Baby, I Am Taking You Back To School
I often get asked by TradingMarkets.com members the question “what books
would you recommend I read to further my trading education?” The truth is, there
are many out there. Some are good and solid, other long on mere theory. One of
the best I have found that has greatly aided me in my own trading is
Method In Dealing In Stocks by Joseph Kerr. In this book you will learn to
interpret news combined with market action in a manner that will work for you,
instead of trading like 95% of the rest of the crowd.
09:45:21
Intraday Setup Alert
Nike (NKE)
beat earnings estimates by a penny per share, but gapped lower on the open.
It is now reversing and has traded back upward through Tuesday’s low. NKE is
down 0.02 at 41.68.
Â
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Nike
(
NKE |
Quote |
Chart |
News |
PowerRating) came out with good news, yet gapped down
slightly. When it fills the gap and takes out Tuesday’s low, the stock is
screaming to you that they are not going to take it down, it is going up. Scream
is just what it does too, moving upward more than 1 1/2 points over the next
hour.
This book by Kerr was written in the first part of the 20th
century, yet it is still relatively unknown. The most important part however, is
that the information in it continues to be relevant today. The book is not an
easy read, but if you ask the majority of students in the TM.com personal
mentoring program, they will be happy to tell you the effort involved will not
go wasted.
Until tomorrow,
Duke