Studying the voodoo science of stocks

Posted by Michael Hainsworth on November 2, 2009

Some call it "voodoo” but others call technical analysis a key component to making a buy, sell or hold decision. 

Recently on Market Call, a viewer requested advice on how to learn more about the art of this black science. We turned to Jeff Parent, past president of the Canadian Society of Technical Analysis for his recommendations on books and courses across the country.

Jeff advises viewers to consider joining the CSTA, stating that membership is “very reasonable and we have a great library.” Many of the events are held at no charge. There’s a conference scheduled for November 6th-7th at the Toronto Board of Trade's downtown centre that Jeff considers a “must attend event” for anyone interested in the subject. The CSTA offers conferences and courses elsewhere, as well. Jeff offers an overview of the Technical Analysis Course and suggests that anyone who has an interest in expanding on that program, the U.S. Chartered Market Technicians program is a great place to turn to.

Jeff also points Market Call viewers to Equis.com. It offers resources at this free site.

Viewers wishing to do some not-so light reading are advised to browse Books For Business either online or in person at 120 Adelaide Street West in Toronto and recommends a series of tomes including Technical Analysis of Stock Trends by Edwards & Magee, Technical Analysis of Stock Trends by John Murphy or Trading Systems and Methods by Perry J. Kaufman.

Our guest technical analyst also advises viewers of this “classic” Trade Your Way to Financial Freedom by Van Tharp, too. If you’re a student of the markets, the psychology of trading When Supertraders Meet Kryptonite by Art Collins and a historical view from Edwin LeFevre titled Reminiscences of a Stock Operator are recommended reading.  Parent points out all these books are in the CSTA library.

Jeff Parent, Associate Portfolio Manager at Quadrexx Asset Management can be reached parent@quadrexx.com.
 

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