Originally Posted by
Billy
The problem with Weinstein's book is that it had only one edition in 1988 and was never revised since then.
It was the best and most revealing read for all traders at that time. It has been my trading bible for years and was the most influential book of my life. But it is clearly outdated for the new generation of traders who will laugh at reading sentences like " General Motors is the best leading indicator of the US market". It was so true at the time, but today? You'd need to replace GM with AAPL, I guess...
The major lesson from Weinstein's book was stage analysis, and Brian Shannon has completely updated the concept for multiple timeframes. Brians's book is of a much better practical value for today's market.
The two other best lessons from Weinstein were relative strength and volume analysis on breakouts. Much similar to what William O'Neil is presenting with his methodology and books. Brian is much less focused on RS and volume.
The good news is that Brian is a member of this website and he confirmed to me that he will be happy to answer directly any questions you may have about his book.
Billy
Reply With Quote