explicit knowledge as to the risk of\nruin (i.e. account closing) that is being taken. Parameters, such as the Sharpe ratio, or the standard\ndeviation of the rate of return, are only of use in ranking trading systems in some general order. Lack of\nknowledge of the risk being taken can lead to disillusionment on the part of the investor. In the long term\nthe situation is very harmful to the industry. It is hoped that this paper will increase the capability to\nquantify the characteristics of trading systems being analyzed. The result will be more informed decisions\non the part of the investment community.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133758959985,"sku":"\\V03\\C01\\PROB.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_081d24b4-db09-486a-8bba-910bb7184909.jpg?v=1739651429"},{"product_id":"v03-c01-rev-pdf","title":"V.3:1 (37-42): Reviews: EASI\/ARIMA","description":"SOFTWARE REVIEW:\nby John F. Kepka\u003cbr\u003e\u003cbr\u003eEASI\/ARIMA THE 2% SOLUTION\u003cbr\u003e\u003cbr\u003eThe Winchendon Group, Inc.\u003cbr\u003e\u003cbr\u003e3907 Lakota Road\u003cbr\u003e\u003cbr\u003eP.O. Box 10339\u003cbr\u003e\u003cbr\u003eAlexandria, VA 22310\u003cbr\u003e\u003cbr\u003e(703) 960-2587\u003cbr\u003e\u003cbr\u003ePRICE: $350.00 ($50.00 discount for prepaid.)\u003cbr\u003e\u003cbr\u003eSummary:\u003cbr\u003e\u003cbr\u003eEase of Use: A\u003cbr\u003e\u003cbr\u003eDocumentation: A\u003cbr\u003e\u003cbr\u003eReliability: A\u003cbr\u003e\u003cbr\u003eError Handling: B+\u003cbr\u003e\u003cbr\u003eVendor Support: A\u003cbr\u003e\u003cbr\u003eHardware Requirements:\u003cbr\u003e\u003cbr\u003eApple II or Compatible\u003cbr\u003e\u003cbr\u003e48K minimum memory\u003cbr\u003e\u003cbr\u003eTwo Disk Drives\u003cbr\u003e\u003cbr\u003ePrinter (optional but recommended)\u003cbr\u003e\u003cbr\u003eEASI\/ARIMA - The 2% Solution is as the name implies is easy to use, and it does, in fact, provide\nforecasts within a mean error of 2%. Many of the price forecasts I ran were less than 1% error. In a\nnutshell, my overall impression is that the package is excellent and represents good value in its effortless\nuse to provide meaningful forecasts from a broad spectrum of readily available database formats.\nAdditionally, the ARIMA technique is not limited to price forecasting and may be used to forecast sales,\nchemical viscosities, airline miles flown, or any other time series.\u003cbr\u003e\u003cbr\u003eI had the opportunity to test the latest Apple Version 3.0. (A similar software version is available for the\nIBM PC. This is furnished in compiled BASIC which runs two to three times faster than the Apple.)\nFrom the moment I opened the package, I underwent an enjoyable experience. The Apple EASI\/ARIMA\ncomes with a manual, a primer, a utility disk, and program disk. Both diskettes are copyable so backup\ncopies are never a problem. The primer is specific to the user's requirements and is intended to bridge the\ngap between the computer output and its usage. In this case the futures version provides examples of the\noutput and some pointers on how the author would use the forecasts in real life situations by \"walking\nthrough\" three examples of DMarks, Gold, and Wheat Futures. Sample databases are supplied so that the\nmaterial in the primer can be duplicated. The primer was written by a man in tune to speculative markets\nand provides sufficient working knowledge without the necessity of a sophisticated statistical background.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133758992753,"sku":"\\V03\\C01\\REV.PDF","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_5dd9e864-70a6-4c2d-9069-f60c08aa5c9e.jpg?v=1739651431"},{"product_id":"v03-c01-sell-pdf","title":"V.3:1 (19-21): Selling Stock With Investor Relations by Carolyn Kott Washburne","description":"Selling Stock With Investor Relations\nby Carolyn Kott Washburne\u003cbr\u003e\u003cbr\u003eA veteran stock broker took aside a new trainee to give him some advice. \"There is an old saying in\nthis business,\" said the veteran. \"When the president of a company wants to buy you lunch, the stock is\noverpriced. If he refuses to pick up the tab, buy the stock immediately.\"\u003cbr\u003e\u003cbr\u003eHe paused and smiled at the puzzled trainee. \"What that means is that by the time a company goes on the\nroad to pitch its stock, there isn't much of a story there for investors. Wait until things get better.\"\u003cbr\u003e\u003cbr\u003eThe veteran's advice gives a clue to the nature of investor relations in U.S. businesses today. The\nrelationships that publicly-held companies maintain with the investment community and with individual\nshareholders play an important role in how their stocks will be rated and traded. Similar to public\nrelations, yet much more sophisticated, a good investor-relations program can have a significant impact\non a company's image, stock price and ability to raise operating capital.\u003cbr\u003e\u003cbr\u003eEach company's approach to investor relations varies, depending on its size and what it produces, but\nthere are some common elements. The person responsible for investor relations in a small company is\nusually the vice president of finance, the treasurer, or public relations director; a larger company may\nhave a vice president or manager of investor relations who supervises a small staff. Sometimes this staff\nis temporarily augmented during the proxy solicitation period prior to the annual meeting.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759025521,"sku":"\\V03\\C01\\SELL.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_452f4594-b9ad-4056-ba78-b34c33904c4e.jpg?v=1739651433"},{"product_id":"v03-c01-stoc-pdf","title":"V.3:1 (32-36): Stock Market Double-Header? by Bill Dunbar","description":"Stock Market Double-Header?\nby Bill Dunbar\u003cbr\u003e\u003cbr\u003eOn the long side it's easy to make money in stocks at the beginning of a well-defined bull market. If\nyou pick your issues by throwing darts or consulting your astrologer, or even listening to your investment\nadvisor, you can hardly go wrong. The chances are on your side. But it's possible to improve your\nperformance if you're in the right industry group. Usually all groups rise during the first few months of\nthe bull market, but then some go on to higher ground, some start pitching about and some keel over and\nslide down the river. If you pick your issues from industry groups that are perceived as having the most\nfavorable business climate, then your chances are enhanced. At least that's the conventional logic and I\nhave an idea how I could check it against reality but that will take some time. For the present, if you\naccept it as a true truism, then this article may make some sense. If not, it won't.\u003cbr\u003e\u003cbr\u003eThe Non-Carryover Hypothesis\u003cbr\u003e\u003cbr\u003eThe following quote was taken from the Wall Street Journal (ref. 1) soon after August 1, 1984. \"We don't\nbelieve it's the beginning of a bull market,\" says Joseph H. Barthel, director of technical strategy for\nButcher and Singer, Inc. He cautions against believing that the August 1982 bull market is being\nduplicated: \"One of the ear marks of any bull market beginning is a change of market leadership.\" He\nsays the 1978-80 bull market was led by oil stocks, while consumer-oriented stocks took control in late\n1982 and into 1983. \"The same (consumer-oriented) stocks are doing it again, so there is no change in\nleadership,\" Mr. Barthel concludes.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759058289,"sku":"\\V03\\C01\\STOC.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_5d775389-42d2-4610-9ae0-aa498fd36e34.jpg?v=1739651436"},{"product_id":"v03-c01-thef-pdf","title":"V.3:1 (26-27): Theft? Commodity Floor Brokers by Allen D. Hanson","description":"Theft? Commodity Floor Brokers\nby Allen D. Hanson\u003cbr\u003e\u003cbr\u003eQuestionable trading practices in the Securities business became very evident to me during my years as\nproduct manager for a major corporation and later as a licensed floor broker.\u003cbr\u003e\u003cbr\u003eIn those days, I owned individual seats on two of the nation's registered stock and commodity exchanges.\nI routinely carried commodity positions so large that they required daily reporting to the CEA\n(Commodities Exchange Authority), the governing body at that time. I also acted as an independent floor\nbroker for a major brokerage house and other firms, always doing any personal trading and\norder-handling concurrently. As a floor broker and seat owner, I also represented this brokerage in their\ndaily settlement with the clearing house at the exchange during the 1970's. I handled commodity delivery,\nclearing house reporting, pit trading, cash transfers, error accounting, spreading, house accounts,\ncustomer orders, margin account problems, exchange regulations, and I often opened and closed pit\ntrading.\u003cbr\u003e\u003cbr\u003eWhen I left the exchanges, I left \"clean\", but I think I know and understand every trick or procedure ever\ninvented to buy, sell, invest, deploy or even steal funds for gain, and do it in such a way that no one but\nan expert really sees what is going on.\u003cbr\u003e\u003cbr\u003eThe commodity futures trading industry is expanding rapidly, with increased trading volume year after\nyear. If the present trend continues, there will be more than 157 million futures contracts traded during\n1984, for another all-time high. Unfortunately, as the trading volume grows, so does the amount of\n\"questionable practices\" involved in some of these trades. Participation in fraud by some of the insiders\n(floor brokers) is broad and flagrant, and what's worse, the people involved are not likely to talk about\ntheir activities even after they leave the commodities business. In the stock and commodity industry a\n\"convicted player\" is totally out of the game; forever. The \"penalty box\" in commodities is permanent and\nalmost irrevocable.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759091057,"sku":"\\V03\\C01\\THEF.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_bb474a66-d61f-417b-a02b-8457bb72ac14.jpg?v=1739651438"},{"product_id":"v03-c02-fibb-pdf","title":"V.3:2 (77-78): Fibonacci Based Forecasts by Tucker J. Emmett","description":"Fibonacci Based Forecasts\nby Tucker J. Emmett\u003cbr\u003e\u003cbr\u003eIn previous Technical Analysis of Stocks \u0026amp; Commodities magazine articles about Fibonacci Forecasting I\nhave dealt at length with the proper application of the Fibonacci mathematical series to the futures\nmarkets. This simple series (1, 2, 3, 5, 8, 13, 21, 35, 55, 89, 144,...etc.) can quite accurately and\nadequately be used to forecast trends in the futures markets with amazing consistency.\u003cbr\u003e\u003cbr\u003eWith this article, I shall deal specifically with only one futures marketthe Treasury Bondsin order to\ndelve precisely in detail into a given market than previous articles have permitted, and in order to\nelaborate thoroughly upon ideas only briefly hit upon in prior articles.\u003cbr\u003e\u003cbr\u003eLet me say that first and foremost I am a broker. I handle individual and managed accounts in the futures\nmarkets, and have been doing so for twelve years as a partner of Anspacher an Associates . It is therefore\nextremely necessary that any technical analysis that I use bring fruit in practical results, and that I have a\nprecise way to estimate the risk and proper entry points for any given position that I put on in the futures\nmarkets. The proper use of the Fibonacci approach to the markets that I have developed over the past ten\nyears affords me this.\u003cbr\u003e\u003cbr\u003eAlthough many traders do not realize it, R. N. Elliott was probably the first to use the Fibonacci series\nand its inter-relationships to trade with, his application being predominantly to the stock market. My own\napplication of this series has been exclusively to the futures markets, because of the higher yield\nobtainable when one is correct in these markets due to their increased volatility. In doing so, I have\ncontinually attempted to aim towards simplification, so that I can update and do rapid work on each of\nthe 25 or so futures markets that my customers like to trade, without sacrificing accuracy.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759123825,"sku":"\\V03\\C02\\FIBB.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_44608dc1-5a47-4480-90d4-2dd7a63b559e.jpg?v=1739651440"},{"product_id":"v03-c02-howg-pdf","title":"V.3:2 (59-63): How Good is The Dow Theory? PART I by Bill Dunbar","description":"How Good is The Dow Theory?\nPART I\nby Bill Dunbar\u003cbr\u003e\u003cbr\u003eAn excellent article on the Dow Theory appeared in the December 1984 issue of this magazine, written\nby Timothy A. Maguire. The present article may be looked on as an extension of that one but since\nMaguire and I are two different people, you can expect from me a different treatment and a different\nviewpoint.\u003cbr\u003e\u003cbr\u003eThe whole Dow Theory idea started from a series of editorials appearing during the years 1900-1902 in\nthe Wall Street Journal, written by Charles H. Dow, one of the founders of the Dow Jones Company and\nthe first editor of the Journal. His observations were based on the market averages that he started in 1884\nwith eleven stocks, which he considered to be representative of the equities world of that era.\u003cbr\u003e\u003cbr\u003eThe list included nine railroads, the real blue chips at that time and a very important segment of the\nmarket. In 1897 the list was expanded and split into 12 Industrials and 20 railroads, and in 1928 the\nIndustrials were extended to include 30, the number maintained to the present. In 1970 the Rails became\nthe Transportation average with the inclusion of other types of carriers.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759156593,"sku":"\\V03\\C02\\HOWG.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_829e7170-4cfb-4e80-9315-fea6c3e27852.jpg?v=1739651443"},{"product_id":"v03-c02-lead-pdf","title":"V.3:2 (52-56): LEADING INDICATORS FROM FOURIER SPECTRAL ANALYSIS by William T. Taylor","description":"LEADING INDICATORS FROM FOURIER\nSPECTRAL ANALYSIS\nby William T. Taylor\u003cbr\u003e\u003cbr\u003eThe purpose of this article is to expand upon my previous work July 1984 Technical Analysis of Stocks\n\u0026amp; Commodities magazine) into an area not normally discussed as part of Spectral Analysis, that is, the\ndetection and measurement of phase (lead or lag) relationships of cyclical components from two or more\ntime series. In certain cases where there are dominant cyclical components of the same length in two or\nmore time series, it can be important to know if there is a lead or lag relationship on which to anticipate\nchanges in direction of one price based on the knowledge of, for example, the leading nature of another\nprice.\u003cbr\u003e\u003cbr\u003eI will begin with a discussion of the basic nature of cycles followed by a brief explanation of Spectral\nAnalysis. Emphasis is on how to interpret the results rather than the mathematics behind the procedure.\nThis topic is discussed at some length in the earlier article (mentioned above) and the reader is invited to\nlook there first for a better understanding of how this analytical tool is put to use.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759189361,"sku":"\\V03\\C02\\LEAD.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e403ede4-826d-476f-a385-7e2dfc1499d7.jpg?v=1739651445"},{"product_id":"v03-c02-malf-pdf","title":"V.3:2 (81-82): Malfunctioning Computers: Who Pays? by Clifford Sherry, Ph. D.","description":"Malfunctioning Computers: Who Pays?\nby Clifford Sherry, Ph. D.\u003cbr\u003e\u003cbr\u003eYou have just decided to purchase a new computer, peripheral (disc drive, printer, etc.) or software\npackage (program). How should you proceed? First, you should stop and do some careful thinking and\npossibly some research. You need to decide exactly what you want your hardware (computer, peripheral)\nor software to do. For example, with many small computers, time may be a factor. Two computers can\nperform the same function, but one takes seconds, while the other takes minutes. If you require the task to\nbe performed in seconds, then the second computer, even though it can perform the task, may not be for\nyou. It is a good idea to make a list of your wants and needs and then go to one or more computer stores\nor manufacturers and do some comparative shopping. Second, when you decide to make your purchase,\nbe sure to tell the salesman exactly what you want and need and what you can afford to spend and allow\nhim to suggest an appropriate system.\u003cbr\u003e\u003cbr\u003eUniform Commercial Code\u003cbr\u003e\u003cbr\u003eOnce you have made your purchase, hopefully everything will go well and you will be completely\nsatisfied with your purchase. But, suppose this does not occur. What if your computer or software does\nnot perform as expected or at all? You will probably call the computer store or manufacturer. But what if\nyou follow their instructions to the letter and it still does not work? What do you do? First, you must\ndistinguish between hardware, which is covered by the Uniform Commercial Code and software, which\nis not. Second, you must determine what your rights are and how to proceed.\u003cbr\u003e\u003cbr\u003eComputers and peripherals, as well as most other manufactured goods are covered by the Uniform\nCommercial Code, which is a series of commercial law statutes. Outright sales, including those involving\ntime payments, are usually covered. A sales is defined as \"the passing of title from the seller to the buyer\nfor a price\". Leases and leases with the option to buy are less clear and probably need to be decided in the\ncourts.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759222129,"sku":"\\V03\\C02\\MALF.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_84c71986-c185-45a8-9dd6-14e24003647d.jpg?v=1739651448"},{"product_id":"v03-c02-med-pdf","title":"V.3:2 (64-65): Median Line Market Analysis by Thomas E. French","description":"Median Line Market Analysis\nby Thomas E. French\u003cbr\u003e\u003cbr\u003eThe Median Line (ML) method of market analysis was first developed by Professor Alan Hall Andrews,\na Massachusetts Institute of Technology (MIT) engineering graduate. The Median Line technique of\ngeometric technical analysis is also referred to by some as the Andrews line method. The purpose of a\nMedian Line is to predict a price point where the market will reverse.\u003cbr\u003e\u003cbr\u003eThe basic concept behind the method is really simplicity itself, that of action and reaction. Andrews, who\nI have worked closely with over the past couple of years studying and applying his methods, credits his\nlate friend Roger W. Babson (early 1930's) with helping him develop this technique. Babson applied Sir\nIsaac Newton's law of physics, that actions and reactions are equal and opposite, to market analysis. From\nthese conceptual beginnings Andrews evolved his own method of market analysis.\u003cbr\u003e\u003cbr\u003eThe cornerstone of this entire approach is the Median Line (ML). Before exploring this further we should\ndefine median. The dictionary states median means in the middle or a line that divides into two equal\nparts. Charts 1, 2, and 3 graphically depict this concept. The dashed line represents a ML intersecting a\nstraight line at the point denoted by a circle. Note that regardless of the of the straight line, the ML\nintercept represents a point where there exists an equal amount above as well as below the point of\nintersection. This is indicated in Chart 1 where AB = BC, in Chart 2 where DE = EF, and in Chart 3\nwhere GH = HI. The point to note in each case is that the ML actually bisects the straight line.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759254897,"sku":"\\V03\\C02\\MED.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e5d10df5-7429-4fa6-af6f-d987f48e7f87.jpg?v=1739651450"},{"product_id":"v03-c02-nov-pdf","title":"V.3:2 (66-68): Novice Speculator Trading Plan by John Sweeney","description":"Novice Speculator Trading Plan\nby John Sweeney\u003cbr\u003e\u003cbr\u003eWhen all the waiting is done and a new trade is signaled I can at last, get to work. However, it's not to\nburn up the wires to Chicago it's paperwork that needs to be done, before the job even starts!\u003cbr\u003e\u003cbr\u003eActually, if things are working right, I'll be making out my trading plan a week to two weeks ahead of the\ntrade. Then it gets a yellow paper clip and goes into my pile of daily logs awaiting executionright next\nto the paper trades (white paper clips) and the trades under way already (red). Then, as I update the daily\naction, it's a simple matter to check the plan to see if things are unfolding as foreseenor not!\u003cbr\u003e\u003cbr\u003eWhy make up the trading plan in advance? Why even make up a trading plan? Answering the second\nquestion should answer both questions.\u003cbr\u003e\u003cbr\u003eI've seen trading plans seven lines long and I've seen them six pages long, but the people who use them\nknow them to be essential for two things: Discipline and Framework. Discipline is needed to make\nthem, refer to them, and follow them. Just as important, your plan puts a framework on a topsy-turvy\nworld, a world where you sometimes wonder if up is still UP or not. The framework is your version of\nwhat's happening and what indicators you are following to prove it.\u003cbr\u003e\u003cbr\u003eA lot of folks aren't inclined to plan anyway. They'll say, \"I've got a hunch,\" or \"The news is bullish,\" or\n\"I've got to get in on this move!\". Then, they'll think \"You can't predict the future anyway, so why waste\ntime and pretend by making plans?\". Nevertheless, it's essential to make an estimate of what is to happen.\nThat estimate is your strong foothold in the constant sea of price changes and opinions. If as time passes,\nyour estimates are (let's hope) right, then you gain more and more confidence that you are in tune with the\nmarkets and with the majority of decisions being made at the margin. You can then trade as if you knew\nwhat is to happen because, should something happen that you did not foresee, you know by the variance\nfrom your expectations that you are out of touch.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759287665,"sku":"\\V03\\C02\\NOV.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_b66a9c7f-cc18-4a70-b5ad-e10ac16dd85c.jpg?v=1739651453"},{"product_id":"v03-c02-soft-pdf","title":"V.3:2 (87-89): Software Review by Herbert R. Sorock","description":"Software Review\nby Herbert R. Sorock\u003cbr\u003e\u003cbr\u003eCHART TRADER PLUS \u003cbr\u003e\u003cbr\u003eInvestor's Toolkit, Ltd.\u003cbr\u003e\u003cbr\u003e7441 W Archer Avenue\u003cbr\u003e\u003cbr\u003eSummit, IL 60501\u003cbr\u003e\u003cbr\u003e(312) 496-0305\u003cbr\u003e\u003cbr\u003ePrice:\u003cbr\u003e\u003cbr\u003eIBM version . . . . . . $299.95\u003cbr\u003e\u003cbr\u003eApple version . . . . . $249.95\u003cbr\u003e\u003cbr\u003eDemo(either) . . . . . .$ 19.95\u003cbr\u003e\u003cbr\u003eSummary:\u003cbr\u003e\u003cbr\u003eEase of Use: . . . . . . A\u003cbr\u003e\u003cbr\u003ePerformance: . . . . A-\u003cbr\u003e\u003cbr\u003eDocumentation: . . . .B\u003cbr\u003e\u003cbr\u003eError Handling: . . . . B\u003cbr\u003e\u003cbr\u003eVendor Support: . . . .(not tested)\u003cbr\u003e\u003cbr\u003eHardware Requirements:\nIBM PC, XT, AT, PCjr or IBM compatible (see below for details)\nApple version - contact vendor\u003cbr\u003e\u003cbr\u003eAnyone still charting stocks or commodities without the assistance of a computer must be considered a\nmember of an endangered species. With the rapidly falling prices of computers and software, it doesn't\ntake a very high imputed wage to convince most serious traders that a computer purchase will pay itself\noff in a matter of a few months (if not weeks). Once you've become accustomed to using a computer for\nyour charts, going back to doing things by hand seems impossible.\u003cbr\u003e\u003cbr\u003eAssuming that you've purchased a computer for which technical analysis and charting software is\navailable (primarily the IBM PC or Apple II series), there is the question of which software package(s) to\nuse. I have bought and used a number of these, and I have learned several lessons which have been costly\nboth in money and time.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759320433,"sku":"\\V03\\C02\\SOFT.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0fd9aac6-4920-4bf1-a134-f8d3abe988cc.jpg?v=1739651455"},{"product_id":"v03-c02-stocb-pdf","title":"V.3:2 (72-73): Stock Beta Coefficient by Scott S. Silver \u0026 Gary M. Wingens","description":"Stock Beta Coefficient\nby Scott S. Silver \u0026amp; Gary M. Wingens\u003cbr\u003e\u003cbr\u003eOver the course of the past two decades the investment community has become increasingly concerned\nwith the notion of risk and its relationship to a portfolio of assets. Economists and statisticians alike have\nresponded to this concern with a slew of theories and formulae which have attempted to characterize\nmarket forces. One of the most widely accepted of these theories is the concept of beta and its\nrelationship to the valuation of portfolio risk.\u003cbr\u003e\u003cbr\u003eEssentially, beta is a comparison between the movements of an individual stock or portfolio of stocks and\nthe movements of the market as a whole. More technically, it is a measure of the market, or\nnondiversifiable, risk associated with any given security in the market.\u003cbr\u003e\u003cbr\u003eFinancial theory suggests that each security's total risk is composed of two elements the diversifiable\nand the nondiversifiable. Diversifiable risk is simply that portion of a security's total risk which is unique\nto the specific firm. This type of risk can be easily eliminated by adding additional securities to a\nportfolio it can be literally diversified away. The risk which is left after diversification is aptly named\nnondiversifiable and can be thought of as market risk. For example, while events such as mineral\ndiscoveries, labor disputes or executive corruption are firm specific and will only effect the performance\nof a few securities, wars or global depressions tend to be economy-wide and will impact on every sector.\nBeta simply measures the expected impact of economy-wide events on specific securities.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759353201,"sku":"\\V03\\C02\\STOCB.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_ab6cc85d-b1b7-43ba-9ed4-ab48d69f8d14.jpg?v=1739651457"},{"product_id":"v03-c02-writ-pdf","title":"V.3:2 (57-58): Writing Neutral Options Spreads by Scott Silver","description":"Writing Neutral Options Spreads\nby Scott Silver\u003cbr\u003e\u003cbr\u003eMost investment advisors, stockbrokers and the like give their clients investment advice such as \"Buy\nIBM stock, the market's going up,\" or \"There's a glut of oil on the market, sell Exxon,\" etc., etc.\nInvestment advisors for pension plans and portfolio managers of large institution accounts trade the\nmarket by buying and selling stock market indexes, futures and options. These are group mixtures of\nstocks ranging from 50 to over 1,000 stocks. All of these people- investors, advisors, brokers, etc., have\none thing in common: They want the market to move in their direction.\u003cbr\u003e\u003cbr\u003eA neutral option writer is a different type of investor. In fact, he does not care in which direction the\nmarket goes as long as his accounts (books) are balanced. He sells overvalued calls (rights to buy) and\novervalued puts (rights to sell) of a stock or commodity, and then during the life of that option, continues\nto keep his \"books\" balanced so that wherever the issue expires, he collects all of the option premium.\nThis neutral option strategy is called a strangle.\u003cbr\u003e\u003cbr\u003eIn October 1984, the Gold market traded in a narrow range, David L. Caplan sold puts of February 1985\nGold at 320 and calls of February 1985 Gold at 380. To do this he put up only $700 in margin, to insure\nthat he would pay for any losses though the commodity exchange, and collected a $700 premium. Caplan\nauthors a newsletter Opportunities in Options and heads up the Commodities and Options Department of\nJesup \u0026amp; Lamont Securities Co., Inc. in Los Angeles.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759385969,"sku":"\\V03\\C02\\WRIT.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_67a7ee28-93ec-42e2-ac06-d11ca910d4a0.jpg?v=1739651460"},{"product_id":"v03-c03-conc-pdf","title":"V.3:3 (106-109): Part 1. Concepts and Examples A Trend Following Method for All Seasons by Anthony W. Warren","description":"Part 1. Concepts and Examples\nA Trend Following Method for All Seasons\nby Anthony W. Warren, Ph.D.\u003cbr\u003e\u003cbr\u003eIntroduction\u003cbr\u003e\u003cbr\u003eTrend following methods based on plots of raw and moving average data are one of the oldest and most\nuniversally used techniques of technical analysis. However, these techniques are appropriate for only\ncertain types of markets, characterized by great cyclical movements or trends, and are not useful in long\naccumulation and distribution periods when the underlying market is flat. Moreover, even in trending\nmarkets the traditional moving average trading techniques tend to be susceptible to false alarms caused\nby short term market reversals. In this article we discuss a trend following method which remedies most\nof these difficulties by\u003cbr\u003e\u003cbr\u003e(1) Establishing upper and lower trend channel lines which characterize the statistical fluctuations in\nthe data, and\u003cbr\u003e\u003cbr\u003e(2) Utilizing a moving average or recursive filter to define trading points and trading regions\nOUTSIDE the uncertainty band between the trend channel lines.\u003cbr\u003e\u003cbr\u003eThis concept is not really new. However, it has only recently become implementable in a reasonably\neconomic and automated fashion, with the growth in power and usefulness of the personal computer. We\nwill discuss the implementation aspects of this method in a follow-up article. In this article wt show the\nsuperiority of this method over the usual trend following technique based on moving averages.\u003cbr\u003e\u003cbr\u003eAt its basis, our trend following concept identifies three trading regions when one should be LONG,\nwhen one should be SHORT, and when one should be OUT, i.e. noncommitted. These regions are\ndefined by the following rules:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759418737,"sku":"\\V03\\C03\\CONC.PDF","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_9b70c64b-14ac-4fef-b8ab-cac14afa376d.jpg?v=1739651462"},{"product_id":"v03-c03-disb-pdf","title":"V.3:3 (114-116): Discount Stock Brokers by Richard Maturi","description":"Discount Stock Brokers\nby Richard Maturi\u003cbr\u003e\u003cbr\u003eIf you're a sophisticated investor, willing to make many of your own investment decisions then May\n1,1975 marked a milestone for your investment activities. On \"May Day\" the Securities and Exchange\nCommission ended fixed commissions, making brokerage commissions fully negotiable.\u003cbr\u003e\u003cbr\u003eMany discount stock brokers came into existence after May 1, 1975 offering investors exceptional\nmoney-saving rates. Discount brokers can offer commission savings on orders for three reasons:\u003cbr\u003e\u003cbr\u003e1.Their staff is paid on a salary basis, therefore no large commissions are incurred.\u003cbr\u003e\u003cbr\u003e2.They do not provide investment advice, therefore they incur no heavy marketing and research costs.\u003cbr\u003e\u003cbr\u003e3.They use specialized clearing agents whose large operations provide economies of scale.\u003cbr\u003e\u003cbr\u003eA trader must keep his commissions to a minimum if he is to maximize his profits. Discount brokers\nprovide an easy and efficient method of accomplishing this goal.\u003cbr\u003e\u003cbr\u003eI'm sure many of you reading this article are thinking, \"So what else is new, I've been dealing with a\ndiscount broker for several years now.\" That is just the point. There has been such turmoil in the discount\nbrokerage business and there is such a wide range of options and prices provided by discount brokers that\nanother look is warranted. You may be satisfied with your present broker but still be missing\nopportunities for more services at the same price or lower commissions by making a switch in brokers.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759451505,"sku":"\\V03\\C03\\DISB.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_ef3c1b97-b61d-4d54-a384-748e23640f5a.jpg?v=1739651464"},{"product_id":"v03-c03-howg-pdf","title":"V.3:3 (100-105): How Good is The Dow Theory? Part II by Bill Dunbar","description":"How Good is The Dow Theory?\nPart II\nby Bill Dunbar\u003cbr\u003e\u003cbr\u003eI had just sat down at my desk in Advanced Design when Cliff walked In.\u003cbr\u003e\u003cbr\u003e\"Ya hear the news?\" he asked.\u003cbr\u003e\u003cbr\u003e\"What news?\"\u003cbr\u003e\u003cbr\u003e\"The rails confirmed yesterday!\" He announced it like he expected me to stand up and cheer.\u003cbr\u003e\u003cbr\u003e\"Oh, yeah?\" I was faking itI didn't know what he was talking about, though I had a vague idea it was\nsomething about the averages. Cliff was great on theory but I don't think he ever put a dime into the\nmarket. I made up for him though by sticking my life savings into stocks without knowing a damn thing\nabout it. That was in 1954 when you didn't have to know much about the market to make money.\u003cbr\u003e\u003cbr\u003eWell, it may seem strange, but I never really started researching various technical approaches until I\nbegan writing articles. Oh, I guess I read a book or two along the way, but do you think I would take the\ntime to check out a theory for my own account? Uh-uh, I just couldn't be bothered.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759484273,"sku":"\\V03\\C03\\HOWG.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_7e6cd993-a40b-4b00-8621-eb9820774d10.jpg?v=1739651467"},{"product_id":"v03-c03-pred-pdf","title":"V.3:3 (122-124): Prediction by Index by Clifford J. Sherry, Ph.D.","description":"Prediction by Index\nby Clifford J. Sherry, Ph.D.\u003cbr\u003e\u003cbr\u003eThe Composite Index of Leading Economic Indicators is a summary measure designed to indicate\nchanges in the direction of aggregrate economic activity. The Index measures the average behavior of a\ngroup of 12 economic time series that show similar timing at business cycle turns. They represent\ndifferent activities or sectors of the economy. The Index was first developed in the 1930's by the National\nBureau of Economic Research and has been published since 1961 by the Department of Commerce in\nBusiness Conditions Digest. The Index tends to lead at business cycle turns and this look ahead quality\nmakes it a valuable tool for predicting changes in the economy, such as impending recession.\u003cbr\u003e\u003cbr\u003eThe procedures used to combine the individual economic series into the Index are designed to prevent the\nvolatile series from dominating the Index and to give more influence to the better performing series. The\neconomic series that are incorporated into the Index tap the following economic processes: employment\nand unemployment; production income, consumption, and trade; fixed capital investment; inventories\nand inventory investment; prices, costs, and profits; and money, credit, and interest rates. Selecting and\nclassifying these individual economic series that become part of the Index is a place where economic\ntheory and empirical observation closely interact.\u003cbr\u003e\u003cbr\u003eThe value of the Index by month from 1980 is shown in Chart 1. These values are often used to\ndetermine the end of economic recovery and the beginning of a recession before it occurs. There are a\nnumber of different methods for looking at these figures in order to determine if a recession is eminent.\nFour filters are commonly used. Filter one looks for a decline of any size from the previous month\n(technically not a filter at all); filter 2, a decline of any size, for two months in a row; and filter 3 for a\ndecline of any size for any three months in a row. The fourth filter seeks two consecutive months of\nnegative and decelerating growth. For example, if the changes in the Index is -1, -1, -2, this would not\nconstitute a signal of a recession, since the middle month, although negative, is not decelerating from the\nprevious month. If the value were -1, -1.5, and -2 or -0.5, -1, and -2, etc., in other words, the growth in\neach of the last two months was negative and algebraically lower than the previous month, then it\nsatisfies the criteria of the fourth filter. The performance of these four filters as reported by Dr. Howard\nKeen for each of the postwar expansions are shown in Table 2.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759517041,"sku":"\\V03\\C03\\PRED.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_b4d50bcf-09d9-46a4-bf1c-c5a7ad84b8e0.jpg?v=1739651469"},{"product_id":"v03-c03-soft-pdf","title":"V.3:3 (117-120): Software Review by John F. Kepka","description":"Software Review\nby John F. Kepka\u003cbr\u003e\u003cbr\u003eSupplier:\u003cbr\u003e\u003cbr\u003eIntra-Day Analyst\u003cbr\u003e\u003cbr\u003eP.O. Box 15952\u003cbr\u003e\u003cbr\u003eNew Orleans, LA 70175\u003cbr\u003e\u003cbr\u003e1-800-535-7990\u003cbr\u003e\u003cbr\u003e1-504-895-1474\u003cbr\u003e\u003cbr\u003ePrice:\u003cbr\u003e\u003cbr\u003eProgram $1500\u003cbr\u003e\u003cbr\u003eYearly Maintenance $250\u003cbr\u003e\u003cbr\u003eSecurity Device $75\u003cbr\u003e\u003cbr\u003eSummary:\u003cbr\u003e\u003cbr\u003eEase of Use: A\u003cbr\u003e\u003cbr\u003eDocumentation: B\u003cbr\u003e\u003cbr\u003eReliability: A\u003cbr\u003e\u003cbr\u003eError Handling: A\u003cbr\u003e\u003cbr\u003eVendor Support: B\u003cbr\u003e\u003cbr\u003eIntra-Day Analyst Version 3.0B has come a long way since I first heard of its introduction at the first\nCompuTrac Seminar (1981) in New Orleans. Essentially, Intra-Day Analyst is a software program which,\nwith the aid of a host quote machine properly interfaced to a computer, provides real-time price updates\nand graphically displays them (high, low, close) in time intervals from as short as I minute to as long as I\ncomplete day (480 minutes). Each graphics screen may be comprised solely of price action or a split\nscreen with prices in the upper half and a selected study underneath.\u003cbr\u003e\u003cbr\u003eWhile I use the Apple version with Commodity Communications quote machine daily, an IBM PC\nversion is also available at the same price (The security device is $100). At the end of this article, the\nimportant differences between the Apple IDA and IBM IDA are discussed for those readers who can\nchoose between systems.\u003cbr\u003e\u003cbr\u003eThe program is menu driven and remembers all of the selections once they are chosen the first time. For\nall practical purposes, all the user need do is turn it on in the morning, and the program will monitor,\nupdate, and calculate studies all day long. My greatest fear for the first month was that I would cause the\nprogram to \"bomb\" while on-line and lose valuable data by picking an incorrect menu selection or hitting\nthe wrong key. After a year and a half, this has never been a problem. Error handling within the program\nis excellent. The only potential running problems are bad data (this can be edited or deleted by the user),\na power failure, or a temporary data transmission loss. I save every hour on the hour, but other\nfrequencies may be chosen.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759549809,"sku":"\\V03\\C03\\SOFT.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_a3b24f5b-b07c-46ad-98a7-65bb6fd987bd.jpg?v=1739651471"},{"product_id":"v03-c03-stoc-pdf","title":"V.3:3 (95-99): Stock and Future Option Trading","description":"Stock and Future Option Trading\u003cbr\u003e\u003cbr\u003eTrading in stock and futures options is one of the least understood yet potentially most rewarding forms\nof investing for the individual, professional trader and institutional investor. While trading in stock\noptions can be traced back more than a century in the over-the-counter market, it is only within the last\ndecade that it has become a significant activity in listed stocks. According to Forbes magazine, by 1980\nthe total volume of options traded measured in terms of their underlying stock exceeded the volume of\nactual shares traded on the New York Stock Exchange.\u003cbr\u003e\u003cbr\u003eThe modern stock options industry began in 1973 when the Chicago Board Options Exchange (CBOE)\nformally started trading options on 16 common stocks. Initially, stock options attracted little interest.\nVirtually the only participants were institutional investors who used options as a hedge to protect their\npositions in a particular stock. The CBOE resorted to buying ad space in the Wall Street Journal to\ninform the investing public of its trading activity. The opportunity for profit in options trading soon\nbecame apparent to professional speculative traders who today maintain the liquidity of the market. Many\nfortunes have been made in stock options and today the CBOE lists options on 156 common stocks.\u003cbr\u003e\u003cbr\u003eFour other option markets have since opened: the American-Stock Exchange, the Philadelphia Exchange,\nthe Pacific Exchange and the New York Stock Exchange. Investors can choose from among\napproximately 425 stock options to trade. The success of the stock options market gave birth to such\nactive investment vehicles as the Standard \u0026amp; Poor's 100 index options market at the CBOE in which\nmore than 200,000 futures contracts are traded daily. The price for a seat on the CBOE - $10,000 in\n1973 - is now $200,000, an increase of 2,000 percent. The options market has become an attractive\nalternative for investors seeking a short-term profit without making a large capital investment.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759582577,"sku":"\\V03\\C03\\STOC.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_93148323-7718-4e46-a316-997524689ac4.jpg?v=1739651474"},{"product_id":"v03-c03-trad-pdf","title":"V.3:3 (121-121): Trading Liquidity: A Parameter for Technical Analysis by Scott J. Levokove and Scott S.","description":"Trading Liquidity:\nA Parameter for Technical Analysis\nby Scott J. Levokove and Scott S. Silver\u003cbr\u003e\u003cbr\u003eTrading liquidity is often overlooked as a key technical measurement in the analysis and selection of\nstocks. The value of technical analysis is often enhanced by taking trading liquidity into account.\u003cbr\u003e\u003cbr\u003eLiquidity is a significant consideration because of the effect it has on the price of a security. Other things\nbeing equal, a relatively illiquid security should carry a lower price because the holder should be\nrewarded for bearing the extra risk. The risk involves the lack of ability to trade large blocks of stock\nwithout significantly affecting the price.\u003cbr\u003e\u003cbr\u003eThis article addresses the issue of trading liquidity, and how it relates to the data and calculations on\ntrading activity provided by Gregg Corporation as a regular feature in Technical Analysis of Stocks \u0026amp;\nCommodities.\u003cbr\u003e\u003cbr\u003eTrading activity equals the total volume for a given period expressed as a percentage of the total number\nof shares outstanding. This value can be thought of as the turnover rate of a firm's shares outstanding and,\ntheoretically, can serve as a good proxy for trading liquidity.\u003cbr\u003e\u003cbr\u003eEvery two months, Gregg Corporation searches its Tradeline Securities Database System for the fifty\nstocks that have exhibited the greatest trading activity over the most recent two-month period. The\nTradeline System contains historical pricing and dividend information plus selected fundamental data for\nover 70,000 securities including equities, bonds, options, government issues and market indexes. For the\ntrading activity analysis, the screening process is narrowed to common stock issues listed on the major\nU.S. exchanges.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759615345,"sku":"\\V03\\C03\\TRAD.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_3319fb58-0aa6-463b-9ff5-2a53251e0287.jpg?v=1739651476"},{"product_id":"v03-c04-comm-pdf","title":"V.3:4 (135-136): Commodity Trading Risks by Allen D. Hanson","description":"Commodity Trading Risks\nby Allen D. Hanson\u003cbr\u003e\u003cbr\u003eFew traders fully realize the risks that they are taking when they make a commitment in the futures\nmarket. They have learned all about charts, cycles, fundamentals, and basic trading theory, but when it\ncomes to understanding the real risk, they simply don't comprehend the hazards involved. This is\nparticularly true regarding the short side of the futures market. While this is often called the most\nprofitable way to be in the market, the upside risk is still unlimited in theory at least, and the downside\npotential is limited to the full price of the commodity. Most amateur traders understand this but they don't\nfully realize the other major risk factors. They fall into five distinct categories.\u003cbr\u003e\u003cbr\u003ePolitical Risks\u003cbr\u003e\u003cbr\u003eThis includes all new rules and regulations that cause immediate change in market value. If a foreign\ngovernment fails or a new political party takes office, the security of the previous government is gone and\ncommodity prices can respond very suddenly. In the United States that includes presidential succession or\nthreat of war, interest rate changes and other government initiated fiscal policy. Even tight futures market\nspreads can go wild if a new rule becomes effective in between two different contract months.\u003cbr\u003e\u003cbr\u003eWeather Risk\u003cbr\u003e\u003cbr\u003eThis includes storms, hurricanes, sudden freezes, prolonged hot or cold spells and other unpredictable\ninfluences on the market place. Some weather risks can be partially anticipated during certain seasons,\nbut a sudden weather disaster can still move prices substantially and violate any chart pattern or seasonal\ntrend.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759680881,"sku":"\\V03\\C04\\COMM.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_0888c0c5-f92b-4a29-b81b-44e5d325a49d.jpg?v=1739651478"},{"product_id":"v03-c04-head-pdf","title":"V.3:4 (131-134): Head and Shoulders: An Introduction to Reversal Patterns by Timothy A. Maguire","description":"Head and Shoulders: An Introduction to\nReversal Patterns\nby Timothy A. Maguire\u003cbr\u003e\u003cbr\u003e\"A picture is worth a thousand words\"- Chinese proverb.\u003cbr\u003e\u003cbr\u003eThe first thing a novice to the stock market would likely notice about individual security prices is that\nthey are not static. Continual change is the only true constant in the market. Being aware of this, technical\nanalysts attempt to predict what changes will occur in individual stock prices. One of their specific goals\nis to determine when trend reversals are underway. Generally, when a stock is undergoing one of these\nreversals, either from an uptrend to a downtrend or vice versa, a characteristic pattern takes shape in the\nstock's price chart. It is important for newcomers to the field of technical analysis to familiarize\nthemselves with these basic reversal formations and their significance in order to see trading\nopportunities. As an introduction to the topic, this article describes two of the most common reversal\npatterns: Head and Shoulders and Multiple Head and Shoulders.\u003cbr\u003e\u003cbr\u003eHead and Shoulders Top\u003cbr\u003e\u003cbr\u003eHead and Shoulders patterns are the most common and, many think, one of the most reliable reversal\npatterns. When this pattern occurs at the height of an uptrend, it is naturally referred to as a Head and\nShoulders Top (HST). It is a formation which signals that the security's price has reached a top and will\ndecline in the future. As the name indicates, the HST has a left shoulder, a head, and a right shoulder. The\nmarket action which forms an HST can be broken down into four phases:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759746417,"sku":"\\V03\\C04\\HEAD.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_f1ffd9b2-d44d-4291-9ef9-c0e896b4c735.jpg?v=1739651481"},{"product_id":"v03-c04-over-pdf","title":"V.3:4 (137-139): Overlooked Trading Opportunities by David L. Caplan","description":"Overlooked Trading Opportunities\nby David L. Caplan\u003cbr\u003e\u003cbr\u003eOption strategies are, unquestionably, one of the most under-used and overlooked opportunities available\nto the trader. Properly used, option strategies can provide the trader with significant new trading\nopportunities and advantages. However, option strategies are currently used only by a small minority of\ntraders. There are several reasons for this.\u003cbr\u003e\u003cbr\u003eFirst, option trading is relatively newoptions on stocks have been exchange traded for twelve years and\noptions on commodity futures and cash indicies for less than three. Secondly, most traders are unfamiliar\nwith the mechanics of option trading and their associated strategies. Third, most brokers do not\nrecommend option strategies because (1) they are also not familiar with them and (2) it takes extra time\nto research the opportunities available. Finally, the most prevalent reason for the non-use of option\nstrategies is the \"time and effort\" necessary to learn the numerous option strategies and how and when to\nimplement them.\u003cbr\u003e\u003cbr\u003eTo be a successful futures trader one must, of course, learn as much as possible about the markets one is\ngoing to trade and generate a successful trading plan. To make profitable use of option trading strategies,\none must not only learn about the underlying market as does the net futures trader, but one must also\nlearn all the mechanics of option trading, the relation of options to the underlying commodities, and the\navailable option strategies and when to use them.\u003cbr\u003e\u003cbr\u003eThis may seem like an overwhelming task, but, since the option strategist uses many of the same methods\nas traders of stocks and commodities (technical and fundamental analysis, the risk\/reward ratio, money\nmanagement, diversification, etc.), experienced futures traders can readily learn this type of trading.\nFurther, the advantages of using option strategies are sometimes so great, that it is well worth the\nnecessary time and energy needed to master them. Some of the advantages include:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759779185,"sku":"\\V03\\C04\\OVER.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_826c1929-3934-42fc-801c-4803e1cbaffb.jpg?v=1739651483"},{"product_id":"v03-c04-trad-pdf","title":"V.3:4 (142-144): Trading With ARIMA Forecasts by John F. Kepka","description":"Trading With ARIMA Forecasts\nby John F. Kepka\u003cbr\u003e\u003cbr\u003eThis article will attempt to present some insight into using ARIMA or Box-Jenkins forecasting\ntechniques on the Standard \u0026amp; Poor (S\u0026amp;P) 500 index futures contract. First, I will recap ARIMA in\nlayman's terms.\u003cbr\u003e\u003cbr\u003eARIMA is translated as AutoRegressive Integrated Moving Average. AutoRegressive means that the\nobservations today depend on the previous observations. Moving Average means that the model includes\nerrors made in the previous forecasts. Integrated takes into account the trend of the observations. ARIMA\nmodels (equations) are abbreviated as ARIMA (p,d,q) where p is the number of autoregressive terms, d\nis the number of differences, and q is the number of moving average terms.\u003cbr\u003e\u003cbr\u003eForecasting futures prices with an ARIMA model make sense because the market is composed of buyers\nand sellers whose equity is directly affected by each price fluctuation. Each price change represents a real\ngain to one group and a real loss to the other. Rising prices instill confidence in the bull's camp and\nprovide them with extra ammunition to shoot bears. This means that successive observations in price are\nnot completely independent, (i.e., random). Margin calls certainly are not random. The ARIMA model\nthen is composed of a predicted value which is dependent on previous prices, a trend component, and an\nerror term. Prices exhibit trends; there are errors in forecasting; and noise or randomness lives in the\nmarket . Hence, the ARIMA (p,d,q) model makes sense in trying to forecast the real world. In fact, an\nARIMA (0,1,1) model is equivalent to exponential smoothing with which every trader is more or less\nfamiliar.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759811953,"sku":"\\V03\\C04\\TRAD.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_43933e74-d1c4-44ba-baf0-f5aaa3b9d45e.jpg?v=1739651485"},{"product_id":"v03-c04-ulti-pdf","title":"V.3:4 (140-141): The Ultimate Oscillator by Larry Williams","description":"The Ultimate Oscillator\nby Larry Williams\u003cbr\u003e\u003cbr\u003eThere is nothing more intriguing to the beginning commodity or stock trader than the discovery of\noscillators. At first, oscillators appear to be the perfect trading tool because so often they give excellent\nbuy and sell signals. But, the more you use oscillators, the more you realize that oscillators give an equal\nnumber of false signals.\u003cbr\u003e\u003cbr\u003eSince the turn of the century, traders have tried to tame their oscillators in order to develop a new\napproach that does not give false signals or false divergences yet provides an insight into the market that\nno other tool can.\u003cbr\u003e\u003cbr\u003eAn oscillator actually measures the momentum of data, whether it is price, volume, or open interest. An\noscillator will help show the speed at which the information is changing. Thus, it can also define\nover-bought or over-sold areas.\u003cbr\u003e\u003cbr\u003eThe pioneer in oscillator work was Owen Taylor who in the 1920's presented oscillator work based on\n7-day data. Taylor looked at price today versus a 7-day moving average of price or a 7-day moving\naverage of advancing and declining stocks over the last seven days.\u003cbr\u003e\u003cbr\u003eIn the 1940's Woods and Vignolia started their interesting approach to the market measuring volume in\nwhat is now known as On Balance Volume. These two gentlemen, based in San Francisco, started\nrunning a cumulative positive-negative volume flow that was later popularized by Joe Granville. Woods\nand Vignolia also did a tremendous amount of oscillator work using 20 to 40-day measurements of days\nthat had up volume versus days that had down volume.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759844721,"sku":"\\V03\\C04\\ULTI.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_431623f0-3d1f-4449-af17-45bd139ec7c1.jpg?v=1739651488"},{"product_id":"v03-c05-data-pdf","title":"V.3:5 (162-165): Data Smoothing using a Kalman Filter by Vince Banes","description":"Data Smoothing using a Kalman Filter\nby Vince Banes\u003cbr\u003e\u003cbr\u003e\"The analysis of continuous pricing information works well with\nthis form of filtering\"\u003cbr\u003e\u003cbr\u003eThe concept of optimum estimation was introduced by Dr. R.E. Kalman in 1960. The first major\napplication of his theories was to reduce the noise found in the data of modern navigation systems. With\nthese theories, system designers were able to use knowledge about the noise in a system to filter out its\neffects and to improve system performance without additional hardware. This led engineers to apply his\nprinciples to many different problems. These same principles can be applied to technical analysis of stock\nand commodity prices.\u003cbr\u003e\u003cbr\u003eBecause the first use of Dr. Kalman's filters was limited to certain environments, few people took the\ntime to understand the mathematics. A technical \"cult\" has been built around these equations, for many a\nPh.D. has been earned from studying them. At first glance, the original papers presented by Dr. Kalman\nare an impenetrable fortress to be understood only by the highest of the most high in the world of\nmathematics. This paper will present, for the common man, the simple second order case of Kalman\nfiltering and how to apply it to data smoothing.\u003cbr\u003e\u003cbr\u003eThe equations are quite simple but very effective in filtering out the high-frequency noise found in most\nmeasurement systems. The analysis of continuous pricing information works well with this form of\nfiltering.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759877489,"sku":"\\V03\\C05\\DATA.PDF","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_f5cd769a-15c1-4b44-a9cf-32da861efbc4.jpg?v=1739651490"},{"product_id":"v03-c05-face-pdf","title":"V.3:5 (159-161): Facelift for an Old Favorite by Gregory L. Morris","description":"Facelift for an Old Favorite\nby Gregory L. Morris\u003cbr\u003e\u003cbr\u003e\"There are many ways in which the Relative Strength Index can\nbe adjusted and redefined.\"\u003cbr\u003e\u003cbr\u003eTechnical analysts who have not heard of J. Welles Wilder, Jr., and more specifically, his Relative\nStrength Index, probably have not delved into the art of technical analysis with much enthusiasm. The\nRelative Strength Index (RSI) was first presented in his now-classic book, New Concepts in Technical\nTrading Systems, published in 1978.\u003cbr\u003e\u003cbr\u003eThose who are familiar with RSI know that it is a very useful momentum indicator because its range is\nalways between 0 and 100. This alleviates the problem of how high is high and how low is low. Another\ninterpretation is its use as a divergence indication; that is, when the indicator and the price do not follow\nthe same pattern. Normally, at tops, the price will continue to make higher highs while the indicator\nmakes lower highs. When used in this manner, the opposite occurs at bottoms. More on this later.\u003cbr\u003e\u003cbr\u003eJust how good is this indicator, especially when everyone is using it!? Let's face it, the indicator was\ncreated in 1978 when there weren't too many personal computers around. I was using red, green, and blue\npencils along with a desk calculator.\u003cbr\u003e\u003cbr\u003eLet's look at the formula for RSI. Basically, it is the average of the last 14 up days divided by the average\nof the last 14 down days. I am using 14 days in this example because that appears to be the most popular.\nThe data used is the difference between today's close and yesterday's close. If today was up two points,\nthen it is the two points difference that are figured into the formula, not the price itself. The Relative\nStrength formula is as follows:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759910257,"sku":"\\V03\\C05\\FACE.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_52defa03-2c2e-41d8-b2ca-d84b738fbb77.jpg?v=1739651493"},{"product_id":"v03-c05-gamb-pdf","title":"V.3:5 (168-170): Gambler's Paradox by Clifford J. Sherry","description":"Gambler's Paradox\nby Clifford J. Sherry\u003cbr\u003e\u003cbr\u003eIf you know the price of a commodity today, can you predict the price tomorrow? A week from\ntomorrow? A month from tomorrow? Can you predict whether the price will increase or decrease and by\nhow much? The answer to that question depends on who you ask. Some people, like technical analysts,\nwho use such things as charts and moving averages, believe that you can. Others do not.\u003cbr\u003e\u003cbr\u003eOne reason this question is so difficult to answer is there is no general agreement about how commodity\nprices are 'generated.' If the underlying 'process' is random and\/or independent, you probably cannot\n'predict' price movement. But, if this is not true, if it is either non-random and\/or dependent, some\n'pattern' exists in commodity prices, and with the appropriate 'tools' you should be able to detect the\n'pattern.' It is important to understand that randomness and independence are separate and distinct\ncharacteristics.\u003cbr\u003e\u003cbr\u003eFrom a technical standpoint, randomness and independence are relatively difficult to define, but an\nanalogy will help. For example, fill a small urn with 50 white and 50 black balls. Take out one ball at a\ntime, write down its color and replace it, take out another, etc. If you do this repeatedly, you will\n'generate' a random and independent sequence. It is random because each and every ball has an equal\nchance of being selected. It is independent because the choice of the first ball had no effect on the\nselection of the second and succeeding balls.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759943025,"sku":"\\V03\\C05\\GAMB.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_6261a0a9-48f4-41cc-a89a-464b4db3a3ff.jpg?v=1739651495"},{"product_id":"v03-c05-gann-pdf","title":"V.3:5 (177-183): Gann Lines and Angles by Robert Pardo","description":"Gann Lines and Angles\nby Robert Pardo\u003cbr\u003e\u003cbr\u003e\"Integrated use of Gann Lines and Angles... appreciably\nenhances the accuracy of the identification and verification of\npotential turning points.\"\u003cbr\u003e\u003cbr\u003eINTRODUCTION\u003cbr\u003e\u003cbr\u003eGann Lines and Gann Angles are technical charting methods for the projection of Forward Support and\nResistance. This article will discuss these techniques, their applications, the concept of Forward Support\nand Resistance, and the Principle of Coincidence.\u003cbr\u003e\u003cbr\u003eThe projection of potential future turning points is one of the more interesting and rewarding applications\nof Forward Support and Resistance. This article will outline an integrated use of Gann Lines and Angles.\nThis integration appreciably enhances the accuracy of the identification and verification of potential\nturning points. It is a good example of the \"sum exceeding the parts.\" It is also an excellent illustration of\nthe Principle of Coincidence.\u003cbr\u003e\u003cbr\u003eTHE MARGIN OF ERROR\u003cbr\u003e\u003cbr\u003eExperience indicates that many traders are unaware of the LIMITATIONS of technical indicators and\ntheir applications. Most traders know the proper application of a particular method. However, most do\nnot know how to determine at what point a method is being used beyond its inherent capabilities. The\nresult of this is inaccurate and misleading trading information. Application of the Principle of\nCoincidence is one method that helps to reduce this effect.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133759975793,"sku":"\\V03\\C05\\GANN.PDF","price":5.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_a7b41b3e-05a6-4099-9381-171945ea88ae.jpg?v=1739651497"},{"product_id":"v03-c05-rev-pdf","title":"V.3:5 (186-187): Revery: Computerized Stock Market Trading by Henry S. Patricoff","description":"Revery: Computerized Stock Market Trading\nby Henry S. Patricoff\u003cbr\u003e\u003cbr\u003eA recent article in Barron's expressed the view that the options Index market has become so large that\npossibly it is the tail that is wagging the dog.\u003cbr\u003e\u003cbr\u003eAside from a spectacular one or two day rise now and then, the stock market has been in a narrow trading\nrange for many past months. Traders who look for a fluctuating market find themselves frustrated by an\ninability to eke out a profit either on the up or down side.\u003cbr\u003e\u003cbr\u003eCould there be another reason for this grid-lock? Is it possible that portfolio managers and market trading\noperators, after punching out their risk-reward ratios, the Betas, and the Thetas, etc., reach similar\nconclusions as to selection and timing? When the time comes to sell, the question is, \"To whom?\", since\nother computers will also read: Unload.\u003cbr\u003e\u003cbr\u003eWill a confused public accelerate the present trend and place their investments into the hands of large\nfunds and managed accounts? If so, instead of customer versus customer or customer's broker versus\ncustomer's broker, it will be Mutual Fund versus Investment Trust, Pension Fund versus College Fund.\u003cbr\u003e\u003cbr\u003eInstead of rampant Bull and Bear markets, we must sadly contemplate this last bastion of financial\njousting reduced to the stability of the Municipal Bond market with calculations carried out to four\ndecimal places.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760008561,"sku":"\\V03\\C05\\REV.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_3fbf828a-3ed1-44b6-9669-0fffc0d71b5b.jpg?v=1739651586"},{"product_id":"v03-c05-rid-pdf","title":"V.3:5 (172-175): Riding for Profits with \"Irv the Liquidator\" by Richard J. Maturi","description":"Riding for Profits with \"Irv the Liquidator\"\nby Richard J. Maturi\u003cbr\u003e\u003cbr\u003eWall Street Journal articles over the past few months have reported the financial dealings of Irwin\nJacobs, better known as \"Irv the Liquidator.\" Jacobs invests in companies he considers financially sound\nbut in need of turning around. He has completed several such acquisitions (Bekins, Aegis) and has sold\nother interests back to the pursued company for a handsome profit. Recent headlines include:\u003cbr\u003e\u003cbr\u003eDisney Buys Out Jacobs' Stake for $158.1 Million\u003cbr\u003e\u003cbr\u003eGroup Led By Jacobs Plans Bid For Rest Of Lyon Metal Jacobs Increases Stake in Minstar Inc.\u003cbr\u003e\u003cbr\u003eJacobs Controls 9.5% of G.C. Murphy\u003cbr\u003e\u003cbr\u003eAvco Position of 6.5% of Common Held by Jacobs Group\u003cbr\u003e\u003cbr\u003eMinstar to Complete Acquisition of Aegis\u003cbr\u003e\u003cbr\u003eAlthough interesting reading, their value escaped me until I conducted an analysis of the stock prices of\nJacobs' prey. As it turns out, the relatively narrow trading range of the Dow Jones Industrial Average and\nlow volume trading days offer me little opportunity for profits or excitement but Jacobs' investments\noffer both.\u003cbr\u003e\u003cbr\u003eMy analysis began with researching old Wall Street Journal and Barron's articles for leads on companies\npursued by Jacobs. This was followed by charting the stock price action (high, low, close, change, and\nvolume) weekly for a period beginning at least a month before the articles were released.\u003cbr\u003e\u003cbr\u003eAnalysis of the stock charts points out the following investment opportunities:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760041329,"sku":"\\V03\\C05\\RID.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_331824da-2020-4559-9709-da3634943fa3.jpg?v=1739651588"},{"product_id":"v03-c05-wher-pdf","title":"V.3:5 (157-158): Where to Put Your Stops by John Sweeney","description":"Where to Put Your Stops\nby John Sweeney\u003cbr\u003e\u003cbr\u003eStops protecting an initial entry position are like forward passes in football: Three things can happen to\nyou and only one of them is good!\u003cbr\u003e\u003cbr\u003e1)You can be taken out of a strong adverse move early (That's good).\u003cbr\u003e\u003cbr\u003e2)You can be taken out of a losing trade at the worst possible price (That's bad).\u003cbr\u003e\u003cbr\u003e3)You can be taken out of a winning trade by an interim fluctuation (That's catastrophic!).\u003cbr\u003e\u003cbr\u003eIt's worth keeping in mind how these events come about, although the first is easy. Protection is what\nstops are supposed to provide. You have presumably set a stop where if reached, adverse price movement\noutside normal fluctuations is indicated. Your stop is hit and the price keeps on moving past it. You feel\npain but you're not mortally wounded.\u003cbr\u003e\u003cbr\u003eMore often, though, as the price bounces against you, your stop is the first to feel the pain. You may\nnotice that an exit on the close would routinely get you out at a better pricethe only exception being\nwhen the close and the day's extreme are one and the same. In this second situation, you get nicked for\nmore than you needed to lose in order to exit your position.\u003cbr\u003e\u003cbr\u003eThirdly, the stop is set too close in zeal to hold down losses. Routine price fluctuation touches it and for\nonce your broker performs as advertised. By the end of the day or week the move you were trading is still\non but you're off the bandwagon. This is doubly injurious to pride and profit: you've converted a winning\ntrade into a losing trade. Your opportunity cost (foregone winnings) is astronomical and you're also\nhurting from a cash loss. Your equity is shrunken by the winnings you didn't get and the loss you did\ntake. Avoid this situation like the plague if you want to stay in the game.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760074097,"sku":"\\V03\\C05\\WHER.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_e0f67413-de69-4d15-9b5a-66ea3358a779.jpg?v=1739651590"},{"product_id":"v03-c06-beng-pdf","title":"V.3:6 (222-223): Benguet revisited by Richard Maturi","description":"Benguet revisited\nby Richard Maturi\u003cbr\u003e\u003cbr\u003eThe November\/December 1983 issue of Technical Analysis of Stocks and Commodities carried an article\nof mine entitled \"Gold Stocks\" which addressed the following question:\u003cbr\u003e\u003cbr\u003e\"Can the average investor successfully participate in the gold market without having to deal with the\nproblems associated with owning precious metals?\"\u003cbr\u003e\u003cbr\u003eIn the article, I detailed my successful trading strategy of buying Benguet, a NYSE gold mining stock\nduring the period March 1982 through March 1983. Benguet is a producer of gold as well as copper and\nchromite and its stock can be traded for its play on the price fluctuations of gold as well as giving the\ninvestor the opportunity to participate in the fortunes of the company and the stock market overall.\u003cbr\u003e\u003cbr\u003eThe basic strategy was to sell Benguet for a gain of a half point per trade and earn a high return through a\nlarge number of trades during the year. Although my trading strategy proved very successful during the\ninitial period with a return of 163%, changing market conditions warranted a review of my Benguet\ninvestments during the next yearly period and a look at future investment opportunities.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760106865,"sku":"\\V03\\C06\\BENG.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_79214f69-4326-427a-b80f-b8da718e6f9e.jpg?v=1739651593"},{"product_id":"v03-c06-cov-pdf","title":"V.3:6 (207-207): Covered calls by Richard Maturi","description":"Covered calls\nby Richard Maturi\u003cbr\u003e\u003cbr\u003eSophisticated and neophyte investors alike can benefit from option trading. Though options are typically\nviewed by many investors as speculative, options can be a very effective conservative investment tool.\u003cbr\u003e\u003cbr\u003eA stock option gives the holder the right to buy or sell the underlying security at a specific price during a\nspecific period of time. A call option provides the right to buy the specified stock, while a put option\nprovides the right to sell the specified stock. The exercise price of the option is called the \"striking price.\"\u003cbr\u003e\u003cbr\u003eThe \"covered call\" option is a conservative vehicle that should not be ignored by any investor. A covered\ncall is a call written by the owner of the stock.\u003cbr\u003e\u003cbr\u003eCall options are purchased with the anticipation that the underlying stock will rise in value in excess of\nthe premium paid for the call. When this happens the holder can sell the call for a higher price or he can\nexercise the option and take possession of the stock at a price less than current market value, either way\nenjoying highly leveraged gains.\u003cbr\u003e\u003cbr\u003eThere are a number of advantages to writing covered calls.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760139633,"sku":"\\V03\\C06\\COV.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_983a168e-a0a8-4266-800a-b390cb866990.jpg?v=1739651596"},{"product_id":"v03-c06-disc-pdf","title":"V.3:6 (201-203): Discount broker blues by Dan Weinberg","description":"Discount broker blues\nby Dan Weinberg\u003cbr\u003e\u003cbr\u003e\"Do-it-yourself investing is easy!\" a discount broker ad\u003cbr\u003e\u003cbr\u003e\"There's a sucker born every minute.\"P.T. Barnum\u003cbr\u003e\u003cbr\u003e\"I really thought I knew what I was doing!\"Anonymous\u003cbr\u003e\u003cbr\u003eHook\u003cbr\u003e\u003cbr\u003eAll your life you've scoffed at people who read Barron's or the Wall Street Journal . They're just\nmoney-grubbing capitalists who are already rich and enjoy checking out the ups and downs of their pet\ncorporations to see if they can get even richer. Not like the ordinary working man, someone like you, who\nhas to work hard for his take-home pay. It's just a simple case of the \"haves\" and the \"have-nots\" and the\n\"have-nots\" just don't have time to keep their noses buried in the stock pages.\u003cbr\u003e\u003cbr\u003eThen, one day, while waiting in the dentist's office or at the gate where your wife's plane was to have\narrived an hour ago, you happen upon a copy of your local newspaper's business section. Having nothing\nbetter to do, you glance at the stock quotations and notice that the stock of a company you've recently\nheard about went up three points just yesterday.\u003cbr\u003e\u003cbr\u003eWhile you don't know much about the stock market, you certainly could have predicted that company's\nrise, because the other night Dan Rather announced on the evening news that this particular company\nwon a big, fat government contract for something or other. So the stock went up three points. Big deal!\nEven a know-nothing like you could have predicted that one.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760172401,"sku":"\\V03\\C06\\DISC.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_c6ce4fc2-892b-4610-9159-d7526706894c.jpg?v=1739651598"},{"product_id":"v03-c06-modw-pdf","title":"V.3:6 (218-221): A modification of Wilder's directional movement system by Thomas P. Drinka and Steven L. Kille","description":"A modification of Wilder's directional movement\nsystem\nby Thomas P. Drinka and Steven L. Kille\u003cbr\u003e\u003cbr\u003eIn his New Concepts in Technical Trading Systems (Copyright 1978) J. Welles Wilder Jr. introduced his\ndirectional movement system with the following:\u003cbr\u003e\u003cbr\u003e\"Directional movement is the most fascinating concept I have studied . . . I have probably spent more\ntime studying directional movement than any other concept. Certainly one of my most satisfying\nachievements was the day I was actually able to reduce this concept to an absolute mathematical\nequation.\"\u003cbr\u003e\u003cbr\u003eThe Directional Movement System\u003cbr\u003e\u003cbr\u003eThe Directional Movement System as elaborated by Wilder requires the calculation of the following four\nexpressions: +DI14,DIl4, ADX, and ADXR. These expressions are defined as follows.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760205169,"sku":"\\V03\\C06\\MODW.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_2dd13fcd-339c-4407-bf0c-4a0361354cc6.jpg?v=1739651601"},{"product_id":"v03-c06-read-pdf","title":"V.3:6 (204-206): Reading between the lines by John Navarte","description":"Reading between the lines\nby John Navarte\u003cbr\u003e\u003cbr\u003eCharting oscillators is one of the most powerful technical analysis tools available for the private and\nprofessional investor. In this article, we will consider two standard oscillator constructions. The first\nhelps you recognize \"price excesses\" relative to moving averages; the second analyzes changes in \"price\nmomentum.\"\u003cbr\u003e\u003cbr\u003eOscillator Formulas\u003cbr\u003e\u003cbr\u003eThe oscillators you can chart are often referred to as \"difference curves.\" These are obtained by\ncomputing the difference between two quantities (for example, the closing price and its moving average,\nor a moving average and its value 10 days prior).\u003cbr\u003e\u003cbr\u003eTo draw an oscillator, you must specify two quantities and then plot the difference between them daily. A\nline chart is used to connect the plotted points. When the oscillator is drawn below the price bar chart, the\ntwo charts can be compared.\u003cbr\u003e\u003cbr\u003eOscillators usually involve moving averages. Because they are accepted indicators of price trend, you\nshould use moving averages with time spans that reflect your investment philosophy. For example, you\nwould not want to base a short-term trading strategy on momentum studies of a 200-day moving average.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760237937,"sku":"\\V03\\C06\\READ.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_95eef270-b233-40cc-a3f8-01c302015f9f.jpg?v=1739651603"},{"product_id":"v03-c06-simp-pdf","title":"V.3:6 (213-215): A simple analogue of auto- and cross-correlation by Clifford J. Sherry","description":"A simple analogue of auto- and cross-correlation\nby Clifford J. Sherry\u003cbr\u003e\u003cbr\u003eIf you trade commodities or stocks and if you expect to make a profit, you are making the tacit\nassumption that you can predict the future price of your commodity or stock.\u003cbr\u003e\u003cbr\u003eTraders often need to know if time series of commodity or stock prices are cyclic and, if they are, the\nextent of the cycle. It is also important to know if two time series are interdependent. Interdependency\ncan be between two commodity prices, if you want to play the spreads, or a series of commodity prices\nand some other time series, such as the Composite Index of Leading Economic Indicators. These\nproperties can be detected by using auto- and cross-correlation techniques, respectively. Unfortunately,\nthese techniques are often difficult to implement and may require a large, general-purpose computer to do\nthe computations.\u003cbr\u003e\u003cbr\u003eDuring the last 10-12 years, with a number of different colleagues, I have developed a number of\nstatistical techniques to deal with these and related questions. Since auto- and cross-correlation are\nrelatively complex and difficult to implement, I developed an analogous technique that can be done with\npaper and pencil or a small computer.\u003cbr\u003e\u003cbr\u003eThe first step is to obtain a listing of the prices of the commodity or stock. If you are using prices, they\nshould be as recent as possible and should represent several hundred equally spaced data points (prices).\nThey should cover the same calendar period.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760270705,"sku":"\\V03\\C06\\SIMP.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_04ac67b5-f602-4439-92a0-694ddb9fe947.jpg?v=1739651605"},{"product_id":"v03-c06-step-pdf","title":"V.3:6 (194-195): Step up to the window by Alan Hanson","description":"Step up to the window\nby Alan Hanson\u003cbr\u003e\u003cbr\u003eAs a newly-licensed floor broker handling orders for a major Chicago commodity broker, I enjoyed\nexpressing my own market theories and opinions to the older members of the exchange. My ideas were\nimportant to me, but they didn't seem to impress my more experienced peers. One old timer would\nanswer me by saying \"Step up to the window, son.\" In plain language, \"If I was so sure of myself, why\ndidn't I put my own money up and trade the market the way I saw it?\" It's one thing to talk about the\nmarket and another matter to \"step up to the window\" and put your own money on the line.\u003cbr\u003e\u003cbr\u003eSince that time, I have gradually begun to realize that the day may come when you could actually \"step up\nto the window\" and the \"window\" might be closed. When we deal with a futures broker and he places our\norder on the floor of a major commodity exchange, the possibility always exists that the exchange may\nnot be able to perform. During the past 80 years or more of active futures trading in the United States,\nthere has never been a major exchange that has ever closed for more than a short period of time. The\npossibility, however, does exist for a major exchange to close and this will affect the trader's potential\nprofit on any trade.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760303473,"sku":"\\V03\\C06\\STEP.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_d7c1fcd7-909b-4595-b4f4-a808c5aa7220.jpg?v=1739651608"},{"product_id":"v03-c06-trad-pdf","title":"V.3:6 (196-199): Trading with ARIMA and stochastics by John F. Kepka","description":"Trading with ARIMA and stochastics\nby John F. Kepka\u003cbr\u003e\u003cbr\u003eIn the June 1985 issue of Technical Analysis of Stocks \u0026amp; Commodities magazine, I presented some\npossible strategies using ARIMA (AutoRegressive Integrated Moving Averages) to trade the September\nStandard \u0026amp; Poor's (S\u0026amp;P) 500 Futures. The Stochastics Oscillator was discussed in the May and\nSeptember 1984 issues of Technical Analysis of Stocks and Commodities. Now, I will combine ARIMA\nfrom daily data, stochastics, and use half hourly Standard \u0026amp; Poor's (S\u0026amp;P) 500 index futures prices. The\nhalf-hourly price data and the stochastics are obtained from Intra-day Analyst, software specifically\ndesigned for intra-day price analysis.\u003cbr\u003e\u003cbr\u003eARIMA Sets the Day's Range\u003cbr\u003e\u003cbr\u003eThe ARIMA forecasted highs, lows, and 50% confidence levels were calculated from a model developed\nfor the S\u0026amp;P 500 September 1984 futures with EASI\/ARIMAThe 2%, Solution . I refer to these\nforecast levels as potential action points. Both the regular and the slow stochastics are presented for\ncomparison in Figure 1 along with the price action. Figure 2 lists Daily ARIMA forecasted values.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760336241,"sku":"\\V03\\C06\\TRAD.PDF","price":3.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_8ad81e6c-7cff-449c-bee9-5c3d06edeb90.jpg?v=1739651610"},{"product_id":"v03-c07-comm-pdf","title":"V.3:8 (258-259): Commodity spread","description":"Commodity spread\u003cbr\u003e\u003cbr\u003eThe Handbook of Commodity Spreads\u003cbr\u003e\u003cbr\u003ePrice: $39.95\u003cbr\u003e\u003cbr\u003eWayne Esserman\u003cbr\u003e\u003cbr\u003e(800) 428-7808\u003cbr\u003e\u003cbr\u003e(800) 382-7884 (Indiana)\u003cbr\u003e\u003cbr\u003eEWE Publishing\u003cbr\u003e\u003cbr\u003eP.O. Box 201\u003cbr\u003e\u003cbr\u003eDelphi, Ind., 46923\u003cbr\u003e\u003cbr\u003eThe problem with spreads is that they just aren't sexy. There's not enough \"pop\" in them, not enough\ngusto. They ooze along, steadily but minutely changing day in and day out a banker's deal. Not for\nthem is the explosive single-day rally or collapse. Sure, the pros play these things and make money at\nthem, but what fun are they?\u003cbr\u003e\u003cbr\u003eYou have to follow at least two contracts at once, perhaps more. You have to worry about new crops and\nold crops. You can't figure out how to enter the order (\"premium to the deferred!?\") without your broker\nlaughing at you. Getting data on past spread performance is an extra hassle. Updating it with your current\nsoftware\/data source is close to impossible, so it has to be done by hand. All this to eke out $.06 in oats\nover six months? Are you kidding? So what if the ROI is 100% it's still only $.06 for God's sake.\u003cbr\u003e\u003cbr\u003eIt can't be stated too strongly that the name of the game in futures is limiting the damage, not making big\npoints. The concept is alien to nearly all walks of American life. Most eyes are looking for the big wins,\nbut the trick is to be in the market long enough to take those big wins. Most traders don't think this way\nand the received wisdom is that, as a result, as many as 90% of retail traders lose their shirts and leave the\ngame. The nifty thing about spreads is not that they make big gouts of money but that they rarely lose\nlarge amounts.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760369009,"sku":"\\V03\\C07\\COMM.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_416681db-bc85-43a3-a1dc-9ed4195863bc.jpg?v=1739651612"},{"product_id":"v03-c07-crook-pdf","title":"V.3:8 (257-258): Crooks, Cranks and Honest Citizens: Trading Psychology by Fred S. Gehm","description":"Crooks, Cranks and Honest Citizens: Trading\nPsychology\nby Fred S. Gehm\u003cbr\u003e\u003cbr\u003eIn a competitive game like commodity trading, a player should hardly expect to receive good advice from\nthe other players. It's like asking the poker player across the table from you how you can beat him. Yet\nthere are men and women of good will in the market and good advice is available. Besides good will, one\nreason experienced traders will often give good advice is that they know that the better their advice the\nmore certainly it will be ignored. One cannot spend much time talking with traders without hearing a\ntrader asking his or her mentor, \"Why didn't you tell me that before?\" And the mentor replying, \"I did!\"\u003cbr\u003e\u003cbr\u003eTrading psychology is a subject that experienced traders consider important, if not critical, and beginning\ntraders generally consider of little interest and value. Some excellent advice is available in the books\nbelow and the reader will ignore it at his or her own peril.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760401777,"sku":"\\V03\\C07\\CROOK.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_617ee715-53b5-4ea3-a3a8-f926b53f074d.jpg?v=1739651614"},{"product_id":"v03-c07-disc-pdf","title":"V.3:7 (240-241): Discount broker blues Part 2 by Dan Weinberg","description":"Discount broker blues\nPart 2\nby Dan Weinberg\u003cbr\u003e\u003cbr\u003eBeginner's Luck\u003cbr\u003e\u003cbr\u003eEveryone assumes that when you talk about \"beginner's luck\" you are referring to good luck. This is an\nincorrect assumption in many cases, and it certainly was with my early trades in the stock market.\u003cbr\u003e\u003cbr\u003eLet's begin with those first ten stock trades. After realizing that I was $350 in the red before even getting\nout of the starting gate, I watched in amazement as my \"well-chosen stocks\" began to descend in value,\neven as they had ascended during my \"practice period.'' These were no speculative stocks, mind you; they\nwere \"blue chips\" stocks like IBM, Chrysler, Consolidated Edison (now Sara Lee) and General Motors, to\nname a few.\u003cbr\u003e\u003cbr\u003eNaturally, as my losses mounted, I grew more and more frightened. While I don't have a wife whose\nanger I must assuage, I did have my self-respect to deal with, and it wasn't faring too well.\u003cbr\u003e\u003cbr\u003eAlthough I picked good stocks during a \"bull market\" (when stock prices were on the upswing), I readily\nlearned that stocks can go down as well as up. I caught the market during a downtrend, when people were\nselling off stocks that had made some pretty nice profits. I managed to lose about $850 in my first two\nweeks \"playing the market,\" and that didn't even count commissions.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760434545,"sku":"\\V03\\C07\\DISC.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_c3af764c-767e-4d15-97f7-0175c2d7a256.jpg?v=1739651617"},{"product_id":"v03-c07-fina-pdf","title":"V.3:8 (256-256): Financial Futures","description":"Financial Futures\u003cbr\u003e\u003cbr\u003ePeople trading financials often feel their instruments are only skimpily represented in standard chart\nservices. Despite the financials being the most active markets going currently, many services serve up a\nheavy diet of deferred corn contracts every week. Also, the traditional services don't understand the depth\nand complexity of the debt markets and therefore show only the tip of the proverbial icebergnearby\nfutures and a couple of rate charts you could get for free from the Fed.\u003cbr\u003e\u003cbr\u003eFINANCIAL FUTURES is a complete solution for all of the above: full coverage of rate-sensitive\nmarkets (rate futures, stock indicies, energy, currencies and precious metals) together with extensive cash\nmarket, yield curve and spread charting. This one weekly or biweekly issue will give the financials trader\nmore ideas than he could ever hit for $325-$400 annually, depending on how you sign up.\u003cbr\u003e\u003cbr\u003eWhat doesn't it have? Exotic technical indicators are missing for one thing. Wilder's Relative Strength,\nshort- and medium-term oscillators, and moving averages (5-10-20 days) are included with some\ncontracts, but this definitely is not the \"let's see if we can get everything on one page\" school of thought.\nThe pages are full but cleanly plotted with duo-tone shading to facilitate reading. A typical set for Tbills\nis shown in Figure 1.\u003cbr\u003e\u003cbr\u003eWhat has been selected is more important than how it has been presented. The only thing missing from\nmy regular trading pattern are the currency optionsparticularly Dmarksand lumber, which you\nwouldn't expect in here anyway. To make up for that, all the spread, cash and yield info is here, while it's\nabsent in the other services.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760467313,"sku":"\\V03\\C07\\FINA.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_f06a9a85-2153-4cf1-9688-75aa671d6e35.jpg?v=1739651619"},{"product_id":"v03-c07-impl-pdf","title":"V.3:8 (252-255): Part II. Implementation Using Alpha-Beta Filtering A trend following method for all seasons by Anthony W. Warren, Ph.D.","description":"Part II. Implementation Using Alpha-Beta\nFiltering\nA trend following method for all seasons\nby Anthony W. Warren, Ph.D.\u003cbr\u003e\u003cbr\u003eSummary\u003cbr\u003e\u003cbr\u003eIn the June issue of Technical Analysis of Stocks \u0026amp; Commodities we presented a trend following method\nfor stock and commodity trading which has a number of advantages over moving averages for trade\ntiming. The method consists of computing an upper and lower trend channel which defines an uncertainty\nband within which the market price fluctuates, and computing a trading filter which is used to make buy,\nsell, and hold decisions. Historical price data, the trend channels, and the trading filter are then plotted\ntogether to present a graphic analysis of the current trading environment. Figure 1 shows an example\nanalysis using this method, where the price data consists of weekly closing prices of the Fidelity Equity\nmutual fund.\u003cbr\u003e\u003cbr\u003eThe trend analysis plots are interpreted as follows:\u003cbr\u003e\u003cbr\u003e(1) If the trading filter lies below the lower trend channel, an uptrend market is in progress and one\nshould buy or hold long market positions.\u003cbr\u003e\u003cbr\u003e(2) If the trading filter lies between the trend channels, no trend is evident and one should liquidate any\ncurrent market positions.\u003cbr\u003e\u003cbr\u003e(3) If the trading filter lies above the upper trend channel, a downtrend market is in progress and one\nshould sell or hold short market positions.\u003cbr\u003e\u003cbr\u003eWith this method, trade timing decisions are based on penetrations of the lower and upper trend channels,\ni.e., one should buy or sell long positions based on penetration of the trading filter through the lower\ntrend channel and should sell or cover short positions based on penetration of the upper trend channel.\nThis method has two primary advantages over moving averages for trend following:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760500081,"sku":"\\V03\\C07\\IMPL.PDF","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_9a7b2837-4e08-44bc-ba15-24c58a0c29c5.jpg?v=1739651621"},{"product_id":"v03-c07-prof-pdf","title":"V.3:7 (235-239): Profitability of selected technical indicators by Thomas R Drinka, Steven L. Kille, Eugene Mueller.","description":"Profitability of selected technical indicators\nby Thomas R Drinka, Steven L. Kille, Eugene R. Mueller\u003cbr\u003e\u003cbr\u003eThe objectives of this paper are to review five popular technical indicators, summarize the capability of\nmicrocomputer programs developed jointly in the Department of Agriculture at Western Illinois\nUniversity and at MicroVest, and present on a periodic basis selected research results generated by these\nprograms.\u003cbr\u003e\u003cbr\u003eTechnical Analysis\u003cbr\u003e\u003cbr\u003eThere are four general approaches to technical market analysis: price charts, trend-following methods,\ncharacter-of-market analysis, and structural patterns.\u003cbr\u003e\u003cbr\u003eOne of the oldest known methods of market analysis is the price chart. The most popular method of\ncharting prices is the bar chart. The procedure is to graphically record the open, high, low, and settlement\nprices each day, week or month. Several variations have been developed, and the chartist observes market\ntrends as well as price patterns in an attempt to discover the future movement of market prices.\nUp-to-date price charts can be purchased at a modest cost, and some brokerage houses supply them to\ntheir customers free of charge. A major disadvantage of such charts is that the use of them requires\npersonal judgment to interpret chart formations. Furthermore, to the extent that the many traders who are\nfamiliar with these charts may act in concert, the charts themselves may be self-fulfilling.\u003cbr\u003e\u003cbr\u003eThe trend-following method of market analysis follows the basic rule of buying strength and selling\nweakness. It is assumed that an established price trend is more likely to continue than to reverse. The\nmoving average is a popular trend-following method. There are several variations of moving averages,\nand of identifying buy and sell signals from them; however, the only judgment involved relates to\nidentifying the precise time and method to trade after a trading signal is observed.\u003cbr\u003e\u003cbr\u003eA simple average of daily settlement prices is the ratio of a sum of daily settlement prices divided by the\nnumber of settlement prices in the sum. A simple moving average of daily settlement prices is a\nprogressive average, in which the number of settlement prices in the sum remains the same, but the sum\nis taken over progressively different days. Each day that the moving average is computed, the settlement\nprice of the most recent day is included in the sum, while the settlement price of the eldest day is\nexcluded. A simple n-day moving average of settlement prices is defined as follows:","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760532849,"sku":"\\V03\\C07\\PROF.PDF","price":4.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_984d716f-f292-4e06-a6c0-c4c3e1272420.jpg?v=1739651624"},{"product_id":"v03-c07-soun-pdf","title":"V.3:7 (233-234): Sound Off: A case for rising energy prices by Joseph Holleman","description":"Sound Off:\nA case for rising energy prices\nby Joseph Holleman\u003cbr\u003e\u003cbr\u003eEditor's Note: Mr Holleman was bold enough to write this in mid-June 1985 for our December issue.\nWhether correct or not, we feel an example of the thinking behind taking an actual position is valuable\nfor our readers.\u003cbr\u003e\u003cbr\u003eTurn on your television set or pick up any newspaper these days and it won't be long before you'll be\nhearing the latest predictions that oil prices will soon collapse.\u003cbr\u003e\u003cbr\u003eIt's even being forecast that soon you'll again be able to find gasoline for 50 cents a gallon at your local\ngasoline service station.\u003cbr\u003e\u003cbr\u003eAnd with OPEC members continuously backstabbing each other and seemingly never able to agree on\neven the time of day much less benchmark crude oil prices, it seems only a matter of time before those\nrosy predictions become reality and OPEC dissolves into nothing but a bad memory.\u003cbr\u003e\u003cbr\u003eAt least that's what all the \"experts\" keep telling us.\u003cbr\u003e\u003cbr\u003eIn fact, right now you could probably fit all the energy analysts with long-term bullish opinions on energy\nprices into an average phone booth.\u003cbr\u003e\u003cbr\u003eYou might even have extra room in that same booth. Recently, I called several major brokerage firms to\nsee if they could recommend anybody, anywhere who presently had a long-term bullish opinion on the\nenergy markets.\u003cbr\u003e\u003cbr\u003eNot a single firm had anyone to recommend.","brand":"store-traders-com","offers":[{"title":"Default Title","offer_id":52133760565617,"sku":"\\V03\\C07\\SOUN.PDF","price":2.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0900\/3843\/6209\/files\/unnamed_58e7e7a7-416b-4e1d-8ff4-7ab3ac9d7d09.jpg?v=1739651626"}],"url":"https:\/\/shop.traders.com\/collections\/volume-3-articles.oembed","provider":"Stocks \u0026 Commodities","version":"1.0","type":"link"}