Intermarket Technical Analysis : Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets
Author: John J. Murphy
List Price: $80.00
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ISBN: 0471524336
Publisher: John Wiley & Sons (01 March, 1991)
Sales Rank: 37,227
Average Customer Rating: 4.67 out of 5
Customer Reviews
Rating: 5 out of 5
A true technical analysis classic
There is very little information out there on Intermarket analysis (see Martin Pring's "All Season Investor" and Murray Ruggiero "Cybernetic Trading Strategies" among the few to offer info in this niche). Turns out the Intermarket form of technical analysis is among the most important in analyzing the economy and the various links between financial sectors. It's a key to deciphering the intermediate and longer term trends (& with Ruggiero, possibly short term trends). Amazingly, nearly all high paid economists and many financial market analysts get it wrong, but the markets collectively don't by definition. (You can't trade an economist, there is no "economic futures index", and the economists generally aren't traders since they don't know how.) Once you have the basics of technical analysis under your belt, this book is a pivotal and necessary step forward in an education towards deciphering the increasingly interrelated worldwide financial markets. A must read, but only for the serious investor. Too complicated and difficult to use for the dilettante. I wish John would do a "year 2000" update just to freshen up the charts, but the basic relationships haven't changed much and the lessons are still totally valid.
Rating: 4 out of 5
Covers insights many miss
This book and its concept dwells into the area of the financial markets and how they affect each other. Its theory meshes with various other market theories in that if one market goes up, another may respond differently. This is one of the handful of books i would recommend to anyone beginning to get serious about the financial markets. I first picked this up in a state library, much to my amazement it was brand new and never borrowed, much like a lot of the information in it.
Rating: 5 out of 5
If you liked this book, you'll love his new book....
Those who were reluctant to accept the benefits of intermarket analysis after reading Intermarket Technical Analysis (1991) will find making the paradigm shift much easier after reading his latest book published in February 2004 called Intermarket Analysis. Murphy has the benefit of some monumental market events in the last three decades to demonstrate his case and he uses them to great effect. As John pointed out in an interview for Stocks & Commodities magazine I did with him in December 2003, it was his original goal to write the quintessential intermarket book but then found the topic so involved that each chapter could have become a book. There is just so much to discuss. Attempting to cover anything but a small snippet in a review is sheer folly. It is also impossible to do the book justice.
Markets have become so interdependent in the last decade, a correlation that continues to strengthen with time. If those who suffered financial ruin between 2000 and 2002 had read Intermarket Technical Analysis, how many of them could have avoided huge losses and even profited from what occurred? We will never know for sure but is it a risk they anyone can afford to take, especially when considering that the cost of avoidance (cost of the book) is less than $50? For those serious about making money in the market and keeping it, his new book, Intermarket Analysis is an absolute must!
Matt Blackman - Technical writer/review and regular contributor to Technical Analysis of Stocks & Commodities Mag, Traders Mag (Europe), Working Money, Traders.com Advantage, SFO Magazine
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