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 | | Intermarket Technical Analysis: Trading Strategies for the Global Stock, Bond, Commodity, and Currency Markets (Wiley Finance) by John Murphy ISBN-10: 9780471524335 ISBN-10: 0-471-52433-6 ISBN-13: 9780471524335 ISBN-13: 978-0-471-52433-5 Hardcover 1991-03-01 Wiley Find Lowest Price |
Editorials | ||
Product Description Trying to trade stock, bond, commodity and currency markets without intermarket awareness is like trying to drive a car without looking out the side and rear windows--very dangerous. In this guide to intermarket analysis, the author uses years of experience in technical analysis plus extensive charts to clearly demonstrate the interrelationshps that exist among the various market sectors and their importance. You'll learn how to use activity in surrounding markets in the same way that most people employ traditional technical indicators for directional clues. Shows the analyst how to focus outward, rather than inward, to provide a more rational understanding of technical forces at work in the marketplace. | ||
Reviews | ||
Must Read This is a book that everyone should read. Even if you don't trade this is a great book about economics and will help anyone to understand what moves the markets and why. There are numerous charts in this book comparing different markets to each other in a plain easy to understand format. As a technical book goes this one is easy to comprehend will give the reader a much greater knowledge of the markets and the economy in general. As a trader myself this is one of the best books out on this subject I know of and one of the best books I have read on trading period. As an example a few years ago lots of economists were talking deflation. If you had of read this book you would have known that we were not heading into a period of deflation but inflation. What is presented in this book is not an exact science but will give the reader insight to what the future economic situation will be. | ||
If you liked this book, you'll love his new book.... Those who were reluctant to accept the benefits of intermarket analysis after reading Intermarket Technical Analysis (1991) will find making the paradigm shift much easier after reading his latest book published in February 2004 called Intermarket Analysis. Murphy has the benefit of some monumental market events in the last three decades to demonstrate his case and he uses them to great effect. As John pointed out in an interview for Stocks & Commodities magazine I did with him in December 2003, it was his original goal to write the quintessential intermarket book but then found the topic so involved that each chapter could have become a book. There is just so much to discuss. Attempting to cover anything but a small snippet in a review is sheer folly. It is also impossible to do the book justice. Markets have become so interdependent in the last decade, a correlation that continues to strengthen with time. If those who suffered financial ruin between 2000 and 2002 had read Intermarket Technical Analysis, how many of them could have avoided huge losses and even profited from what occurred? We will never know for sure but is it a risk they anyone can afford to take, especially when considering that the cost of avoidance (cost of the book) is less than $50? For those serious about making money in the market and keeping it, his new book, Intermarket Analysis is an absolute must! Matt Blackman - Technical writer/review and regular contributor to Technical Analysis of Stocks & Commodities Mag, Traders Mag (Europe), Working Money, Traders.com Advantage, SFO Magazine | ||
The textbook on market forecasting You'll learn a lot from this book. Most investors sit obsessively focused on the market averages. They'll cut on their TV and see the ticker on CNBC be in the green and feel elated or else they'll see it red and get worried. Murphy's book will show you how a study of the bond, currency, and commodities markets along with an analysis of the stock market will help you see the big picture and get a better feel for where the economy and all of the markets are going. The past 3 years has proven to us that just because the stock market has a rally doesn't mean we are on the verge of a big economic boom or a new bull market.
Murphy demonstrates how each of these four sectors interact with one another and the business cycles and if you can grasp the lessons he teaches you then you'll have a clearer understanding of what drives the financial markets. Once you understand these cycles you will be able to forecast the intermediate term trend of the markets. It really isn't that complicated.
The only negative about this book is that it reads like a textbook. It takes a theory of how these markets rotate with one another and demonstrates it with example after example. It takes work to get through the book, but the payoff is well worth it. In fact the lessons in this book are critical to anyone who wants to become a successful investor. In today's environment of rapid boom and bust in which market timing is critical they are more important than ever. Even though it is 10 years old, this is the best book on the subject. | ||
Covers insights many miss This book and its concept dwells into the area of the financial markets and how they affect each other. Its theory meshes with various other market theories in that if one market goes up, another may respond differently. This is one of the handful of books i would recommend to anyone beginning to get serious about the financial markets. I first picked this up in a state library, much to my amazement it was brand new and never borrowed, much like a lot of the information in it. | ||
Badly needs updating & poorly executed This book is old (1991) and does not cover the important facet of sector rotation or how to intrepret this book into a meaningful stock play. Murphy in this book does not even hint at it, thus allot of this information is not truly useful. The concept is superb but the execution quite flawed. Instead get the other Murphy book:Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications OR Martin Pring's new edition to his updated Complete Technical Analysis. Even Murphy's chapter in New Thinking in Technical Analysis: Trading Models from the Masters This book is boring with no payoff. There is too much repitition with no real payoff (sector rotation); if you are truly interested in this important field of study look elsewhere. | ||