Remember the late '90s? That bull market heyday when you could essentially sprinkle peat moss over a jar full of pennies and still realize a 27% return within a week? Those were the days, my friends; we thought they'd never end…but they did, and now Joe and Jane Investor are looking for new strategies to replace the old approach of simply purchasing 1,000 shares of Amazon.com, cracking open a beer, and watching the Bulls on the tube (while the bulls on Wall Street were--in the immortal words of economics experts Bachman-Turner-Overdrive--taking care of business). Enter the seminar salesmen, such as Core Trading Tactics with Oliver Velez's amiable host ("I don't need to pay someone to lose my money…I can lose it myself"), who, after reminding attendants and viewers that "successful trading is always the art of finding an idiot" offers a system for "negotiating the terrain between fear and greed"--the two driving forces behind market shifts. Flying in the face of traditional stockbroker advice, Velez outlines the huge changes in the market over the past decade that make buy-and-hold and diversified portfolios less than optimum strategies for serious traders today. Using daily and weekly charts ("CEO's lie; analysts lie; charts don't lie"), Velez opts for a technical approach over evaluating fundamentals, which--in its simplest iteration--boils down to buying after a consecutive 3-5 week pattern of moves below a stock's 20 or 40 day moving average and selling in the opposite situation. Actually, the argument is reasonably compelling for stocks subject to numerous intermediate-term market swings (Intel and Microsoft are used as examples). Of course, if the stock moves way lower or higher, you lose--which has always been the downside of every get rich quick market-timing scheme since the dawn of the Dow. Recommended, overall, for reasonably market-savvy viewers. Also newly available at the same price: Winning Chart Patterns: 7 Patterns That Really Work with Ed Downs. Aud: P. (R. Pitman)
Core Trading Tactics with Oliver Velez
(2001) 107 min. $99. Traders' Library. PPR. Color cover. ISBN: 1-931611-26-2. Volume 17, Issue 3
Core Trading Tactics with Oliver Velez
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