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To Lionel:
I meant California. I went to a week-long seminar on investment strategies
at Dana Point. One of the speakers I wanted to hear was Chuck Mellon who
has made a successful living for a number of years option trading. One of
the books I picked up was "Wall Street Money Machine" by Wade Cook who
is/was part of a group which called itself Team Wall Street. Chuck Mellon
was part of that group as well and I got his book as well which is called
"How to invest your way to Wealth". The book turned out to be a bit of a
let down after hearing the guy talk for a day or so but good as a
reference.
To Michael:
I had heard Harry Dent talk a year or so ago in Hawaii so I was glad to get
his book "The Great Boom Ahead". The book was written in 1993 and his
opening prediction was that the Dow would hit 8500 by 2007. The Dow was
around 3500 when he wrote the book so the prediction was a little
outrageous at the time. Look out after 2007 though. Any other Harry Dent
fans out there?
I read "What Works on Wall Street" by James O'Shaughnessy in one sitting
and his research findings certainly point to where to look for long term
profits on the market. Of course we have fewer stocks on our market with
much smaller capitalisation but I am hopeful that the general ideas
translate OK. Time will tell.
I also picked up "The New Market Wizards" by Jack Schwager which was
published in 1992 but still has some good lessons.
I also bought James Bittman's book "Options for the Stock Investor" which
has a handy option-pricing software program included with the book which is
"designed to help investors develop realistic expectations about option
price behaviour". I have since seen that book here in Australia but at a
very different price. I am still working my way through that one.
I also got some copies of Value Line and Barrons and looked at a whole
range of on-line services that you have over there. Geez are you guys
spoilt.
What has all of that to do with Metastock and TA, well to me it is about
getting the philosophy right and the psychology right. Once those two are
in place then TA provides the trigger. I am still working on the "great
bear indicator" but I reckon that by 2007 I will be ready.
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