tag:blogger.com,1999:blog-19713238.post7055239069325052330..comments2023-11-05T06:41:02.893-05:00Comments on Wall St. Warrior: NASDAQ Technical Picture - Weekly UpdateTJhttp://www.blogger.com/profile/13294634341130531371noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19713238.post-79131905806855076942007-02-13T21:13:00.000-05:002007-02-13T21:13:00.000-05:00Thanks Jamie,PatThanks Jamie,<BR/><BR/>PatAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19713238.post-56197841634667268612007-02-12T23:09:00.000-05:002007-02-12T23:09:00.000-05:00Hi Pat,Okay, now I understand what you are looking...Hi Pat,<BR/><BR/>Okay, now I understand what you are looking for. So in that case, I would recommend the last book on the side panel which is my technical bible -Technical Analysis of Stock Trends by Edwards and Magee and my second choice would be Technical Analysis of the Financial Markets by John Murphy.TJhttps://www.blogger.com/profile/13294634341130531371noreply@blogger.comtag:blogger.com,1999:blog-19713238.post-91703611571335514312007-02-12T21:45:00.000-05:002007-02-12T21:45:00.000-05:00Thanks Jamie.I'm looking at improving my day-tradi...Thanks Jamie.<BR/><BR/>I'm looking at improving my day-trading and swing trading. I'm not a newbie, I have some trading experience, just wanted to brush up my skills. I'm amazed at your level of trading proficiency, so curious to know which book(s) you attribute your current level of skill to. I've read Carter's book, its good and easy to understand. Thanks<BR/><BR/>PatAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19713238.post-50806326532055431772007-02-11T23:10:00.000-05:002007-02-11T23:10:00.000-05:00Hi Pat,A distribution day occurs when price closes...Hi Pat,<BR/><BR/>A distribution day occurs when price closes below the previous day's low on higher volume. An accumulation day is the opposite.<BR/><BR/>The significance in the current market is to help determine if the this current consolidation phase will resolve itself as a continuation or reversal pattern. Friday's price/volume action on the NASDAQ signifies that smart money is selling. However, we need to see more distribution days in the coming days and weeks to confirm that the market is indeed reversing.<BR/><BR/>I have read upwards 25 books and it's difficult to identify the two best books without knowing your trading/investing objectives.<BR/><BR/>All of the books on my left side panel are highly recommended. If you are relatively new to trading, I would recommend Martin Pring's Technician's Guide to Day and Swing Trading because it covers most of the technical aspects of trading as well as practical knowledge applicable to day trading. In addition, it comes with CD ROM. Secondly, I would recommend the Japanese candlestick book as it is important to master the key candlestick reversal patterns. If you already understand candlesticks, you should buy the Techniques of Tape Reading which is another very practical guide to intraday chart setups, entries and exits.<BR/><BR/>The Carter Book is for intermediate traders (at least three years experience).<BR/><BR/>Hope this is helpful.TJhttps://www.blogger.com/profile/13294634341130531371noreply@blogger.comtag:blogger.com,1999:blog-19713238.post-74970651546173599082007-02-11T21:53:00.000-05:002007-02-11T21:53:00.000-05:00Hi Jamie,How do you define distribution day? And w...Hi Jamie,<BR/>How do you define distribution day? And what is its significance?<BR/><BR/>Can you recommend 2 books on technical analysis which helped you to achieve this level of proficiency today? Thx!<BR/><BR/>PatAnonymousnoreply@blogger.com