Stan Weintstein

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Jul 3, 2006 10:00 am

I was referred a book titled, "How to Profit In Bear and Bull Markets" by Weinstein. I have to say this is by far the best book on tech analysis i have ever read. He wxplains things in a way that it makes sense , especially someone like myself who is knew to tech analysis and charting. Sometimes people in this forum are asking for good books so I figured I'd throw this one out there. I do understand this book is a classic and the majority of the "old timers" in here have already read it, it's just a suggestion for anyone who hasn't.

Jul 3, 2006 10:13 am
keith121883:

I was referred a book titled, "How to Profit In Bear and Bull Markets" by Weinstein. I have to say this is by far the best book on tech analysis i have ever read. He wxplains things in a way that it makes sense , especially someone like myself who is knew to tech analysis and charting. Sometimes people in this forum are asking for good books so I figured I'd throw this one out there. I do understand this book is a classic and the majority of the "old timers" in here have already read it, it's just a suggestion for anyone who hasn't.


"Knew to technical analysis?"


Who really needs to read something like that?  Not a financial advisor whose job is to shake hands and get people to write checks.


The only reason to read things like that would be so that you can be conversant in the industry.  Clients become suspect of advisors who answer, "Why did the market go up so much yesterday" with "Because there were more buyers than sellers."


However, unless you're a real smart guy you are going to find long involved discussions of 200 day moving averages violatiing an inverted hickey formation as determined by dividing the advance decline ratio by your age to be, shall we say, unnecessarily confusing.


Technical analysis works because it's a self fulfilling prophesy.  "My Gawd, we've got an inverted head and shoulders confirmation----buy, buy, buy!"  And sure enough all that buying drives the market up.


Learn to talk fundamentals--your clients will be able to understand that earnings per share are increasing, or the dividend payout ratio went up.  They won't be able to grasp, "It's in an inverted saucer with the 50 day moving average as support but the 200 day as resistence......"


Leave that up to the staff meetings in the research department and they'll leave making the calls on the clients up to you.

Jul 3, 2006 11:31 am

Then dont read the book, i thought it was very interesting. I understand this is a sales job over everything else but there is nothing wrong with having a passion for the market.

Jul 3, 2006 11:46 am
keith121883:

Then dont read the book, i thought it was very interesting. I understand this is a sales job over everything else but there is nothing wrong with having a passion for the market.


Absolutely not--did I say there was something wrong with having a passion for the market?

Jul 3, 2006 11:49 am
NASD Newbie:
keith121883:

I was referred a book titled, "How to Profit In Bear and Bull Markets" by Weinstein. I have to say this is by far the best book on tech analysis i have ever read. He wxplains things in a way that it makes sense , especially someone like myself who is knew to tech analysis and charting. Sometimes people in this forum are asking for good books so I figured I'd throw this one out there. I do understand this book is a classic and the majority of the "old timers" in here have already read it, it's just a suggestion for anyone who hasn't.


"Knew to technical analysis?"


Who really needs to read something like that?  Not a financial advisor whose job is to shake hands and get people to write checks.


The only reason to read things like that would be so that you can be conversant in the industry.  Clients become suspect of advisors who answer, "Why did the market go up so much yesterday" with "Because there were more buyers than sellers."


However, unless you're a real smart guy you are going to find long involved discussions of 200 day moving averages violatiing an inverted hickey formation as determined by dividing the advance decline ratio by your age to be, shall we say, unnecessarily confusing.


Technical analysis works because it's a self fulfilling prophesy.  "My Gawd, we've got an inverted head and shoulders confirmation----buy, buy, buy!"  And sure enough all that buying drives the market up.


Learn to talk fundamentals--your clients will be able to understand that earnings per share are increasing, or the dividend payout ratio went up.  They won't be able to grasp, "It's in an inverted saucer with the 50 day moving average as support but the 200 day as resistence......"


Leave that up to the staff meetings in the research department and they'll leave making the calls on the clients up to you.



Newbie,


Why don't you just admit that you are a new Jones broker?  The crap you spewed above is straight out of the Jones training manual.  It's their way of saying you are too stupid to understand anything more complicated than a story stock.  Glad you bought it.  Maybe if you had been around and bought the "fundamentals" of WMB and WCOM you would have insight to add.  Oh, but please let the research dept handle that... your job AT JONES is to go out, shake hands, and collect checks.  Is that what you tell your clients, or do you lie to them too?

Jul 3, 2006 12:02 pm
unsunghero:

It's their way of saying you are too stupid to understand anything more complicated than a story stock.



Nope, what I'm saying is that your job is to shake hands and convert prospects to clients.


You don't need to rail against the night if you're doing that.