Tom Williams, The Undeclared Secrets That Drive the Stock Market

This is by far the most worthwhile book regarding trading the markets.
This book will help you under the stock market the easy way. The information will be a starting revelation to most readers.

Newspapers, magazines and television newscasters will always appear to give authoritative statements on the latest stock market move, however, you can never be told the real truth.

Most traders give a little or no attention to how the stock market actually works because they believe they already know how it works. The stock market is simple, it works on supply and demand like any other free market place, if there is more selling than buying then the market must go down. In principle this is correct, however in practice it does not work exactly the way it sounds that it should be working and one may fail to notice the unseen forces that drive the stock market.

This book not only explains to the reader why moves occur but also how to recognize the underlying forces at work in the stock market.

You will also soon see how you can select individual stocks for trading with limited information. Fundamental analysis, price/earnings ration, advice from your broker, buy or sell recommendations from newspapers and magazines, is the traditional approach, however there is a far better way to pick the right stocks while leaving the poor ones alone.

Tom Williams, the author has been energetically applying this analytical studies for the last 30 years to the stock and futures markets. His professional experience gained a great impetus several years ago when reading what Richard D Wyckoff had to say on the subject of volume reading in the early thirties.

Combining what Wyckoff had to say about volume with his 12-plus years in Beverly Hills, California working with a trading syndicate (off the floor traders of the stocks and shared trading their own accounts and others), this far reaching book is the result. The reader should benefit immensely (this is, do well in their investing) from the new and creative computer and no-computerised market timing indicators and thinking that Tom opens up for them.

Table of contents

Introduction

Random Walks And Other Misconceptions

Chapter One

A Market Overview
The Market Professionals
Supply and Demand
How to Read the Stock Market
How to Tell if the Market is Strong or Weak
A Simple Example – End of a Rising Market
An Exception to the Low Volume Rule
VOLUME – The Key to the Truth
Testing Supply
Pushing Up Through Supply
High Volume On Market Tops
Effort versus Result
What actually stop a down move and how will I recognise it?
The 'Shake-Out'
Chapter Two

Refinements in Volume Spread Analysis
Volume Surges in Related Markets
Different Time Frames
Manipulation of the Markets
Chapter Three

Trends and Trend Lines
An Introduction to Trends
Constructing Trend Lines
Bottoms and Tops
Trend Scaling
Why do Trend Lines Appear to Work?
Perceived Value
Trend Clusters
Using Trend Clusters
Support and Resistance – and Volume near a Trend Line
Pushing up Through a Trend Line
No Effort Down
Chapter Four

The Anatomy of a Bull or Bear Market
Any Market Moves on Supply and Demand
A Campaign
The Selling Climax
The Buying Climax
From Bear to Bull Markets
Bear Markets
Falling Pressure
Chapter Five

"I Want To Become A Full Time Trader"
What is a System?

Trading Hints and Tips
Listen to the News by All Means but…
Do not Fix Future Price Targets in Your Mind
Always have a Plan
Always Plan what you will do if you are Wrong
Timing
Be your own Boss, Do not Reply on Other People
Concentration
Trading the Old Account Period
Traders Frequently Get 'Locked into or out of a Market'
How will I Recognise Signs of Strength?
What are the Main Signs of Weakness?
Summary – Up-thrusts
It is Useful to have a Check List
How will I start to Recognise the Likely End to a Rally?
Narrow Spread, High Volume, on an Up-Day/bar
What is an Up-thrust?
The Path of Least Resistance
HOW TO SELECT A STOCK the easy way
Point and Figure Charts
The VSA 8 Program

GLOSSARY

INDEX

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